The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Results to be included in new resource slated for early 2023 North of 60 Mining News – December 9, 2022
Freegold Ventures completed 35,520 meters of drilling in 44 holes during its 2022 program at Golden Summit.
Click on image for larger Golden Summit drill map.
Freegold Ventures Ltd. Dec. 7 reported additional impressive gold intercepts that will contribute to the company's goal of expanding and upgrading the mineral resource for Golden Summit when a new calculation is completed for this road-accessible gold project north of Fairbanks, Alaska, early next year.
According to a 2016 estimate, the Dolphin deposit at Golden Summit hosts 61.5 million metric tons of indicated resource averaging 0.69 grams per metric ton (1.36 million ounces) gold; and 71.5 million metric tons of inferred resource averaging 0.69 g/t (1.58 million oz) gold.
Over the past three years, however, Freegold has completed 83,826 meters of drilling that has cut broad sections of well above resource grade mineralization well outside the bounds of the resource, including more than 500 meters to the east into the high-grade Cleary Hill area of the project.
The latest batch of assays is from two holes drilled roughly where the Dolphin and Cleary Hill areas merge and five holes south from this historical high-grade mining area at Cleary Hill.
Both holes drilled within the area where Dolphin and Cleary Hill meet cut wide sections of bulk tonnage gold with higher grade subsections, highlights include:
• 344.4 meters averaging 1.03 g/t gold from a depth of 477.6 meters in hole GS2217, including 57.2 meters of 2.63 g/t gold from 712.3 meters.
• 317.8 meters averaging 1.43 g/t gold from a depth of 259 meters in hole GS2225, including 45 meters of 3.69 g/t gold from 428 meters.
The five holes south of Cleary Hill also cut similar but lower grade mineralization, highlights include:
• 390.5 meters averaging 0.8 g/t gold from a depth of 91.5 meters in hole GS2214, including 43.4 meters of 2.16 g/t gold from 122.8 meters.
• 263.3 meters averaging 0.86 g/t gold from a depth of 239 meters in hole GS2218, including 32.7 meters of 2.51 g/t gold from 357.7 meters.
• 746.7 meters averaging 0.54 g/t gold from a depth of 1,030 meters in hole GS2162, including 35 meters of 2.45 g/t gold from 377.7 meters.
Freegold completed 35,520 meters of drilling in 44 holes during its 2022 program at Golden Summit. The company expects additional assays from its 2022 drilling in the coming weeks and plans to have a resource calculated early in 2023.
Drilling, along with the historic shallow underground mining in the Cleary Hill area, has outlined gold mineralization from surface to depths of more than 1,000 meters over a roughly 1,000- by 1,500-meter area that encompasses the now merged Dolphin deposit and the Cleary Hill area.
Freegold's 2023 drill program is expected to test several exploration targets across the wider Golden Summit property, including the Saddle zone about 4,000 meters to the east of the Dolphin-Cleary zone.
Much like Cleary Hill, Saddle hosts a historical high-grade gold mine – American Eagle, which produced 60,000 oz of gold from hand sorted ore averaging 1.6 ounces per metric ton gold.
Freegold has identified CSAMT (controlled source audio magnetotellurics) and NSAMT (natural source audio magnetotellurics) geophysics as effective techniques for targeting features associated with gold vein occurrences at Golden Summit.
The company says 3D modeling of an initial test NSAMT survey completed over the Dolphin deposit area correlates the known geology very well. Given the success of this exercise, additional lines have been added to expand the survey outside of the known mineralization to generate other targets for 2023 drilling.
The Dolphin-Cleary zone remains open to the west and southwest, where Freegold outlined a strong and undrilled gold-in-soil geochemical anomaly. Further southwest lies the historical Newsboy Mine, which produced 40,000 oz of gold from ore averaging 1 oz/t gold.
To the north of the Dolphin-Cleary Zone, Freegold collected 527 soil samples over a broadly spaced grid on property the company acquired early in 2022. Assays are pending.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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