Freegold Ventures Limited (TSX: FVL | OCTQX: FGOVF) has commenced drilling at its Golden Summit project with two diamond drill rigs focused on identifying zones of higher-grade gold mineralization.
Mineralization identified in the 2020 – 2023 drill programmes demonstrates the higher-grade mineralization dips moderately south towards the Dolphin intrusive and is bounded toward the north by significant faulting. Mineralization is deeper toward the south.
In 2023, the drill programme at Golden Summit successfully discovered higher-grade mineralization on the western side of the existing resource at a shallower depth. Building on this success, in 2024, the plan is to continue drilling on the western part of the Dolphin/Cleary deposit and extend the drilling coverage further to the west.
Three distinct geochemical trends have been identified: two south-southwest flanking trends and a clear east-west trend spanning an additional 1.5km. As Golden Summit is non-glaciated, the surface geochemistry has proven to be an excellent indicator of near-surface gold mineralization. The 2024 drill programme aims to explore these trends to identify higher-grade shallow mineralization to improve the overall resource grade before commencing with economic studies. The current pit-constrained primary mineral resource at Golden Summit (Feb 2023), using a C$1,792 gold price and a 0.45g/t cut-off, is 12,011,000oz @ 0.92g/t Au (407,544,000t) indicated and 7,736,000oz @ 0.85g/t Au (282,303,000t) inferred.
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