Freegold Ventures Limited (TSX: FVL | OCTQX: FGOVF) has announced additional results based on the ongoing metallurgical test work on drill hole composites from the company’s 2020 – 2022 drill programmes. The objectives of the recently completed testwork were:
- Advancement of understanding of gold deportment and recovery methods from previously released metallurgical test work results
- Optimization of gold recovery and flowsheet make-up considering the minimization of both future capital and operating cost intensity with the benefit of significant additional and overall gold recovery
Eight drill core composites, representing different locations and grades within the Dolphin and Cleary areas, were created using continuous drill intervals chosen to reflect potential mill feed.
The selections of drill holes and intervals included the three primary gold-hosting lithologies. The results indicate that a gold recovery rate of 93% can be achieved using standard and commercially employed mineral processing operations. The composites were prepared from laboratory assay rejects of fresh rock intervals located well below the existing oxide cap at Golden Summit. Eight drill hole composites were utilized, comprising 1,192m of drill intercepts that represent 587 continuous mineralized intervals with a total material weight of over 5,100kg.
Since 2020, drilling activities at the Golden Summit project have significantly bolstered its potential, reinforcing the project’s viability through positive metallurgical outcomes and a marked increase in overall resources. The current pit-constrained resource includes both oxide and primary resources, with the oxide component located within the upper 70m. Previous column tests on the oxide material indicate that heap leach gold recoveries can reach 85% within two weeks. Ongoing optimization efforts are focused on delineating the most effective flow sheet for the sulphide component before initiating a pre-feasibility study.
The strategic plan for 2025 outlines extensive drilling initiatives aimed at upgrading resources from the inferred category to the indicated category, which is crucial for completing the planned pre-feasibility study. The September 2024 Primary Resource, using a 0.5g/t cut-off, is 346,304,000t at 1.08g/t Au (12,050,000 contained ounces) in the indicated mineral resource category and 308,311,000t at 1.04g/t Au (10,306,000 contained ounces) in the inferred mineral resource category.
In 2024, 41 holes, totalling 25,708m, were drilled. Assay results from twelve drill holes related to the 2024 programme are pending. Results from the 2024 programme will be incorporated into an updated mineral resource estimate expected to be released later in 2025.
Ongoing Metallurgical Work: The primary areas of focus in the next phase of metallurgical test work are in progress and include:
- Comminution studies using half PQ core
- Flotation concentrate oxidation pre-treatment utilizing BIOX® and POX prior to CIL
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