Freegold Ventures (TSX: FVL | OTCQX: FGOVF) has announced additional strong assay results from its 2024 drilling programme. A total of 41 holes were completed, totalling 25,708m. Assays have now been reported for 29 of the 41 holes completed.
The company has stated that the programme’s results continue to showcase the strong potential of the Golden Summit Project, highlighted by significant mineralization intercepted across broad areas. 2024 was pivotal, marked by a major resource update in September that increased both the total number of resource ounces and improved the overall resource grade.
The 2024 drilling programme was strategically designed to expand mineralization to the west, a decision aimed at enhancing the project’s resource base and economic viability. Additionally, the programme included drilling specific metallurgical holes to conduct comprehensive metallurgical tests for optimizing the flowsheet design. These results will enable the company to proceed with economic studies, including trade-off analyses of capital expenditures (CAPEX) and operating expenses (OPEX) in relation to gold recoveries, with the goal of maximizing economic returns.
Twenty-six holes were drilled in the WOW Zone to investigate multiple gold anomalies in soils. The soil anomaly extends 1.5km west of the existing resource. The current and planned programmes aim to increase the overall grade of the resource to enhance future economic returns. This anomaly could expand the project’s resource base and influence its future economic potential. The 2025 programme will focus on testing the depth extent of the higher-grade zones discovered during the 2024 programme and further exploring the mineralization to the west in the WOW Zone. An updated mineral resource will be completed upon receiving the final assay results from 2024, followed by the initiation of a pre-feasibility study.
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