Freegold Ventures Limited (TSX: FVL, OCTQX: FGOVF) has successfully confirmed the downdip continuity of the Cleary Vein Zone at its Golden Summit project near Fairbanks, Alaska in the United States.
Having increased Golden Summit’s in-pit resource ounces with its 2020-2022 drill programmes from 1.35Moz to 12.6Moz indicated and from 1.58Moz to 7.7Moz inferred, the primary strategy of Freegold’s 2023-2024 drill programme is to upgrade the resource with new higher-grade targets and infill drilling.
Hole GS2330 is an example of strategic infill drilling. It intersected three mineralized intervals, beginning with a high-grade interval of 3.0m @40.5g/t starting 164m downhole, followed by 100.7m @1.00g/t starting 240m downhole and a third intersection that ended in mineralization of 18.2m @1.03g/t, starting 389m downhole. All three intersections were above the February 2023 indicated and inferred resource grades of 0.92g/t and 0.85g/t, demonstrating the potential for the 2023-2024 infill drill programme to upgrade the 2023 resource.
The attached Section 479550E shows an 800-meter mineralized zone in cross-section within an existing strike length of 1.5 km, which remains open to the west. A broad of mineralization with a consistent dip of higher-grade mineralization is apparent within the Cleary Zone. This zone will be a priority follow-up for future infill drilling on the Cleary Zone. The mineralization continues to broaden towards the south at depth.
Assays are still pending for the holes drilled north of the Dolphin Cleary Zones. The primary purpose of these holes was to define the mineralization extent in the north and immediate northwest, and they have successfully intersected the up dip of the overall mineralized trend.
Similarly, assays are still pending for the Saddle Zone holes. The 2023 drill programme conducted in the Saddle Zone was primarily exploratory and aimed to provide a better understanding of the mineralization controls in the densely veined Saddle Zone. Based on visual inspections, it is evident that additional drilling is required in the Saddle Zone, as visible gold has been noted in SZ2307.
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