Freegold Ventures Limited (TSX: FVL | OTCQX: FGOVF) has reported drilling results from the Saddle zone section at Golden Summit near Fairbanks, Alaska. The drill results are from the company’s 2023 exploration programme.
The programme has been successful in demonstrating significant expansion potential with drilling 250m west of the main Cleary/Dolphin zone intersecting multiple zones with over 2g/t Au over a considerable width (2.12g/t over 197.3m) within a broader interval of 1.76g/t Au over 276.5m.
The new Saddle zone results, 4km east of the central Dolphin/Cleary Zone, show further expansion potential to the east. The zone comprises an extensive vein system mapped on the surface, covering a 3km by 1km area. The 2023 programme tested an 800m strike length of this vein swarm and successfully intersected attractive gold and silver mineralization in all seven reconnaissance holes. The programme also tested the depth potential.
Unlike the Dolphin/Cleary zone, where mineralization occurs within broad, continuous lower-grade halos surrounding higher-grade veins, mineralization in the Saddle zone is hosted within discrete higher-grade veins, often with attractive silver values.
The 2024 programme will consist of drilling west of the main Dolphin/Cleary, where mineralization has the potential to be both higher grade and closer to the surface, testing an extensive 1.5km gold-in-soil geochemical anomaly west of the current resource.
In the Saddle zone, the 2024 programme will primarily focus on testing the vein zones not explored during the 2023 programme. The primary goal is to locate higher-grade veins and trace them towards the surface.
Moreover, Freegold Ventures has said that the American Eagle site within the Saddle Zone, which historically produced 60Koz at an average of 1.6oz/t, will be another area of interest. The Christina Vein will also undergo further drilling to depth.
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