Freegold digs in to finance “high grade” Grew Creek

Betting on a north-south mineralized structure is paying off for Freegold Ventures (ITF-V) at their Yukon Grew Creek project. Results from the past six month’s diamond drilling on the 61,106 hectare property confirm Freegold’s suspicion that gold-silver mineralization follows a northerly trend. The 12-hole drill program refuted previous operator’s assumptions about an east-west trend and sets the stage for Freegold to resume drilling this month.

Results from testing indicate an extensive low-sulfidation quartz stock-work system flanking high-grade veins mostly within breccia zones that follow the mineralization. Drilled at right angles to the previous operator’s drill grid, results from four segments produced grades from 3.33 grams gold per tonne and 5.25 grams silver per tonne to 54.9 grams gold and 54.5 grams silver at varying depths.

Freegold will spend $250,000 on the next phase of northerly trend testing for the Grew Creek Epithermal Gold project, which has staked over 30 km of prospective targets. The company, funding the project entirely from its own coffers, has also budgeted for geophysics and bulk sampling this year.