A drill program at Freegold Ventures’ (ITF-T, FGOVF-O) Golden Summit property outside of Fairbanks, Alaska, has confirmed results from a 6,000-ton bulk sample taken from the same area last year.
Hole 347 returned a 3-ft. intersection grading 0.99 oz. gold per ton (33.95 grams gold per tonne), which corresponded with a surface channel sample from 2006 in the same area that returned 15 ft. averaging 22.3 grams gold.
Freegold also made a new discovery outside of last year’s bulk-sample area. Hole 350 returned 3 ft. grading 0.661 oz. per ton (22.65 grams per tonne).
The drilling is part of a 25,000-metre program aimed at confirming the results from a total of 10,000 tons of material sampled last year.
Recent drilling focused on the Fence 9 portion of the property, which covers an area 500 ft. long. Holes were shallow and closely spaced, drilled vertically with an average depth of 68 ft., and spaced 10 to 20 ft. apart.
Last year, Freegold discovered the hangingwall of a structure near the Beistline shaft, with mineralization extending up to 100 ft. south of the main structure.
Other highlights from the drilling include 78 ft. grading 0.066 oz. gold per ton (2.27 grams gold per tonne), and 15 ft. grading 0.24 oz. gold per ton (8.23 grams gold per tonne).
The company hopes to be processing the bulk sample and high-grade surface mineralization by late summer if its permits are in order by then.
The Golden Summit property includes the Cleary Hill mine, which produced 281,000 oz. gold and the Hi Yu mine, which produced 110,000 oz. gold. More than 500,000 oz. gold was mined from the area between 1902 and 1942.
The property was not mined after the Second World War because the water table had been reached, but Freegold says with modern technology that won’t be a problem.
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