NRFreegold Intersects 207.4 metres of 1.00 g/t Au at Golden Summit, Alaska
VANCOUVER, Oct. 11, 2011, 2011 (Canada NewsWire via COMTEX News Network) --
Freegold Ventures Limited (TSX: FVL) (Frankfurt: FR4N) ("Freegold" or the "Company") is pleased to provide assays for thirteen holes of drilling from the Phase One drill program on the Dolphin Zone on Golden Summit, Alaska.
A total of 27 holes were completed totaling 6,500 metres during the Phase One program. Drilling in this phase was designed both to upgrade the resource category as well as expand the known resource. An updated NI-43-101 resource estimate is expected to be completed on the Dolphin Zone by the end of 2011. A Phase 2 10,000 metre drilling program was initiated in mid August and is expected to continue until March of 2012. Drilling has commenced at the Cleary Hill mine prospect where Freegold hopes to develop the first NI 43-101 resource in that area.
The current NI 43-101 compliant resource on the Dolphin Zone completed earlier this year is:
Total indicated resource is 7,790,000 mt @ 0.695 gpt for a total of 174,000 contained gold ounces. Total inferred resource is 27,010,000 mt @ 0.606 gpt for a total of 526,000 contained gold ounces.
(using a 0.3 g/t cutoff)
The holes drilled in the Phase One program were within and adjacent to the main intrusive of the Dolphin Zone. (https://www.freegoldventures.com/i/maps/GS11DH_PR_Oct11b.pdf) and were designed to expand the resource to the east, south and to depth.
Highlights of the Phase One program to date include - GSDC 11-32 which returned 452 m @ 0.68 g/t Au, and GSDC 11-47 which returned 149.2 m @ 1.02 g/t Au (from 367 - 516.2m). See press releases dated June 13(th), 2011, and August 2(nd), 2011 respectively.
Significant intercepts from the currently reported holes include: GSDC 11-38 which returned 207.4 m @ 1.00 g/t Au, including 74.1 m @ 2.3 g/t Au, GSDC 11-41 which returned 187 m @ 0.65 g/t Au and GSDC 11-51 which returned 56.1 m @ 0.68 g/t Au. Also of note are some significant silver intercepts. Highlights include GSDC 11-37, which returned 97.5 m @ 8.00 g/t Ag, Hole GSDC 11-37 also returned 118.6 m grading 0.57 g/t Au. Hole GSDC 11-48 returned 24.8 m @ 34.7 g/t Ag.
____________________________________________________________________
|Hole Number|Depth of|From (ft)| To |Interval (ft)|Interval (m)|Au |
| | Hole | |(ft) | | |g/t |
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-37 | 644| 0| 389| 389| 118.6|0.57|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-38 | 689| 8.5| 689| 680.5| 207.4|1.00|
|___________|________|_________|_____|_____________|____________|____|
|incl | | 214| 457| 243| 74.1| 2.3|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-41 | 645.5| 32|645.5| 613.5| 187.0|0.65|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-44 | 646| 20| 104| 84| 25.6|0.63|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-46 | 651| 31| 131| 100| 30.5|0.23|
|___________|________|_________|_____|_____________|____________|____|
| | | 383.5| 576| 192.5| 58.7|0.32|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-48 | 1558| 89.5| 288| 198.5| 60.5|0.39|
|___________|________|_________|_____|_____________|____________|____|
| | | 1161.5| 1558| 396.5| 120.9|0.51|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-49 | 1323| 112| 1323| 1211| 369.1|0.29|
|___________|________|_________|_____|_____________|____________|____|
| | | 179| 239| 60| 18.3| 0.4|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-50 | 846| 99| 792| 693| 211.2|0.51|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-51 | 944| 109| 293| 184| 56.1|0.68|
|___________|________|_________|_____|_____________|____________|____|
| | | 794| 944| 150| 45.7|0.45|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-52 | 333| 5| 44| 39| 11.9|0.47|
|___________|________|_________|_____|_____________|____________|____|
| | | 158| 183| 25| 7.6|1.69|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-53 | 326| 11| 58.5| 47.5| 14.5|0.86|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-54 | 438| 10| 108| 98| 29.9|0.45|
|___________|________|_________|_____|_____________|____________|____|
| | | 281|366.5| 85.5| 26.1|0.75|
|___________|________|_________|_____|_____________|____________|____|
| | | 396.5| 438| 41.5| 12.6|0.33|
|___________|________|_________|_____|_____________|____________|____|
|Hole Number|Depth of|From (ft)| To |Interval (ft)|Interval (m)|Ag |
| | Hole | |(ft) | | |g/t |
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-37 | 644| 74| 394| 320| 97.5| 8|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-38 | 689| 321| 389| 68| 20.7| 17|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-48 | 1558| 86.5| 168| 81.5| 24.8|34.7|
|___________|________|_________|_____|_____________|____________|____|
| | | 1508| 1543| 35| 10.7|17.5|
|___________|________|_________|_____|_____________|____________|____|
| | | | | | | |
|___________|________|_________|_____|_____________|____________|____|
|GSDC 11-50 | 846| 99| 199| 100| 30.5|9.45|
|___________|________|_________|_____|_____________|____________|____|
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