VANCOUVER, Aug. 14, 2013 /CNW/ - Freegold Ventures Limited (TSX: FVL,
Frankfurt: FR4N) ("Freegold") is pleased to report results from the first of the 2013
Dolphin/Cleary summer program. A total of 3 holes have been drilled for
a total of 5,468.5 feet (1666.8 metres) since drilling resumed mid
July.
-
Hole GSDL1311 is drilled within the Dolphin intrusive and was aimed at
upgrading the current resource category. The entire hole was
mineralized and averaged 0.82 g/t over the entire 1885 feet (574.52 metres).
-
These are some of the highest grade intercepts over a significant
intervals drilled to date on the project.
-
Hole GSDL1311 demonstrates the potential for higher grade near surface
mineralization.
Hole
Number
|
Hole
Inclination
|
Depth of
Hole (ft)
|
From (ft)
|
To
|
Interval (ft)
|
Interval (m)
|
Au
|
|
(ft)
|
g/t
|
Dolphin
Area
|
|
|
|
|
|
|
|
|
GSDL1311
|
-75
|
1922
|
37
|
1922
|
1885
|
574.52
|
0.82
|
|
|
|
incl
|
37
|
78
|
41
|
12.50
|
2.61
|
|
|
|
incl
|
243
|
347
|
104
|
31.70
|
1.48
|
|
|
|
incl
|
377.5
|
558
|
180.5
|
55.01
|
0.75
|
|
|
|
incl
|
667
|
798
|
131
|
39.93
|
0.62
|
|
|
|
incl
|
1039.5
|
1628
|
588.5
|
179.67
|
1.13
|
|
|
|
incl
|
1728
|
1922
|
194
|
59.13
|
0.87
|
Width refers to drill hole intercepts, true widths cannot be determined
due to uncertain geometry of mineralization.
The Dolphin/Cleary area is the only area of the Golden Summit project
that has been intensively drilled for resource definition and it
remains open to expansion in all directions and to depth. Recent
drilling is demonstrating that there is also the potential for higher
grade near surface as well. The resource area at present covers a 300
metre by 1.5 km area (approx. 110 acres) however the entire Golden
Summit project area covers approximately 13,000 acres and hosts
numerous other significant exploration targets with potential to host
additional resources.
The Qualified Person who has reviewed the technical disclosure contained
in this release is Curt Freeman, M.Sc., P Geo- geological consultant
for the project. Drill cores were cut in half using a diamond saw,
with one-half placed in sealed bags for geochemical analysis. Core
samples were picked up on-site by ALS Chemex and transported to their
facility in Fairbanks, Alaska. A sample quality control/quality
assurance program was implemented.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold
projects in Alaska. The Golden Summit project currently hosts an NI
43-101 compliant indicated resource of 79, 800,000 tonnes averaging
0.66 g/t Au for 1,683,000 ounces, and an inferred resource of
248,060,000 tonnes averaging 0.61 g/t Au for 4,841,000 ounces using a
0.3 g/t as a possible open pit cut off. In addition the Company has
an exploration agreement with option to lease the Vinasale Gold project
in central Alaska which hosts an indicated NI 43-101 resource of
3,410,000 tonnes averaging 1.48 g/t Au for 162,000 ounces of gold: and
an inferred resource of 53,250,000 tonnes averaging 1.05 g/t Au for
1,799,000 ounces of gold utilizing a cutoff value of 0.5 grams/tonne
(g/t) as a possible open pit cutoff. Giroux Consultants Ltd completed
the resource estimate. The company also holds 100% in lease interest in
the Rob Gold Project near Sumitomo Metal Mining's Pogo Gold Mine in the
Goodpaster Mining District of Alaska.
Some statements in this news release contain forward-looking
information, including without limitation statements as to planned
expenditures and exploration programs. These statements address future
events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the
statements. Such factors include without limitation the completion of
planned expenditures, the ability to complete exploration programs on
schedule and the success of exploration programs
SOURCE: Freegold Ventures Limited
