VANCOUVER: November 10th, 2020 – Freegold Ventures Limited (TSX: FVL) (“Freegold”) is pleased to announce drilling results from its ongoing drilling program at Golden Summit, located near Fairbanks, Alaska. Drilling remains ongoing and is expected to continue until mid-December. Drilling is planned to resume in early February 2021 and continue throughout 2021. The Company is well financed to carry out its proposed programs.
Following the initial success of the 2020 drilling which began testing Freegold’s concept that the strike of the Cleary Hill vein system may extend west of the old Cleary Hill Mine workings towards the Dolphin intrusive, a series of step out holes was planned, that were aimed at determining the orientation of the higher-grade mineralization intercepted in both GSDL2001 and GSDL2002. Holes GSDL2003, 2004 and 2005 all intercepted higher than resource grade mineralization. The results continue to confirm Freegold’s revised interpretation. The orientation of the higher-grade zone remains to be determined and considerable additional drilling will be necessary to further define the orientation. The current program is also testing the Cleary Hill vein system at depth as well as the area to the south of it where early workings included the Wackwitz and Colorado vein zones which have never been tested to depth or along strike to the east.