VANCOUVER: October 26, 2020 – Freegold Ventures Limited (TSX: FVL) (“Freegold”) is pleased to provide an update on exploration activities 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.
The expanded 2020-2021 drill program has multiple objectives:
- Determine the orientation of the higher-grade mineralization successfully intercepted in GSDL2001 and GSDL2002,
- Expand the currently known resource,
- Upgrade the resource categories as part of the effort to further advance the project, and
- Test other targets on the project that may have potential to host additional resources.
Freegold’s concept was that the vein system associated with the historic high-grade Cleary Hill Mine extends west towards the Dolphin intrusive. The initial two holes GSDL2001 and GSDL2002 supported this interpretation and intersected gold values up to 169.5 g/t over 2 metres. The orientation of the higher-grade zones remains to be determined and will require considerable additional drilling