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Golden Summit, Alaska

Golden Summit Project 2016
 

The Golden Summit property is located 32 km northeast of Fairbanks, Alaska just off the paved Steese Highway. Access to the property is excellent and offers infrastructure support for exploration activities on a year round basis. Several historic gold mines are located on the property, and open pit gold mining is ongoing at Kinross Gold's nearby Ft Knox gold deposit. 
 


Winter Drilling at Golden Summit
 

The property consists of a mix of patented and unpatented Federal lode claims and State of Alaska mining claims Freegold controls the claims through lease agreements with several claim owners, and through direct ownership of several patented Federal lode claims in the north central portion of the property. 

Freegold acquired interest in the Golden Summit property in the early 1990's, and since that time has conducted extensive surface exploration at numerous prospects over much of the property, including reconnaissance rock sampling, mapping, property-wide grid-based soil sampling, and several trenching projects at key prospects. Most of Freegold's drilling efforts have been focused on the west portion of the property. Freegold conducted drilling on the Dolphin gold deposit in 1995-1996, 1998, 2004, 2008. In 2011 resource definition drilling commenced at Dolphin and extensive drill programs were carried out throughout 2011 and 2012. A limited drill program was undertaken in 2013. Exploration in 2014 has focused on additional metallurgical work, baseline and cultural resources studies as well a preliminary economic assessment (PEA).

Geology

Gold mineralization is the only type of economic mineralization known on the Golden Summit property at this time. Gold mineralization on the property occurs in three main forms, including 1) intrusive-hosted sulfide-quartz stockwork veinlets (such as the Dolphin gold deposit), 2) auriferous sulfide-quartz veins (exploited by historic underground mines), and 3) shear-hosted gold-bearing veinlets. All three types are considered to be part of a large-scale intrusive-related gold system (or "IRGS") on the property. The Dolphin gold deposit is hosted in the Dolphin stock, which consists largely of granodiorite and tonalite, similar to the Pedro Dome pluton. It is the only known large intrusive body known on the property at this time. The Dolphin stock is approximately the same age as the nearby Ft Knox pluton, which hosts the Ft Knox gold deposit. Freegold made the initial discovery of widespread low-grade gold mineralization in the Dolphin stock during the initial drilling campaign on the prospect in 1995.

 

Exploration Potential 

The deposit remains open in all directions and to depth in the Dolphin/Cleary Hill Area. Approximately 600 metres east of the Dolphin/Cleary Zone lies the Tamarack area. Past reverse circulation drilling in this zone intersected 62 metres grading 0.55 g/t Au in TKR 98-01, and 130 metres grading 0.68 g/t Au in TKR 98-07. The last drilling completed in the Tamarack area was in 1998. Other prospective areas on the project include the Iowa, Too Much Gold, Goose Creek and Christina Area which are located 6km, 5 km, 4km and 2km to the east respectively. All of these prospective areas have an oxide cap in the upper 200 feet (60 metres).