Freegold (FVL: TSX) is a Toronto Exchange
listed company focussed on the exploration and development of
Alaskan gold assets. Its flagship project is the Golden Summit
Project. Located a 30 minute drive from Fairbanks with road,
industrial scale power and an experienced workforce already in
place the Golden Summit project represents an excellent low risk
development opportunity for Freegold.
Over the past three years the Company has been dedicated to building NI 43-101 compliant resources on this significant property. Starting from no NI 43-101 compliant resource in early 2011 the company has made significant progress. The current resource at Golden Summit is now 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 0.3 g/t as a possible open pit cut off.
Resource drilling to date has been confined to a 110 acres in a 300 metre by 1.5 km area ( approximately 1% of the overall property). Other significant high grade and bulk tonnage exploration targets have already been identified that may have the potential to host additional resources.
The mineralized Dolphin Solid has increased in volume by 254 % over the one used in the 2011 Estimate (Adams, Giroux, 2012). It has been deepened and extended to the north east to include the Cleary Hill area. This update of the 43-101 resource reported in January 2012 (Adams and Giroux, 2012) was based on an additional 74 drill holes completed in 2012 and an extension of the mineralized zone to the north and east. As a result the number of holes within the mineralized solid increased from the 77(11,802m) used in the 2011 estimate, to 177 (35,829m) for this update.
CENTRAL ZONE NI 43-101 Compliant Resource (March 2013)
(Using a 0.5grams/tonne (g/t) as a possible open pit cutoff.)
Vinasale Central Zone Indicated Resource (Total Blocks)
0.50 (cut off) , 3,410,000 (tonnes) Au g/t 1.48 kgs Au 5,030 Contained ounces 162,000
Vinasale Central Zone Inferred Resource (Total Blocks)
0.50 (cut off) , 53,259,000 (tonnes) Au g/t 1.05 kgs Au 55,970 Contained ounces 1,799,000