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FVL:TSX
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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.
 

Both Vinasale and Golden Summit host NI 43-101 Compliant Resource Calculations

June 2013:

The indicated and inferred resource using a 0.3 and 0.35 gram/tonne (g/t) cut-off for the total resource is:

 

 

In addition an oxide only resource was also calculated. Limited drilling in 2013 has again expanded the resource with an increase of 9% in both categories. In addition for this update an oxide resource was calculated. The oxide cap is contained largely within the upper 200 feet (60 metres) of the resource. To date resource drilling has been confined to a 300 metre by 1.5 km area (approx. 110 acres) however the entire Golden Summit project area covers an 11,400 acre area and hosts numerous other significant exploration targets with potential to host additional resources, all of which have an oxide cap in the upper 200 feet (60 metres).

The indicated and inferred resource using a 0.2 gram/tonne (g/t) cut-off for the oxide component is:


Golden Summit is located approximately 32 km northeast of Fairbanks, Alaska. Access is by paved highway and then by gravel roads to the centre of the property. Exploration is possible on a year round basis on this road accessible project.  Cell service and power lines transect the property. 

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.

VINASALE PROJECT

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

 

ROB PROJECT:
HIGH GRADE GOLD PROJECT

Exploration 2011

  • A diamond core drill program (2,984 feet) was completed on the Michigan area.

 

The technical disclosure on this website has been reviewed by Alvin W. Jackson, Vice President Exploration and Development for Freegold Ventures Limited as the Qualified Person.