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April
26th, 2012 (Vancouver, BC) --
Freegold Ventures Limited (TSX: FVL,
Frankfurt: FR4N) ("Freegold") is pleased
provide an update on its 2012
exploration plans. Drilling began in mid
January at Golden Summit. A total of 35
holes were completed totaling 9,320
metres. Assays have now been reported
for 6,262 metres, and 25 holes.
Remaining holes will be reported as
assay results become available. The
focus of the Golden Summit drilling was
to test the Christina vein system to
determine if there is potential to
define a bulk tonnage resource in the
Christina areas as well as additional
drilling in the Cleary Hill and Dolphin
Zones which is aimed at linking the
Dolphin and Cleary Zone with the next NI
43-101 resource update.
The most recent NI 43-101 compliant
resource was completed on the Dolphin
Zone in December of 2011 which using a
0.35 g/t cutoff is 14,840,000 tonnes @
0.66 g/t Au - representing 316,000
ounces in the indicated category and
50,460,000 tonnes @ 0.61 g/t Au -
representing 991,000 ounces in the
inferred category.
In addition drilling is expected to be
conducted this summer in the Goose Creek
and Too Much Gold areas that are two
additional potential bulk tonnage
targets within the 7.5km long Golden
Summit Project. Drilling will also
resume on the Dolphin Zone in mid May.
Vinasale Project, Alaska
In addition drilling is anticipated to
start mid May on the Vinasale Project.
Drilling is aimed at expanding the March
2012 NI 43-101 compliant resource of 1.7
million ounces (49.3 million tonnes
averaging 1.09 g/t Au) in the inferred
category within the Central Zone. To
date, mineralization in the Central Zone
extends over a strike length of 400 metres and remains open to the south,
east and at depth.
The 2012 program will consist of
additional drilling in the Central Zone
as well as potential resource definition
in the North East Zone. The zone was
further defined by the 2011 ground
geophysical program and limited prior
drilling. A 5,000 metre program is
currently planned.
The Vinasale Gold Project is located in
southwest Alaska and is held under an
Exploration Agreement with an Option to
Lease from Doyon Limited, an Alaskan
Native Regional Corporation.
The Qualified Person who has reviewed
the technical disclosure contained in
this release is Alvin Jackson, PGeo who
is the Vice President Exploration and
Development for the Company.
About Freegold Ventures Limited
Freegold is a TSX listed company focused
on the exploration of gold projects in
Alaska. In addition to the Golden Summit
Gold Project, the company holds a 100%
in lease interest in the Rob Gold
Project near the Pogo Gold Mine in the
Goodpaster Mining District of Alaska and
has an exploration agreement with option
to lease the Vinasale Gold project in
southwest Alaska.
Kristina
Walcott-President and CEO
Telephone:
1.604.662.7307
jkw@freegoldventures.com
Some statements in this
news release contain forward-looking
information, including without
limitation statements as to planned
expenditures and exploration programs.
These statements address future events
and conditions and, as such, involve
known and unknown risks, uncertainties
and other factors which may cause the
actual results, performance or
achievements to be materially different
from any future results, performance or
achievements expressed or implied by the
statements. Such factors include without
limitation the completion of planned
expenditures, the ability to complete
exploration programs on schedule and the
success of exploration programs
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