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Resource Opportunities - Freegold Ventures Ltd. April 2008
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April 2008
Freegold reported further encouraging gold assays from a closely-spaced drill program at its Golden Summit gold project near Fairbanks, Alaska. More than seven million ounces of gold was produced in the area of Golden Summit beginning in the gold rush days and extending until 1942. Most of that gold was recovered from placer streams at the base of the hill, with 500,000 ounces mined from high grade veins that averaged more than one ounce per ton. Exploration in modern times initially sought to delineate veins with enough continuity to justify modern mining. Numerous high grade vein intersections have been encountered by drilling, but the veins tend to be narrow and discontinuous. The property was also evaluated for its bulk tonnage potential.
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