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Freegold Ventures Reports Ongoing Drilling Results from Golden Summit Project

Freegold Ventures has announced the results of the current drilling program conducted at the Golden Summit project in Alaska. Two core rigs are currently being used in the drilling in the Dolphin deposit region.

The company intersected 0.69 g/t gold over 314.1 m in the hole GSDL12-01, which is the first hole at the Dolphin Zone. This GSDL12-01 hole is a 60 m step out hole drilled towards the northern part of the hole GSDC 11-43, returning 0.85 g/t gold over 200.3 m. The DL 12-01 hole results have validated that mineralization stays exposed towards the south and west and at depth. The company has planned further drilling in order to extend the mineralization found in hole GSDL12-01.

The mineralization, which was mainly identified in hole GSDL12-01 is related with several shear zones and faults that include sulfide-quartz veining in variable amounts. Hornfels, quartz biotite schist and quartz mica schist are included in the host rocks. The core of this hole contained visible gold. The amount of sulfide was under 5% and its range was up to 50% in some abundant sulfide veins. Arsenopyrite and pyrite together with lower amount of sphalerite and jamesonite are included in the dominant sulfide minerals.

The company’s ongoing drilling at the Dolphin region has targeted to extend the present Dolphin resource. Since January, Freegold drilled 3,856 m in the Cleary Hill zone and has received assay results for 1,832 m. This drill program aimed to merge Cleary Hill Zone mineralization together with the previous Dolphin Resource. The company will announce the remaining results of the drilling program at the Cleary Hill zone.

Freegold has drilled 1,653 m at the Dolphin Zone since January, wherein assays for 314.1 m has been received, and has completed 1,686 m. The company has planned for a total program of 20,000 m during 2012 for the Golden Summit project.

Source: http://www.freegoldventures.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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