Freegold Ventures Lt : Freegold Intersects 1.19 g/t Gold over 132.7 metres Golden Summit Project, Alaska
04/02/2012| 08:09am US/Eastern
April 1st, 2012 (Vancouver, BC)
Hole GSDL12-01 is the first hole of the 2012 program in the
Dolphin Zone and returned 314.1 metres averaging 0.69 g/t
Au. It is a 60 metre step out to the north of hole GSDC
11-43 which intersected 200.3 metres of 0.85 g/t Au. The
results of hole DL 12-01 also confirm that the
mineralization remains open at depth and to the west and
south. Additional drilling is planned to expand on the
mineralization encountered in hole GSDL12-01.
Significant results from GSDL12-01 are reported below:
Depth of Hole (ft)
Width refers to drill hole intercepts, true widths can not
be determined due to uncertain geometry of mineralization.
All assays reported are uncut.
Significant mineralization in hole GSDL12-01 is associated
with numerous faults and shear zones containing variable
amounts of quartz -- sulfide veining. Host rocks include
quartz mica schist, quartz biotite schist and hornfels.
Visible gold was noted in core from this hole. Sulfide
content was generally below 5% but ranged up to 50% in some
massive sulfide veins. The dominant sulfide minerals
include pyrite and arsenopyrite with lesser jamesonite and
Current drilling in the Dolphin area is aimed at expanding
the current Dolphin resource (December 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.
A total of 3,856 metres were drilled in the Cleary Hill
zone since January of which assays have been reported for
1,832 metres. This drilling was aimed at merging
mineralization at the Cleary Hill Zone with the existing
Dolphin Resource. Results from the remaining Cleary Hill
zone drilling will be reported shortly.
1,653 metres have been drilled in the Dolphin Zone since
January of which assays for 314.1 metres have now been
In addition 1,686 metres have been completed since January
on the Christina area of which 1,175 metres have been
The total program planned for 2012 for Golden Summit is
The Qualified Person who has reviewed the technical
disclosure contained in this release is Curtis J. Freeman,
M.Sc., PGeo who is the primary geological consultant for
Drill cores were cut in half using a diamond saw, with
one-half placed in sealed bags. Core samples were picked up
on-site by ALS-Chemex Labs and transported to their
facility in Fairbanks, Alaska. A sample quality
control/quality assurance program was implemented.
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 central Alaska.
Kristina Walcott-President and CEO
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
This press release was issued by Freegold Ventures Limited and was initially posted at http://www.freegoldventures.com/s/NewsReleases.asp?ReportID=515921&_Type=News-Releases&_Title=Freego ld-Intersects-1.19-gt-Gold-over-132.7-metres-Golden-Summit-Project-Al... . It was distributed, unedited and unaltered, by noodls on 2012-04-02 14:03:46 PM. The issuer is solely responsible for the accuracy of the information contained therein.