Freegold Ventures Lt : Freegold Updates 2012 Exploration Plans, Alaska Additional Drilling at Golden Summit and Vinasale Projects
04/26/2012| 03:49pm US/Eastern
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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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