Freegold Ventures Limited
Freegold (FVL: TSX) is a Toronto Exchange listed company focused on exploring for copper and gold near Fairbanks, Alaska. Holding both the Golden Summit project, an advanced stage gold asset on which Freegold completed a preliminary economic assessment (PEA) in January 2016, and the Shorty Creek project, an exciting new copper-gold porphyry discovery.
At Golden Summit, a drill program commenced in February 2020 which is designed to test a revised interpretation based on Freegold’s work that higher-grade mineralization may extend to the west of the old Cleary Hill Mine workings in an area of limited previous shallow drilling. The first hole in the program GSDL 2001 was completed to a depth of 548 metres and intersected 188 metres grading 3.69 g/t Au, and notably the last 20 metres averaged 9.87g/t Au.
Drilling recommenced in mid June and is now expected to continue through the end of 2021. The program is aimed at further testing Freegold’s new interpretation as well as conducting the necessary drilling to advance the project through pre-feasibility. Three drill rigs are currently operating. In addition several of the previously identified targets on the property will be drill tested, several of which have had previous production averaging greater than one oz/t.