June 9th, 2011 (Vancouver, BC) - Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N)(“Freegold”) is pleased to announce the commencement of drilling on the Vinasale Gold Project located in southwest Alaska on which Freegold entered into an Exploration Agreement with an Option to Lease the Vinasale Project from Doyon Limited, an Alaskan Native Regional Corporation, in 2007.
A 5,000 metre program commenced today. The program is aimed at both upgrading and expanding the current 1.33 MOz (inferred) NI 43-101 compliant resource (37,260,000 tonnes grading 1.11 g/t ). (see news release dated March 31st, 2011).
An induced polarization (IP) survey is already underway which is expected to significantly expand upon the previous IP coverage and is anticipated to help define other areas that may be prospective to host additional mineralization outside of the Central Zone. The Central Zone covers a 300 metre by 400 metre area and hosts all of the current NI 43-101 compliant resource. The zone remains open in three directions and to depth.
Drilling by previous operators intersected mineralization similar to that seen in the Central Zone in the NorthEast Zone which is locaed1,200 metres to the northeast of the Central Zone. On average drill holes in NorthEast Zone have been drilled to an average depth of 90 metres are widely spaced.
Significant historical intercepts in this area include:
(Note that the drill hole intercepts are historical and have not been vertified).
The Qualified Person for this release is Curt Freeman, MSc. who has reviewed and approved the contents of this press release.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold projects in Alaska.
For further information:
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 programs