The Golden Summit project, a mere 30-minute drive from Fairbanks, holds immense promise for additional exploration. In 2023, Freegold completed approximately 26,000 meters of drilling, a significant step towards our expansion goal. The 2023 assays from the Dolphin/Cleary Zone were incorporated into the updated mineral resource estimate. The Company is optimistic about the potential for expansion. In 2024, 25,708m were drilled and the results of this drilling will be incorporated into an updated mineral resource estimate in 2025.
| CutOff Au g/t | Classification | Au g/t | Tonnes | Ounces |
| OXIDE | ||||
| 0.15 | Indicated | 0.49 | 59,414,000 | 937,000 |
| 0.15 | Inferred | 0.45 | 3,252,000 | 47,000 |
| PRIMARY | ||||
| 0.5 | Indicated | 1.08 | 346,304,000 | 12,050,000 |
| 0.5 | Inferred | 1.04 | 308,311,000 | 10,306,000 |
| UNDER PIT | ||||
| 0.75 | Indicated | 1.29 | 2,867,000 | 119,000 |
| 0.75 | Inferred | 1.34 | 22,900,000 | 986,000 |
Mineral Resources for the primary resources are reported at a cut-off grade of 0.50 g/t gold and constrained within an open pit shell using a gold price of US$1,973/ounce, US$2.50/t mining cost, US$14/t processing cost, US$2.00/t G+A, 72% gold recovery, and a 45° pit slope. Tonnes and ounces rounded to the nearest thousand.
- Located a 30-minute drive from Fairbanks, Alaska
- Since 2020 over 100,000 metres have been drilled at Golden Summit – resulting in a significant resource growth
- Paved highway road access
- High Tension power line located 7 km away
- Existing labour force and supply centre in Fairbanks
The 2020 -2024 program focused on delineating deeper, higher-grade mineralization. Drilling continues to focus on further expanding and defining the higher-grade Cleary Vein System (CVS). The CVS is interpreted to be a broader zone of higher-grade mineralization, which encompasses the down-dip extent of the higher-grade vein zones found within the historic Cleary, Colorado, Wackwitz, and Wyoming veins and their broader enveloping stockwork zones. The CVS extends west of the Cleary Hill Mine towards the Dolphin Intrusive. The program successfully demonstrated the potential for more extensive and higher-grade gold mineralization on the project.
The 2023-2024 program confirmed the potential to further expand the resource along strike to the west within a 1.5-kilometre-long gold-in-soil geochemical anomaly at potentially shallower depths. It highlighted the potential to increase the overall resource grade by further expansion drilling. Significant mineralization, including broad zones of higher-grade mineralization, was consistently intersected during the 2023-2024 drill program. One of the highest-grade intercepts was seen in hole GS2333, located 250 meters west of the main Dolphin area. This hole intersected multiple zones with over 2 g/t of gold over a significant width (2.12 g/t over 197.3m) within a broader interval of 1.76 g/t Au over 276.5 meters. Mineralization is still open up-dip, down-dip, and to depth. It's worth noting that soil anomalies have been useful in identifying areas of potential mineralization at Golden Summit since the area was not glaciated.
The 2024 program tested the potential for additional mineralization west of the current resource, where a strong gold-in-soil geochemical anomaly has been outlined. The gold-in-soil anomaly extends over 1.5 km west of the current resource. In addition, holes for additional metallurgical testwork have been completed. During 2024, over 25,708m of drilling were completed. A significant number of assays remain to be reported. Comprehensive metallurgical testwork is ongoing, aimed at both improving recoveries and delineating a flowsheet in preparation for economic studies.