Freegold Ventures
Freegold is a Canadian gold exploration and development company which has assembled a senior, production-orient-ed management team over the past two years. Freegold's team has an excellent track record, having taken 5 companies to production in the past, and having created over $1 billion of new market capitalization in the process. This team has collectively been involved in the start-up, acquisition, financial turnaround and operation of 11 separate gold producers, with an aggregate production of 1,535,000 oz gold and 9,600,000 oz silver. With this experience, an excellent portfolio of North American projects, new supportive shareholders including Sprott Asset Management and Rob McEwen, and a sound capital/financial structure, Freegold is well along its own path to sustained gold production. Freegold's current assets include three advanced-stage gold projects: the Almaden project in Idaho, and the Golden Summit and Vinasale projects in Alaska. In addition Free-gold is actively exploring its Rob project, an early-stage exploration project also in Alaska.
Freegold Ventures confirms continuity in gold vein swarm
Freegold Ventures announced results from the ongoing Phase two, 40,000 foot RAB drilling program at the Golden Summit project outside Fairbanks, Alaska.
Initial drilling was focused on Fence 24 to test the continuity of one of several vein swarms previously identified. Highlights included an impressive 39 feet grading 8.9 grams per tonne, including 6 feet at 31.5 grams per tonne with a wider, lower grade shear zone. Freegold drilled two roles of holes at Fence 24 to an average depth of 70 feet with 20 meter spacing. Analysis of the assays from Fence 24 exhibited good continuity over a 550 foot strike and 150 foot width.
"These in-fill results and the continuity exhibited by this mineralization adds to the confidence level that the other 100 to 300 foot wide parallel vein swarms identified through last year's wide spaced fences in this open-ended 5,000 foot long by 1,200 foot wide zone may exhibit similar continuity.", the company said.
Freegold is now awaiting assay results from a further 23 deeper holes completed on the same vein swarm, but 800 feet to the east of Fence 24 plus deeper drilling in the Beistline area.
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