The first drill holes of the 2019 drilling program (SC 1901 and SC 1901A) were collared northeast of Hill 1835. Hole SC1901, the first hole of the 2019 program, was lost at a depth of 67 metres. Hole SC1901A was subsequently drilled from the same platform as SC1901 and intersected 99.1 metres grading 0.29% Cu starting at a down-hole depth of 225.3 metres. The style of mineralization intercepted in hole SC1901A is typical of previous holes that
The second and third drill holes (SC1902 and SC1902A) were collared west of the Hill 1835 magnetic high anomaly. No significant assay values were intersected; however, both holes were abandoned due to ground conditions.
Hole SC1903 was collared near the southwest edge of the Hill 1835 magnetic high anomaly. A significant width of copper mineralization was intersected, and it remains open along strike and to depth. Copper mineralization is primarily chalcopyrite which occurs within zones of intense biotite alteration within the siltstone/shale sequence which has been intruded by minor mineralized porphyritic sills/dikes.
Hole SC1904 was located northeast of Hill 1710. SC1904 was drilled to a depth of 167 metres, far short of the target depth of 450 metres.
Highlights from the 2019 program include:
Hole ID | Dip | Azimuth | Depth | From | To (m) | Int. (m) | Cu | Au | Ag |
SC 1901A | -75° | 135° | 336.6 | 225.3 | 324.4 | 99.1 | 0.29 | 0.014 | 1.61 |
SC 1902 | -70° | 135° | No significant values | ||||||
SC1902A | -60° | 135° | No significant values | ||||||
SC1903 | -75° | 180° | 572 | 251.65 | 505.5 | 253.85 | 0.17 | NSV | 2.67 |
incl | 268.75 | 424 | 155.25 | 0.195 | NSV | 3.58 | |||
SC1904 | -75° | 135° | Hole abandoned before reaching target depth (NSV) |
Not yet sufficient data to determine how the downhole drill intervals might relate to the actual true thickness of mineralization has been collected.
In addition to the drilling, 100 km of induced polarization and 98 km of ground magnetic surveys were completed. A further 543 soil samples were collected to expand target areas for future drill programs.
FREEGOLD INTERSECTS 99 METRES GRADING 0.29% Cu AT SHORTY CREEK
Located 120 km northwest of Fairbanks, the Shorty Creek project was identified as having significant porphyry potential by Freegold in late 2014. Shorty Creek hosts a cluster of magnetic high anomalies commonly seen in porphyry districts. Drilling has been largely concentrated on the Hill 1835 area; however, it is only one of the potentially significant targets within the property. At Hill 1835, twelve widely spaced historic holes, drilled to an average depth of 500 metres, have expanded the mineralized zone to over a 750 x 400 metre area with each hole intersecting significant and consistent copper, gold, silver and tungsten mineralization over broad widths from base of oxide material (average depth ~90 metres). The mineralization at Hill 1835 remains open to the east, northeast, southwest and to depth.
Other exploration targets within this promising 100 square kilometre property include the Quarry target, where oxidized porphyritic rock with stockwork veining returned values of 500 ppm copper in rock samples. Quarry lies 3 km north-northeast of Hill 1835 at the northern end of an 11 km long magnetic high. Sampling and mapping at Quarry has confirmed both the presence of copper mineralization and quartz feldspar porphyry intrusive rocks.
The 2019 program was fully funded under an agreement with a wholly owned subsidiary of South32 Limited (South32) whereby South32 has the option to earn a 70% interest in the
Drill core from the 2019 program was logged, photographed and placed in sealed bags for geochemical analysis. Core samples were transported to SGS's preparatory facility in
At
The Qualified Person for this release is Alvin Jackson, PGeo – Vice President Exploration and Development for the Company who has reviewed and approved the scientific and technical information contained in this press release.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on exploration in Alaska and holds through leases the
About South32
South32 is a globally diversified mining and metals company. We produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at our operations in
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 program.
SOURCE
© Canada Newswire, source