Freegold Commences Drilling at Golden Summit Project, Alaska

About this update from Freegold Ventures Limited

[{"type":"text","content":"\n\n\nVANCOUVER, July 15, 2013 /CNW/ - Freegold Ventures Limited (TSX: FVL,\n Frankfurt: FR4N) (\"Freegold\") is pleased to report that drilling, and geophysics are underway on\n its Golden Summit Project located near Fairbanks, Alaska. Initially\n drilling will be focused on upgrading the classification of the current\n NI 43-101 Resource. The latest NI 43-101 resource was published in June\n 2013 and again represented a significant increase in the known\n resources. The drilling in 2013 expanded the resource with an increase\n of 9% in both categories. Since drilling began on the Dolphin/Cleary Resource area in 2011,\n Freegold has successfully increased the resource by 867% in the\n indicated category and 820% in the inferred category.\n\n\nThe June 2013 resource also calculated an oxide component for the\n overall resource. The oxide cap is contained largely within the upper\n 200 feet (60 metres) of the resource. Resource drilling has been\n confined to a 300 metre by 1.5 km area (approx. 110 acres) however the\n entire Golden Summit project area covers an 11,400 acre area and hosts\n numerous other significant exploration targets with potential to host\n additional resources, all of which have an oxide cap in the upper 200\n feet (60 metres). Preliminary bottle roll tests on the oxide material\n has indicated recoveries in excess of 85% in 24hrs.  An extensive\n metallurgical programme is currently underway.\n\n\nThe June 2013 indicated and inferred resource using a 0.3 gram/tonne\n (g/t) cut-off for is:\n\n\n\n\nDOLPHIN/CLEARY ZONE INDICATED RESOURCE (Total)\n\n\n\n\nAu Cut-off\n(g/t) \n\n\nTonnes\n\n\n \n\n\n\n\nAu\n(g/t)\n\n\nContained\n\n\n\n\nkgs Au\n\n\nozs Au\n\n\n\n\n0.30\n\n\n79,800,000\n\n\n0.66\n\n\n52,350\n\n\n1,683,000\n\n\n\n\n0.35\n\n\n68,170,000\n\n\n0.71\n\n\n48,610\n\n\n1,563,000\n\n\n\n\n\n\n\n\n\n\n\n\nDOLPHIN/CLEARY ZONE INFERRED RESOURCE (Total)\n\n\n\n\nAu Cut-off\n(g/t) \n\n\nTonnes\n\n\nGrade \n\n\n\n\nAu\n(g/t)\n\n\nContained\n\n\n\n\nkgs Au\n\n\nozs Au\n\n\n\n\n0.30\n\n\n248,060,000\n\n\n0.61\n\n\n150,570\n\n\n4,841,000\n\n\n\n\n0.35\n\n\n213,530,000\n\n\n0.65\n\n\n139,440\n\n\n4,483,000\n\n\n\n\n\n\n\n\n\n\n\n\nDOLPHIN/CLEARY ZONE INDICATED RESOURCE (Oxide Zone)\n\n\n\n\nAu Cut-off\n(g/t) \n\n\nTonnes\n\n\n \n\n\n\n\nAu\n(g/t)\n\n\nContained\n\n\n\n\nkgs Au\n\n\nozs...

More updates from Freegold Ventures Limited