Freegold Intersects 96 metres grading 0.79 g/t Au at Golden Summit Project, Alaska And Reprices Warrants

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 29, 2012 /CNW/ - Freegold Ventures Limited (TSX: FVL,\n Frankfurt: FR4N) (\"Freegold\") is pleased to report the results from its ongoing drill program on\n the Golden Summit Project located near Fairbanks, Alaska. Drilling at\n Golden Summit was conducted with two rigs from mid-January through\n mid-April and has been primarily focused in the Dolphin and Cleary Hill\n Areas.\n\n\n3,777 metres were drilled in the Dolphin Zone since January, all holes\n from the Phase 1 program have now been reported.  Drilling at Dolphin\n now has recommenced and assays will be reported as they become\n available.  This year's program for Golden Summit is anticipated to\n total 20,000 metres of which approximately 10,000 metres have been\n drilled since January.\n\n\nDrilling in Phase 2 will also include followup on the previously\n reported intercept of 20.9 meters grading 34.69 g/t gold in hole GSDL12-10. Future drilling will focus on expanding\n mineralization immediately to the south and west of GSDL12-10.\n\n\nAn updated NI43-101 compliant resource was completed on the Dolphin Zone\n in December of 2011 and the current drilling is aimed at expanding the\n current Dolphin resource which, using a 0.35 g/t cutoff, is 14,840,000\n tonnes @ 0.66 g/t Au  - representing 316,000 ounces in the indicated\n category and 50,460,000 tonnes @ 0.61 g/t Au  - representing 991,000\n ounces in the inferred category. The winter 2012 drilling results\n continue to demonstrate the expansion potential of the Dolphin Deposit.\n\n\nThe following table summarizes the final 3 holes from the Dolphin winter\n program.\n\n\n\n\n\nHole Number\n\n\nHole Inclination\n\n\nDepth of Hole(ft)\n\n\nFrom (ft)\n\n\nTo(ft)\n\n\nInterval (ft)\n\n\nInterval(m)\n\n\nAug/t\n\n\nDolphin Area\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nGSDL1209\n\n\n-55\n\n\n758\n\n\n162\n\n\n213\n\n\n51\n\n\n15.5\n\n\n0.93\n\n\n \n\n\n \n\n\n \n\n\n360.5\n\n\n675.5\n\n\n315\n\n\n96.0\n\n\n0.79\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nGSDL1211\n\n\n-90\n\n\n1655\n\n\n104\n\n\n119\n\n\n15\n\n\n4.6\n\n\n2.7\n\n\n \n\n\n \n\n\n \n\n\n219\n\n\n222.5\n\n\n3.5\n\n\n1.1\n\n\n33.7\n\n\n \n\n\n \n\n\n \n\n\n799\n\n\n1...

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