Business
Freegold Progresses on Golden Summit Gold Project and Establishes Work Plans for 2017
Freegold Progresses on Golden Summit Gold Project and Establishes Work Plans for 2017 ...
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n\n\n\nFreegold Progresses on Golden Summit Gold Project and Establishes Work Plans for 2017\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nFreegold Progresses on Golden Summit Gold Project and Establishes Work Plans for 2017\nCanada NewsWire\nVANCOUVER, Dec. 12, 2016\n\n\n\nVANCOUVER, Dec. 12, 2016 /CNW/ - Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) (\"Freegold) is pleased to provide an update on the Golden Summit Project. Golden Summit is located 30 minutes drive via paved highway from Fairbanks, Alaska.  \n\n2016\n\n\nCompletion of Preliminary Economic Assessment– January 2016 \nSoil Sampling Program– new areas of potential expansion identified\n\nFreegold began resource delineation at Golden Summit in March 2011 and since has completed three NI 43-101 compliant mineral resource updates, which were used as the basis for a preliminary economic assessment (the PEA) (Press Release January 25th, 2016). A technical report with respect to the PEA entitled \"NI 43-101 Technical Report, Golden Summit Project, Preliminary Economic Assessment, Fairbanks North Star Borough, Alaska, USA\" dated March 10, 2016 and amended and restated May 11th, 2016 (the PEA Technical Report) was prepared by Tetra Tech, Inc. with Mark J. Abrams, C.P.G. and Gary H. Giroux, P.Eng. of Giroux Consultants Ltd.  The initial development scenario proposed involves a stand-alone valley heap leach operation focused on the existing oxide portion of the resource, taking into account the potential for oxide resource growth, with a staged approach to a larger milling scenario. As part of the PEA a conceptual open pit, based on $1300 Au, was produced by Tetra Tech. As a result only blocks falling within this pit are reported as a Mineral Resource using a 0.3 g/t cut-off this results in an indicated mineral resource of 61,460,000 tonnes at 0.69 g/t (1,363,000 contained ounces) in the and  an inferred mineral resource of 71,500,000 tonnes at 0.69 g/t (1,584,000 contained ounces). Using a $1,300 gold price the PEA evaluated a two-phase, 24-year open pit mine generating ...