Business
Freegold Signs MOU with Alaska's Large Mine Permit Team Golden Summit Project, Alaska
VANCOUVER , Jan. 7, 2014 /CNW/ - Freegold Ventures Limited (TSX: FVL) (Frankfurt: FR4N) ...
About this update from Freegold Ventures Limited
[{"type":"text","content":"\n\n\nVANCOUVER, Jan. 7, 2014 /CNW/ - Freegold Ventures Limited (TSX: FVL)\n (Frankfurt: FR4N) (\"Freegold\") is pleased to announce it has signed a Memorandum Of Understanding\n (\"MOU\") with the Alaska Department of Natural Resources (\"DNR\"), Office\n of Project Management and Permitting (\"OPMP\") for engagement with the\n State's Large Mine Permitting Team.  The Large Mine Permitting Team\n (\"LMPT\") offers multi-disciplinary expertise and is involved from\n pre-permitting to post-closure of mines. As Freegold moves into the\n preliminary economic assessment (PEA) stage of evaluation the\n engagement of the LMPT represents the next logical step in order to\n ensure the orderly development of the Golden Summit Project.\n\n\nRequests for Proposals for the completion of a PEA have been sent out to\n various engineering companies and Freegold expects to award the PEA\n contract in the near term with the aim of having the study completed\n during 2014.\n\n\nThe Golden Summit project currently hosts an NI 43-101 compliant\n indicated resource of 79,800,000 tonnes averaging 0.66 g/t Au for\n 1,683,000 ounces, and an inferred resource of 248,060,000 tonnes\n averaging 0.61 g/t Au for 4,841,000 ounces using a 0.3 g/t as a\n possible open pit cut off (June 2013). In addition the June resource\n also included an oxide component for the overall resource. The oxide\n resource was calculated to be 25,026,200 tonnes averaging 0.55 g/t Au\n for 439,000 ounces in the indicated category and 16,620,510 tonnes\n averaging 0.47 g/t for 253,000 ounces in the inferred category using a\n 0.20 g/t cut off. 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 a 13,000 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\nSince drilling began on the Dolphin/Cleary Resource area of the Golden\n Summit Project in 2011, Freegold has successfully increased the\n resource...