The drilling conducted in 2023 successfully demonstrated the potential for immediate expansion towards the west, with potentially higher grades. It is important to note that the Golden Summit already has a significant gold resource. However, the potential for higher grades at shallower depths to the immediate west is substantial and could significantly alter the overall project economics. Therefore, we are confident that targeting shallower, higher-grade mineralization before undertaking economic studies will unlock even greater value in this project. Drilling is expected to commence shortly.
Hole GS2337 was drilled at an azimuth of 315o to cross the Tolovana Vein swarm extensions to the southwest. The hole successfully intersected various zones of higher-grade mineralization.
HOLE | AZIMUTH | Dip | DEPTH (M) | FROM (M) | TO (M) | INTERVAL | AU G/T |
GS2336 | 360 | -55 | 831.3 | 15.9 | 31.1 | 15.2 | 0.52 |
166.1 | 218.5 | 52.4 | 0.59 | ||||
257.7 | 677.3 | 419.6 | 0.86 | ||||
including | 308.2 | 327.7 | 19.5 | 4.26 | |||
including | 308.2 | 311.2 | 3 | 25.3 | |||
including | 483.1 | 504.7 | 21.6 | 1.09 | |||
including | 521.8 | 558.4 | 36.6 | 2.86 | |||
including | 521.8 | 524.9 | 3.1 | 28.8 | |||
including | 655.9 | 677.3 | 21.4 | 0.75 | |||
708.7 | 726 | 17.3 | 0.86 | ||||
758.2 | 772.4 | 14.2 | 1.43 | ||||
GS2337 | 315 | -50 | 784.3 | 260 | 704 | 444 | 0.85 |
including | 341 | 354.7 | 13.7 | 1.21 | |||
including | 367.8 | 443 | 75.2 | 1.31 | |||
including | 367.8 | 369 | 1.2 | 20.2 | |||
including | 506 | 517 | 11 | 2.27 | |||
including | 552.1 | 575 | 22.9 | 0.94 | |||
including | 668 | 704 | 36 | 2.01 | |||
including | 668 | 671 | 3 | 13.45 |
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization |
The Tolovana vein swam lies within the three clear and immediate extensional geochemical trends identified: two south-southwest flanking trends and a clear east-west trend. The 2024 drill program will focus on exploring these identified trends.
2023 Drilling Demonstrated:
- The potential to further expand the resource along strike to the west within a 1.5-kilometre-long gold-in-soil geochemical anomaly with the potential to increase the overall resource grade at shallower depths;
- Defined boundaries of the existing resource and;
- Demonstrated the potential for the
Saddle Zone to host additional gold and silver mineralization.
Metallurgical work remains ongoing, and further metallurgical test work will be completed during the 2024 program to enhance the
A plan map showing the locations of the reported holes and the Section for GS2337 can be found here:
https://freegoldventures.com/site/assets/files/6287/gs2337-section.pdf
https://freegoldventures.com/site/assets/files/6287/gs-plan-04172024.pdf
A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by
A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.
The Qualified Person for this release is
Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. 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 programs. See
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