NYBob
15年前
FREEGOLD VENTURES LIMITED
FREEGOLD VENTURES LIMITED
http://www.cnxmarketlink.com/en/releases/archive/June2011/14/c5874.html
Attention Business Editors
Freegold to Drill Rob Project, Alaska in Summer 2011
VANCOUVER, June 14, 2011 /CNW/ - Freegold Ventures Limited (TSX: FVL,
Frankfurt: FR4N)("Freegold") is pleased to announce its summer exploration
program for the 19,000 acre Rob Project. The program will involve mapping,
sampling, and a diamond drill program to expand upon previously intersected
high grade zones and to test other strong geochemical anomalies over
bulk-tonnage targets which have not been tested to date.
Initial targets include the Michigan Zone where grab samples returned
values up to 971 g/t (28.33 opt) gold. Previous prospecting in the Michigan
area identified a large stock-work vein system over a 3,500 x 2,500 foot
area. Other target areas include the Blue Lead area where sampling of the
vein zone returned values of up to 871 g/t (25.24 opt) gold. Drilling at the
Grey Lead Zone in 2007/2008 returned several high grade intercepts including
17.5 feet grading 15.8 g/t (0.46 opt) and 18.7 feet grading 19.2 g/t (0.56
opt) and 11 feet grading 43.2 g/t (1.26 opt).
One of the new targets to be tested is the Hilltop Prospect which is
located 600 feet southeast of the Grey Lead and where grab sampling returned
values of 18.7 g/t gold with elevated levels of bismuth and tellurium similar
to that seen in the Grey Lead Vein. Historical sampling in this area returned
values of up to 101 g/t (2.96 opt) gold.
Vinasale Project, Alaska
A 5,000 metre drill program is currently underway. The program is aimed
at both upgrading and expanding the current 1.33 MOz (inferred) NI 43-101
compliant resource (37,260,000 tonnes grading 1.11 g/t ). (see news release
dated March 31st, 2011). In addition to the drill program an induced
polarization survey is being completed and is anticipated to help define other
areas that may be prospective to host additional mineralization outside of the
Central Zone. The Central Zone covers a 300 metre by 400 metre area and hosts
all of the current NI 43-101 compliant resource. The zone remains open in
three directions and to depth.
Golden Summit Project, Alaska
A 7,000 metre drill program is underway and is expected to be completed
by the end of June. Drilling in this phase is designed both upgrade the
resource category as well as expand the known resource to over one million
ounces. Early results indicate that the existing resource will be expanded
with this phase of drilling. The current total indicated resource is
7,790,000 mt @ 0.695 gpt for a total of 174,000 contained gold ounces. Total
inferred resource is 27,010,000 mt @ 0.61 gpt for a total of 526,000 contained
gold ounces. (see news release dated March 31st, 2011). The Golden Summit
project is located 5 miles to the north of Kinross Gold's Fort Knox Mine which
is currently producing 350,000 ounces per year at an average milling grade of
0.7 g/t
The Qualified Person for this release is Curt Freeman, MSc. who has
reviewed and approved the contents of this press release.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold
projects in Alaska.
Some statements in this news release contain forward-looking information,
including without limitation statements as to planned expenditures and
exploration programs. 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
To view this news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/June2011/14/c5874.html
-30-
/For further information:
Kristina Walcott-President and CEO Telephone: 1.604.662.7307
jkw@freegoldventures.com
/
More on this organization
FREEGOLD VENTURES LIMITED
NEWS RELEASES NEWS RELEASES (138)
QUOTES AND CHARTS: ITF.(TSX)
FGOVF(OTCBB)
NYBob
16年前
Freegold Closes $5.3 Million Private Placement
Dec. 24, 2010 (Canada NewsWire Group) --
VANCOUVER, Dec. 24 /CNW/ - Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) ("Freegold" or the "Company") is pleased to announce that it has closed its non-brokered private placement of 11,514,213 ("Units"), at an offering price of $0.46 per Unit, to raise gross proceeds of $5,296,538. Each unit consisted of one common share (a "Share") and one common share purchase warrant (a 'Warrant"). Each Warrant entitles the holder to acquire an additional Share at a price of $0.55 per share until December 15, 2011 and thereafter at a price of $0.65 per share until December 15, 2012. Freegold received shareholder approval of the issuance of the Warrants and the common shares underlying the Warrants by obtaining written consent of a majority of disinterested shareholders as required by the policies of the TSX.
Under the private placement, current Insiders purchased 113,043 Units which, assuming exercise of the Warrants, would result in 226,086 shares being issued to such Insiders, representing 0.9% of the then outstanding shares of the Company. A cash finder's fee of 10% was paid on a portion of the placement to arm's length finders. All securities issued bear resale restrictions until April 23, 2011.
The Company has also accepted the resignation of Mr. Mark Feeney from its Board of Directors. The Company wishes to thank Mr. Feeney for his contributions and wishes him the best in his future endeavours.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold projects in Alaska. In addition to the Golden Summit Gold Project, the company holds a 100% in lease interest in the Rob Gold Project near the Pogo Gold Mine in the Goodpaster Mining District of Alaska and has an exploration agreement with option to lease the Vinasale Gold project in central Alaska.
This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, anticipated future financing. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include uncertainties relating to the availability and timing of such financing and other factors. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
NYBob
17年前
Freegold Contemplates Private Placement
Tuesday May 26, 2009, 4:30 pm EDT
VANCOUVER, May 26 /CNW/ -
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) announces that is in discussions with various parties, including insiders of the Company, with respect to a proposed private placement for up to $300,000. Terms of the private placement have not been settled but any such placement would be subject to the pricing and other rules of the Toronto Stock Exchange and regulatory approval. No assurance can be given that the financing will be completed. Proceeds of the placement, if completed, will be used for general working capital purposes.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in southern Idaho, a 93% interest in the Golden Summit gold project outside Fairbanks, Alaska, and near the Fort Knox gold mine, a 100% interest in the Rob gold project near the Pogo gold mine in the Goodpaster Mining District of Alaska, and has an exploration agreement with option to lease the Vinasale gold project in central Alaska.
This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, anticipated future financing. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include uncertainties relating to the availability and timing of such financing and other factors. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
For further information
Mark Feeney - Investor Relations, (604) 786-2587, mfeeney@freegoldventures.com
NYBob
17年前
Freegold Management Change
Friday May 8, 2009, 4:45 pm EDT
VANCOUVER, May 8 /CNW/ -
Freegold Ventures Limited
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) announces that Steve Manz has resigned as /President and Chief Executive Officer and a director of Freegold.
As indicated in its recent news releases, the Company is currently pursuing a number of alternatives in order to satisfy its various debt obligations and to provide additional working capital to the Company, as it currently does not have the ability to repay its existing secured loans. These include ongoing discussions with parties that have expressed an interest in the possible purchase of individual projects and in the possibility of business combinations. There is no assurance that the Company will be able to successfully conclude any such transaction or arrange financing sufficient to satisfy its creditors.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in southern Idaho, a 93% interest in the Golden Summit gold project outside Fairbanks, Alaska, and near the Fort Knox gold mine, a 100% interest in the Rob gold project near the Pogo gold mine in the Goodpaster Mining District of Alaska, and has an exploration agreement with option to lease the Vinasale gold project in central Alaska.
For further information
Mark Feeney, Investor Relations, (604) 786-2587, mfeeney@freegoldventures.com
NYBob
17年前
Freegold Receives Additional Bridge Loan Extensions
Monday February 23, 2009, 5:00 pm EST
VANCOUVER, Feb. 23 /CNW/ -
http://finance.yahoo.com/news/Freegold-Receives-Additional-cnw-14444589.html
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce that it has reached an agreement with its bridge lenders to further extend the maturity date of its US $4.1 million in bridge loans to July 15, 2009. As consideration of these extensions, the interest rate on the two loans is being increased from 12.5% to 15.0%, and the lenders will be receiving extension fees consisting of 720,000 common shares of the Company, 1 million warrants to purchase common stock of the Company for a two year period at a price of C $0.25/share, and a cash fee equal to 3% of loan principal, payable upon the earlier of the receipt of new financing or March 31, 2009.
Negotiations are continuing with Freegold's equipment lenders regarding certain waivers required to maintain the original May 30, 2010 maturity date, and to remove an early repayment right that was provided to the equipment lenders (see released dated May 20, 2008). This US $1.79 million loan was put in place to allow the Company to complete its purchase of equipment for its 1,200 ton per day portable processing plant, and is secured by 302 acres of private property which was purchased adjacent to the Golden Summit property, and all of the Company's processing equipment at Golden Summit, which includes a crushing circuit (primary impact crusher and secondary cone crusher), a grinding circuit (3 ball mills), a gravity-based gold recovery circuit (4 Knelson concentrators), 1.2 MW of portable diesel power generation, plus assorted support and materials handling equipment.
Steve Manz, President and CEO of Freegold, commented "We are grateful that our bridge lenders have provided us with the additional time we need in which to refinance the Company. We are continuing to assess a variety of funding alternatives, and are pleased to see a definite turn in the market with an increase in the number of junior gold explorers recently having raised fresh debt and equity in this rising gold market. We continue to believe that our portfolio of North American-based gold projects are among the best advanced-stage projects currently being explored within the junior resource sector. Although our efforts over the past few months have focused on our refinancing, we have continued to compile and assess the results from our extensive work programs in 2008, and will be providing new project updates shortly."
The foregoing is subject to execution of definitive documentation and
regulatory approval.
"Steve Manz"
Steve Manz, President and CEO
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in southern Idaho, a 93% interest in the Golden Summit gold project outside Fairbanks, Alaska, and near the Fort Knox gold mine, a 100% interest in the Rob gold project near the Pogo gold mine in the Goodpaster Mining District of Alaska, and has an exploration agreement with option to lease the Vinasale gold project in central Alaska.
DISCLAIMER - This press release contains "forward-looking information" within the meaning of Canadian securities laws including, without limitation, statements and information regarding the Company's exploration operations and financing needs. Such forward-looking information reflects the current expectations or beliefs of the Company. Forward-looking information is subject to a number of risks, assumptions and uncertainties that may cause the actual results of the Company to differ materially from those discussed herein, including the possibility that future exploration results will not be consistent with the Company's expectations, the uncertainties involved in interpreting exploration results, other inherent risks in the mineral exploration and development industry, the possibility that the proposed loan extensions described herein will not be completed or completed on terms not currently contemplated by the Company and the possibility that the Company may not be able to raise additional financing required to satisfy its obligations to its lenders and to fund operations. Readers are cautioned not to place undue reliance on forward-looking information because it is possible that expectations, predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. A change in any one of these factors could cause actual events or results to differ materially from those projected in the forward-looking information. Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements and information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. The forward-looking statements and information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified herein, the Company has made assumptions regarding, among other things, the ability to conduct exploration activities in a timely manner and in accordance with the Company's drilling program, the availability and costs of financing, the degree of risk that credit approvals may be delayed or withheld, and other risks and uncertainties described elsewhere in this document or in the Company's other filings with Canadian securities authorities. Such forward-looking information speaks only as of the date on which it is made and, unless required by applicable securities laws, the Company undertakes no obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. CUSIP: 45953B107
For further information
Mark Feeney - Investor Relations, (604) 786-2587, mfeeney@freegoldventures.com
NYBob
18年前
Freegold Closes Second $2 Million Tranche of Financing -
Monday August 25, 9:29 am ET
VANCOUVER, Aug. 25 /CNW/ -
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce that it has closed its second tranche of US $2 million in financing. This financing has been provided by Tiomin Resources Inc. and has been conducted on the same terms as the first tranche of $2 million (see release dated July 30, 2008) which closed on July 31, 2008, bringing the total proceeds under this financing to $4 million. Tiomin Resources Inc. is a mining company traded on the TSX with three main assets: $23.7 million of cash, a 49% interest in the Pukaqaqa copper and gold project in Peru and currently 100% interest in the Kwale titanium project in Kenya. Further information on Tiomin and its participation in Freegold's financing can be found at www.tiomin.com.
http://biz.yahoo.com/cnw/080825/freegold_financing.html?.v=1
The Qualified Person with respect to scientific and technical information contained herein is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited, who has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that has a proven track-record in transitioning exploration companies into gold producers. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has finalized a 54,700-foot drilling program which has successfully identified numerous extensions to the gold mineralization, along with newly identified open-ended areas of molybdenum mineralization. The Company is in the process of generating a new 43-101 resource which will be followed with the commencement of new economic evaluations. Freegold's 40,100-foot drill program in 2007 continued to discover new high-grade veins and bulk tonnage shear zones on its 93% controlled Golden Summit project outside Fairbanks, Alaska. Historically over 6.75 million ounces have been recovered from streams that drain the Golden Summit project area and an additional 500,000 ounces of lode gold were recovered from past producing mines on the Golden Summit project which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. Further evaluation and expansion of the mineralization is currently being undertaken with a combination of closely spaced shallow drilling, deeper, systematic core drilling and on-going bulk sampling program using an on-site gravity-based concentration plant. Drilling in 2008 is also being conducted on the company's 100% controlled Rob property, where the Company has intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo. Work programs are also planned on the Vinasale property, where the Company has entered into an exploration agreement with option to lease which contains the previously identified Vinasale gold deposit.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz, President and C.E.O.
DISCLAIMER - This press release contains "forward-looking information" within the meaning of Canadian securities laws including, without limitation, statements and information regarding the Company's exploration operations and financing needs. Such forward-looking information reflects the current expectations or beliefs of the Company. Forward-looking information is subject to a number of risks, assumptions and uncertainties that may cause the actual results of the Company to differ materially from those discussed herein, including the possibility that future exploration results will not be consistent with the Company's expectations, the uncertainties involved in interpreting exploration results, other inherent risks in the mineral exploration and development industry and the possibility that the loan facilities will not be completed or completed on terms not currently contemplated by the Company. Readers are cautioned not to place undue reliance on forward-looking information because it is possible that expectations, predictions, forecasts, projections and other form of forward-looking information will not be achieved by the Company. A change in any one of these factors could cause actual events or results to differ materially from those projected in the forward-looking information. Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements and information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. The forward-looking statements and information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified herein, the Company has made assumptions regarding, among other things, the ability to conduct exploration activities in a timely manner and in accordance with the Company's drilling program, the availability and costs of financing, the degree of risk that credit approvals may be delayed or withheld, and other risks and uncertainties described elsewhere in this document or in the Company's other filings with Canadian securities authorities. Such forward-looking information speaks only as of the date on which it is made and, unless required by applicable securities laws, the Company undertakes no obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. CUSIP: 45953B107
For further information
Mark Feeney - Investor Relations, (604) 786-2587, mfeeney@freegoldventures.com
Source: Freegold Ventures Limited
http://biz.yahoo.com/cnw/080825/freegold_financing.html?.v=1
God Bless
NYBob
18年前
Freegold Recommences Processing of Bulk Samples with Enhanced Gravity Plant at Golden Summit
Friday June 13, 3:01 am ET
VANCOUVER, June 13 /CNW/ -
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce the resumption of its seasonal bulk sampling program at the Golden Summit project located outside Fairbanks, Alaska. Commencement of this first full processing season follows the recent purchase and installation of additional processing equipment to enhance the crushing and grinding capabilities of the Company's gravity-based gold recovery plant. The decision to expand the plant was made upon the completion of comprehensive metallurgical testing over the winter which showed that significantly higher gold recoveries can be expected with smaller-sized material processed through the plant. Recoveries ranging from 80 to 95% have been achieved on 17 bulk sample composite samples that have been reduced to a particle size in the laboratory that is reflective of the new crushing and grinding capabilities of the plant.
With composite head grades ranging from 1.9 g/t (0.055 oz/ton) to 44.6 g/t (1.3 oz/ton), the high gravity recoveries seen across all sample grades reconfirms the coarse nature of the gold seen in the previous test work and in the initial gravity concentration work.
The primary purposes of the bulk-sampling program at Golden Summit are to determine the continuity of gold mineralization found within numerous gold-bearing shear zones that were discovered and delineated through trenching and shallow RAB drilling over the past two years, and to generate cash flow from the on-site gravity concentration of the gold found in this material. Following the receipt of permits in May 2007, Freegold commenced construction of a portable gravity-based gold concentration plant capable of processing up to 1,200 tons of mineralized material per day. The plant was transported to Alaska last summer and following assembly, became operational in September 2007. Following approximately 4 weeks of increasing through-put up to its design capacity, the processing operations were halted in October with the on-set of freezing temperatures.
As the Company was unable to source a secondary crushing plant last year, the primary crushing circuit was modified to operate in a closed loop to try and achieve the required minimum crush size. Unfortunately, this configuration did not consistently generate the required feed size which in turn negatively impacted the gold recovery and processing rates. Gold recovered in concentrates during the initial processing period were utilized for subsequent test work to optimize re-grind and final concentration methods. Although initial recovery was below expectations given the insufficient crushing capability, the majority of the gold remains contained within the coarse tailings that were separated and stockpiled adjacent to the plant, and which will be the first material to be processed this season with the newly modified plant. Further details on the bulk sampling program, including an overview of the location, volume and grades of materials sampled to date, and an overview on the sampling locations and volumes estimated for 2008 will be provided in the Company's next release.
2008 Metallurgical Testing
During the winter season, Freegold conducted an expanded and systematic program to supplement the preliminary gravity recovery test-work undertaken by McClelland Laboratories and the Knelson Research and Technology Centre in 2007. Freegold's program involved testing composite samples from each of the different mineralized rock types collected in prior bulk sampling to determine how gravity-based gold recoveries vary by particle feed size. Composites ranging from 20 to 50 kilograms were generated from both bulk sample stockpiles as well as from bulk sample working faces in the various bulk sample test areas. The samples were crushed to minus 1/4", and then split for head analyses sieve analyses and metallurgical testing. A total of 17 composite samples were generated, with head grades ranging from 0.055 oz/ton (1.9 g/t) to 1.3 oz/ton (44.6 g/t) and averaging 0.27 oz/ton (9.1 g/t). The crushed material was subsequently ground to various size fractions using a laboratory scale ball mill, and the ground products were then run through a 4 inch Knelson concentrator. The calculated head grades and gold recoveries from these samples were determined in order to plot the gold recovery versus particle size for each of the samples. This test work has re-confirmed the coarse particle size of the gold being sampled at Golden Summit, with recoveries ranging from 80 to 95 percent using relatively coarse grinding (65 to 80 mesh). Additional cleaner gravity concentration tests were also completed, indicating that a number of the rock types will be capable of producing a direct smelt concentrate by sending the rougher concentrates through the regrind circuit and the 12-inch Knelson concentrator.
Equipment Purchases and Plant Modifications
Given the higher recoveries indicated by the smaller sized feed material, Freegold has purchased and installed additional crushing and grinding equipment over the past few months. Freegold's first purchase was a used 500 ton/day mill from a site located 15 miles from the Golden Summit project. Several pieces of equipment from this mill, including 4' X 4' and 4' X 8' ball mills, a 2' X 3' regrind mill, plus miscellaneous hydrocyclones, slurry pumps, motors, conveyors and tanks, have already been dismantled and moved from the plant site and reinstalled into Freegold's current gravity circuit. In addition, the purchase included a complete flotation plant (including conventional rougher, scavenger and cleaner flotation cells, a 15' thickener, a disk filter, several agitation tanks, and a complete motor control center). Although this additional equipment is not needed for the Golden Summit circuit, Freegold will continue to store these valuable assets.
In order to enhance its crushing capabilities, Freegold also purchased a 2007 Nordberg portable closed circuit cone crushing plant with an integral 6' X 20' triple deck screen and conveying system for incorporation into the crushing circuit as the secondary crusher. The crushed and screened product from the crushing circuit (primary impact crusher and secondary cone crusher) will be discharged to a radial stacker and subsequently be fed to the processing plant where it will pass through the primary 4' X 4' mill where it will be slurried and given a rough grind. The material passing 65 mesh (210 microns) will be sent to the Knelson concentrators with the oversize being sent to the secondary 4' x 8' mill for additional closed circuit grinding that is expected to reduce the material to a size of 80% passing 65 mesh. The ground feed will then be pumped through a series of rougher and scavenger Knelson concentrators for final gravity concentration.
Data from the ongoing test-work and the initial processing are being used to develop MetSim models for each mineralized rock type which will be used to determine optimal plant configurations. Because the ball mills and Knelson concentrators are skid mounted and modular, it is possible to change the plant arrangement in only a few hours to optimize plant configuration for various rock types. Freegold has also purchased and installed three portable diesel-fuelled generators that are capable of generating up to 1.4 MW to provide electrical power to the processing plant.
Loan Closing
Freegold is also pleased to report that it has successfully closed its US $1,791,000 convertible loan facility that was reported on May 20, 2008. This loan is collateralized against the bulk sampling process equipment and the privately held land adjacent to the Golden Summit property upon which the equipment sits, carries an interest rate of 4%, and is convertible at the option of the lenders into Freegold common shares at a conversion price of US $1.23/share.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production, and that has a proven track-record in transitioning exploration companies into gold producers. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program which has successful identified numerous extensions to the gold mineralization, along with newly identified open-ended areas of molybdenum mineralization. The Company is in the process of generating a new 43-101 resource which will be followed with the commencement of new economic evaluations. Freegold's 40,100-foot drill program in 2007 continued to discovery new high-grade veins and bulk tonnage shear zones on its 93% controlled Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. Further evaluation and expansion of the mineralization is currently being undertaken with a combination of closely spaced shallow drilling, deeper, systematic core drilling and on-going bulk sampling program using an on-site gravity-based concentration plant. Drilling in 2008 will also be conducted on the company's 100% controlled Rob property, where the Company has intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo, and on the Vinasale property, where the Company has entered into an exploration agreement with option to lease on a 140,000 acre property in Alaska which contains the previously identified Vinasale gold deposit.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz, President and C.E.O.
DISCLAIMER - This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission. The TSX has neither approved nor disapproved the contents of this news release. CUSIP: 45953B107
For further information
Mark Feeney, Investor Relations, (604) 786-2587, mfeeney@freegoldventures.com
http://biz.yahoo.com/cnw/080613/freegold_goldensummit.html?.v=1
NYBob
18年前
Freegold Drilling to Focus on Expanding Pogo-Style High-Grade Gold Veins at Rob
Monday March 31, 10:52 am ET
VANCOUVER, March 31 /CNW/ -
http://biz.yahoo.com/cnw/080331/freegold_rob_drilling.html?.v=1
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased
to announce its 2008 work plans for its 100% leased
Rob property in the interior of Alaska.
The program will include ground geophysics, geologic mapping
and additional core drilling to trace and expand the
high-grade gold mineralization intersected in all eight of
its core holes drilled into the Gray Lead vein last summer
(including 29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet),
as well as additional mapping, geophysics and drilling
on numerous other targets on strike and parallel to
the Gray Lead vein.
The gold-bearing veins encountered to date on the property
share many geological similarities to those currently
being mined 20 miles to the west at
the 350,000 to 450,000 oz/year Pogo gold mine,
and the numerous untested targets on the property that
contain high-grade gold in surface grab sampling similar
to those which identified the Gray Lead vein, will also be
the subject of the upcoming exploration programs.
Although Freegold acquired its initial interest in
the Rob property in 2002, it was not until last year that
the Company conducted its first drilling program at
the property, given the focus that the new management team
had initially given to the more advanced
Almaden and Golden Summit properties.
Since the opening of the nearby 5.6 million oz Pogo gold mine
in 2006, the Goodpastor Mining District has received
considerable investor attention, most notably with
the consolidation of a 513,000 acre land package through
staking and joint venturing by Goldcorp founder Rob McEwen.
This large land package (subsequently merged into Rubicon
Minerals) surrounds the Pogo mine and the Rob property,
and was acquired due to the shared belief that the gold
mineralization at Pogo is not a unique occurrence in
the district.
Freegold's initial drilling last year confirmed this to be
the case with the intersection of high-grade gold
mineralization in a similar vein hosted within the same
gneissic dome that hosts the mineralization at Pogo.
The 2008 work, consisting of mapping, ground geophysics
and drilling, will commence following the snow melt in mid
to late May and will initially focus on the Gray Lead vein.
Eight holes (1,529 feet) were drilled into Gray Lead last year
from two drill pads that identified the gold mineralized
quartz vein over a strike length of 170 feet
(the distance between the 2 drill pads) and a down dip length
of 240 feet (the deepest hole to intercept the vein).
Gold mineralization within the vein (which has a variable
true width averaging in excess of 10 feet) remains open in
all directions, and exhibited grades similar to the initial
grab samples taken by Freegold in 2002, 2006 and 2007 (which
included 7.4, 9.4, 17.1, 28.8, 20.5, 49.8 and 72.2 g/tonne).
Results from this drilling can be found in the
October 11, 2007 news release.
The initial work at Gray Lead will be mapping and ground-based geophysics aimed at tracing the vein further along strike followed by an initial 3,000 feet of core drilling which is expected to start at the beginning of July. Step-out drilling of 175 feet in both the north and south directions along strike will test the vein over a strike length in excess of 500 feet. Deeper holes will also allow the down dip extension of the vein to be tested to a depth of approximately 400 feet.
Approximately 2,000 feet of drilling will also be undertaken on the Michigan prospect. This prospect lies approximately 2 miles to the northeast of Gray Lead and is situated on strike and on the same mapped geological structure which hosts Gray Lead. Previous surface mapping has shown that the Michigan prospect appears to be a series of intrusive hosted mineralized structures rather than a single vein at this location. This area has never been drill tested, and previous grab sampling by Freegold in this area has returned assays of 0, 2.4, 2.9, 6.4, 11.5, 24.3, 29.8, 120.6, 175.1 and 698.9 g/tonne (information concerning these samples can be found in the August 30, 2007 news release.) Drilling is expected to be from three fences approximately 175 feet apart that will test the target to a depth of at least 300 feet.
Exploration will also be conducted on other target areas on the property including the Grizzly and Blue Lead veins (which appear to be the same structure), the Upper and Lower Trench prospects, the Wolverine prospect and several other areas of mineralization identified by previous exploration work. As seen below, grab samples from these prospects have also returned excellent gold grades, and 2008 surface work will be used to guide future drill testing.
-------------------------------------------------------------------------
Gold Gold Gold Gold
Year Grade Grade Year Grade Grade
Prospect Sampled (g/t) (oz/t) Prospect Sampled (g/t) (oz/t)
-------------------------------------------------------------------------
Hilltop 2002 8.7 0.25 Blue Lead 2006 46.7 1.36
-------------------------------------------------------------------------
Upper Trench 2002 8.8 0.26 Blue Lead 2006 1.1 0.03
-------------------------------------------------------------------------
Lower Trench 2002 15.4 0.45 Blue Lead 2006 19.6 0.57
-------------------------------------------------------------------------
Lower Trench 2002 14.4 0.42 Blue Lead 2006 0.2 0.004
-------------------------------------------------------------------------
Lower Trench 2002 22.3 0.65 Grizzly 2007 31.8 0.93
-------------------------------------------------------------------------
Blue Lead 2006 23.5 0.69
-------------------------------------------------------------------------
Freegold President and CEO, Steve Manz stated "We have been very fortunate to have secured the drill rigs we need for our various programs for this year, and 2008 is expected to be our most active year ever in terms of the number of drilling programs being undertaken on all of our properties. We are very excited about the new drilling at Rob in the coming months, and hope that the high grade grab samples we have previously collected at the other prospects on this 4 mile long property are as indicative of the high-grade vein mineralization underneath as they were at Gray Lead. Drilling at Golden Summit continues to go extremely well, and initial results from this work are expected shortly".
Assay results for grab and core samples cited herein were obtained from samples collected by Avalon Development Corporation, consultants to Freegold, under the supervision of Curt Freeman, MS., PGeo, Qualified Person as defined by NI 43-101. Alaska Assay Laboratories in Fairbanks, Alaska was used to analyze the drill core and grab samples collected in 2006/2007 via fire assay analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion. The grab samples in 2002 were submitted to ALS Chemex in Fairbanks, Alaska (prep) and Vancouver, B.C. (analytical) for fire assay analysis for gold plus multi element ICP-AES analysis using 4 acid digestion. Given the high-grade results returned from many of the core fire assays, samples which returned grades in excess of 1 g/t were re-analysed using the metallic sieve method. On average, the met screen results were 7.4% higher than those generated by fire assay, and a simple scatter plot of the data showed a relatively linear pattern centred on the 1:1 correlation line, suggesting that there is no predictable nugget effect and that the results can be seen as reliable.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit, and newly identified open ended areas of molybdenum mineralization continue to be encountered along with the gold in the northern portions of the deposit.
Freegold's 40,100-foot drill program has resulted in the discovery of new high-grade veins and bulk tonnage shear zones on its Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. In order to further evaluate the mineralized zones delineated to date, an on-site seasonal bulk sample processing plant using a gravity-based concentration was constructed. Exploration is ongoing as the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping.
Exploration in 2007 included an airborne geophysical survey and surface sampling program on the 140,000 acre Vinasale property which contains the Vinasale gold deposit and drilling on the Rob property in Alaska, which intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo mine.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
For further information
Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
Source: Freegold Ventures Limited
http://biz.yahoo.com/cnw/080331/freegold_rob_drilling.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=6526
NYBob
18年前
Freegold Commences 40,000 foot Phase 2 Expansion Drill Program
at Golden Summit -
Wednesday February 27, 9:15 am ET
VANCOUVER, Feb. 27 /PRNewswire-FirstCall/ -
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to
announce the first of a series of drilling programs
that will be undertaken on its projects this year.
Each program is designed to further delineate and extend
the new, open-ended mineralized zones intersected in
the 2007 programs, and to continue to expand and
further upgrade the Company's gold resources.
The first program to be undertaken is a 40,000 foot
Phase 2 continuation of the systematic RAB drill program
that was conducted from December 2006 through November
2007 on the Golden Summit project -
outside Fairbanks, Alaska.
This program consisted of 674 (40,093 feet) shallow,
closed spaced vertical holes that were drilled in
north-south oriented lines of holes at various locations
along a mile wide east-west oriented area of gold
mineralization in the vicinity of the historic -
Cleary Hill Mine.
This area was seen to contain broad and continuous
gold-bearing shear zones over the entire mile length
and over a maximum tested width of 1,500 feet.
The mineralization identified in this first phase of
drilling remains open in all directions.
This mineralized area is comprised of multiple 100 to 300
foot wide parallel shear zones that can be traced from
drill fence to fence.
The shears themselves contain multiple high grade narrow
veins (which was the focus of historical underground
mining in the camp) surrounded by lower grade
mineralization, that in its entirety, presents
attractive bulk mineable, open pit mineralized targets.
As seen in Figure 1
the initial fences were drilled in the eastern half of
the area, starting in the vicinity of -
the old Beistline shaft, where trenching, stripping and
the first bulk sampling initially revealed the potential
bulk mineable nature of the gold mineralization.
As the first fences ended with good gold mineralization
in the holes at the northern and southern ends, subsequent
fences were drilled over progressively longer lengths as
they moved westward.
These initial fences were drilled as 500 foot step-outs
until Fence 5 (covering 1,725 of width) which contained
multiple 100 to 275 foot wide zones, each averaging more
than 1 g/t over the maximum 78 foot depth capability of
the RAB drill.
Fence 6 was a subsequent 2,300 foot step out to the west
testing a particular shear target with shorter fence lengths.
This particular shear was then traced back to the east in
Fences 7, 8, 16-19 where it is now appears to be trending
into the heart of the main vein swarm south of
the Cleary Hill mine.
The Phase 2 drilling, which will continue to use the same
percussion blast-hole drill equipped with an OEM dust
and drill cutting collector, is designed to test and
delinate multiple expansion targets.
As Phase 1 drilling encountered high-grade intercepts
over significant widths at or near surface in many of
the fences (e.g. 9' @ 28.5 g/t (Fence 15),
3' @ 33.9 g/t (Fence 9),
6' @ 23.4 g/t (Fence 3),
9' @ 25.3 g/t (Fence 5), and
3' @ 34.8 g/t and 15' @ 19.6 g/t
in the Beistline area),
the first fences in Phase 2 are designed to test
the continuity of some of the wider, higher grade areas
of gold mineralization along strike.
Drilling has now commenced with short fences of holes
(Fence 24) stepping out from 75 to 150 feet on either
side of multiple higher-grade mineralized intercepts
encountered in Fence 4 (e.g. 6' @ 20.5 g/t ,
including 3' @ 36.2 g/t (hole 191),
6' @ 15.0 g/t,
including 3' @ 22.2 g/t (hole 194),
and 3' @ 19.3 g/t (hole 196)).
Logging of drill cuttings recovered from holes already
completed is identifying visible gold in some of the
drill holes, indicating that these higher grade shears
and veins zones may have continuity along strike.
Subsequent fences will be drilled in the Tolovana mine -
area on the western end of the zone.
Since the original fences in this area only tested
the mineralized zone over widths of approximately 100 feet,
two of the Fences (6 and 17) will each get extensions
to the north and south (Fences 6 N and 17 N extensions
plus Fences 22 and 23 to the south) totaling an extra
1,000 feet to determine if the same width of
mineralization seen in Fence 5 continues to the west.
Fence 20 will then be drilled over a length of 1,750 feet
to cover the last large gap between Fences 5 and 19.
These three fences were bulldozed to bedrock last fall
before freeze-up in order to facilitate the commencement
of winter drilling.
Numerous areas of quartz veining and alteration were seen
in this stripping, and significant grab samples taken
at surface along the area to be drilled
include 5.2 and 80.5 g/t along Fence 20,
and 7.5, 8.3, 12.3 and 23.7 g/t along Fence 22.
Following completion of extensional and in-fill drilling
on the western side of the zone, RAB drilling will move
back to the eastern Beistline area.
Fence 25 will test for additional parallel vein swarms
over a distance of 500 feet to the south of where the
previous RAB drilling and bulk sampling ended in
gold mineralization.
This will be followed by Fence 26, an 800 foot eastward
step out that will be the first systematic exploration
east of the Beistline shaft area to determine if the
vein swarm continues in this direction.
If this step out is successful, plans for additional step
outs to the east will be developed.
In addition to this ongoing RAB drilling (which is continuing
to be viewed as a cost effective exploration tool to
determine the areal extent of mineralization in this area),
the Company will also be conducting a deeper core drilling
program that will provide the first systematic testing of
this gold mineralization to depth, and provide the
Company with the first opportunity to begin determining
the resource potential in this Cleary Hill mine area.
Detailed information on this drill program, an update
on initial Golden Summit bulk sampling results,
and information on drill programs currently planned
on our other Alaskan projects will be reported shortly.
True widths of the veins reported in this release are
variable, as the orientation of the various mineralized
structures encountered throughout the drilling is variable.
Drilling is currently being conducted with an
Ingersol-Rand conventional percussion drill.
Cuttings are returned up the drill hole with the use of an
OEM vacuum drill cuttings collector, and are dropped from
a cyclone directly into a sample bag.
Samples are collected every three feet, with the drill
bit being pulled off the bottom and the hole cleaned
at the completion of each sample interval.
Freegold maintains a geologist and sampler at the drill rig
for all drilling to take and log all samples to insure
that quality assurance and control procedures are in
accordance with 43-101 requirements.
One duplicate assay is conducted in every drill hole and
either a blank or a standard is inserted in the sample
stream every 10 samples.
Alaska Assay Laboratories in Fairbanks, Alaska is being used
to analyze the drill cuttings for gold via fire assay
analysis plus multi element ICP-AES and ICP-MS analysis
using 4 acid digestion.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration
and development company with a management team experienced
in mine development and production that is actively
exploring advanced-stage gold projects in Idaho and Alaska.
Freegold holds a 100% lease interest in
the Almaden gold project in Idaho.
This large tonnage epithermal gold deposit was the subject
of a feasibility study in 1997 calling for the development
of a 95,000 oz/year open pit, heap leach mine.
Freegold has recently finalized a 54,700-foot drilling
program aimed at further expanding the size of the
resource and is in the process of generating a
new 43-101 resource prior to undertaking new
economic evaluations in 2008.
Drilling at depth and to the north and south of the
known mineralization is continuing to identify new
extensions to the deposit, and newly identified open
ended areas of molybdenum mineralization continue to
be encountered along with the gold in the northern
portions of the deposit.
Freegold's 40,100-foot drill program has resulted in
the discovery of new high-grade veins and bulk tonnage
shear zones on its Golden Summit project -
outside Fairbanks, Alaska.
Over 7 million ounces of gold has historically been
recovered from Golden Summit which is situated less
than 5 miles to the north of the +7 million ounce
Fort Knox Mine.
In order to further evaluate the mineralized zones
delineated to date, on-site seasonal bulk sample
processing using a gravity-based concentration plant
has commenced.
Exploration is ongoing as the Company continues to
define additional areas of larger, lower grade
mineralization through on-going drilling and stripping.
Exploration has also commenced on the Vinasale property
in Alaska, where geophysical and surface sampling
programs have recently been completed on this 140,000 acre
property which contains the Vinasale gold deposit, and on
the Rob property in Alaska, where recent drilling has
intersected high-grade gold (29.0 g/t over 13 feet and
20.1 g/t over 13.5 feet) in near surface quartz veins
similar in appearance and grade to those being mined at
the nearby 5.6 million ounce Pogo mine.
The Qualified person for this release is Michael P. Gross,
M.S., P.Geo, VP Exploration, Freegold Ventures Limited.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT:
Kristina Walcott, VP Corporate Development,
(604) 662-7307,
jkw@freegoldventures.com
Source: Freegold Ventures Limited
http://investorshub.advfn.com/boards/board.asp?board_id=6526
NYBob
19年前
BTV-Business Television Features Freegold Ventures, and Astral Mining, Analysts: John Embry and Eric Coffin
View the Features Online Through the Video Links Below
VANCOUVER, B.C., Oct. 18, 2007 (PRIME NEWSWIRE) -- On Oct 20th and Oct 21st, 2007 -- on National TV, BTV-Business Television profiles:
John Embry from Sprott Asset Management gives investors advice on gold: http://www.b-tv.com/i/videos/JohnEmbryep171.wmv
Eric Coffin from the Hard Rock Analyst gives investors advice on the markets: http://www.b-tv.com/i/videos/EricCoffinep171.wmv
Freegold Ventures Ltd. (TSX:ITF): http://www.b-tv.com/i/videos/Freegold.wmv -- a gold exploration company with a new production-oriented management team. Freegold has discovered new high-grade veins in surface trenching at its Golden Summit project outside Fairbanks, Alaska.
Astral Mining Corp. (TSX-V:AST): http://www.b-tv.com/i/videos/Astral.wmv -- a junior exploration company focused on identifying high potential gold and silver deposits. Astral discovered a high grade gold zone on its Jumping Josephine property in British Columbia's Rossland mining district.
BTV, a half-hour weekly business program, profiles emerging publicly trading companies across Canada and the USA. With Host Taylor Thoen, BTV features companies at their location, interviews the company's key executives, features their products and services, and unveils their plans for future growth.
http://www.freegoldventures.com
http://investorshub.advfn.com/boards/board.asp?board_id=6526
NYBob
19年前
Freegold Drilling Hits High-Grade Gold at Rob - 29 g/t Over 4 m
Thursday October 11, 8:26 am ET
<< ------------------------------------------------------------------------- - Grey Lead prospect drill results include 13.5 foot interval averaging 20.1 g/t and 13 feet averaging 29.0 g/t
- Gold mineralization remains open to depth and along strike
- 2008 exploration program to include drilling on multiple targets ------------------------------------------------------------------------- >>
http://www.freegoldventures.com
VANCOUVER, Oct. 11 /CNW/ -
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results of a 17 hole diamond drill program conducted this summer on its Rob property in Interior Alaska. A total of 3,514 feet were drilled in the Grey Lead and O'Reely vein prospects following the receipt of significant gold assays from a limited surface sampling program (see August 30, 2007 news release for results). Although drilling within the O'Reely vein did not intersect the multi-ounce values sampled at surface, holes within the Grey Lead vein consistently intersected thick intervals of high-grade gold mineralization that exhibit geological and geochemical characteristics very similar to those seen at the 5.6 million ounce Pogo gold mine.
High grade gold mineralization was previously identified in the Grey Lead vein in the late 1990's with one hole intersecting 31.5 g/t over 13.5 feet (note: this historical intercept is non-43-101 compliant and should not be relied upon). Freegold's drilling was designed to confirm the interval intersected in historical drilling and to determine the strike and dip of the Grey Lead vein using multiple dip angles from separate drill platforms.
A total of 8 holes (numbers 6, 7, and 12-17, totaling 1,529 feet) were drilled at the Grey Lead vein from two separate drill pads located approximately 170 feet apart. All of the holes intersected a sugary textured quartz vein, containing fine-grained bismuthinite and arsenopyrite, within a biotite augen paragneiss host rock. The true width of the vein is variable but averages in excess of 10 feet. Holes 6 and 7 were drilled to the east at dips of 61 and 76 degrees respectively, and were designed to intersect the vein where it was previously identified in the 1999 drilling. Hole 6 intersected the vein at a depth of 154 feet and returned a 16.5 foot interval averaging 6.7 g/t, including a 2.5 foot section grading 23.1 g/t. Gold mineralization further down the hole at a depth of 221 feet, returned a 13 foot interval grading 0.7 g/t in Hole 7.
Holes 12 through 17 were drilled as step-out holes from a second pad located a further 170 feet to the northeast. The location of the second pad further to the east as well as to the north was to ensure that the shallower dipping holes would intersect the vein closer to surface. Holes 12, 13, 14 and 15 were drilled to the east at angles of 45, 60, 71 and 90 degrees respectively to intersect the vein. Hole 17 was drilled in the opposite direction at a dip of 75 degrees, and was designed to intersect the vein further at depth after it crossed west of the drill pad. Hole 16 was drilled at a similar angle and dip as hole 12, and was designed to extend a hole further to the east to try and hit a fault structure that had been mapped at surface.
Holes 12 and 16, which traveled through the vein at roughly the same location, were also used to test the variability of the vein via twinning. The intercepts in these two holes compared very well, with hole 12 returning 14.5 feet with an average grade of 9.0 g/t while hole 16 returned 14 feet averaging 7.9 g/t. Holes 13 and 14 intersected substantially higher grade material, returning 13.5 feet averaging 20.1 g/t and 13 feet averaging 29.0 g/t respectively. Higher grade intervals included 1.5 feet (at) 32.3 g/t, 1 foot (at) 135.7 g/t and 2.5 feet (at) 23.73 g/t in hole 13 and 3.6 feet (at) 89.0 g/t in hole 14. Holes 15 and 17, which tested the vein at depths of 93 and 179 feet, intersected 13 feet averaging 3.5 g/t and 6.5 feet averaging 23.2 g/t respectively.
Significant assays from the Grey Lead holes include the following:
-------------------------------------------------------------------------
Hole From To Thickness Gold Grade Gold Grade
Number Azimuth Dip (foot) (foot) (feet) (g/tonne) (oz/ton)
-------------------------------------------------------------------------
6 102 -61 154.5 171 16.5 6.76 0.197
-------------------------------------------------------------------------
Including 154.5 157 2.5 23.09 0.673
-------------------------------------------------------------------------
Including 157 161 4.0 8.22 0.240
-------------------------------------------------------------------------
Including 167 171 4.0 5.11 0.149
-------------------------------------------------------------------------
6 234.5 238.5 4.0 1.03 0.030
-------------------------------------------------------------------------
7 108 -76 221 234 13.0 0.70 0.020
-------------------------------------------------------------------------
12 93 -46 43.5 58 14.5 8.99 0.262
-------------------------------------------------------------------------
Including 45 53 8.0 15.17 0.442
-------------------------------------------------------------------------
Including 49.6 52 2.4 23.42 0.683
-------------------------------------------------------------------------
13 95 -60 52 65.5 13.5 20.11 0.586
-------------------------------------------------------------------------
Including 52 53.5 1.5 32.30 0.942
-------------------------------------------------------------------------
Including 53.5 54.5 1.0 135.74 3.959
-------------------------------------------------------------------------
Including 54.5 57 2.5 23.73 0.692
-------------------------------------------------------------------------
Including 57 65.5 8.5 3.29 0.096
-------------------------------------------------------------------------
14 100 -71 60 73 13.0 28.84 0.841
-------------------------------------------------------------------------
Including 60 63.6 3.6 88.98 2.595
-------------------------------------------------------------------------
Including 63.6 72 8.4 3.67 0.107
-------------------------------------------------------------------------
Including 72 73 1.0 23.79 0.694
-------------------------------------------------------------------------
14 73 76.5 3.5 1.58 0.046
-------------------------------------------------------------------------
15 -90 78 106 28.0 1.88 0.055
-------------------------------------------------------------------------
Including 93 106 13.0 3.52 0.103
-------------------------------------------------------------------------
16 95 -45 43 57 14.0 7.89 0.230
-------------------------------------------------------------------------
Including 45 51 6.0 9.21 0.269
-------------------------------------------------------------------------
Including 53.5 57 3.5 13.78 0.402
-------------------------------------------------------------------------
17 251 -76 179 185.5 6.5 23.23 0.677
-------------------------------------------------------------------------
Including 182 183 1.0 49.44 1.442
-------------------------------------------------------------------------
A total of 9 holes (numbers 1 - 5, and 9 - 11, totaling 1,985 feet) were also drilled at the O'Reely vein, located approximately 6,000 feet east of the Grey Lead vein. These holes, which dipped eastward at angles from 45 to 75 degrees, were designed to test the west dipping vein from five separate drill pads located approximately 100 to 150 feet apart. Although all 9 of the holes intersected the quartz vein over intercept widths of 5 to 20 feet, only anomalous gold values were returned. Of the 128 assay intervals, 31 widely scattered assays were returned grading higher than 0.2 g/t, with the highest interval being 2.1 g/t over 3 feet in hole 5 at a depth of 126 feet. One longer interval of anomalous gold assayed 0.94 g/t over a 17 foot interval in hole 3 at a depth of 106 feet. Throughout the drilling, the vein was seen to exhibit a consistent west dip with little indication of structural offset along the drilled strike length.
Gold mineralization at Grey Lead is associated with a distinctive geochemical trace elements suite (gold, bismuth, arsenic) similar to the gold currently being mined 20 miles to the west at the 350,000 to 450,000 oz/year Pogo mine. Gold at Pogo is found within stacked, flat-lying quartz veins (averaging approximately 17 g/t) that are hosted within the same gneissic dome that has been mapped at Rob. In the O'Reely vein gold mineralization is associated with highly anomalous arsenic (to 6,386 ppm) and antimony (to 1,132 ppm) values. Sporadic silver anomalies (+15 ppm) do occur in the core but are not strongly correlated with elevated gold values.
Exploration for 2008 will focus on strike extensions of the Grey Lead vein and on other prospective targets both to the north and further to the west of Grey Lead. Vein mineralization at Grey Lead is controlled by a moderate to steeply west dipping, north-northeast striking structure which extends across the property and which lies within the regional scale Black Mt. tectonic zone. The high-grade, intrusive-hosted Michigan prospect (see August 30, 2007 release for surface sample results) has never been drill tested and is also centered on this structure approximately 2 miles to the northeast of Grey Lead. Future exploration will also focus on low level (less than 100 ppb) gold in soil anomalies that are also present at several locations west of the Grey Lead surface exposures, as well as at the Johnson Saddle prospect, located on strike 4,000 feet northeast of the Grey Lead prospect.
Assay results cited herein were based on drill core collected by Avalon Development Corporation, consultants to Freegold, under the supervision of Curt Freeman, MS., PGeo, Qualified Person as defined by NI 43-101. Alaska Assay Laboratories in Fairbanks, Alaska was used to analyze the samples via fire assay analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion. Given the high-grade results returned from many of the fire assays, samples which returned grades in excess of 1 g/t were re-analysed using the metallic sieve method. On average, the met screen results were 7.4% higher than those generated by fire assay, and a simple scatter plot of the data showed a relatively linear pattern centred on the 1:1 correlation line, suggesting that there is no predictable nugget effect and that the results can be seen as reliable.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is also continuing to discover new high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. In addition to the recent drilling at the Rob property, Freegold has also commenced its initial exploration programs on the Vinasale property in Alaska.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
For further information
Kristina Walcott -
VP Corporate Development,
(604) 662-7307,
jkw@freegoldventures.com
Source: Freegold Ventures Limited
http://biz.yahoo.com/cnw/071011/freegold_drillng_gold.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=6526
NYBob
19年前
Freegold Drilling Intersects 25 g/t Over 9 feet in Further
Golden Summit Expansions
Thursday October 4, 9:40 am ET
VANCOUVER, Oct. 4 /CNW/ -
Freegold Ventures Limited
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to
announce results from 59 holes drilled in four separate
fences at the Company's Golden Summit project outside
Fairbanks, Alaska.
These holes are part of the 672-hole (40,093 foot) exploratory
drill program that has been systematically testing the swarm
of veins and shear zones along the known 5,000 foot strike
of gold mineralization in the Cleary Hill mine area.
Similar to previously released holes, the shallow, closed
spaced holes in these fences continue to encounter high-grade
structures at surface that correlate well from fence to fence,
within much broader zones of lower grade, bulk tonnage
mineralization.
Following the drilling of fences in the Beistline shaft area
this summer, which intersected multiple parallel structures
that are currently being bulk sampled (see July 31, 2007 news
release which reported 50.2, 34.8 and 21.9 g/tonne in
near-surface 3-foot intervals), the RAB drill was re-located
back to Fence 5. Fence 5 consisted of a north-south oriented
line of holes on 25-foot spacing covering a width of 1,725
feet within the central part of the 5,000 foot long,
east-west trending mineralized zone. Due to difficult
drilling conditions at the time of the spring thaw, the
middle 450-foot section of this fence was not completed.
Following the receipt of assays from Fence 4
(located 385 feet to the east of Fence 5) which intersected
a 175-foot wide zone averaging 0.86 g/t, including new veins
assaying 36.7 and 4.4 g/t over 3 feet that trended in
the direction of the gap in Fence 5, the decision was made
to return and drill this middle section.
A total of 20 shallow holes were drilled to an average depth
of 41 feet in this area, with the assays from all of these
holes averaging 0.6 g/tonne.
Significant intercepts from within this in-fill zone include:
-------------------------------------------------------------------------
From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton)
-------------------------------------------------------------------------
517 9 42 33 0.82 0.024
-------------------------------------------------------------------------
519 3 33 30 2.16 0.063
-------------------------------------------------------------------------
521 12 21 9 25.31 0.738
-------------------------------------------------------------------------
including 12 15 3 65.50 1.910
-------------------------------------------------------------------------
524 0 24 24 0.85 0.025
-------------------------------------------------------------------------
Combined with the northern and southern portion, Fence 5 now represents an excellent cross-section of the multiple, wide zones of bulk tonnage mineralization being found within the Cleary Hill area. Holes in the northern portion of Fence 5 intersected a 275-foot wide zone averaging 1.08 g/t, including a higher-grade 175-foot wide zone grading 1.56 g/tonne. Holes in the southern portion of Fence 5 also intersected a 300-foot wide zone averaging 0.68 g/t, including a higher grade 75-foot zone averaging 1.27 g/t. All of these wider zones compare favourably to the 2006 average mill feed grade of 0.83 g/t for the Fort Knox gold mine (the largest gold mine in Alaska, located less than 5 miles to the south of Golden Summit) and the mine's reported proven and probable reserve grade of 0.53 g/t.
Holes in Fence 14 were drilled next to confirm the presence of the 375-foot wide mineralized zone found in the north end of Fence 4. (Please note that these fences were not drilled in sequential order as drilling conditions, assay timing from previous fences and permitting issues resulted in the fences begin drilled in a different order from which they were originally laid out.) Fence 14 stepped 50 feet east of Fence 4 and consisted and 13 vertical holes drilled to an average depth of 66 feet over a 360 foot long north-south length. Fence 14, which averaged 0.53 g/t in all of the holes, confirmed both the width and grade of mineralization in the area over the old Cleary Hill underground mine seen in Fence 4. Significant intercepts from within this fence include:
-------------------------------------------------------------------------
From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton)
-------------------------------------------------------------------------
529 6 21 15 2.00 0.058
-------------------------------------------------------------------------
532 27 45 18 1.40 0.041
-------------------------------------------------------------------------
533 15 18 3 5.09 0.148
-------------------------------------------------------------------------
534 0 78 78 0.79 0.023
-------------------------------------------------------------------------
including 57 72 21 2.35 0.069
-------------------------------------------------------------------------
535 48 75 27 1.06 0.031
-------------------------------------------------------------------------
540 42 63 21 2.97 0.087
-------------------------------------------------------------------------
541 63 78 15 5.66 0.165
-------------------------------------------------------------------------
including 63 69 6 12.86 0.375
-------------------------------------------------------------------------
Fence 6 (reported June 11, 2007), which was a 2,300 foot step-out further to the west of Fence 5, successfully encountered a similar style of mineralization along the Tolovana vein that trends in the same direction as the parallel zones encountered in Fences 1 to 5. The 37 shallow, closed spaced holes in this fence covered an area of 200 by 275 feet, and high grade intercepts of 23.0, 17.8 and 18.1 g/t over 3 foot intervals in multiple holes allowed the strike of the structure to be determined.
Fences 7 and 8 were drilled subsequent to Fence 14, and followed along the strike of the Tolovana structure as it headed further to the north-east in the direction of the vein swarm south of the old Cleary Hill mine. Drilling in these two fences not only identified a well defined mineralized structure, but also encountered old underground mine workings that were not previously known to have existed in the area. Additional drill fences that have been stepping out further to the east of fences 7 and 8 have now covered half of the 2,300 feet distance to Fence 5, and confirm that this Tolovana structure is one of veins that makes up the swarm south of the old Cleary Hill underground mine workings.
Fence 7, located 120 feet north-east of Fence 6, consisted of 12 vertical holes covering a surface width of 110 feet and drilled to an average depth of 62 feet. Fence 8 is located a further 160 feet to the north-east of fence 7 and consists of 14 holes covering a surface width of 120 feet and drilled to an average depth of 74 feet. Significant intercepts from these two fences include:
-------------------------------------------------------------------------
From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton) Fence No.
-------------------------------------------------------------------------
542 54 72 18 3.56 0.104 Fence 7
-------------------------------------------------------------------------
including 57 60 3 18.53 0.540 Fence 7
-------------------------------------------------------------------------
548 12 66 54 1.08 0.032 Fence 7
-------------------------------------------------------------------------
556 18 78 60 2.23 0.065 Fence 8
-------------------------------------------------------------------------
including 36 45 9 4.54 0.132 Fence 8
-------------------------------------------------------------------------
including 72 78 6 11.10 0.324 Fence 8
-------------------------------------------------------------------------
557 0 78 78 1.03 0.030 Fence 8
-------------------------------------------------------------------------
564 0 51 51 1.55 0.045 Fence 8
-------------------------------------------------------------------------
including 0 24 24 2.47 0.072 Fence 8
-------------------------------------------------------------------------
The final 54 holes in the current drill program are included in fences 15, 16, 17 and 18 that follow the Tolovana structure further to the north-east of fences 7 and 8, and in fence 19, which covers approximately 1,000 feet across an area along the strike extension of the central part of the south vein swarm. These final holes will be reported shortly.
In addition to the bulk sampling which is continuing in the original Beistline shaft area (where 6,000 of the 10,000 tons of sample material was collected last fall), sampling is also being undertaken over a 600 foot long area that was drilled in Fence 1. The area being bulk sampled here shows multiple, narrow, high-grade veins containing visible gold within the 12 foot high sample pit face that can be traced with confidence through exposures 50 to 100 feet apart. Many of these veins did not appear in the earlier Fence 1 drilling, as they dip steeper than the 60 to 65 degree southern dip that was projected for this area, and were generally missed by the vertical holes drilled in this area.
The Beistline structure and the parallel B1 structure have now been traced from the historic Beistline shaft through the bulk sample pits, trenches and road cuts over a distance of approximately 2,000 feet. The extensive bleed mineralization identified in the Beistline bulk sample area last fall is seen again in the Fence 1 bulk sample pits located about 1,450 feet to the west. A new geologic model for the vein swarm area in the southern, hanging wall area of the old Cleary Hill mine continues to be refined as bulk sampling continues to generate new geologic information not available from the RAB drilling.
True widths of the veins are variable, as the orientation of the various mineralized structures is variable throughout the drilling. Drilling is currently being conducted with an Ingersol-Rand conventional percussion drill. Cuttings are returned up the drill hole with the use of an OEM vacuum drill cuttings collector, and are dropped from a cyclone directly into a sample bag. Samples are collected every three feet, with the drill bit being pulled off the bottom and the hole cleaned at the completion of each sample interval. Freegold maintains a geologist and sampler at the drill rig for all drilling to take and log all samples to insure that quality assurance and control procedures are in accordance with 43-101 requirements. One duplicate assay is being conducted in every drill hole and either a blank or a standard is inserted in the sample stream every 10 samples. Alaska Assay Laboratories in Fairbanks, Alaska is being used to analyze the drill cuttings for gold via fire assay analysis plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is also continuing to discover new high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale and Rob properties in Alaska, with final assays from an 18-hole drill program at Rob to be reported shortly.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
For further information
Kristina Walcott -
VP Corporate Development,
(604) 662-7307,
jkw@freegoldventures.com
Source: Freegold Ventures Limited
http://biz.yahoo.com/cnw/071004/freegold_drilling.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=6526
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