{"id":1207001,"date":"2020-09-11T14:04:43","date_gmt":"2020-09-11T19:04:43","guid":{"rendered":"https:\/\/resourceworld.com\/?p=59758"},"modified":"2020-09-11T14:04:43","modified_gmt":"2020-09-11T19:04:43","slug":"freegold-ventures-trades-heavily-on-alaska-results","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1207001","title":{"rendered":"Freegold Ventures trades heavily on Alaska results"},"content":{"rendered":"

Freegold Ventures Ltd.<\/strong> [FVL<\/a>-TSX; FGOVF<\/a>-OTC; FR4N-FSE] traded heavily Friday September 11 after it released assays results from a 10,000-metre drill program on its 100%-owned Golden Summit Project near Fairbanks, Alaska.<\/p>\n

Highlights included hole GSDL2002 which intersected 136 metres grading 1.02 g\/t gold.<\/p>\n

Investors reacted to the news by sending Freegold shares down 12% or 17 cents to $1.23 on volume of 4.53 million, making Freegold the most actively traded stock on the TSX. Freegold shares are currently trading in a 52-week range of $1.95 and $0.04.<\/p>\n

Freegold is exploring for copper and gold near Fairbanks, Alaska. Its asset portfolio includes the Golden Summit Project where Freegold completed a PEA in January 2016, and the Shorty Creek copper-gold porphyry discovery.<\/p>\n

Billionaire investor Eric Sprott recently increased his stake in the company to 4.1% by acquiring 18.2 million subscription receipts of Freegold via private placement for $1.10 each, making the investment worth $20 million.<\/p>\n

In February, 2020, Freegold said it was launching a drill program designed to test a revised interpretation based on the company\u2019s work that higher-grade mineralization may extend west of the old Clearly Hill Mine workings in an area of limited previous drilling.<\/p>\n

Clearly Hill was a small, high-grade underground producer (281,000 ounces averaging 1.3 oz\/ton). Production ceased in 1942. The historic Clearly Hill mine workings are thought to lie approximately 400 metres northeast of current drilling.<\/p>\n

The first hole in the program [GSDL 2001] was completed to a depth of 548 metres and intersected 188 metres of 3.69 g\/t gold. Notably, the last 20 metres averaged 9.87 g\/t gold.<\/p>\n

An initial Phase 1 drill program (10,000 metres) began in mid-June to test areas to the north, west and east of hole GSDL2001.<\/p>\n

Freegold said GSDL2002 was collared 150 metres east of GSDL2001. A previous hole, [GSDL1201] drilled within the projected vein zone on the same section, averaged 1.3 g\/t gold over the last 113 metres [209-322 metres]. GSDL2002 aimed to determine if the interpreted Clearly Hill vein system extends to depth within this area. It was successful and intersected the projected down-dip extension of the zone intercepted in GSDL1201. The zone remains open to depth and along strike<\/p>\n

Drilling is testing for the extension of the Clearly Hill vein system to depth and to further refine and define the orientation of the higher-grade mineralization.<\/p>\n","protected":false},"excerpt":{"rendered":"

Freegold Ventures Ltd. [FVL-TSX; FGOVF-OTC; FR4N-FSE] traded heavily Friday September 11 after it released assays…<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[10,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1207001"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1207001"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1207001\/revisions"}],"predecessor-version":[{"id":1207002,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1207001\/revisions\/1207002"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1207001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1207001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1207001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}