Freegold Intersects 45 Metres Grading 1.06 percent Cu Equivalent at Shorty Creek

Freegold Ventures (TSX:FVL) has announced results from its first drill hole from the Summer 2016 drilling program at its Shorty Creek project in Alaska.
As quoted in the press release:

Drilling commenced on Hill 1835, where results of previous drilling by Asarco had suggested the potential for a porphyry system at depth. The Asarco drill program during 1989/1990 ( Holes RH 89/RH90 on plan map) was comprised of an RC drill program with a maximum hole depth of 152 metres. The presence of copper mineralization in conjunction with gold mineralization was noted at depth in most of the historic drill holes. A limited drill program by Freegold in 2015 intersected 0.71% Cu equivalent mineralization over 91 metres from 279 – 371 metres in SC 15-03.
Hole SC 16-01 was collared approximately 125 metres SW of hole SC 15-03. Hole SC 16-01 intersected 434.5 metres grading 0.57% Cu equivalent from the base of oxidation at 86.1 metres to EOH at 520.6 metres. Within this broad intercept a highergrade interval of 207 metres grading 0.73% Cu equivalent from 138.6 metres to 345 metres was also intersected. Mineralization remains open to depth with the last 12 metres grading 0.82% Cu equivalent. (Cu 0.55%, Au 0.145 g/t and Ag 9.67 g/t).
Hole 16-01 was collared in the centre of the distinct magnetic high at Hill 1835 and results continue to demonstrate the mineralization is associated with the magnetic high. The magnetic high at 1835 covers roughly a 750 metre by 1,000 metre area. Additional drilling within this area is planned to further expand the known mineralization within the magnetic anomaly. Mineralization consists of quartz stockwork veining and disseminations within strong secondary biotite primarily situated within a flysch unit intruded by feldspar quartz porphyry sills and/or dykes.

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