Freegold Announces Positive Metallurgical Results from Golden Summit

An average gold recovery of 77% from eight composites using conventional processing techniques – gravity and CIL (carbon-in-leach)
97% using gravity + flotation.
A flowsheet of gravity-flotation-CIL on reground concentrate yields 72% gold recovery along with a high mass desulfurized tailings stream
Further optimization studies are underway.

Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce positive results based on the initial metallurgical test work completed from the 2020 2022 drill program. The program's objectives were:

Determination of gold recovery and gold deportment to products using standard and commercially employed mineral processing unit operations
Initial environmental assessment of process tailing stream(s)
Characterization of gold losses to focus ongoing metallurgical programs to optimize the flowsheet design.

Eight drill core composites representing various locations and grades within the Dolphin/Cleary areas were generated using continuous drill intervals selected to represent potential mill feed. ( See map below for hole locations. ) The drill hole and interval selections encompassed the three primary gold-hosting lithologies. Results demonstrate that a significant portion of the mineralization is non-refractory and amenable to conventional processing techniques. The composites were prepared using laboratory assay rejects of fresh rock intervals well below the existing oxide cap at Golden Summit. The eight drill hole composites used 1,192m of drill intercepts representing 587 continuous mineralized intervals with over 5,100kg of material. Results from individual holes demonstrate recoveries up to 87.5%. The average recovery from the eight composites was 77% using gravity and CIL. Recoveries increased to an average of 97.5% where gravity + flotation were utilized. Environmental characterization using standard ABA protocols gave a NP:AP ratio of 85:1 on the flotation tailings stream, which would classify them as non-acid generating.

Metallurgical Composite Hole Results

DDH no.	from m	to m	geochem	test calc grade	gold recovery %
					grav/flot/regr CIL	grav/CIL	gravity	grav+flot
			Au g/t	Au g/t

GS2201	441.1	648.3	1.44	1.06	88.2	87.1	45.0	99.2

GS2203	287.8	478	2.13	2.24	75.1	77.2	48.2	97.6

GS2206	383.1	586.1	1.17	1.02	80.2	87.5	42.7	97.3

GS2207	261.9	468.7	1.35	1.78	60.1	70.2	37.8	98.1

GS2208	266.3	367.2	1.33	1.48	48.1	53.3	25.3	97.5

GS2209	419	544.5	1.26	1.54	73.6	81.2	50.7	97.0

GS2168	352.7	479.5	0.75	0.83	63.7	73.2	31.1	94.3

GS2167	396.3	428	2.15	1.01	71.7	69.2	49.5	96.3

overall predicted grade			1.43

overall calc grade/recovery from test work				1.43	72	77	42	97

The drilling success at Golden Summit since 2020 has been truly remarkable. It has significantly increased the resource and enhanced the project's potential. These positive metallurgical results further solidify Golden Summit's potential. The current pit-constrained resource at Golden Summit hosts both an oxide and a primary resource. The oxide resource is contained within the top 70% metres. Previous column testwork on the oxide material demonstrated that heap leach gold recoveries of 85% can be achieved within two weeks.

Pit Constrained OXIDE Resource using $1,792 Gold

Cutoff Au g/t	Category	Tonnes	Au g/t	Au Ounces
0.15	Indicated	52,030,000	0.39	657,000
0.15	Inferred	18,187,000	0.47	272,000

(approximately top 70 metres)

Pit Constrained PRIMARY Resource using $1,792 Gold: ( February 2023 )

Cutoff Au g/t	Category	Tonnes	Au g/t	Au Ounces
0.45	Indicated	407,544,000	0.92	12,011,000
0.45	Inferred	282,303,000	0.85	7,736,000

Following the February 2023 resource update, Freegold conducted an additional 22,000 meters of drilling in 37 holes within the resource area. A significant increase in visible gold was observed in the drill core compared to previous programs, particularly in the western part of the resource. An updated mineral resource report based on the 2023 drilling is expected later this month. The success of the 2023 drilling program has set the stage for an even more exciting 2024 program. The upcoming phase will focus on optimization, testing the 2km gold-in-soil geochemical anomaly to the west, drilling large diameter (PQ) holes to guide further and optimize metallurgical recoveries, and modelling before economic studies commence. Freegold has postponed the economic studies to investigate the potential for higher grades in the western extension and to conduct additional metallurgical test work, as both could significantly impact the project's economics. The primary areas of focus in the next phase of metallurgical test work are:

Comminution studies using half PQ core
Flotation concentrate oxidation pre-treatment prior to CIL

Map Showing Location of Metallurgical Composite Holes and 2024 Drilling

https://freegoldventures.com/site/assets/files/6287/goldensummit_dolphin-cleary_resource_drilling_western_a.jpg

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited

Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/12/c9981.html

News Provided by Canada Newswire via QuoteMedia

fvl:ca tsx:fvl

FVL:CA

Freegold Achieves Over 93% Recovery Using Albion Process oxidation-CIL Additional Metallurgical Work Remains Ongoing

Total gold recovery of over 93% from a composite comprised of core from 8 drill holes representing the Dolphin/Cleary resource area.
The flowsheet consists of gravity – flotation - concentrate cleaning - Albion Process™ oxidation - CIL (carbon-in-leach).
A sulfide concentrate representing approximately 3% of the process plant feed has been treated using standard Albion™ Process testing procedures appropriate for the current stage of the Golden Summit Project development, resulting in a downstream CIL stage extraction of over 97%.
The exceptional CIL stage extraction of gold has been achieved with less than 75% sulfur oxidation.
Further optimization of this flowsheet and testing of other oxidation processes are ongoing.

Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce additional results based on the ongoing metallurgical test work on drill hole composites from the 2020 2022 drill programs. The objectives of the recently completed testwork were:

Advancement of understanding of gold deportment and recovery methods from previously released metallurgical test work results
Optimization of gold recovery and flowsheet make-up considering the minimization of both future capital and operating cost intensity with the benefit of significant additional and overall gold recovery

Eight drill core composites, representing different locations and grades within the Dolphin and Cleary areas, were created using continuous drill intervals chosen to reflect potential mill feed. (Refer to the map below for hole locations.) The selections of drill holes and intervals included the three primary gold-hosting lithologies. The results indicate that a gold recovery rate of 93% can be achieved using standard and commercially employed mineral processing operations. The composites were prepared from laboratory assay rejects of fresh rock intervals located well below the existing oxide cap at Golden Summit. Eight drill hole composites were utilized, comprising 1,192 meters of drill intercepts that represent 587 continuous mineralized intervals with a total material weight of over 5,100 kilograms.

Composite DDH Make Up	GS2201	GS2203	GS2206	GS2207
	GS2208	GS2209	GS2168	GS2167
Test Calc Grade		gold recovery %
Au g/t	Gravity	Flotation	Post Oxidation Stage CIL	Total

1.15	40 %	55 %	97 %	>93%

Summary of Gold Recovery

Since 2020, drilling activities at the Golden Summit project have significantly bolstered its potential, reinforcing the project's viability through positive metallurgical outcomes and a marked increase in overall resources. The current pit-constrained resource includes both oxide and primary resources, with the oxide component located within the upper 70 meters. Previous column tests on the oxide material indicate that heap leach gold recoveries can reach 85% within two weeks. Ongoing optimization efforts are focused on delineating the most effective flow sheet for the sulphide component before initiating a pre-feasibility study.

The strategic plan for 2025 outlines extensive drilling initiatives aimed at upgrading resources from the inferred category to the indicated category, which is crucial for completing the planned pre-feasibility study. The September 2024 Primary Resource, using a 0.5 g/t cut-off, is 346,304,000 tonnes at 1.08 g/t Au (12,050,000 contained ounces) in the indicated mineral resource category and 308,311,000 tonnes at 1.04 g/t Au (10,306,000 contained ounces) in the inferred mineral resource category.

In 2024, 41 holes, totaling 25,708m , were drilled. Assay results from twelve drill holes related to the 2024 program are pending. Results from the 2024 program will be incorporated into an updated mineral resource estimate expected to be released later in 2025.

Ongoing Metallurgical Work: The primary areas of focus in the next phase of metallurgical test work are in progress and include:

Comminution studies using half PQ core
Flotation concentrate oxidation pre-treatment utilizing BIOX® and POX prior to CIL

Link to Map Showing Location of Metallurgical Composite Holes and 2024 Drilling

https://freegoldventures.com/site/assets/files/6287/metdrillingplanmap_february2025.pdf

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/20/c9885.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2423	645.3	-89	0	57	100.9	43.9	0.76
				195.7	270.4	74.7	0.62
				340.5	361.8	21.3	1.63
				391.4	543.8	152.4	0.84
	including			508.1	543.8	35.7	1.47
GS2424	653	-85	67	388.1	412.9	24.8	1.28
				488	503	15	0.80
				551	578	27	0.72

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2425	691.9	-90	0	44.2	81.4	37.2	0.61
				108.8	166.7	57.9	0.80
				194.2	212.4	18.2	1.41
				311.2	340.5	29.3	0.72
				401.4	541.3	139.9	2.72
	including			514.2	541.3	27.1	11.6
	including			514.2	517.2	3	44.7
	including			520.3	523	2.7	59.5
				572.1	585.5	13.4	5.26
	including			572.1	575.2	3.1	18.2
				611.7	647.7	36	0.89

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number				(m)	(m)	(m)	g/t
GS2426	627	-86	360	117.3	129.6	12.3	0.96
				343.8	359	15.2	1.02
				405	510	105	1.93
	including			481.8	483	1.2	44.1
	including			502.6	504	1.4	65.9
				609	627	18	2.03

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2427	690.4	-65	360	228.9	474.6	245.7	1.07
	including			386.2	389.2	3	23.3
				558.7	638.6	79.9	0.95
GS2428	539	-85	83	157.6	188	30.4	0.61
				328.4	340	11.6	1.57
				409.4	419.7	10.3	0.80
				476	531.9	55.9	1.14
GS2429	587	-85	294	433.7	487.7	54	0.85

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2411	568.9	-55	360	51.7	61.2	9.5	0.87
				489.3	533.4	44.1	0.70
GS2413	595	-55	360	230.7	245.3	14.6	2.72
				283.4	298	14.6	1.16
				472.8	514	41.2	0.70
GS2416	460.2	-55	360	374.7	402.2	27.5	0.59

Hole Number	Dip	Azimuth	From (m)	To (m)	Interval (m)	Au g/t	Cut to 90 g/t
GS2403	-50	315	162.7	164	1.3	6.37
GS2404	-50	360	365	394.9	29.9	0.67
GS2405	-50	360	12.2	34.7	22.5	1.26
GS2406	-55	360	45.8	161	115.2	3.36	1.36
including			45.8	46.4	0.6	476
			231.3	280.8	49.5	0.96
			444.3	470	25.7	1.22
			484.7	520.1	35.4	0.7
Hole Number	Dip	Azimuth	From (m)	To (m)	Interval (m)	Au g/t	Cut to 90 g/t
GS2407	-50	360	119.5	148.4	28.9	2.29
including			119.5	120.4	0.9	57
			194.2	229	34.8	0.65
			330.4	371.2	40.8	1.9
including			369.5	371.2	1.7	37.6
			522.4	609.8	87.4	1.59
including			528.5	531.6	3.1	25.1
GS2408	-55	360	51.7	76.6	24.9	0.72
			241.4	247.1	5.7	1.76
			341.8	358.9	17.1	1.17
			455.3	471	15.7	0.75
			528	570	42	3.06
including			550.8	553.5	2.7	30.9
			593.9	610.2	16.3	2.4
			642	672	30	0.63
GS2409	-55	360	332.1	333.3	1.2	15.5
GS2410	-45	360	68.6	96.6	28	0.49

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2417	667.8	-85	0	24	80.5	56.5	1.25
				238.2	265.8	27.6	1.78
				298.5	300.2	1.7	196.5
				317	413	96	0.70
including				371	392	21	1.44
				552.8	564.4	11.6	0.83
				629	641	12	1.18

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2419	622.6	-50	180	37.5	45.9	8.4	0.50
				60.5	72.4	11.9	0.67
				80.8	93.8	13	0.49
				131.7	132.8	1.1	57.5
				143.3	149.4	6.1	2.45
				168.8	178.8	10	1.83
				184.6	188.8	4.2	1.08
				225.6	313.6	88	0.88
including				262.9	283.7	20.8	2.22
				404	441.4	37.4	0.52
GS2420	560.8	-50	360	457.7	484.9	27.2	0.67
GS2422	816.9	-90	0	72.5	76.7	4.2	0.81
				126	132.4	6.4	4.62
				160.7	188	27.3	0.69
				299	307.4	8.4	57.29
including				299	302	3	157.0
				422	455.2	33.2	0.80
				499.8	554	54.2	1.88
including				542	545	3	15.0
				578	614	36	0.90
				656	668	12	0.89
				743	803	60	1.58

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2418	949.5	-90	0	20	59	39	0.63
				95	118.7	23.7	3.06
including				111.5	112.9	1.4	30.04
				234.5	849.8	615.3	0.8
including				234.5	272	37.5	1.09
including				288.9	459.6	170.7	1.23
including				317	376.7	59.7	1.61
including				320	323	3	16.45
including				407.8	459.6	51.8	1.56
including				542.5	590.7	48.2	0.96
including				682.1	822.4	140.3	0.73

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2414	601.4	-90	0	101	113	12	17.9
including				104	106	2	26.6
including				106	107	1	14.9
including				107	110	3	45.1
				146	164	18	0.74
				183.3	218	34.7	2.06
including				200	202.1	2.1	15.3
				317	356	39	0.7
				395	411.6	16.6	1
				440.7	534.3	93.6	0.93
				554.7	593.4	38.7	1.33

Freegold Announces Positive Metallurgical Results from Golden Summit

Freegold Ventures Investor Kit

GET YOUR FREE INVESTOR KIT

Overview

Company Highlights

Key Projects

Golden Summit

Optionality: Another Plus

Shorty Creek

Management Team

Ron Ewing - Director and Chairman

Kristina Walcott - President, Chief Executive Officer and Director

Alvin Jackson - Director and VP of Exploration and Development

David Knight - Director

Garnet Dawson - Director

Glen Dickson - Director

Reagan Glazier - Director

Maurice Tagami - Director

Vivienne Artz - Director

Gordon Steblin - Chief Financial Officer

Latest News

Freegold Ventures Investor Kit

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

TOP STOCKS