The Conversation (0)
Highlights:
- Tamarack Continues to Shine with 1.54 g/t Au over 44m, highlighting new potential for Golden Summit
- Dolphin Area – broad zone of 0.74g/t Au over 525m and 1.78 g/t Au over 84.9m
- WOW Area: Multiple intercepts of higher grade -120 g/t Au over 3m
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization
Freegold Ventures Limited ("Freegold") (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) is pleased to announce the results from eight additional drill holes at its Golden Summit project, which are continuing to demonstrate ongoing exploration success and the project's substantial potential. Drilling is scheduled to recommence later this month, with a focus on closer-spaced drilling to enhance grade control. Additional metallurgical work remains ongoing to determine the optimal method for inclusion in the pre-feasibility study ("PFS").
2025/2026 Exploration Program Objectives
The current exploration program is designed to expand understanding of Golden Summit's mineralized zones and target both western and eastern extensions of the current resource area. Key goals include delineating higher-grade corridors, reducing the strip ratio, determining the optimal cutoff grade to maximize project value, and conducting strategic drilling in the WOW (2024), Dolphin, Cleary Hill, and the newly discovered Tamarack areas. Later in the season, drilling to the east of the main resource zone is planned.
New Area – Tamarack
2025 Initial Tamarack Drilling
The Tamarack Area, located approximately 400 metres east of Cleary, marks a significant expansion of the Golden Summit's mineralized footprint. Four drill holes were completed to assess exploration potential further to the east. Notably, hole GS2540 returned 1.32 g/t gold over 14.7 metres at a shallow depth, with deeper mineralization of 1.54 g/t Au over 44 metres within a broader interval of 1.17 g/t Au over 111.9m, indicating strong potential for expanding the eastern footprint of the project. Additional drilling is planned for 2026 in this promising area.
Of the four holes drilled in Tamarack (GS2536, GS2540, GS2545, GS2551), GS2536 intersected 1.28 g/t gold over 49.2 metres, and GS2540 showed several intervals of continuous gold mineralization in highly deformed schist, with intense alteration and visible gold in some intervals. Results for GS2545 and GS2551 are pending.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2540 | 623 | -90 | 0 | 47.3 | 62.0 | 14.7 | 1.32 |
251.0 | 260.0 | 9.0 | 1.35 | ||||
413.0 | 458.9 | 45.9 | 0.92 | ||||
506.0 | 617.9 | 111.9 | 1.17 | ||||
Incl | 536.0 | 580.0 | 44.0 | 1.54 |
Dolphin Area
Hole GS2533, located on the western flank of central Dolphin, demonstrates strong mineralized continuity with an intersection of 525 metres averaging 0.74 g/t Au, well above the resource cut-off grade. This provides valuable infill data and is among the longest mineralized intercepts drilled at Golden Summit.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2533 | 881 | -85 | 360 | 144.8 | 179.0 | 34.2 | 0.84 |
251.0 | 776.0 | 525.0 | 0.74 | ||||
Incl | 472.4 | 475.5 | 3.1 | 21.7 | |||
Incl | 494.0 | 534.8 | 40.8 | 1.43 |
Holes GS2535 and GS2541, drilled north of GS2533 by 50 and 200 metres, respectively, both returned notable intervals, further supporting the area's robust mineralization and continue to provide additional infill data, further validating the current exploration model.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2535 | 725.2 | -50 | 360 | 280.3 | 301.9 | 21.6 | 0.98 |
346.7 | 365.0 | 18.3 | 1.04 | ||||
399.0 | 413.0 | 14.0 | 0.72 | ||||
502.5 | 538.3 | 35.8 | 1.05 | ||||
563.0 | 582.9 | 19.9 | 0.99 | ||||
603.6 | 635.0 | 72.0 | 0.74 | ||||
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2541 | 751.2 | -90 | 0 | 224.0 | 227.0 | 3.0 | 20.1 |
347.0 | 377.0 | 30.0 | 0.77 | ||||
439.5 | 472.5 | 33.0 | 1.13 | ||||
523.1 | 608 | 84.9 | 1.78 | ||||
WOW Area
Fifteen holes were drilled in the WOW Area in 2025 to test the westward extension of the resource, particularly focusing on areas closer to the surface with significantly higher-grade intersections. Drilling also targeted the northern extent and depth, with results indicating strong potential at depth. Notably, GS2516 intersected 120 g/t Au over 3 metres at 800 metres depth, while GS2529 confirmed broader zones of higher-grade material west of historic veins. GS2530 explored the northwest portion, identifying mineralization at depth and revealing a shift in mineralization trends from south- to north-dipping, aligning with the historic Newsboy Mine to the west. The implications of this orientation change are still being evaluated. Exploration in 2026 will continue to further evaluate the WOW Area, aiming to further delineate and infill higher-grade material near the surface.
Hole GS2516
Drilled at a -70-degree angle to the north in the western WOW Area, GS2516 aimed to reach the downdip extension of higher-grade material. Multiple zones with grades above the cut-off were encountered, exhibiting increased width and thickness at greater depths. This indicates that the Tolovana and Schuemeyer vein systems likely continue westward and extend further to depth. Notably, a significant intercept of 120 g/t Au over 3.0 meters was recorded near the base of the hole at a depth of 803 meters.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2516 | 812 | -70 | 360 | 128.4 | 130.0 | 1.6 | 10.6 |
164.0 | 170.0 | 6.0 | 2.25 | ||||
248.0 | 266.0 | 18.0 | 0.75 | ||||
341.0 | 368.0 | 27.0 | 0.72 | ||||
436.6 | 467 | 30.4 | 0.70 | ||||
485.0 | 512.0 | 27.0 | 1.25 | ||||
529.4 | 538.3 | 8.9 | 0.67 | ||||
605.0 | 621.9 | 16.9 | 1.08 | ||||
644.0 | 707.0 | 63.0 | 0.63 | ||||
725.0 | 749.0 | 24.0 | 1.44 | ||||
803.0 | 806.0 | 3.0 | 120.26 |
Hole GS2529
Hole GS2529, drilled vertically in the western WOW Area, aimed to test for broader zones of higher-grade material extending westward from known veins. Results confirm the continuity of higher-grade mineralization downdip and at depth.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2529 | 830.4 | -90 | 0 | 8.7 | 32.6 | 23.9 | 0.76 |
121.0 | 129.1 | 8.1 | 2.24 | ||||
246.0 | 306.9 | 60.9 | 0.78 | ||||
322.2 | 337.4 | 15.2 | 1.60 | ||||
462.4 | 483.1 | 20.7 | 1.59 | ||||
532.4 | 539.1 | 6.7 | 1.46 | ||||
579.7 | 593.4 | 13.7 | 1.16 | ||||
608.7 | 648.3 | 39.6 | 1.41 | ||||
666.6 | 697.1 | 30.5 | 0.72 | ||||
742.7 | 776.6 | 33.9 | 0.66 |
Hole GS2530
Drilled to test the extent of mineralization in the northern portion of the western side of WOW, GS2530 intercepted mineralization above the resource cut-off grade at approximately 536 metres. The mineralization in may dip northward unlike the previous historically south dipping veins, as a result GS2530 may have stopped short at 629m before entering the main zone. The broader implications of this shift in orientation are still being assessed.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2530 | 629 | -90 | 0 | 212.4 | 229.5 | 17.1 | 1.28 |
408.8 | 411.9 | 3.1 | 16.70 | ||||
575.0 | 622.3 | 47.3 | 0.70 |
Cleary Area
A hole drilled on the western edge of Cleary targeted a depth of 900 metres but terminated at 714.5 metres due to drilling challenges. The aim was to test for the potential for Cleary to broaden at depth.
Hole | Depth (m) | Dip (°) | Azimuth (°) | From (m) | To (m) | Interval (m) | Au (g/t) |
GS2534 | 714.5 | -80 | 360 | 156.6 | 160.6 | 4.0 | 4.86 |
185 | 205.7 | 20.7 | 1.01 | ||||
425.5 | 614.8 | 189.3 | 0.60 | ||||
incl | 526.4 | 614.8 | 88.4 | 0.73 |
Plan Map and Section 478800E
https://freegoldventures.com/site/assets/files/6287/nr_2025_drilling_20260218_v2.pdf
https://freegoldventures.com/site/assets/files/6287/478800e.pdf
Analytical Program and QA/QC
Drilling concluded in mid-December with a total of 63 holes completed. Analytical work, including cutting and sampling of the remaining drill holes, is ongoing, with further results to be reported upon validation. Since 2020, Golden Summit has grown into one of North America's largest undeveloped gold resources through targeted drilling campaigns, model improvements, and enhanced understanding of mineralization controls. Positive metallurgical results have advanced the project, with recovery rates exceeding 90% using sulphide-oxidizing techniques, including BIOX®, POX, and the Albion Process™. The GlassLock Process™ has also been tested, increasing gold grade in concentrate and reducing arsenic content for direct-to-smelter sales.
As of July 2025, Golden Summit resources include an Indicated Primary Mineral Resource of 17.2 million ounces at 1.24 g/t Au and an Inferred Primary Mineral Resource of 11.9 million ounces at 1.04 g/t Au, using a 0.5 g/t cut-off grade and a gold price of $2,490. Ongoing cutting, sampling, and analytical work support an updated mineral resource estimate, which will inform the upcoming Pre-Feasibility Study (PFS).
HQ core is logged, photographed, and cut in half for geochemical analysis at MSA Laboratories in Fairbanks or ALS facilities in Vancouver and Thunder Bay. Samples are prepared, crushed, riffle split, and analyzed for gold and multi-element geochemistry using certified quality systems. A QA/QC program includes insertion of laboratory and field standards, with blanks checked regularly.
Qualified Person and Disclosure
Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, is the Qualified Person responsible for the scientific and technical disclosure in this release.
About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration activities in Alaska.
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release, include, without limitation, statements regarding advancing the Golden Summit Project and other exploration plans and results of any drill programs, statements regarding the timing for and expected completion of a pre-feasibility study, the results of any environmental initiatives or metallurgical testing and any development, or drilling. In making the forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. See Freegold's Annual Information Form for the year ended December 31, 2024, filed under Freegold's profile at www.sedarplus.com, for a detailed discussion of the risk factors associated with Freegold's operations.
SOURCE Freegold Ventures Limited
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