FREEGOLD INTERSECTS 155.5M GRADING 2.57 G/T AU INCLUDING 73.1 M GRADING 4.26 G/T AU AT GOLDEN SUMMIT

FREEGOLD INTERSECTS 155.5M GRADING 2.57 G/T AU INCLUDING 73.1 M GRADING 4.26 G/T AU AT GOLDEN SUMMIT

Freegold Ventures Limited (Freegold) (TSX: FVL) (OTCQX: FGOVF) is pleased to announce results from an additional 6 holes ( 3,925m ) as part of the ongoing drill program designed to expand, upgrade and increase the overall resource grade at the Golden Summit Project ("Golden Summit" or the "Project") through systematic drilling.

Holes GS2136, and GS2221 were drilled to the north in the Tolovana Area. Results from both holes demonstrate the potential for broad zones of higher-grade mineralization.   GS2221 was intended to intersect the downdip of the high-grade mineralization intersected in GS2121 where the bottom 62.4 metres ( 492.9m to 555.3m ) averaged 4.54 g/t Au and included multiple high grade intercepts. GS2221intersected 73.1 m grading 4.26 g/t Au within the lower part of a broader mineralized zone.

GS2136, did not reach target zone due to difficult drill conditions.  The bottom 39.6 metres averaged 2.88 g/t as it entered the zone.

Zone

Hole Number

Depth (m)

Dip

Azimuth

From (m)

To (m)

Interval (m)

Au g/t

DOLPHIN

GS2136

540.7

-70

360

218.5

249

30.5

0.62

Tolovana





306.9

392.3

85.4

0.56






465.4

535.5

70.1

1.85


including




495.9

535.5

39.6

2.88


including




514.2

517.2

3

13.60


GS2221

1053.2

-70

360

294.7

715.4

420.7

1.36


including




346.6

642.2

295.6

1.73


including




486.8

642.2

155.4

2.57


including




569.1

642.2

73.1

4.26


including




584.3

587.3

3

10.3


including




639.2

642.2

3

61


The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

Hole GS2227, drilled 60 metres to the south of GS2136, was designed to intersect and potentially expand the downdip of the higher-grade mineralization intersected in GS2136. Assay results are pending.

Cleary East

The main Cleary Hill Vein swarm dips to the south, and plunges southwest towards the Dolphin intrusive, with the mineralization increasing in intensity closer to the Dolphin intrusive, especially along the contact margins. These broad-spaced holes in the Cleary East area, all drilled to the north, were designed to test the eastern extension of the Cleary System at depth with several wide-spaced holes.  Additional holes to the north and east are planned. Results continue to demonstrate the presence of a robust mineralized system at Golden Summit.

Zone

Hole Number

Depth (m)

Dip

Azimuth

From (m)

To (m)

Interval (m)

Au g/t

Cleary East

GS2142

504.7

-70

360

184.7

185.9

1.2

21.10


GS2146

652

-70

360

407.5

445.3

37.8

0.88






577.6

652

74.4

0.66


including




577.6

627

49.4

0.73


GS2149

570.6

-70

360

233.8

250.9

17.1

0.89


GS2154

604.6

-70

360

5.7

20

14.3

0.76






173

226.4

53.4

0.71






322.6

353.1

30.5

1.14






400

401

1

12.65






475.2

525.4

50.2

1.00


including




484.2

486.3

2.1

14.20






598.6

601.7

3.1

25.90


The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

Drilling remains ongoing with 4 drill rigs. The program is systematically evaluating the Dolphin/Cleary areas and is continuing to successfully delineate broad zones of greater than 1 g/t Au mineralization over significant widths.  Drilling since 2020 has also demonstrated significant widths of greater than 2 g/t Au within the interpreted Cleary Vein Swarm (CVS).

Gold mineralization in the Dolphin/Cleary area is hosted within a broad structural corridor of gold mineralization comprised of the Dolphin stock, a multiphase intrusive complex, and metasedimentary rocks comprised of various schists. Drilling and historical shallow underground mining has intersected this gold mineralization from surface to depths of over 1,000 m from the Dolphin stock in the west to the Cleary Hill mine workings in the east, a distance of over 1.5km. Gold mineralization is hosted within high-grade quartz veins and silicified zones that occur within a broader lower-grade envelope of quartz stockwork mineralization. Drilling continues to successfully delineate these higher-grade veins and the encompassing lower-grade stockwork mineralization to depths well below the depths of the previous drilling and well outside of the current pit-constrained gold resource.

Drill Plan Map and Cross Section:

https://freegoldventures.com/site/assets/files/6105/section_478850e.pdf

https://freegoldventures.com/site/assets/files/6105/plan-map-10182022.pdf

The highway-accessible Golden Summit project is located approximately 32 km northeast of Fairbanks, Alaska and was the subject of an intensive drill campaign between January 2011 and August 2013 in which 36,159 metres were drilled, and three resource updates were completed each in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). In January 2016 , a preliminary economic assessment ("2016 PEA") prepared in accordance with NI 43-101 was produced for the Company by Tetra Tech.

The terms "mineral resources", "indicated mineral resources", "inferred mineral resources" and "mineral reserves" are defined per NI 43-101. Though indicated mineral resources have been estimated for the Project, the 2016 PEA includes inferred mineral resources that are too speculative for use in defining mineral reserves. Standalone economics have not been undertaken for the measured and indicated resources and as such no reserves have been estimated for the Project. Please note that the PEA is preliminary in nature, and that it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would allow them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the price of mineral market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.

Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Chemex. All assays were performed by ALS Global Ltd., with sample preparation carried out at the ALS facility in Fairbanks, Alaska , with subsequent studies conducted primarily using its Vancouver and Reno laboratories. A sample quality control/quality assurance program was implemented.

Core samples were prepared using the PREP-31BY package in ALS's Fairbanks facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS's Au- SCR24 method; select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the little fraction, as well as an assay on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities.  Core Sample submitted to the Bureau Veritas (BV) facility in Fairbanks were prepped using the PRP80-1Kg . Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-ES (method code MA200). Fire Assay analyzes all samples with an AAS finish, method code FA-430 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, FA530. Additional Au screening is performed using BV's FA632 method; select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the little fraction, as well as an assay on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Crushing was conducted at BV's Fairbanks facility, with subsequent analysis conducted by its Vancouver , Reno and/or Hermosillo facilities. A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards with additional blanks inserted following samples of visible gold.

Freegold continues to operate a full-service camp at Golden Summit with COVID-19 protocols in place.

The Qualified Person for this release is Alvin Jackson , PGeo – Vice President of Exploration and Development for Freegold.

About Freegold Ventures Limited

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

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, 2021 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 there has been a reduction in these effects in recent months, the continuation and/or re-introduction of significant restrictions, business disruptions and related financial impact , and the duration of any such disruptions, cannot be reasonably estimated at this time. The risks to Freegold of such public health crises also include risks to employee health and safety 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, the Freegold has implemented a COVID management program and established a full service Camp at Golden Summit in order to attempt to mitigate risks to its employees, contractors and community. While the extent to which COVID-19 may impact the 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

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Freegold Expands and Upgrades Resource at Golden Summit

Freegold Expands and Upgrades Resource at Golden Summit

  • Base case resource ounces and grades have increased materially from our February 2023 estimates
  • Indicated Primary Mineral Resource: 12.1 million ounces at 1.08 g/t Au, up 8% and 9% respectively
  • Inferred Primary Mineral Resource: 10.3 million ounces at 1.04 g/t Au, up 45% and 13%, respectively
  • Primary Resource reported above a 0.50 g/t Au cut-off grade
  • In addition, a significant oxide resource exists – 0.9Moz at 0.49 g/t Au (indicated), up 43% and 23%
  • Soil geochem and historical hard rock mines strongly suggest that Dolphin-Cleary mineralization remains open to the west and southwest another 1.5 km. The current resource footprint is 1.5 km east-west.
  • Dolphin/Cleary is just one of the target areas within the 13km long, road-accessible project.
  • The 2024 drill program at Golden Summit is ongoing with two drills operating – additional assay results pending

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce an updated mineral resource estimate for the Golden Summit Project. The revised estimate incorporates data from the 2023 drilling program and the initial two holes of the 2024 program, representing a significant milestone in our exploration and development activities.

Freegold Ventures Limited Logo (CNW Group/Freegold Ventures Limited)

CutOff Au g/t

Classification

Au g/t

Tonnes

Ounces

OXIDE





0.15

Indicated

0.49

59,414,000

937,000

0.15

Inferred

0.45

3,252,000

47,000

PRIMARY





0.5

Indicated

1.08

346,304,000

12,050,000

0.5

Inferred

1.04

308,311,000

10,306,000

UNDER PIT





0.75

Indicated

1.29

2,867,000

119,000

0.75

Inferred

1.34

22,900,000

986,000

Mineral Resources   for the primary resources   are reported at a cut-off grade of 0.   5   0 g/t gold and constrained within an open pit shell   using a  gold price of US$1,   973   /ounce, US$2.50/t mining cost, US$   14   /t processing cost, US$2.00/t G+A,   72   % gold recover   y   , and   a   45° pit slope.   Tonnes and ounces rounded to the nearest thousand.

Comparison Sept 2024 and Feb 2023 Resource Estimates


Indicated Primary Resource - Open Pit


Inferred Primary Resource - Open Pit


Oxide Indicated



Moz

gpT

Cutoff Grd



Moz

gpT

Cutoff Grd



Moz

gpT

Cutoff Grd

Feb-23

11.1

0.99

0.5



7.1

0.92

0.5



0.7

0.39

0.15

Sep-24

12.1

1.08

0.5



10.3

1.04

0.5



0.9

0.49

0.15

Change

8 %

9 %




45 %

13 %




43 %

26 %


The updated resource is the result of primarily infill drilling, upgrading areas considered waste in the February 2023 drill program due to lack of drill density. Ounces and grades increased materially in all categories considered within an open pit context. It is expected that further infill drilling may also positively impact stripping ratios when a mine plan is optimized. Freegold's 2024 drill program is focusing on the west and southwest of the existing resource where soil geochemistry, found to be a strong indicator, and historic gold mines have outlined two logical corridors that extend approximately 1.5 km; in context, Golden Summit's current resource occupies a 1.5 km east-west footprint.

The current estimate is based on a gold price of $1,973 , which reflects the three-year trailing average. Even though the 2024 resource estimate uses a higher gold price than the $1,792 in 2023, this is balanced by a lower recovery rate (72% vs. 90%). Previously, the 2023 resource plan considered using CIL (carbon-in-leach) and oxidation to process the sulphide flotation concentrate for higher recoveries. However, positive test results released earlier this year indicate that a significant portion of the mineralization is non-refractory and can be processed using much less costly gravity and CIL. Although the recovery is projected to be lower, the overall operating and capital cost savings would more than compensate and simplify the project substantially. The 72% recovery used for the resource is believed to be conservative. The reported test work showed recovery rates of up to 87.5%, with an average recovery of 77% using gravity and CIL, based on 5,100 kg of material and eight composites. Furthermore, initial indications are that mineralization to the west, where our 2024 drill program is concentrated, achieves higher recoveries. Additional optimization work and metallurgical samples from four large-diameter drill holes completed will be used for further metallurgical testwork.

The latest resource estimate shows an increase in the resource size and a notable improvement in grade. The discovery cost remains exceptionally low at under $4.00 per ounce. Golden Summit has a substantial resource and presents an excellent development opportunity due to its proximity to robust infrastructure - road accessibility, proximity to a supply centre, and available labour force, all of which are expected to contribute to lower operating costs.

Additional drilling will focus on improving the ore quality and outlining a smaller, higher-grade starter pit within the deposit as the project moves towards pre-feasibility to reduce operating and initial capital costs. The updated resource's results demonstrated this approach's success with its increase in overall resource grades at the various cut-offs. Trade-off studies will be conducted to optimize the overall economics and balance improved recovery rates with capital and operating costs as the project progresses. Additional metallurgical work is also in progress, and four large diameter (PQ) boreholes have been drilled this year. These will undergo a comprehensive suite of metallurgical tests to assess various processing methods to improve recoveries and further reduce the project's risks.

Since 2020, Freegold has completed over 123,000 meters of drilling and established Golden Summit as one of North America's largest undeveloped gold resources.

The 2023 drill program at Golden Summit discovered higher-grade mineralization on the western side of the existing resource. In 2024, the plan is to continue drilling on the portion west of the Dolphin/Cleary deposit and extend exploration drilling further to the west. The 2024 drilling program at the Golden Summit project is progressing well; additional assay results are expected to be reported shortly.

The table below displays the specific cut-off grades within and below the current $1,973 pit.

CutOff Au g/t

Classification

Au g/t

Tonnes

Ounces

OXIDE





1.00

Indicated

1.73

4,745,000

265,000

1.00

Inferred

1.77

127,000

7,000

0.75

Indicated

1.35

8,430,000

366,000

0.75

Inferred

1.17

359,000

14,000

0.50

Indicated

0.97

17,324,000

541,000

0.50

Inferred

0.84

919,000

25,000

0.40

Indicated

0.81

24,758,000

647,000

0.40

Inferred

0.72

1,322,000

31,000

0.15

Indicated

0.49

59,414,000

937,000

0.15

Inferred

0.45

3,252,000

47,000

PRIMARY





1.00

Indicated

2.07

99,704,000

6,628,000

1.00

Inferred

2.01

82,640,000

5,352,000

0.75

Indicated

1.55

174,604,000

8,694,000

0.75

Inferred

1.49

151,918,000

7,271,000

0.50

Indicated

1.08

346,304,000

12,050,000

0.50

Inferred

1.04

308,311,000

10,306,000

0.40

Indicated

0.92

461,582,000

13,711,000

0.40

Inferred

0.88

426,343,000

12,003,000

0.15

Indicated

0.66

778,574,000

16,609,000

0.15

Inferred

0.62

752,540,000

14,960,000

UNDER PIT





1.00

Indicated

1.89

1,193,000

73,000

1.00

Inferred

1.82

11,605,000

677,000

0.75

Indicated

1.29

2,867,000

119,000

0.75

Inferred

1.34

22,900,000

986,000

0.50

Indicated

0.84

7,958,000

216,000

0.50

Inferred

0.87

61,179,000

1,720,000

0.40

Indicated

0.66

14,765,000

313,000

0.40

Inferred

0.71

100,288,000

2,282,000

0.15

Indicated

0.35

64,264,000

720,000

0.15

Inferred

0.41

290,423,000

3,826,000

Mineral Resources   for the primary resources   are reported at a cut-off grade of 0.   5   0 g/t gold and constrained within an open pit shell   using a   gold price of US$1,   973   /ounce, US$2.50/t mining cost, US$   14   /t processing cost, US$2.00/t G+A,   72   % gold recover   y   , and   a   45° pit slope.   Tonnes and ounces rounded to the nearest thousand.

The mineral resource estimate (MRE) was carried out using ordinary kriging of three-meter composites. The MRE was constrained by two lithological domains, Intrusive and Schist, that were further constrained by a 0.2 g/t gold gradeshell. Hard boundaries were used for the Intrusive and Schist domains so that only composites from each domain were used for the estimation of block grades within that domain. An Oxide domain was flagged within the upper portion of the Schist domain after the estimation process. Composite grades in the Intrusive domain were capped at 20 g/t gold and those within the Schist domain were capped at 90 g/t. Cumulative frequency curves were used to determine capping levels. The estimate was carried out in a single pass with a minimum of four and a maximum of 12 composites, with a maximum of two per drill hole, required for a grade to be interpolated into a block. Blocks were classified as Indicated or Inferred. Indicated blocks are based on a minimum of eight and a maximum of 12 composites within 100 meters of a block. Inferred blocks are based on a minimum of four and a maximum of 12 composites within 300 meters of a block. A maximum of two composites per drill hole was permitted in both categories.

In addition to the ongoing drill program, metallurgical, baseline environmental, cultural resource, and wetland studies are underway.

A plan map showing the locations of the 2024 drill holes - exploration and metallurgical holes can be found here:

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

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. Each core sample is crushed to better than 70 %, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS's Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the fine fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities.

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

Qualified Person and Technical Information

The MRE, with an effective date of September 9, 2024 , was prepared by Tetra Tech Canada. Greg Mosher, P. Geo and Maurie Marks , P.Eng of Tetra Tech Canada are "Qualified Persons" for the Updated Mineral Resource Estimate as defined in NI 43-101 and are considered to be "independent" of Freegold for the purposes of NI 43-101. Greg Mosher and Maurie Marks have reviewed and approved the scientific and technical information herein regarding the Golden Summit project. Greg Mosher visited Golden Summit on November 11 – 12, 2022. Greg Mosher and Maurie Marks visited the project on September 12, 2023 .

The full technical report, which is being prepared in accordance with NI 43-101 by Tetra Tech Canada, will be available on SEDAR ( www.sedarplus.com ) under the Company's issuer profile within 45 days from this news release.

Alvin Jackson, P.Geo, Vice President of Exploration and Development of the Company and a "Qualified Person" as defined in NI 43-101, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein.

About Freegold Ventures Limited

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

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

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Freegold Intersects 4.63 g/t Au over 65.9 Metres at Golden Summit

Freegold Intersects 4.63 g/t Au over 65.9 Metres at Golden Summit

 Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to report initial results from the 2024 drill program. Thirteen holes have been completed, with two more in progress. The 2024 drill program is targeting the western extension as an area that holds significant promise for higher grades closer to surface and at depth.  The presence of this higher-grade material, along with promising ongoing metallurgical testwork, can potentially further enhance the overall project economics. The focus for 2024 will be on optimization, which will involve additional drilling, including drilling large-diameter holes (PQ) to facilitate additional metallurgical testwork.

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Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 770,000 common shares (Shares) of Freegold Ventures Limited., over the Toronto Stock Exchange (representing approximately 0.2% of the outstanding shares on non-diluted basis) at an average price of approximately $0.53 per share for aggregate consideration of approximately $408,100.

The acquired Shares were purchased in reliance on the normal course purchase exemption from the formal take-over bid requirements set out in Section 4.1 of National Instrument 62-104 - Take-Over Bids and Issuer Bids (NI 62-104). Such Shares do not represent more than 5% of the outstanding Shares, and the aggregate number of Shares acquired in reliance on this exemption with any joint actors within the last 12 months does not exceed 5% of the Shares outstanding at the beginning of the 12-month period. The Shares trade on the Toronto Stock Exchange and the value of the consideration paid for

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Results of the Annual General and Special Meeting

Results of the Annual General and Special Meeting

Freegold Ventures Limited (TSX: FVL) (Frankfurt: FR4N) ("Freegold", the Company) today announced that all matters set out in the Management Information Circular dated May 14, 2024 for the 2024 Annual General and Special Meeting of Shareholders held on June 28, 2024 (the "Meeting") were approved by the shareholders holding 101,433,810 shares were voted representing approximately ~ 22.71% of the outstanding shares of the Company.

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The following nine nominees were elected as directors of Freegold.  The detailed results of the vote for the election of directors are set out below:

Nominee

# of Votes For

% of Votes For

# of Votes Withheld

% of Votes Withheld

Ron Ewing

100,880,186

99.45

553,625

0.55

Kristina Walcott

98,974,508

97.58

2,459,303

2.42

Alvin Jackson

99,068,535

97.67

2,365,276

2.33

David Knight

84,204,358

83.01

17,229,453

16.99

Garnet Dawson

99,597,686

98.19

1,836,125

1.81

Glen Dickson

84,989,006

83.79

16,444,805

16.21

Reagan Glazier

76,043,127

74.97

25,390,684

25.03

Maurice Tagami

99,862,881

98.45

1,570,930

1.55

Vivienne Artz

100,633,536

99.21

800,275

0.79

The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the company's auditors, as set forth in the management information circular.

The Company's shareholders approved all unallocated stock options, rights or entitlements under the Company's stock option plan.

Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 14, 2024 , which is filed under the Company's profile at www.sedarplus.com .

Drilling remains ongoing at Golden Summit. Ten holes have been completed to date, and two are currently in progress. Assays will be reported once they are received.  The updated resource calculation incorporating the results of the 2023 drilling is expected to be reported in the coming weeks.

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. 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.

SOURCE Freegold Ventures Limited

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Freegold Announces Positive Metallurgical Results from Golden Summit

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:

Freegold Ventures Limited (CNW Group/Freegold Ventures Limited)

  • 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

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Zodiac Gold Announces Conversion of Reconnaissance License into Two New Exploration Licenses Covering 1,899 Square Kilometers in Liberia's Todi Shear Zone

Zodiac Gold Announces Conversion of Reconnaissance License into Two New Exploration Licenses Covering 1,899 Square Kilometers in Liberia's Todi Shear Zone

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce the successful conversion of its reconnaissance license into two new mineral exploration licenses, covering a total of 1,899 square kilometers within the highly prospective Todi Shear Zone in Liberia. This milestone marks a significant step forward in Zodiac Gold's ongoing exploration and development efforts in the region, known for its potential to host major gold and iron ore deposits. With this conversion the Company now controls three exploration licenses totalling 2,316 square kilometers in the Todi Shear Zone.

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Galloper Gold Commences Diamond Drilling at Glover Island

Galloper Gold Commences Diamond Drilling at Glover Island

Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF)(Frankfurt:W9F) (the "Company" or "Galloper") is pleased to announce that Phase 1 diamond drilling has commenced at the Company's Glover Island Project where Galloper's 100%-owned claims cover most of the 40-km-long under-explored Island situated in the prolific "Four Corners" region of Western Newfoundland featuring major deposits of gold, copper and salt

Galloper's initial drilling is targeting a significant expansion of the known orogenic gold system at Glover Island, while a potential new discovery is emerging adjacent to the gold trend on the western side of the Island where a multi-kilometre-long copper anomaly has been identified through recent Galloper soil sampling combined with an historic VTEM Survey.

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Galloper Gold Retains Bantr Media Inc. and Obtains DTC Eligibility for U.S. Trading

Galloper Gold Retains Bantr Media Inc. and Obtains DTC Eligibility for U.S. Trading

Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF)(Frankfurt:W9F) (the "Company" or "Galloper") announces that its common shares have been made eligible for book-entry delivery and depository services of the Depository Trust Company (" DTC ") to facilitate electronic settlement of transfers of its common shares in the United States

DTC eligibility simplifies the process of trading and can enhance liquidity of Galloper Gold's shares on the OTC Pink Markets where the stock is quoted under the symbol "GGDCF". The electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

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Lode Gold Files NI 43-101 Technical Report for Its McIntyre Brook Gold Project in New Brunswick in Preparation for Spin Out

Lode Gold Files NI 43-101 Technical Report for Its McIntyre Brook Gold Project in New Brunswick in Preparation for Spin Out

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has filed a Technical Report for its McIntyre Brook Project, located in the emerging Appalachian Gold Belt in New Brunswick. This National Instrument 43-101 (NI 43-101) technical report is to be used for Spin Co (Gold Orogen) and will form part of the submission later this month to the Exchange for listing.

UPCOMING EXPLORATION PLANS

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Horizon Minerals Limited  Phillips Find Mining Update

Horizon Minerals Limited Phillips Find Mining Update

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide an update on the development of the Phillips Find Gold Project ("Phillips Find").

HIGHLIGHTS

- Joint Venture (JV) Agreement executed with BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find

- All management, technical, operational and maintenance roles to be undertaken by BML with oversight by the Company

- Low financial risk JV structure with BML to fund all project costs, with net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML

- Mining Proposal submitted to the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) to develop Phillips Find lodged in early June 2024 with approval expected shortly

- The Mining Proposal is the last key approval required to develop Phillips Find

- Existing 200kt Toll Milling Agreement executed with FMR Investments in May 2024 to be utilised for Phillips Find JV ore

- In light of awaiting final permitting, the milling schedule has been renegotiated with PhillipsFind ore treated at FMR Investments Greenfields mill from February 2025 to June 2025

- Timing of cashflows to Horizon are expected to be unaffected as initial cash from gold revenue will repay BML's working capital prior to splitting out surplus net cashflows on a 50/50 asis towards the end of the project

- Pre-production planning is well advanced, with clearing and site establishment crews and the200 tonne excavator ready to mobilise to site from mid-September 2024 subject to Mining Proposal approval.



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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Element79 Gold Corp Announces 2024 Clover Work Plans & Nevada Portfolio Updates

Element79 Gold Corp Announces 2024 Clover Work Plans & Nevada Portfolio Updates

(TheNewswire)

Element79 Gold Corp.

September 10, 2024 TheNewswire - Vancouver, BC Element79 Gold Corp* (the "Company" or "Element79 Gold") is pleased to provide an update for its Clover project ("Clover") in Elko County, Nevada, and its portfolio of exploration and development projects in Nevada, USA.

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