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Freegold Ventures Ltd.
Summary
| Project: | Shorty Creek | |
|---|---|---|
| Deposit: | Shorty Creek | |
| Location: | United States | |
| Commodities: | Copper-Silver-Gold | |
| Date: | 12/6/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-12-2016: Freegold Ventures Ltd. announces an Exploration/Drilling Update report for its Shorty Creek deposit at the Shorty Creek project. Drilling results incl. 516m @ 0.07% Cu, 0.01% Mo. December 6th, 2016 (Vancouver, BC) –. Freegold Ventures Limited ( | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Alvin Jackson (Internal) | |
| ABSTRACT: | December 6th, 2016 (Vancouver, BC) –. Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) (“Freegold) is pleased to provide final assays from its successful summer 2016 drilling program at its Shorty Creek Project, (“Shorty Creek”), located approximately 125 kilometres by paved road north west of Fairbanks, Alaska. Seven holes (3,038 metres) were completed during the summer program, as well as additional ground geophysics and geochemical sampling. Freegold’s first diamond drill program in 2015 discovered significant copper–gold mineralization after stepping out from the previous shallow reverse circulation drilling completed by Asarco in 1989-1990 and confirmed the copper mineralization extended to depth. The 2016 holes extended the copper mineralization intercepted in SC 15-03 by over 245 metres to the southwest and to depth. (PR: dated November 16th, 2015) Hole SC 16-01 located 125 metres southwest of SC 15-03 intersected 434.5 metres grading 0.57% copper equivalent**. Hole SC 16-02 a further 120 metres southwest of SC 16-01 intercepted 409.6 metres grading 0.41% copper equivalent***, with both holes ending in mineralization. (See Press Releases: September 8th, 2016, and October 26 th , 2016) The magnetic anomaly over Hill 1835 covers an area measuring 700 metres by 1,000 metres and appears to be directly associated with the mineralization. Mineralization on Hill 1835 was intersected in drill holes to a minimum depth of 500 metres and remains open in all directions. Mineralization consists of sulphide quartz stockwork veining and sulphide disseminations within strong secondary biotite alteration and anhydrite primarily situatedwithin a flysch unit intruded by quartz feldspar porphyry sills and/or dykes. Disseminated and fracture-controlled pyrite, pyrrhotite, chalcopyrite, arsenopyrite and bornite have been identified (along with numerous secondary oxide minerals) in drill core. In addition to the significant Cu, Au and Ag mineralization reported from the 2016 drilling significant tungsten was also intersected in hole SC 16-01 which included 359 ppm W (0.045% WO3) over 207 metres and in SC 16-02 tungsten values averaging 252 ppm W (0.03 % WO3) over 409.6 metres including a higher grade interval of 519 ppm W (0.065% WO3) over 93.5 metres. | |
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