FREEGOLD CONTINUES TO EXTEND MINERALIZATION TO THE WEST WITH MULTIPLE HIGH GRADE INTERCEPTS Several high-grade intercepts: 113.3 metres grading 5.42 g/t Au (uncut) including 3.1m grading 160 g/t Au – GS2314 and 2.4m grading 82.5 g/t Au – GS2314
FREEGOLD CONTINUES TO EXTEND MINERALIZATION TO THE WEST WITH MULTIPLE HIGH
GRADE INTERCEPTS
Several high-grade intercepts:
113.3 metres grading 5.42 g/t Au (uncut)
including 3.1m grading 160 g/t Au – GS2314
and 2.4m grading 82.5 g/t Au – GS2314
181.9m grading 1.22 g/t Au - GS2317
Vancouver, BC – October 1 1th, 2023 – Freegold Ventures Limited (TSX: FVL) (“Freegold” or the
"Company"), continues to successfully intercept higher grade at its Golden Summit Project as two drill rigs
continue to operate. In the Dolphin Cleary area 34 holes have been completed since March . Assays for
17 holes have now been reported. Six holes have been completed in the Saddle Zone. Assays are pending.
The 2023 program has multiple objectives: - delineating the extent of the mineralization to north of the
Dolphin Cleary Zone, testing the potential for expansion to the west, expanding the higher -grade
mineralization found within the Cleary Vein Swarm (“CVS”) and initial reconnaissance drilling of the Saddle
Zone.
Most of the holes in the Dolphin Cleary Zone reported to date have been mainly targeting the area to the
north-northwest of the Dolphin intrusive. The current drilling is moving westward, targeting the Tolovana
Vein swarm west of Willow Creek, where hole GS2335 is currently in progress, and mul tiple occurrences
of visible gold have been observed.
HOLE
NUMBER AZIMUTH DIP
DEPTH
(M)
FROM
(M)
TO
(M)
INTERVAL
(M)
AU
G/T
GS2312 360 -70 506 182 200 18 0.57
GS2313 360 -70 504.9 427 428 1 13.2
GS2314 270 -70 748.6 125 141.5 16.5 2.1
293.6 296 2.4 82.5
385.7 499 113.3 5.42
including 480.7 489.8 9.1 6.5
including 495.9 499 3.1 160
GS2315 360 -70 706.2 239.9 352 112.1 0.95
including 302.2 352 49.8 1.26
587.3 602.3 15 0.94
GS2316 360 -75 470 144 211.3 67.3 0.5
GS2317 360 -70 605 86 103 17 1.68
211.5 538.5 327 0.94
including 211.5 393.4 181.9 1.22
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of
mineralization.
FREEGOLD CONTINUES TO EXTEND MINERALIZATION TO THE WEST WITH MULTIPLE HIGH
GRADE INTERCEPTS
Recent drilling shows that a marble unit and significant faulting truncate the mineralization to the north
in the Dolphin Zone. Hole GS2304 drilled earlier this year intersected significant faulting and a marble unit.
Subsequently, a north -south fence of holes (GS2304, G2312, GS2308 and GS2317) was drilled. Spaced
approximately 100 metres apart and working from north to south, Holes GS2304, GS2313 and GS2308 all
intersected this marble unit. Hole GS2317 intersected a br oad zone of higher -grade mineralization
returning 181.9m grading 1.22 g/t Au from 211.5m to 393.4m updip from hole GS2111 (Section 478950E).
GS2303, located 50 metres west of 478950E was another northern hole drilled earlier this year, and was
aimed at delineating the limits of the mineralization to the north intersected 42.4 meters grading 0.65 g/t
Au (99m – 141.4m). Additional holes drilled on the same section as GS2303 and spaced approximately
100 metres apart were drilled. ( GS2303, GS2313, GS2322 and GS2323). GS2313 again intersected a
marble unit. Assays for GS2322 and GS2323 are pending.
Hole GS2314 located 150 metres west of 478950E was drilled to the west from the same pad as GS2309
which was drilled to the north. GS2314 returned 113.3 metres grading 5.42 g/t Au (385.7m to 499m)
(uncut) – including 3.1 metres grading 160 g/t Au. Two significant high-grade intercepts were encountered
in this hole, 82.5 g/t Au over 2.1 metres from 293.6m to 296m and 3.1 metres grading 160 g/t Au (495.9m
– 499m). This hole in conjunction with, Freegold's previous westerly hole (GS2241 – which intersected
88.7m grading 1.43 g/t) combined with strong gold in soil geochemistry, have acted as further evidence
to support the idea that there remains significant expansion potential to the west where drilling is
currently in progress.
Both GS2315 (100 metres west of 478950E) and GS2316 (150 metres east of 478950E) aimed to upgrade
and expand mineralization northward. GS2315 intercepted broad zone mineralization starting at 239.9m
and returned 112.1m grading of 0.95 g/t Au, including 49.8m of 1.26 g/t Au. GS2316 intersected 67.3m
grading 0.50 g/t Au (144m – 211.3m).
Currently, one rig is also testing the Saddle Zone which is located 4 km to the east of the Dolphin/Cleary
Zone. Six reconnaissance holes have been drilled to assess the historic veins along w ith their coinciding
gold geochemistry to determine their potential to host additional resources. A seventh hole is in progress.
Additional assays results are pending and will be reported once received. See plan map for hole locations.
https://freegoldventures.com/site/assets/files/6287/478950e_looking_west.pdf
https://freegoldventures.com/site/assets/files/6287/gs_dc_rd_western_area.pdf
The current program is designed to test the boundaries, expand and infill the current mineral resource
estimate (February 2023) which using a 0.45 g/ t Au cut off and a $1,792 gold price is 12.01 million ounces
at 0.92 g/t Au ( 407,544,000 tonnes) (indicated) and 7.7 million ounces at 0.85 g/t (282,303,000 tonnes)
(inferred).
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
FREEGOLD CONTINUES TO EXTEND MINERALIZATION TO THE WEST WITH MULTIPLE HIGH
GRADE INTERCEPTS
geochemical analysis by ALS Global and Act Labs. Sample preparation has been conducted at the ALS
facilities in Vancouver, Whitehorse and/or Reno, with subsequent analysis conducted primarily using its
Vancouver and Reno laboratories. Samples were also shipped to ACT Laboratories in Kamloops, and
subsequent analys is and/or preparation was performed by its Ancaster, and Timmins Ontario
laboratories.
Core samples were prepared using the PREP -31BY package in ALS’s 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 o ver 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 and 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 samples were prepared using the RX1+1000 package in ACT’s facility.
Each core sample is crushed to better than 8 0 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A
split of 1kg is taken and pulverized to better than 9 5 % passing a 105-micron (Tyler No 140 150mesh)
screen; a portion of this pulverized split is digested by Aqua Regia (Partial) Digestion, ICP-OES Package -
38 Elements. Fire Assay analyzes all samples with an AA finish, method code IE3 (30g sample size) and
over 10 g/t are automatically assayed using a FA Grav method, method code 1A3. Analytical and assay
procedures are conducted in ACT’s Timmins and Ancaster 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 operates a full-service camp at Golden Summit.
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 the Golden Summit Gold
Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.
For further information:
Kristina Walcott
President and CEO
Telephone: 1.604.662.7307
FREEGOLD CONTINUES TO EXTEND MINERALIZATION TO THE WEST WITH MULTIPLE HIGH
GRADE INTERCEPTS
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 actua l 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 t o
complete exploration programs on schedule, and the success of exploration programs. See Freegold’s
Annual Information Form for the year ended December 31st, 2022 , 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 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, 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.