Freegold Intersects 70.5 metres grading 0.82 g/t Au at Golden Summit Project
174253.v1 1
For Immediate Release www.freegoldventures.com
Freegold Intersects 70.5 metres grading 0.82 g/t Au at Golden Summit Project
July 18 th, 2017 (Vancouver, BC) – Freegold Ventures Limite d (TSX: FVL, Frankfurt: FR4N) (“ Freegold) is
pleased to announce assays from last 6 holes of the oxide expansion drill program at Golden Summit.
Golden Summit is located 30 minutes drive via paved highway from Fairbanks, Alaska.
A total of 27 holes were drilled in an area to the north of the current resource area. Using results of the
previously completed RAB (Rotary Air Blast) drilling, ground resistivity and soil geochemistry, a series of
vertical holes, spaced roughly 50 metres apart in an east -west-north-south grid pattern were drilled. (See
attached map). Drilled to an average depth of 70 metres, the hole pattern was designed to determine if
the current oxide resource could be expanded to the north as well as to establish boundaries to the
current oxide resource.
Assays from last 6 holes are reported below: see attached map for locations
Hole
Total
Depth
(m)
From
(m) To (m) Interval
(m) Au g/t Depth of
Oxide (m)
Oxide Grade
Au g/t
GSDL 17-22 70.5 0 70.5 70.5 0.28 51 0.35
GSDL 17-23 70.5 3 70.5 67.5 0.41 43.5 0.17
GSDL 17-24 70.5 0 70.5 70.5 0.13 57 anomalous
GSDL 17-25 70.5 3 70.5 67.5 0.21 55.5 0.22
GSDL 17-26 70.5 0 70.5 70.5 0.82 60 0.36
GSDL 17-27 70.5 3 70.5 67.5 0.16 46.5 0.17
Width refers to drill hole intercepts, true widths cannot be determined due to uncertain geometry of
mineralization.
The results of the 2017 program have demonstrated the potential for expansion of the current oxide
resource at Golden Summit with majority of the holes returning average grades above the internal cut-off
used in the Preliminary Economic Assessment completed in January 2016. This completes the Phase 1
oxide expansion program at Golden Summit. A ground geophysical program (Induced Polarization) was
also completed to the west of the Dolphin Resourc e. Combined with soil geochemistry (Au, Bi and W)
this has outlined an additional expansion target well west of the previously identified expansion area. This
new resistivity anomaly covers a 1,500 metres by 300 meter area.
The Dolphin remains open to the west and the southwest and additional drilling will be necessary to
determine if the re source can be expanded in these areas. Other areas that may have the potential to
enhance the overall grade of the resource is the potential extension of the origi nal high grade Cleary Hill
vein system as indicated by the ground geophysical program.
Additional metallurgical work to refine the treatment method for the sulphide material remains ongoing.
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Drill cores were logged, photographed and placed in sealed bag s for geochemical analysis. Core
samples were picked up at the logging facility by ALS Chemex and transported to their facility in
Fairbanks, Alaska. ALS Chemex was used to analyze core samples via fire assay analysis for gold plus multi
element ICP-AES and ICP-MS analysis using 4 acid digestion. Quality control entailed insertion of blanks
and standards into the sample stream, at the rate of approximately one QA/QC sample every tenth
assay. Reported standard and blank assay values were within an acceptable margin of error.
The Qualified Person for this release is Alvin Jackson, P.Geo – Vice President Exploration and
Development for the Company who has reviewed and approved the scientific and technical
information contained in this press release.
For further information:
Kristina Walcott-President and CEO
Telephone: 1.604.662.7307
Some statements in this news release contain forward -looking information, including without limitation
statements as to planned expenditures and explora tion 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. The term "Mineral Resource" used above is
defined per NI 43 -101. Though Indicated Resources have been estimated for the Project, this PEA
includes Inferred Mineral Resources that are too speculative for use in defining Reserves. Standalone
economics have n ot 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, that it
includes inferred mineral resources that are considered too speculative geol ogically to have economic
considerations applied to them. 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 m ineralization 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, am ong 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. See Freegold's Annual Information Form for th e year ended December 31st, 2016 filed
under Freegold's profile at www.sedar.com for a detailed discussion of the risk factors associated with
Freegold's operations.
25
0
25
50
75
(meters)
NAD27 / UTM zone 6N
FREEGOLD VENTURES LIMITED
GOLDEN SUMMIT PROJECT
2017 Proposed and
Final Hole Locations
July 2017 Peter E. Walcott & Associates Limited
Holes Reported this Release
Previously Reported 2017 Holes
Holes yet to be Drilled or Reported
Pre 2017 Drilling
7
2
1
5
2
0
0
7
2
1
5
3
0
0
7
2
1
5
4
0
0
7
2
1
5
5
0
0
7
2
1
5
6
0
0
7
2
1
5
7
0
0
7
2
1
5
8
0
0
7
2
1
5
9
0
0
7
2
1
5
2
0
0
7
2
1
5
3
0
0
7
2
1
5
4
0
0
7
2
1
5
5
0
0
7
2
1
5
6
0
0
7
2
1
5
7
0
0
7
2
1
5
8
0
0
7
2
1
5
9
0
0
478800
478900
479000
479100
479200
479300
479400
479500
478800
478900
479000
479100
479200
479300
479400
479500
CHD9701
CHD9702
CHM9603
CHM9604
CHM9605
GSCL1208
GSCL1209
GSCL1210
GSCL1211
GSCL1212
GSCL1213
GSCL1214
GSCL1215
GSCL1216
GSCL1217
GSCL1218
GSCL1219
GSCL1220
GSDC0824
GSDC0825
GSDC0826
GSDC1132
GSDC1134
GSDC1136
GSDC1137
GSDC1138
GSDC1139
GSDC1140
GSDC1141
GSDC1142
GSDC1143
GSDC1145
GSDC1146
GSDC1152
GSDC1153
GSDC1154
GSDC1155
GSDL1201
GSDL1202
GSDL1203
GSDL1204
GSDL1205
GSDL1206
GSDL1207
GSDL1208
GSDL1209
GSDL1210
GSDL1211
GSDL1212
GSDL1213
GSDL1214
GSDL1215
GSDL1216
GSDL1217
GSDL1220
GSDL1224
GSDL1225
GSDL1226
GSDL1301
GSDL1302
GSDL1307
GSDL1308
GSDL1309
GSDL1310
GSDL1311
GSDL1312
GSDL1313
TLD0401
TLD0402
TLD0403
TLD0405
TLD9801
TLR9501
TLR9502
TLR9503
TLR9504
TLR9505
TLR9506
TLR9507
TLR9508
TLR9509
TLR9510
TLR9511
TLR9512
TLR9513
TLR9514
TLR9515
TLR9602
TLR9603
TLR9604
TLR9605
TLR9610
TLR9615
TLR9616
TLR9617