Suche
 
Folgen Sie uns auf:

Freegold Intersects 91 metres grading 0.71 % Cu Equivalent At Shorty Creek

16.11.2015  |  CNW

www.freegoldventures.com

VANCOUVER, Nov. 16, 2015 /CNW/ - Freegold Ventures Ltd. (TSX: FVL, Frankfurt: FR4N) ("Freegold) is pleased to provide the results of its Fall 2015 drilling program on its Shorty Creek Project, Alaska.

Results of the program have demonstrated the potential for a significant copper gold porphyry deposit at Shorty Creek with discovery of 0.71 % Cu equivalent mineralization with the first core drilling carried out at Shorty Creek.  The 2015 drill program was designed to test a combination of geochemistry, geophysics (airborne and induced polarization surveys) as well as favourable geology based on the results of the 2014 program and previous work. Of particular interest are the large magnetic highs with coincident copper, gold and molybdenum soil chemistry, as these magnetic highs are often indicative of the core of porphyry systems. The program was also designed to test the depth extent of the mineralization encountered in the previous Asarco drilling (1989/1990) in the area of Hill 1835.  The Asarco holes were drilled to a maximum depth of 500 feet, and intersected gold and copper mineralization with copper grade increasing at depth.

A total of 4 holes were drilled during the 2015 program, which was severely hampered by challenging weather conditions, including an unseasonably large snowfall (the second largest for September in 102 years).  The results of the 2015 drill program, however, demonstrate that the Shorty Creek Project has the potential to host a significant copper-gold porphyry deposit and we are tremendously pleased with the results. Freegold is looking forward to continuing the drill program in 2016.

Drilling commenced in the area of the previous Asarco RC drilling and the presence of quartz feldspar porphyry was noted in Holes SC-15-01, SC 15-02, and SC 15-03.  Results suggest holes SC 15-01 and SC 15-02 were drilled in the pyritic halo. Hole SC 15-04 collared in high gold chemistry was abandoned twice due to difficult ground conditions, however the presence of significant argillic and sericitic alteration was noted.

Hole Number SC15-03 was collared within a distinct magnetic high at Hill 1835 which covers roughly a 750 by 1,000 metre area, and is located some 250 metres to the south west of any previous drilling.  The nearest Asarco drill hole was drilled to a depth of 315 feet (96 metres). Results appear to indicate that the highest grade copper mineralization is associated with the magnetic anomaly and this correlates very well with the ground work completed to date.  The core of the magnetic high is situated approximately 250 metres southwest of drill hole SC 15-03.  Intense alteration consisting of silica flooding, sericite, biotite, and quartz veining with sulphides is present within SC 15-03.

Of particular significance for the size potential of the Shorty Creek Project is the similar magnetic and geochemical signature of target Hill 1710, which lies 2.5 kilometres northwest of Hill 1835. The geochemical anomaly there is 2,000 metres long and remains open along strike. It directly correlates with the magnetic anomaly, which is in excess of 6,000 metres in length and up to 1,500 metres in width. (see attached maps)

Significant Intervals from the 2015 Drill Program

Hole
Number

Hole
Incl.

Depth of
Hole (ft)

From (ft)

To

Interval
(ft)

Interval
(m)

Au

Ag

Cu %

Cu EQ
%

(ft)

g/t

g/t












SC 15-01

-90

1321

13

128

115

35.1

0.25

0.58

.017

0.20

SC 15-01

-90


301

801

500

152.4

0.18

1.97

0.13

0.27

SC15-02

-90

906





anomalous

anomalous

anomalous


SC 15-03

-90

1258

258

1218

960

292.6

0.13

3.23

0.26

0.38


incl


728

1218

490

149.4

0.14

5.36

0.40

0.55


incl


918

1218

300

91.4

0.14

7.02

0.55

0.71

Freegold has not as yet collected sufficient data to determine how the downhole drill intervals might relate to the actual true thickness of mineralization. Copper equivalent grades are based on metal prices of: copper US$2.30/lb, gold US$1100 per oz and silver US$15 per oz. Metal recoveries have not been applied in the copper equivalent calculation. The copper equivalent calculation is as follows; CuEq = Cu grade + (Au grade x Au price + Ag grade x Ag price)/(22.0462 x 31.1035 x Cu price).

Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for geochemical analysis. Core samples were picked up on-site by ALS Chemex and transported to their facility in Fairbanks, Alaska. A sample quality control/quality assurance program was implemented.

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 contents of this press release.

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.

SOURCE Freegold Ventures Ltd.



Contact
Kristina Walcott-President and CEO, Telephone: 1.604.662.7307, jkw@freegoldventures.com
Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Freegold Ventures Ltd.
Bergbau
A1C4K0
CA3564552048
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"