Freegold Commences Drilling at Vinasale Project, Alaska
VANCOUVER, June 9, 2011 /CNW/ --
VANCOUVER, June 9, 2011 /CNW/ - Freegold Ventures Limited (TSX: FVL,
Frankfurt: FR4N)('Freegold') is pleased to announce the commencement of drilling on the Vinasale
Gold Project located in southwest Alaska on which Freegold entered into
an Exploration Agreement with an Option to Lease the Vinasale Project
from Doyon Limited, an Alaskan Native Regional Corporation, in 2007.
A 5,000 metre program commenced today. The program is aimed at both
upgrading and expanding the current 1.33 MOz (inferred) NI 43-101
compliant resource (37,260,000 tonnes grading 1.11 g/t ). (see news
release dated March 31(st), 2011).
An induced polarization (IP) survey is already underway which is
expected to significantly expand upon the previous IP coverage and is
anticipated to help define other areas that may be prospective to host
additional mineralization outside of the Central Zone. The Central
Zone covers a 300 metre by 400 metre area and hosts all of the current
NI 43-101 compliant resource. The zone remains open in three directions
and to depth.
Drilling by previous operators intersected mineralization similar to
that seen in the Central Zone in the NorthEast Zone which is
locaed1,200 metres to the northeast of the Central Zone. On average
drill holes in NorthEast Zone have been drilled to an average depth of
90 metres are widely spaced.
Significant historical intercepts in this area include:
_________________________________________________
|Hole Number|From |To |Interval |Interval|Au g/t|
| |(ft) |(ft) |(ft) |(m) | |
|___________|_____|_____|_________|________|______|
|VM91-09 |0 |70.5 |70.5 |21.5 |2.85 |
|___________|_____|_____|_________|________|______|
|VM91-15 |129 |170.6|41.6 |12.7 |1.86 |
|___________|_____|_____|_________|________|______|
|VM91-27 |222 |280 |58 |17.7 |1.33 |
|___________|_____|_____|_________|________|______|
|VM91-28 |120.5|184 |62.5 |19.1 |1.77 |
|___________|_____|_____|_________|________|______|
(Note that the drill hole intercepts are historical and have not been
vertified).
The Qualified Person for this release is Curt Freeman, MSc. who has
reviewed and approved the contents of this press release.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold
projects in Alaska.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2011/09/c4275.html
Kristina Walcott - President and CEO
Telephone: 1.604.662.7307
jkw@freegoldventures.com