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Freegold Ventures Com Npv (ITF) $ 1.07
Change: -0.02 (-1.83%)
Volume: 11,300
15:40:34 EDT
Jun-3-08
God Bless
Up 5% on that news! Nice move in Gold today as well! eom
Press Release Source: Freegold Ventures Limited
Freegold Readies for Summer Drilling at Vinasale and Secures $1.8 million in Equipment Financing
Tuesday May 20, 10:44 am ET
VANCOUVER, May 20 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce that field activities on the Vinasale gold project, located 16 miles south of McGrath in central Alaska, will commence in early July. The 2008 program will include ground based geophysics and core drilling aimed at expanding the known limits of the Vinasale deposit.
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Freegold's 2007 exploration program was focused on identifying additional targets in the vicinity of the Vinasale deposit, as previous operators completed only limited systematic work on the surrounding lands. Freegold's program included stream and soil sampling on relatively unexplored parts of the property, followed by an airborne geophysical program which covered the entire property in order to delineate additional areas for subsequent follow-up.
Freegold's 2008 program will focus on the Vinasale deposit, where previous operators drilled 36 holes from 1990 to 1994 on approximately 200-foot spacing within the Central Zone. These holes were used to generate a non-43-101 compliant historical resource of 920,000 ounces of gold (18.04 million tons grading 0.051 oz/ton). (Note that these resource figures are historical in nature and are provided for information purposes only. They are not 43-101 compliant, and as such, should not be relied upon).
Freegold's summer program will include additional sampling, ground geophysics and drilling aimed at confirming and expanding the known gold mineralization within the property. Following the completion of ground-based geophysics in the deposit area in July, a 2,000 foot drill program will be undertaken in order to provide Freegold with a better understanding of the structural controls of the deposit and to expand the area known to contain gold mineralization. Following the completion of this season's drilling program, a new 43-101 compliant resource is expected to be completed.
Freegold holds a Mining Exploration Agreement with Option to Lease with Doyon Limited, an Alaskan Native Regional Corporation, on Doyon's 100% interest in the Vinasale Gold Property. Further information on the terms of this agreement can be found in the news release dated March 2, 2007. The Vinasale gold deposit occurs in the same northeast trending belt of igneous intrusion-related deposits that include the 33 million ounce Donlin Creek gold deposit and the Nixon Fork gold mine.
Convertible Secured Loan Facility
Freegold is also pleased to announce that it has reached agreement to raise US $1,791,000 in a convertible loan facility that will be secured against its bulk sampling related equipment at Golden Summit and against private property that was recently purchased in January adjacent to the Golden Summit property. The loan has a term of 2 years, with the Lenders having the right to accelerate the maturity of the facility any time after the first anniversary of the closing, should Freegold raise additional debt, equity or receive asset sales aggregating $3 million or more. The Lenders also have the right during the term to convert the outstanding principal, in whole or in part, into Freegold common shares at a conversion price of US $1.23/share. The interest rate for the loan is 4% per annum, payable quarterly. No fees were paid in relation to the closing or arrangement of this facility. The foregoing is subject to finalization of definitive documentation and regulatory approval.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production, and that has a proven track-record in transitioning exploration companies into gold producers. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program which has successful identified numerous extensions to the gold mineralization, along with newly identified open-ended areas of molybdenum mineralization. The Company is in the process of generating a new 43-101 resource which will be followed with the commencement of new economic evaluations. Freegold's 40,100-foot drill program in 2007 continued to discovery new high-grade veins and bulk tonnage shear zones on its 93% controlled Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. Further evaluation and expansion of the mineralization is currently being undertaken with a combination of closely spaced shallow drilling, deeper, systematic core drilling and on-going bulk sampling program, which includes seasonal processing of gold mineralization using an on-site gravity-based concentration plant. Drilling in 2008 will also be conducted on the company's 100% controlled Rob property, where the Company has intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo, and on the Vinasale property, where the Company has entered into an exploration agreement with option to lease on a 140,000 acre property in Alaska which contains the previously identified Vinasale gold deposit.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz, President and C.E.O.
DISCLAIMER - This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission. The TSX has neither approved nor disapproved the contents of this news release. CUSIP: 45953B107
CONTACT: Mark Feeney - Investor Relations, (604) 786-2587, mfeeney@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Intersects New High Grade Structures (2 m of 54 g/t Gold) and Multiple Shear Zones in 700 m Step-Out Drilling at Golden Summit
Wednesday April 23, 3:01 am ET
VANCOUVER, April 23 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results from holes in Fence 6 North drilled as part of the Phase 2, 40,000 foot on-going, systematic RAB drilling program at the Golden Summit project outside Fairbanks, Alaska. The closely spaced holes in Fence 6 North cover a north-south area of approximately 850 feet in width, and are a 2,300 foot step-out to the west of Fence 5, which was the limit of the previously identified package of multiple, parallel vein swarms and shear zones tested in the Cleary Hill area last fall. The identification of gold mineralization in Fence 6 North similar to that traced from fence to fence in last year's drilling on the eastern half of this area represents a significant expansion of this bulk tonnage mineralization. Included within the broad zones of lower grade gold mineralization are multiple higher grade structures (e.g. 3 foot intervals of 12.3, 21.8, 14.4, 24.2 g/tonne and a 6 foot interval of 60.3 g/tonne) that have also been shown to be traceable from fence to fence in the drilling on the eastern portion of this area. Fence 6 North drilling has now extended this broad area of gold mineralization in the Cleary Hill area to over 5,000 feet in length, and mineralization continues to remain open along strike in both directions and at depth.
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Fence 6 North consisted of a single row of 46 vertical holes (holes 731 to 776) that were drilled to an average depth of 75 feet. The average spacing between holes was 20 feet, with spacing reduced to 10 feet in areas of intense alteration (which has been shown to correlate well to higher-grade gold mineralization in previous drilling) and extended to 40 feet in areas exhibiting less alteration. This program of shallow RAB drilling is designed to test the extent of the 100 to 300 foot wide east-west trending parallel zones of gold mineralization that have been identified in previous drill fences and in on-going bulk-sampling. Step out drilling in the eastern Tolovana area was conducted last year, and fences 6 to 8 and 15 to 17 were able to trace an individual shear zone to the east, trending directly towards the central part of the 1,200 foot wide area of gold mineralization last delineated in Fence 5.
Fence 6 North has now confirmed additional shear zones to the north of the vein swarm tested in Fence 6, while current drilling is testing for additional shear zones to the south of Fence 6. Fences 17 North and 20, in filling within the 2,300 foot gap between Fence 6 North and Fence 5 have recently been completed and assays are pending. Deeper core drilling is also in progress, with 23 deeper, grid-based holes having been drilled in the Fence 1 and Beistline areas. Given the extension of mineralization in this eastern Tolovana area, and given the intersection of previously unidentified high grade veins in the drilling, Freegold has also drilled 3 deeper core holes into the Fence 6 North area. A map showing the locations of all of the drill fences in the Cleary Hill area at Golden Summit can be found at www.freegoldventures.com/i/maps/maps022708ITF.pdf.
Significant intercepts from Fence 24 include:
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From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton)
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734 6 78 72 0.9 0.03
-------------------------------------------------------------------------
742 39 63 24 1.1 0.03
-------------------------------------------------------------------------
748 39 63 24 2.0 0.06
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Including 57 60 3 12.3 0.36
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749 24 75 51 2.6 0.08
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Including 36 39 3 21.8 0.64
-------------------------------------------------------------------------
Including 51 54 3 9.8 0.29
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Including 66 69 3 6.1 0.18
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751 0 48 48 1.3 0.04
-------------------------------------------------------------------------
Including 0 3 3 14.4 0.42
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757 33 39 6 54.4 1.59
-------------------------------------------------------------------------
including 33 36 3 60.3 1.76
-------------------------------------------------------------------------
including 36 39 3 48.6 1.42
-------------------------------------------------------------------------
758 0 33 33 1.2 0.03
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761 18 39 21 1.0 0.03
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762 9 39 30 0.8 0.02
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765 21 63 42 2.5 0.07
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including 27 30 3 24.2 0.70
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including 60 63 3 6.0 0.17
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769 27 45 18 1.1 0.03
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770 3 45 42 1.2 0.04
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773 24 72 48 1.0 0.03
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including 24 27 3 5.3 0.16
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775 51 78 27 1.4 0.04
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The average of all 1,154 three-foot assay intervals over the 850 foot width of holes in Fence 6 North is 0.52 g/tonne, which compares favorably with the current reported reserve grade of the nearby Fort Knox mine of 0.53 g/tonne).
Steve Manz, President and CEO of the Company, stated "Through our combination of trenching, shallow and deep drilling, and bulk sampling, we are starting to develop an excellent understanding of the gold mineralization in this broad area, and are very encouraged at the successful results and the continuity that our step-out work continues to demonstrate. Bulk sampling and processing on the property, which was suspended in October for the winter season, will re-commence later this quarter. This program is providing us with valuable information as to how the grades of this gold mineralization continue to hold together in larger volumes, and a complete update on our on-going sampling program will be provided shortly."
True widths of the veins reported in this release are variable, as the orientation of the various mineralized structures encountered throughout the drilling is variable. Drilling is currently being conducted with an Ingersol-Rand conventional percussion drill. Cuttings are returned up the drill hole with the use of an OEM vacuum drill cuttings collector, and are dropped from a cyclone directly into a sample bag. Samples are collected every three feet, with the drill bit being pulled off the bottom and the hole cleaned at the completion of each sample interval. Freegold maintains a geologist and sampler at the drill rig for all drilling to take and log all samples to insure that quality assurance and control procedures are in accordance with 43-101 requirements. One duplicate assay is being conducted in every drill hole and either a blank or a standard is inserted in the sample stream every 10 samples. Alaska Assay Laboratories in Fairbanks, Alaska is being used to analyze the drill cuttings for gold via fire assay analysis plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production, and that has a proven track-record in transitioning exploration companies into gold producers. The Company is currently exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program which has successfully identified numerous extensions to the gold mineralization, along with newly identified open-ended areas of molybdenum mineralization. The Company is in the process of generating a new 43-101 resource which will be followed with the commencement of new economic evaluations. Freegold's 40,100-foot drill program in 2007 continued to discover new high-grade veins and bulk tonnage shear zones on its 93% controlled Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. Further evaluation and expansion of the mineralization is currently being undertaken with a combination of closely spaced shallow drilling, deeper, systematic core drilling and on-going bulk sampling program, which includes seasonal processing of gold mineralization using an on-site gravity-based concentration plant. Drilling in 2008 will also be conducted on the company's 100% controlled Rob property, where the Company has intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo, and on the Vinasale deposit, where the Company has entered into an exploration agreement with option to lease on a 140,000 acre property in Alaska which contains the previously identified Vinasale gold deposit
On behalf of the Board of Directors
"Steve Manz"
Steve Manz, President and C.E.O.
DISCLAIMER - This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission. The TSX has neither approved nor disapproved the contents of this news release. CUSIP: 45953B107
CONTACT: Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Freegold Ventures Ltd. (FGOVF) $1.40 $0.139 (+11.02%)
Volume: 51.7 k
12:52 PM EDT Apr 16, 2008
http://investorshub.advfn.com/boards/board.asp?board_id=6586
http://finance.yahoo.com/q?s=FGOVF.OB
Freegold Ventures Ltd. (ITF:CA) $1.41 $0.11 (+8.46%)
Volume: 108.18 k
1:07 PM EDT Apr 16, 2008
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Press Release Source: Freegold Ventures Limited
Freegold Cuts 12 m of 9 g/t Gold at Golden Summit
Tuesday April 8, 9:17 am ET
VANCOUVER, April 8 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results from holes in Fence 24 drilled as part of the Phase 2, 40,000 foot on-going RAB drilling program at the Golden Summit project outside Fairbanks, Alaska. These initial 56 shallow, closely spaced holes in Fence 24 were designed to test the continuity of one of several vein swarms previously identified in Fence 4 (oriented north-south), and again in parallel Fence 5, located a further 375 feet to the west. As with the previous fences which tested this vein swarm, Fence 24 holes intersected high-grade vein material (e.g. 39 feet assaying 8.9 g/t, including 6 feet of 31.5 g/t, and 6 feet grading 13.9 g/t) within lower-grade, wider shear zones.
Fence 24 consisted of two rows of holes with an average depth of 70 feet and average hole spacing of 20 feet. In order to facilitate drilling, holes were located along the previously constructed haul road which runs along both sides of Fence 4, and which provided eastern and western step-outs ranging from 75 to 150 feet. Significant intercepts from Fence 24 include:
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Hole From To Thickness Gold Grade Gold Grade
Number (foot) (foot) (feet) (g/tonne) (oz/ton)
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682 24 48 24 1.3 0.037
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684 33 72 39 8.9 0.260
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including 42 72 30 11.2 0.326
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including 42 48 6 31.5 0.919
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685 3 63 60 1.7 0.048
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including 57 63 6 8.1 0.235
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694 15 36 21 5.6 0.162
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including 27 33 6 13.9 0.405
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695 36 69 33 2.8 0.083
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including 36 54 18 4.0 0.116
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699 9 60 51 1.6 0.045
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including 15 27 12 4.1 0.118
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702 63 72 9 2.4 0.069
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703 48 69 21 1.1 0.031
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709 39 75 36 2.6 0.075
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including 39 60 21 3.9 0.113
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Analysis of the assays from the Fence 24 holes shows that the structures within this particular swarm of veins, as defined by Fences 24, 4 and 5, exhibit good continuity over a 550 foot strike length and a uniform width of approximately 150 feet. Individual mineralized structures of similar thicknesses within this 150 foot wide shear zone can also now be traced from fence to fence. These include the higher grade intercepts shown in the table above, along with those identified in Fence 4 (6 feet grading 20.5 g/t in hole 191, 6 feet grading 15.0 g/t in hole 194 and 3 feet grading 19.3 g/t in hole 196) and Fence 5 (9 feet grading 25.3 g/t (including 3 feet of 65.5 g/t) in hole 521). A map showing the locations of the drill fences can be found at http://www.freegoldventures.com/i/maps/map022708ITF.pdf.
These in-fill results and the continuity exhibited by this mineralization adds to the confidence level that the other 100 to 300 foot wide parallel vein swarms identified through last year's wide spaced fences in this open-ended 5,000 foot long by 1,200 foot wide zone may exhibit similar continuity. As indicated in our previous release dated March 4, 2008, Freegold has also commenced its initial systematic core drilling to test the potential for deeper mineralization within the Cleary Hill area. This drilling includes testing of the same vein swarm outlined in Fence 24, but a further 800 feet to the east, and systematic deeper drilling in the Beistline area. A total of 23 of these deeper core holes have been completed to date in these two areas, and the first of the assay results are expected to be received over the coming weeks.
True widths of the veins reported in this release are variable, as the orientation of the various mineralized structures encountered throughout the drilling is variable. Drilling is currently being conducted with an Ingersol-Rand conventional percussion drill. Cuttings are returned up the drill hole with the use of an OEM vacuum drill cuttings collector, and are dropped from a cyclone directly into a sample bag. Samples are collected every three feet, with the drill bit being pulled off the bottom and the hole cleaned at the completion of each sample interval. Freegold maintains a geologist and sampler at the drill rig for all drilling to take and log all samples to insure that quality assurance and control procedures are in accordance with 43-101 requirements. One duplicate assay is being conducted in every drill hole and either a blank or a standard is inserted in the sample stream every 10 samples. Alaska Assay Laboratories in Fairbanks, Alaska is being used to analyze the drill cuttings for gold via fire assay analysis plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit, and newly identified open ended areas of molybdenum mineralization continue to be encountered along with the gold in the northern portions of the deposit.
Freegold's Phase 1 40,100-foot drill program has resulted in the discovery of new high-grade veins and bulk tonnage shear zones on its Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. In order to further evaluate the mineralized zones delineated to date, an on-site seasonal bulk sample processing plant using a gravity-based concentration was constructed Exploration is ongoing as the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping.
Exploration in 2007 included an airborne geophysical survey and surface sampling program on the 140,000 acre Vinasale property which contains the Vinasale gold deposit and drilling on the Rob property in Alaska, which intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo mine.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Good news keeps coming here and stock is up today, but performance overall has not been so hot lately. People just don't seem to want the junior miners. A fact soon to change in a big way I think.
High-grade gold mineralization intersected in all eight
of its core holes drilled into the Gray Lead vein last
summer
including 29.0 g/t over 13 feet
and 20.1 g/t over 13.5 feet),
as well as additional mapping, geophysics and drilling
on numerous other targets on strike and parallel
to the Gray Lead vein.
Eight holes (1,529 feet) were drilled into Gray Lead last year
from two drill pads that identified the gold mineralized
quartz vein over a strike length of 170 feet (the distance
between the 2 drill pads) and a down dip length of 240 feet
(the deepest hole to intercept the vein).
Gold mineralization within the vein
(which has a variable true width averaging in excess of 10 feet)
remains open in all directions, and exhibited grades similar
to the initial grab samples taken by Freegold in 2002, 2006
and 2007 (which included 7.4, 9.4, 17.1, 28.8, 20.5, 49.8
and 72.2 g/tonne).
Results from this drilling can be found in the October 11,
2007 news release.
The 2008 work, consisting of mapping, ground geophysics and
drilling, will commence following the snow melt in mid to
late May and will initially focus on the Gray Lead vein.
http://biz.yahoo.com/cnw/080331/freegold_rob_drilling.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=6526
Since the opening of the nearby 5.6 million oz Pogo gold mine
in 2006 -
the Goodpastor Mining District has received
considerable investor attention,
Note....most notably....
with the consolidation of a 513,000 acre land package
through staking and joint venturing by
Goldcorp founder Rob McEwen.
This large land package -
(subsequently merged into Rubicon Minerals) surrounds
the Pogo mine and the Rob property,
and was acquired due to the shared belief that
the gold mineralization at Pogo is not a unique
occurrence in the district.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28135860
Freegold Ventures Ltd. (FGOVF) $1.30 $0.04 (+3.17%)
Volume: 400
10:28 AM EDT Apr 2, 2008
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28135860
Freegold Drilling to Focus on Expanding Pogo-Style High-Grade Gold Veins at Rob
Monday March 31, 10:52 am ET
VANCOUVER, March 31 /CNW/ -
http://biz.yahoo.com/cnw/080331/freegold_rob_drilling.html?.v=1
Freegold Ventures Limited -
(TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased
to announce its 2008 work plans for its 100% leased
Rob property in the interior of Alaska.
The program will include ground geophysics, geologic mapping
and additional core drilling to trace and expand the
high-grade gold mineralization intersected in all eight of
its core holes drilled into the Gray Lead vein last summer
(including 29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet),
as well as additional mapping, geophysics and drilling
on numerous other targets on strike and parallel to
the Gray Lead vein.
The gold-bearing veins encountered to date on the property
share many geological similarities to those currently
being mined 20 miles to the west at
the 350,000 to 450,000 oz/year Pogo gold mine,
and the numerous untested targets on the property that
contain high-grade gold in surface grab sampling similar
to those which identified the Gray Lead vein, will also be
the subject of the upcoming exploration programs.
Although Freegold acquired its initial interest in
the Rob property in 2002, it was not until last year that
the Company conducted its first drilling program at
the property, given the focus that the new management team
had initially given to the more advanced
Almaden and Golden Summit properties.
Since the opening of the nearby 5.6 million oz Pogo gold mine
in 2006, the Goodpastor Mining District has received
considerable investor attention, most notably with
the consolidation of a 513,000 acre land package through
staking and joint venturing by Goldcorp founder Rob McEwen.
This large land package (subsequently merged into Rubicon
Minerals) surrounds the Pogo mine and the Rob property,
and was acquired due to the shared belief that the gold
mineralization at Pogo is not a unique occurrence in
the district.
Freegold's initial drilling last year confirmed this to be
the case with the intersection of high-grade gold
mineralization in a similar vein hosted within the same
gneissic dome that hosts the mineralization at Pogo.
The 2008 work, consisting of mapping, ground geophysics
and drilling, will commence following the snow melt in mid
to late May and will initially focus on the Gray Lead vein.
Eight holes (1,529 feet) were drilled into Gray Lead last year
from two drill pads that identified the gold mineralized
quartz vein over a strike length of 170 feet
(the distance between the 2 drill pads) and a down dip length
of 240 feet (the deepest hole to intercept the vein).
Gold mineralization within the vein (which has a variable
true width averaging in excess of 10 feet) remains open in
all directions, and exhibited grades similar to the initial
grab samples taken by Freegold in 2002, 2006 and 2007 (which
included 7.4, 9.4, 17.1, 28.8, 20.5, 49.8 and 72.2 g/tonne).
Results from this drilling can be found in the
October 11, 2007 news release.
The initial work at Gray Lead will be mapping and ground-based geophysics aimed at tracing the vein further along strike followed by an initial 3,000 feet of core drilling which is expected to start at the beginning of July. Step-out drilling of 175 feet in both the north and south directions along strike will test the vein over a strike length in excess of 500 feet. Deeper holes will also allow the down dip extension of the vein to be tested to a depth of approximately 400 feet.
Approximately 2,000 feet of drilling will also be undertaken on the Michigan prospect. This prospect lies approximately 2 miles to the northeast of Gray Lead and is situated on strike and on the same mapped geological structure which hosts Gray Lead. Previous surface mapping has shown that the Michigan prospect appears to be a series of intrusive hosted mineralized structures rather than a single vein at this location. This area has never been drill tested, and previous grab sampling by Freegold in this area has returned assays of 0, 2.4, 2.9, 6.4, 11.5, 24.3, 29.8, 120.6, 175.1 and 698.9 g/tonne (information concerning these samples can be found in the August 30, 2007 news release.) Drilling is expected to be from three fences approximately 175 feet apart that will test the target to a depth of at least 300 feet.
Exploration will also be conducted on other target areas on the property including the Grizzly and Blue Lead veins (which appear to be the same structure), the Upper and Lower Trench prospects, the Wolverine prospect and several other areas of mineralization identified by previous exploration work. As seen below, grab samples from these prospects have also returned excellent gold grades, and 2008 surface work will be used to guide future drill testing.
-------------------------------------------------------------------------
Gold Gold Gold Gold
Year Grade Grade Year Grade Grade
Prospect Sampled (g/t) (oz/t) Prospect Sampled (g/t) (oz/t)
-------------------------------------------------------------------------
Hilltop 2002 8.7 0.25 Blue Lead 2006 46.7 1.36
-------------------------------------------------------------------------
Upper Trench 2002 8.8 0.26 Blue Lead 2006 1.1 0.03
-------------------------------------------------------------------------
Lower Trench 2002 15.4 0.45 Blue Lead 2006 19.6 0.57
-------------------------------------------------------------------------
Lower Trench 2002 14.4 0.42 Blue Lead 2006 0.2 0.004
-------------------------------------------------------------------------
Lower Trench 2002 22.3 0.65 Grizzly 2007 31.8 0.93
-------------------------------------------------------------------------
Blue Lead 2006 23.5 0.69
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Freegold President and CEO, Steve Manz stated "We have been very fortunate to have secured the drill rigs we need for our various programs for this year, and 2008 is expected to be our most active year ever in terms of the number of drilling programs being undertaken on all of our properties. We are very excited about the new drilling at Rob in the coming months, and hope that the high grade grab samples we have previously collected at the other prospects on this 4 mile long property are as indicative of the high-grade vein mineralization underneath as they were at Gray Lead. Drilling at Golden Summit continues to go extremely well, and initial results from this work are expected shortly".
Assay results for grab and core samples cited herein were obtained from samples collected by Avalon Development Corporation, consultants to Freegold, under the supervision of Curt Freeman, MS., PGeo, Qualified Person as defined by NI 43-101. Alaska Assay Laboratories in Fairbanks, Alaska was used to analyze the drill core and grab samples collected in 2006/2007 via fire assay analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion. The grab samples in 2002 were submitted to ALS Chemex in Fairbanks, Alaska (prep) and Vancouver, B.C. (analytical) for fire assay analysis for gold plus multi element ICP-AES analysis using 4 acid digestion. Given the high-grade results returned from many of the core fire assays, samples which returned grades in excess of 1 g/t were re-analysed using the metallic sieve method. On average, the met screen results were 7.4% higher than those generated by fire assay, and a simple scatter plot of the data showed a relatively linear pattern centred on the 1:1 correlation line, suggesting that there is no predictable nugget effect and that the results can be seen as reliable.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit, and newly identified open ended areas of molybdenum mineralization continue to be encountered along with the gold in the northern portions of the deposit.
Freegold's 40,100-foot drill program has resulted in the discovery of new high-grade veins and bulk tonnage shear zones on its Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. In order to further evaluate the mineralized zones delineated to date, an on-site seasonal bulk sample processing plant using a gravity-based concentration was constructed. Exploration is ongoing as the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping.
Exploration in 2007 included an airborne geophysical survey and surface sampling program on the 140,000 acre Vinasale property which contains the Vinasale gold deposit and drilling on the Rob property in Alaska, which intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo mine.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
For further information
Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
Source: Freegold Ventures Limited
http://biz.yahoo.com/cnw/080331/freegold_rob_drilling.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=6526
Press Release Source: Freegold Ventures Limited
Freegold Drilling to Focus on Expanding Pogo-Style High-Grade Gold Veins at Rob
Monday March 31, 10:52 am ET
VANCOUVER, March 31 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce its 2008 work plans for its 100% leased Rob property in the interior of Alaska. The program will include ground geophysics, geologic mapping and additional core drilling to trace and expand the high-grade gold mineralization intersected in all eight of its core holes drilled into the Gray Lead vein last summer (including 29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet), as well as additional mapping, geophysics and drilling on numerous other targets on strike and parallel to the Gray Lead vein. The gold-bearing veins encountered to date on the property share many geological similarities to those currently being mined 20 miles to the west at the 350,000 to 450,000 oz/year Pogo gold mine, and the numerous untested targets on the property that contain high-grade gold in surface grab sampling similar to those which identified the Gray Lead vein, will also be the subject of the upcoming exploration programs.
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Although Freegold acquired its initial interest in the Rob property in 2002, it was not until last year that the Company conducted its first drilling program at the property, given the focus that the new management team had initially given to the more advanced Almaden and Golden Summit properties. Since the opening of the nearby 5.6 million oz Pogo gold mine in 2006, the Goodpastor Mining District has received considerable investor attention, most notably with the consolidation of a 513,000 acre land package through staking and joint venturing by Goldcorp founder Rob McEwen. This large land package (subsequently merged into Rubicon Minerals) surrounds the Pogo mine and the Rob property, and was acquired due to the shared belief that the gold mineralization at Pogo is not a unique occurrence in the district. Freegold's initial drilling last year confirmed this to be the case with the intersection of high-grade gold mineralization in a similar vein hosted within the same gneissic dome that hosts the mineralization at Pogo.
The 2008 work, consisting of mapping, ground geophysics and drilling, will commence following the snow melt in mid to late May and will initially focus on the Gray Lead vein. Eight holes (1,529 feet) were drilled into Gray Lead last year from two drill pads that identified the gold mineralized quartz vein over a strike length of 170 feet (the distance between the 2 drill pads) and a down dip length of 240 feet (the deepest hole to intercept the vein). Gold mineralization within the vein (which has a variable true width averaging in excess of 10 feet) remains open in all directions, and exhibited grades similar to the initial grab samples taken by Freegold in 2002, 2006 and 2007 (which included 7.4, 9.4, 17.1, 28.8, 20.5, 49.8 and 72.2 g/tonne). Results from this drilling can be found in the October 11, 2007 news release.
The initial work at Gray Lead will be mapping and ground-based geophysics aimed at tracing the vein further along strike followed by an initial 3,000 feet of core drilling which is expected to start at the beginning of July. Step-out drilling of 175 feet in both the north and south directions along strike will test the vein over a strike length in excess of 500 feet. Deeper holes will also allow the down dip extension of the vein to be tested to a depth of approximately 400 feet.
Approximately 2,000 feet of drilling will also be undertaken on the Michigan prospect. This prospect lies approximately 2 miles to the northeast of Gray Lead and is situated on strike and on the same mapped geological structure which hosts Gray Lead. Previous surface mapping has shown that the Michigan prospect appears to be a series of intrusive hosted mineralized structures rather than a single vein at this location. This area has never been drill tested, and previous grab sampling by Freegold in this area has returned assays of 0, 2.4, 2.9, 6.4, 11.5, 24.3, 29.8, 120.6, 175.1 and 698.9 g/tonne (information concerning these samples can be found in the August 30, 2007 news release.) Drilling is expected to be from three fences approximately 175 feet apart that will test the target to a depth of at least 300 feet.
Exploration will also be conducted on other target areas on the property including the Grizzly and Blue Lead veins (which appear to be the same structure), the Upper and Lower Trench prospects, the Wolverine prospect and several other areas of mineralization identified by previous exploration work. As seen below, grab samples from these prospects have also returned excellent gold grades, and 2008 surface work will be used to guide future drill testing.
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Gold Gold Gold Gold
Year Grade Grade Year Grade Grade
Prospect Sampled (g/t) (oz/t) Prospect Sampled (g/t) (oz/t)
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Hilltop 2002 8.7 0.25 Blue Lead 2006 46.7 1.36
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Upper Trench 2002 8.8 0.26 Blue Lead 2006 1.1 0.03
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Lower Trench 2002 15.4 0.45 Blue Lead 2006 19.6 0.57
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Lower Trench 2002 14.4 0.42 Blue Lead 2006 0.2 0.004
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Lower Trench 2002 22.3 0.65 Grizzly 2007 31.8 0.93
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Blue Lead 2006 23.5 0.69
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Freegold President and CEO, Steve Manz stated "We have been very fortunate to have secured the drill rigs we need for our various programs for this year, and 2008 is expected to be our most active year ever in terms of the number of drilling programs being undertaken on all of our properties. We are very excited about the new drilling at Rob in the coming months, and hope that the high grade grab samples we have previously collected at the other prospects on this 4 mile long property are as indicative of the high-grade vein mineralization underneath as they were at Gray Lead. Drilling at Golden Summit continues to go extremely well, and initial results from this work are expected shortly".
Assay results for grab and core samples cited herein were obtained from samples collected by Avalon Development Corporation, consultants to Freegold, under the supervision of Curt Freeman, MS., PGeo, Qualified Person as defined by NI 43-101. Alaska Assay Laboratories in Fairbanks, Alaska was used to analyze the drill core and grab samples collected in 2006/2007 via fire assay analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion. The grab samples in 2002 were submitted to ALS Chemex in Fairbanks, Alaska (prep) and Vancouver, B.C. (analytical) for fire assay analysis for gold plus multi element ICP-AES analysis using 4 acid digestion. Given the high-grade results returned from many of the core fire assays, samples which returned grades in excess of 1 g/t were re-analysed using the metallic sieve method. On average, the met screen results were 7.4% higher than those generated by fire assay, and a simple scatter plot of the data showed a relatively linear pattern centred on the 1:1 correlation line, suggesting that there is no predictable nugget effect and that the results can be seen as reliable.
The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited has reviewed and approved the contents of this release.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit, and newly identified open ended areas of molybdenum mineralization continue to be encountered along with the gold in the northern portions of the deposit.
Freegold's 40,100-foot drill program has resulted in the discovery of new high-grade veins and bulk tonnage shear zones on its Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. In order to further evaluate the mineralized zones delineated to date, an on-site seasonal bulk sample processing plant using a gravity-based concentration was constructed. Exploration is ongoing as the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping.
Exploration in 2007 included an airborne geophysical survey and surface sampling program on the 140,000 acre Vinasale property which contains the Vinasale gold deposit and drilling on the Rob property in Alaska, which intersected high-grade gold in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo mine.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
With gold futures hitting US$1,000 per ounce, more investors seeking out shiny metal
Thursday, March 13th, 2008
Brandon Sun
http://www.brandonsun.com/story.php?story_id=95725
TORONTO - With gold prices hitting US$1,000 an ounce and seemingly set to keep on rising, the shiny, eye-catching metal is attracting more and more investors seeking to reduce risk in their portfolios as the U.S. dollar sinks and oil prices soar.
Analysts say they see no end in sight to this bull market - where the prices of precious metals tend to be negatively correlated to financial assets - as oil production declines and demand increases around the world.
Camilla Sutton, a currency strategist at Scotia Capital, said Thursday "it's hard to be a gold bear right now, that's for sure."
The move in the price of gold, she said, "has been dramatic and the forecast continues to look quite bullish," given U.S. economic weakness combined with inflationary pressures and a very, very weak U.S. dollar.
While "we could well see a pare back just because the move has been so violent and fast... looking out to the end of this year we see it staying at historically elevated levels."
Nick Barisheff, portfolio manager of the Millennium Bullion Fund at Bullion Management Group Inc., says "if you invest in bullion it's probably going to stay high and go higher."
Two elements will continue to contribute to a rising gold price for the foreseeable future, he said. The first one is a rising oil price.
"Production is in decline. We hit peak oil production apparently in February 2006 ... (Meanwhile) demand is rising" in North America, China, India, Russia and Brazil.
"That situation isn't going to be corrected in any way in the foreseeable future," said Barisheff. "Even if we found a huge oil field, it would take between five and ten years to get it into production."
The rising oil price has two implications. "It's highly inflationary because oil is used in everything we do or make or eat," he said.
Secondly, "over the very long term oil and gold are somewhat correlated in that they move in similar directions. And over a very long-term average, you could look at about 15 to one in terms of pricing," said Barisheff.
"Right now gold is under that ratio at about nine to one so it's got some catching up to do relative to the oil price."
The second element that doesn't seem to have any foreseeable curtailment is the increasing money supply in most countries.
While the U.S. Fed stopped reporting M3 a couple of years ago, other people have recalculated the number and their conclusions are that M3 in the U.S. is growing by 16 per cent annualized, he said.
Barisheff also said the money supply in China is growing by 18 per cent, India by 20 per cent, Russia by 48 and the Euro zone by about 12.
"So the world is printing a lot of paper money, which then also becomes inflationary and the price of gold rises," he said.
"When you look at what's coming down the pipe it doesn't look like that's going to slow down. It looks like it's going to speed up."
Gold, which has soared to record levels in the past year, hit a new milestone Thursday, rising to US$1,000 an ounce for the first time in futures trading - a boon for investors, but a deterrent to consumers shopping for jewelry.
After topping $1,001 on the New York Mercantile Exchange, gold for April delivery fell back to settle at $993.80 an ounce on Thursday. Analysts say gold could still go higher, especially if the U.S. Federal Reserve cuts interest rates again next week as expected.
Meanwhile, crude oil prices surged to a new trading record of US$111 on the New York Mercantile Exchange Thursday, then slipped back to close up 41 cents to settle at a record $110.33 a barrel.
When it comes to investing in gold, Barisheff favours physical bullion over gold mining companies.
Mining companies, he said, are riskier than physical bullion. "When you own the metal, it's there. It can't go to zero. Mining companies often have gone to zero."
The price of precious metals tends to be negatively correlated to financial assets, "meaning that they move in opposite directions," he said.
"By having an allocation to bullion it effectively gives you the equivalent of portfolio insurance," said Barisheff.
In 1987, the equity markets declined by 30 per cent. Mining stocks declined by 60 per cent, and the price of gold was rising, he said.
Other risk factors with mining companies include rising costs for such things as fuel, equipment, maintenance, labour.
They are "also running into geopolitical issues where governments are looking at nationalizing, increasing the royality rates," he said.
But "it's not an either/or decision, like mining shares or bullion," said Barisheff.
"They're two separate different asset classes that have different risk/reward relationships and different correlations in terms of how they move up and down."
With every investor and every portfolio, he said, "they should look at what is suitable. But you need to start with a foundation in bullion and then look at, is now the right time to speculate in mining shares."
Freegold Step-Out Drilling Continues to Intersect New Gold/Moly Occurrences at Surface and Depth
Thursday March 13, 7:00 am ET
VANCOUVER, March 13 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to report additional assays from the Company's Phase 2 step-out drill program on its Almaden project in south western Idaho. Completed late last year, the Phase 2 program was designed to test for additional zones of gold and molybdenum mineralization along strike from the Main and North Zones. These latest holes confirm that gold mineralization assaying above the previously used resource cut-off grade of 0.01 oz/ton (0.34 g/t) continues to be intersected at the extreme southern end of the Main Zone to depths of approximately 400 feet, and in two new step-out areas located 1,200 and 3,000 feet to the northwest of the North Zone. Molybdenum mineralization is also present in these various step-outs, with one hole testing for deeper mineralization under the North Zone intersecting the highest grade molybdenum intercepts to date on the property (55 feet grading 0.22% Mo, including 5 feet grading 1.39% Mo).
Two additional step-out holes (699 and 704) were drilled at the southern end of the Main Zone. These holes were step-outs further to the south of holes 718 and 720 that were reported on January 30, 2008 which interesected gold mineralization in the hanging wall of the main feeder structure and which returned gold grades of 145 feet grading 0.024 oz/ton (0.83 g/t), 225 feet grading 0.032 oz/ton (1.09 g/t) and 355 feet grading 0.021 oz/ton (0.70 g/t). The step-out holes were both located on the extreme southern end of Nutmeg Mountain, with hole 699 drilled with an azimuth of 80 degrees and a dip of -80 degrees, and hole 704 drilled with an azimuth of 170 degrees and a dip of -70 degrees. Although these holes did not encounter the higher grades typically encountered in proximity to the main feeder zone, they did intersect thick intervals of lower grade mineralization that assay above the resource cut-off and that would expect to be picked up in future pit designs. Significant intercepts from these southern step-out holes include:
[continued in following link]
http://biz.yahoo.com/prnews/080313/to200.html?.v=63
Freegold Commences Systematic Deeper Core Drilling at Golden Summit
Tuesday March 4, 9:08 am ET
http://biz.yahoo.com/prnews/080304/to304.html?.v=34
VANCOUVER, March 4 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce the commencement of a 15,000-foot core drilling program at its Golden Summit project outside Fairbanks, Alaska. Drilling is aimed at testing the potential for deeper gold mineralization in areas where bulk tonnage and high-grade vein mineralization have been identified with shallow, close spaced drilling and surface bulk sampling. Initial drilling in central part of the Cleary Hill south vein swarm is encountering numerous zones of shearing, alteration and quartz veining throughout the hole depths. These zones are similar in appearance to the mineralized zones encountered in the Fence 1 shallow RAB drilling that contained gold.
While the program of shallow, closed spaced RAB drilling conducted from December 2006 to November 2007 (674 holes totaling 40,093') identified areas of both high-grade veins and bulk tonnage mineralization over strike lengths of a minimum of 5,000 feet, this is first systematic deeper testing of the mineralization with the aim of developing gold resources.
Holes 1-5 were designed to test the continuity to depth of the 300 foot wide zone of mineralization encountered on the southern end of RAB Fence 1 (http://www.freegoldventures.com/i/maps/map022708ITF.pdf), with each hole stepping 100 feet further south. Four holes were drilled to the north at 60 degrees, as the majority of structures exposed by bulk sampling in this area dip 60-65 degrees to the south. In order to check that structures of differing angles were not missed, one hole was drilled to the south at an angle of 45 degrees.
Alteration, mineralization, shearing and quartz veining similar to that seen in the bulk sample cuts and in the shallow Fence 1 RAB drilling have been seen extending to depth in all five holes. Hole 5, planned to extend beyond this mineralized zone and into the Cleary Hill structural zone intersected this parallel system at a depth of 635 feet. The hole is currently being deepened in order to test the width of the zone. The mineralized rocks intersected at this depth appear similar to those found on the Cleary Hill mine dump at the number 3 portal, where lower grade mineralization from the bottom of the Cleary Hill mine was separated from the +1 oz/ton vein material that was sent to the mill.
Following the completion of the initial drilling in the Fence 1 area, the drill will be moved to the Beistline area where it will begin testing the continuity of the Beistline structure along strike and to depth. Five fences, consisting of 3 holes (100 foot spacing between holes and 100 feet between fences), will test the Beistline structure from the old Beistline shaft 500 feet west and 300 feet down dip. These holes will also test the continuity of the parallel B1 and B2 structures, as well as the 'bleed' mineralization found during bulk sampling to extend between these parallel structures along the more brittle rocks in the schists that host the structures and mineralization. Following drilling in the Beistline area and the receipt of assays from the original holes, the drill is expected to return to the Fence 1 area to continue with 100 foot step outs along strike to provide sufficient drill density to generate an initial gold resource on the property.
The Qualified person for this release is Michael P. Gross, M.S., P.Geo, VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit, and newly identified open ended areas of molybdenum mineralization continue to be encountered along with the gold in the northern portions of the deposit.
Freegold's 40,100-foot drill program has resulted in the discovery of new high-grade veins and bulk tonnage shear zones on its Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. In order to further evaluate the mineralized zones delineated to date, on-site seasonal bulk sample processing using a gravity-based concentration plant has commenced. Exploration is ongoing as the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping.
Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed on this 140,000 acre property which contains the Vinasale gold deposit., and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo mine.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
2 gap up days in a row. Obviously there are no sellers. Just imagine if we can get some real buyers in here!
Freegold Ventures Limited Video...
Freegold Ventures Limited is a North American e...
Press Release Source: Freegold Ventures Limited
Freegold Commences 40,000 foot Phase 2 Expansion Drill Program at Golden Summit
Wednesday February 27, 9:15 am ET
VANCOUVER, Feb. 27 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce the first of a series of drilling programs that will be undertaken on its projects this year. Each program is designed to further delineate and extend the new, open-ended mineralized zones intersected in the 2007 programs, and to continue to expand and further upgrade the Company's gold resources.
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The first program to be undertaken is a 40,000 foot Phase 2 continuation of the systematic RAB drill program that was conducted from December 2006 through November 2007 on the Golden Summit project outside Fairbanks, Alaska. This program consisted of 674 (40,093 feet) shallow, closed spaced vertical holes that were drilled in north-south oriented lines of holes at various locations along a mile wide east-west oriented area of gold mineralization in the vicinity of the historic Cleary Hill Mine. This area was seen to contain broad and continuous gold-bearing shear zones over the entire mile length and over a maximum tested width of 1,500 feet. The mineralization identified in this first phase of drilling remains open in all directions. This mineralized area is comprised of multiple 100 to 300 foot wide parallel shear zones that can be traced from drill fence to fence. The shears themselves contain multiple high grade narrow veins (which was the focus of historical underground mining in the camp) surrounded by lower grade mineralization, that in its entirety, presents attractive bulk mineable, open pit mineralized targets.
As seen in Figure 1 (www.freegoldventures.com/i/maps/Map_022708ITF.jpg) the initial fences were drilled in the eastern half of the area, starting in the vicinity of the old Beistline shaft, where trenching, stripping and the first bulk sampling initially revealed the potential bulk mineable nature of the gold mineralization. As the first fences ended with good gold mineralization in the holes at the northern and southern ends, subsequent fences were drilled over progressively longer lengths as they moved westward. These initial fences were drilled as 500 foot step-outs until Fence 5 (covering 1,725 of width) which contained multiple 100 to 275 foot wide zones, each averaging more than 1 g/t over the maximum 78 foot depth capability of the RAB drill. Fence 6 was a subsequent 2,300 foot step out to the west testing a particular shear target with shorter fence lengths. This particular shear was then traced back to the east in Fences 7, 8, 16-19 where it is now appears to be trending into the heart of the main vein swarm south of the Cleary Hill mine.
The Phase 2 drilling, which will continue to use the same percussion blast-hole drill equipped with an OEM dust and drill cutting collector, is designed to test and delinate multiple expansion targets. As Phase 1 drilling encountered high-grade intercepts over significant widths at or near surface in many of the fences (e.g. 9' @ 28.5 g/t (Fence 15), 3' @ 33.9 g/t (Fence 9), 6' @ 23.4 g/t (Fence 3), 9' @ 25.3 g/t (Fence 5), and 3' @ 34.8 g/t and 15' @ 19.6 g/t in the Beistline area), the first fences in Phase 2 are designed to test the continuity of some of the wider, higher grade areas of gold mineralization along strike. Drilling has now commenced with short fences of holes (Fence 24) stepping out from 75 to 150 feet on either side of multiple higher-grade mineralized intercepts encountered in Fence 4 (e.g. 6' @ 20.5 g/t , including 3' @ 36.2 g/t (hole 191), 6' @ 15.0 g/t, including 3' @ 22.2 g/t (hole 194), and 3' @ 19.3 g/t (hole 196)). Logging of drill cuttings recovered from holes already completed is identifying visible gold in some of the drill holes, indicating that these higher grade shears and veins zones may have continuity along strike.
Subsequent fences will be drilled in the Tolovana mine area on the western end of the zone. Since the original fences in this area only tested the mineralized zone over widths of approximately 100 feet, two of the Fences (6 and 17) will each get extensions to the north and south (Fences 6 N and 17 N extensions plus Fences 22 and 23 to the south) totaling an extra 1,000 feet to determine if the same width of mineralization seen in Fence 5 continues to the west. Fence 20 will then be drilled over a length of 1,750 feet to cover the last large gap between Fences 5 and 19. These three fences were bulldozed to bedrock last fall before freeze-up in order to facilitate the commencement of winter drilling. Numerous areas of quartz veining and alteration were seen in this stripping, and significant grab samples taken at surface along the area to be drilled include 5.2 and 80.5 g/t along Fence 20, and 7.5, 8.3, 12.3 and 23.7 g/t along Fence 22.
Following completion of extensional and in-fill drilling on the western side of the zone, RAB drilling will move back to the eastern Beistline area. Fence 25 will test for additional parallel vein swarms over a distance of 500 feet to the south of where the previous RAB drilling and bulk sampling ended in gold mineralization. This will be followed by Fence 26, an 800 foot eastward step out that will be the first systematic exploration east of the Beistline shaft area to determine if the vein swarm continues in this direction. If this step out is successful, plans for additional step outs to the east will be developed.
In addition to this ongoing RAB drilling (which is continuing to be viewed as a cost effective exploration tool to determine the areal extent of mineralization in this area), the Company will also be conducting a deeper core drilling program that will provide the first systematic testing of this gold mineralization to depth, and provide the Company with the first opportunity to begin determining the resource potential in this Cleary Hill mine area. Detailed information on this drill program, an update on initial Golden Summit bulk sampling results, and information on drill programs currently planned on our other Alaskan projects will be reported shortly.
True widths of the veins reported in this release are variable, as the orientation of the various mineralized structures encountered throughout the drilling is variable. Drilling is currently being conducted with an Ingersol-Rand conventional percussion drill. Cuttings are returned up the drill hole with the use of an OEM vacuum drill cuttings collector, and are dropped from a cyclone directly into a sample bag. Samples are collected every three feet, with the drill bit being pulled off the bottom and the hole cleaned at the completion of each sample interval. Freegold maintains a geologist and sampler at the drill rig for all drilling to take and log all samples to insure that quality assurance and control procedures are in accordance with 43-101 requirements. One duplicate assay is conducted in every drill hole and either a blank or a standard is inserted in the sample stream every 10 samples. Alaska Assay Laboratories in Fairbanks, Alaska is being used to analyze the drill cuttings for gold via fire assay analysis plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has recently finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit, and newly identified open ended areas of molybdenum mineralization continue to be encountered along with the gold in the northern portions of the deposit.
Freegold's 40,100-foot drill program has resulted in the discovery of new high-grade veins and bulk tonnage shear zones on its Golden Summit project outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been recovered from Golden Summit which is situated less than 5 miles to the north of the +7 million ounce Fort Knox Mine. In order to further evaluate the mineralized zones delineated to date, on-site seasonal bulk sample processing using a gravity-based concentration plant has commenced. Exploration is ongoing as the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping.
Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed on this 140,000 acre property which contains the Vinasale gold deposit, and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in near surface quartz veins similar in appearance and grade to those being mined at the nearby 5.6 million ounce Pogo mine.
The Qualified person for this release is Michael P. Gross, M.S., P.Geo, VP Exploration, Freegold Ventures Limited.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Ventures Appoints Robert Jackson to its Board
Tuesday February 12, 8:30 am ET
www.freegoldventures.com
VANCOUVER, Feb. 12 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce the appointment of Robert W. Jackson to its Board of Directors. Robert has over 30 years of experience in the mining and investment banking industries, and has played an instrumental role in transitioning numerous companies from mineral exploration to mineral production.
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Robert holds the Chartered Financial Analyst® designation along with Masters Degrees in both mining engineering and business administration. During his investment banking career, Robert gained extensive experience in the areas of research, corporate finance and royalty financing working for companies such as Burns Fry Limited, Dundee Securities Corporation, S.G. Warburg Limited and Midland Walwyn Capital Inc. Robert has raised over $1 billion in debt, equity and royalty financing through his career, and has been directly involved in numerous mergers, acquisitions and valuations for both junior and major mining companies.
Robert is currently the CEO of Tiomin Resources Inc., a TSX listed company involved in the exploration and development of mineral projects in Kenya and Peru. Prior to joining Tiomin in 2006, Robert was a founding Director and the Executive Vice President of Corporate Development of Jaguar Mining Inc. Robert was instrumental during his four years with the company in helping bring Jaguar to producer status, and today Jaguar is one of the fastest growing gold miners in Brazil with a market capitalization in excess of $720 million. Robert's work within the mining industry also includes engineering and underground mining work with Falconbridge.
Freegold President and CEO Steve Manz stated "We are very pleased to have Robert join us, and to be able to add another member with proven company building skills to our board. Freegold is poised for another exciting year of growth, and we look forward to having Robert, with his broad experience and contact base within the mining sector, and his successful track record in deal execution, help guide us forward."
The foregoing appointment is subject to regulatory approval.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold has also discovered many new high-grade veins and bulk tonnage shear zones in its 40,100-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed, and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in Pogo-style, near surface quartz veins. The Qualified person for this release is Michael P. Gross, M.S. , P.Geo, VP Exploration. Freegold Ventures Limited.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Extends Southern Almaden Gold/Moly Mineralization
Wednesday January 30, 7:00 am ET
VANCOUVER, Jan. 30 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to provide an update on its Almaden project in south western Idaho, as well as report additional assays from the Company's Phase 2 drill program. Thick intervals of gold mineralization assaying higher than the average resource grade of the deposit were intersected in three holes at the southern end of the Main Zone, along with molybdenum mineralization over thicknesses up to 125 feet from surface. While the molybdenum mineralization in the North zone and in the northern part of the Main zone is seen as continuous from surface to depths exceeding 200 feet, drilling in the south is continuing to identify smaller zones of structurally controlled molybdenum mineralization in quantities expected to be significant to the overall evaluation of the project.
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A total of 54,719 feet has now been drilled in 131 core and RC holes since the Company commenced its resource expansion drill program in the summer of 2006. Phase 1 drilling consisted of 104 holes (41 core holes (17,774 feet) and 63 RC holes (23,040 feet)), aimed at further delineating and expanding the known gold mineralization prior to the updating of the resource and the previous 1997 feasibility study. A synopsis of the numerous depth and lateral extensions identified in this program can be found in the recently posted President's Message on our web-site. The Phase 2 drilling program commenced in September 2007 with one RC rig drilling though mid-November. Phase 2 consisted of 27 holes (13,905 feet) aimed at identifying both the strike extensions of the gold mineralization, as well as further delineating the consistent molybdenum mineralization identified in the North Zone and the northern portions on the Main Zone during the Phase 1 drilling.
The results of the three new Phase 2 holes indicate the potential for the expansion of the gold and molybdenum mineralization in the southern portion of the deposit. Holes 718 to 720 were all drilled to the east at angles of -50 degrees (718) and -60 degrees (holes 719 and 720), with all three holes encountering good gold mineralization in the hanging wall of the main feeder structure. Holes 718 and 719 were drilled at the extreme southern end of the deposit, while 720 was drilled within the southern zone in order to intersect the main feeder zone at depth. Mineralization continues to remains open to the south. Significant gold assay results from these holes include:
-------------------------------------------------------------------------
Gold Gold
Hole From To Thickness Grade Grade
Number (foot) (foot) (feet) (oz/ton) (g/tonne)
-------------------------------------------------------------------------
718 10 150 145 0.024 0.83
-------------------------------------------------------------------------
Including 130 155 25 0.066 2.28
-------------------------------------------------------------------------
719 10 235 225 0.032 1.09
-------------------------------------------------------------------------
Including 20 145 125 0.047 1.62
-------------------------------------------------------------------------
720 55 410 355 0.021 0.70
-------------------------------------------------------------------------
Including 45 295 250 0.025 0.86
-------------------------------------------------------------------------
Including 105 220 115 0.035 1.19
-------------------------------------------------------------------------
In addition to the gold mineralization, these holes also confirm the presence of molybdenum over the known one-mile strike length of the deposit, from the continuous areas of molybdenum mineralization in the north to the more discontinuous, structurally controlled mineralization in the south. Significant molybdenum assay results from these holes include:
-------------------------------------------------------------------------
Hole From To Thickness MoS(2)
Number (foot) (foot) (feet) (%)
-------------------------------------------------------------------------
718 10 135 125 0.026
-------------------------------------------------------------------------
including 10 80 70 0.042
-------------------------------------------------------------------------
719 210 235 25 0.041
-------------------------------------------------------------------------
720 240 285 45 0.017
-------------------------------------------------------------------------
720 465 500 35 0.021
-------------------------------------------------------------------------
While delays in the receipt of assays and in the compilation of the final database have resulted in a delay in the updated resource calculation by Mine Development Associates of Reno, these delays are fortunately allowing us to incorporate these latest Phase 2 expansion holes (including the North zone in-fill holes reported on December 18, 2007) into the data base that will serve as the basis for our next resource calculation.
Analysis of the drilling, mapping and sampling data collected by the Company over the past 2 years also continues to reinforce the concept that a deeper, higher-grade bonanza feeder vein system may lie beneath the lower grade, bulk mineable surface mineralization. Now that Freegold has identified what it believes to be the principal feeder zones in the upper parts of the deposit through systematic drilling, the Company is enagaging consultants with experience in the discovery of bonanza-grade deposits to refine its on-going exploration plans on these deeper targets.
The first consultant to visit the Almaden property was Eric Braun, PhD., an expert in epithermal gold deposits that has worked for numerous mining companies throughout the world, including Barrick Gold in Peru, and who is credited with the discovery of the high-grade Golden Promise Vein at the Knob Hill Mine in Washington. Mr. Braun's report states that "the geological environment at Almaden is appropriate for a deep bonanza feeder" and that "one can infer a structural control oriented N-NW, which may reflect a structural feeder." Mr. Braun provided Freegold with two prioritized drill locations in which to drill a fan of holes to test the deep feeder concept. Mr. Braun's assessment also included a review of the bulk tonnage mineralization, stating "My favourite zone to add significant new resource is to extend the deposit along trend to the south of the South zone. This area has received only minor drill testing, yet the few holes in the zone are encouraging. This area should be mapped, sampled and drilled along the E-W sections like the area further north. The target has about 1,500 feet of strike length and is open further south." Freegold's second epithermal consultant, Stuart Simmons, PhD., from the University of Auckland, will be arriving on the property in late March.
RC samples reported in this release are generally analysed on five-foot intervals. All samples are shipped to ALS Chemex at its Winnemucca, NV laboratory for preparation. Pulps are shipped to ALS Chemex Laboratories in Vancouver, B.C. for analysis. Gold values are determined using fire assay techniques with AA finish and multi element analysis using ICP-AES with aqua regia digestion.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold has also discovered many new high-grade veins and bulk tonnage shear zones in its 40,100-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed, and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in Pogo-style, near surface quartz veins.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz,
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Adds Strategic Land Holding to Golden Summit Project
Monday January 28, 2:36 pm ET
VANCOUVER, Jan. 28 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce that it has completed the purchase of a strategic parcel of land adjoining its Golden Summit property outside Fairbanks, Alaska. The acquisition of this land, comprising 301.5 acres of private ground plus three additional State claims, is key to any long term development at Golden Summit.
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Given the hilly topography of much of the Golden Summit property, this flat-lying tract of land was previously selected as the ideal spot in which to locate our existing bulk sample processing plant. The lease that had been in place to cover the portion of these private lands where the plant and tailings facilities are located has been terminated, and production royalties that had been associated with the previous lease agreement have been waived as part of the larger land acquisition.
These 312 acres are directly adjacent to the Steese Highway and power lines, and represents the only practical access to the gold mineralization currently identified in the Cleary Hill and Tolovana areas. In addition to the broad extent of flat lying ground, this parcel is ideally situated with respect to its abundance of processing water (being at the confluence of a number of streams) and on-site gravel. The large stockpiles of sand and gravel on the property will be a valuable asset in any future project expansions, and the Company will continue to investigate the sale of these gravels for local use as has been undertaken in the past.
Proposed Reform of the 1872 Mining Law
Many shareholders have been questioning what impact recently proposed legislation changes to the 1872 Mining Law may have on the Company. In November of last year, the U.S. House of Representatives passed the Hardrock Mining and Reclamation Act of 2007, which would update mining laws that have been in place since 1872 and add new royalties on minerals on Federal public lands. The U.S. Senate has also begun to hold its own hearings on the proposed legislative changes. While we believe that some form of new royalty structure will likely be implemented, we are pleased to report that the majority of our current land holdings will not be affected by any such legislative changes.
At our Almaden project in Idaho, approximately 90% of the gold resources previously reported on the property are situated on private ground that is currently held under long term lease. The remaining 10% of the currently identified resources are located on BLM administered Federal ground that would be subject to any mining law amendments. Our Rob and Vinasale projects, consist of State of Alaska and Doyon Native Corporation lands, and are also not subject to any new Federal royalties. At Golden Summit, our property position is comprised of both patented and Federal claims. Of the 5,000 foot long zone of mineralization currently identified in the Cleary Hill and Tolovana areas, approximately 50% of this zone is located on private ground held under long term lease, while the remaining 50% is located on BLM administered Federal ground. Almost all of the gold targets and historical underground gold mines in an area 2 miles to the east that will be the focus of our next regional step-out exploration drilling later in the year are also located on private ground.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has finalized a 54,700-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold has also discovered many new high-grade veins and bulk tonnage shear zones in its 40,100-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed, and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in Pogo-style, near surface quartz veins.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Freegold Ventures Ltd. (T.ITF) $ 2.03 - 0.03 (+1.50%)
Volume: 20.46 k
11:12 AM EST Jan 14, 2008
http://investorshub.advfn.com/boards/quotes.asp?ticker=t.itf
http://investorshub.advfn.com/boards/board.asp?board_id=6526
Press Release Source: Freegold Ventures Limited
Freegold Intersects New Gold Zone and Delineates Additional Moly at Almaden
Tuesday December 18, 3:05 am ET
VANCOUVER, Dec. 18 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to report assay results from an additional 16 holes drilled at its 100% controlled Almaden gold project in southwestern Idaho. With the completion of drilling for the new 43-101 resource calculation, the Company has been focusing its latest drilling on identifying strike extensions to its gold mineralization, and further delineating the consistent molybdenum mineralization identified in the North Zone as well as in the northern portions on the Main Zone. These latest drill results provide encouragement that the Almaden project has the potential to continue to grow in size, and that molybdenum may play a significant role in enhancing the returns of the project.
Freegold's first significant step-out drilling was conducted in the Stinking Water basin area, located 1,700 feet east of the North Zone. This area was previously identified as prospective by a prior operator through scattered, widely-spaced drilling, which returned some of the highest-grade gold assays within the deposit area. Previous drilling in this basin was done on spacings of up to 500 feet, was never followed up with in-fill drilling, and was never factored in to any previous resource calculations. Freegold's first hole (SW C44) into the basin was a core hole drilled to a depth of 197 feet. Significant assays from this hole include:
-------------------------------------------------------------------------
Hole From To Thickness Gold Grade Gold Grade
Number (foot) (foot) (feet) (oz/ton) (g/tonne)
-------------------------------------------------------------------------
SW C44 30 197 167 0.026 0.88
-------------------------------------------------------------------------
including 85 160 75 0.039 1.34
-------------------------------------------------------------------------
Mineralization in this hole remains open at depth, with the last interval at the bottom of the hole grading 0.025 oz/ton (0.88 g/t). While none of the previous operators assayed for any elements other than gold and silver, it is encouraging to note the surface molybdenum values in this 1,700 foot step-out hole from the North Zone. One interval graded 0.023% MoS(2) over a 119 foot interval (from 35 to 154 feet), including a higher-grade section which graded 0.046% MoS(2) over a 50 foot interval (from 35 to 85 feet).
Five additional shallow RC holes step-out holes (SW 45 to SW 48, and SW 50) were also drilled. As the water table in this basin occurs 20 feet below surface, high water inflows into these holes through the porous surrounding rock made sample collection difficult as cuttings were washed out of the sample collection containers before they could settle. The porous rocks also caused compressed air to be diverted away from the collection zone at the bit face, washing cuttings into the surrounding rocks and causing surface mud boils around the drill. As a result of these quality control issues, the results from the five holes cannot be relied upon, and further testing of the extents of gold mineralization in this area must await the return of a core rig in the future.
Following the completion of the Phase 1 resource expansion drilling program, the RC drill rig was returned to the North Zone to determine whether the molybdenum grades picked up through scattered in-fill drilling as part of the new resource calculation, would remain consistent with closer drill spacing. Molybdenum grades previously reported from Phase 1 drilling included:
North Zone Molybdenum Assays Reported July 9, 2007
-------------------------------------------------------------------------
Hole From To Thickness Mo Grade
Number (foot) (foot) (feet) (% MoS(2))
-------------------------------------------------------------------------
655 10 200 190 0.049%
-------------------------------------------------------------------------
Including 15 30 15 0.100%
-------------------------------------------------------------------------
670 5 200 195 0.046%
-------------------------------------------------------------------------
Including 30 150 120 0.070%
-------------------------------------------------------------------------
681 10 165 155 0.064%
-------------------------------------------------------------------------
685 5 185 180 0.060%
-------------------------------------------------------------------------
Including 30 55 25 0.176%
-------------------------------------------------------------------------
690 5 150 145 0.030%
-------------------------------------------------------------------------
701 30 185 155 0.031%
-------------------------------------------------------------------------
702 5 205 200 0.038%
-------------------------------------------------------------------------
703 25 195 170 0.039%
-------------------------------------------------------------------------
C42 30 120 90 0.065%
-------------------------------------------------------------------------
Including 45 70 25 0.137%
-------------------------------------------------------------------------
C70 95 155 60 0.050%
-------------------------------------------------------------------------
C77 0 205 205 0.031%
-------------------------------------------------------------------------
A total of 10 new RC holes (690, 723 to 731) were drilled as part of the Phase 2 drilling, bringing the average drill spacing for holes with molybdenum assays to approximately 200 feet. The gold mineralization intersected in these new holes in the lower grading North Zone (containing 13% of the total tonnage in the 2006 43-101 resource calculation) were generally consistent with previous results, and should allow a greater portion of this mineralization to be upgraded to higher resource categories due to the further reduction of drill spacing. Significant gold assay results from these holes include:
-------------------------------------------------------------------------
Hole From To Thickness Gold Grade Gold Grade
Number (foot) (foot) (feet) (oz/ton) (g/tonne)
-------------------------------------------------------------------------
690 5 155 150 0.008 0.26
-------------------------------------------------------------------------
723 5 180 175 0.022 0.74
-------------------------------------------------------------------------
Including 5 130 125 0.026 0.91
-------------------------------------------------------------------------
724 5 170 165 0.020 0.68
-------------------------------------------------------------------------
Including 10 95 85 0.030 1.01
-------------------------------------------------------------------------
726 10 80 70 0.018 0.60
-------------------------------------------------------------------------
727 5 175 170 0.015 0.50
-------------------------------------------------------------------------
Including 5 75 70 0.023 0.80
-------------------------------------------------------------------------
728 5 145 140 0.018 0.61
-------------------------------------------------------------------------
Including 30 120 90 0.022 0.75
-------------------------------------------------------------------------
729 15 120 105 0.021 0.71
-------------------------------------------------------------------------
730 5 110 105 0.020 0.70
-------------------------------------------------------------------------
731 10 185 175 0.019 0.64
-------------------------------------------------------------------------
The new in-fill drilling also confirms the consistency of the molybdenum values with significant grades starting at surface and occurring over thicknesses ranging from 100 to 300 feet. Significant molybdenum assays from these 10 RC holes include:
-------------------------------------------------------------------------
Hole From To Thickness MoS(2)
Number (foot) (foot) (feet) (%)
-------------------------------------------------------------------------
690 5 155 150 0.030
-------------------------------------------------------------------------
723 5 120 115 0.051
-------------------------------------------------------------------------
including 5 80 75 0.071
-------------------------------------------------------------------------
724 5 210 205 0.029
-------------------------------------------------------------------------
including 10 100 90 0.043
-------------------------------------------------------------------------
725 5 125 120 0.031
-------------------------------------------------------------------------
including 25 65 40 0.051
-------------------------------------------------------------------------
726 10 300 290 0.032
-------------------------------------------------------------------------
including 10 80 70 0.052
-------------------------------------------------------------------------
including 145 175 30 0.069
-------------------------------------------------------------------------
727 5 185 180 0.034
-------------------------------------------------------------------------
including 5 40 35 0.062
-------------------------------------------------------------------------
728 5 300 295 0.026
-------------------------------------------------------------------------
including 5 80 75 0.052
-------------------------------------------------------------------------
729 5 120 115 0.034
-------------------------------------------------------------------------
730 5 150 145 0.025
-------------------------------------------------------------------------
731 10 185 175 0.050
-------------------------------------------------------------------------
including 130 170 40 0.071
-------------------------------------------------------------------------
Freegold's recent drilling has also targeted the syncline area between the Main and North Zones, where drilling by previous operators was limited to 100 feet in depth. Freegold's drilling was aimed at determining if sufficient deeper mineralization existed within the syncline area to allow the two zones to be joined in a future pit design. While the five RC holes (700, 713-716, and 722) did not encounter significant intervals of resource grade gold mineralization, the molybdenum envelope is seen extending into the syncline. Holes 700 and 722 both intersected molybdenum grading 0.031% MoS(2) over intervals of 70 feet (from 120 to 190 feet) and 175 feet (from 5 to 180 feet) respectively. Hole 713, located within the center part of the syncline, 300 feet to the south of the North Zone also returned 60 feet (from 30 to 90 feet) grading 0.027% MoS(2).
Molybdenum mineralization in the North Zone has now been tested with 21 holes that cover an area roughly 1,300 feet long by 500 feet long. The arithmetic average of the molybdenum intercepts reported to date from these holes is 0.038% MoS(2) over an average thickness of 170 feet. While the Company is still evaluating the significance of these molybdenum occurrences in relation to the genesis and configuration of the gold mineralization, the molybdenum may be an important element in the future development of the project. As part of its on-going reviews of the project, Freegold is commencing new metallurgical test-work at McClelland laboratories in Reno, NV aimed at evaluating a variety of processing methods that may be used to capture this potentially valuable mineral by-product.
Freegold is also pleased to report that work is also proceeding on its new 43-101 gold resource calculation. All of the assays from the Phase 1 drilling have now been received and entered into the data-base, and the last of the geological cross-sections in support of the geological model are being digitized and will be incorporated into the block modelling that will be initiated shortly.
Diamond drill core and RC samples are generally analysed on five-foot intervals. All samples are shipped to ALS Chemex at its Winnemucca, NV laboratory for preparation. Pulps are shipped to ALS Chemex Laboratories in Vancouver, B.C. for analysis. Gold values are determined using fire assay techniques with AA finish and multi element analysis using ICP-AES with aqua regia digestion.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold has finalized a 41,000-foot drilling program aimed at further expanding the size of the resource and is in the process of generating a new 43-101 resource prior to undertaking new economic evaluations in 2008. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold has also discovered many new high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed, and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in Pogo-style, near surface quartz veins.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Freegold Golden Summit Drilling Widens Gold Zone to the West
Wednesday November 21, 7:30 am ET
VANCOUVER, Nov. 21 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results from drill Fence 19 which is the final fence of RAB drill holes to be reported in the 40,093 foot Phase 1 Drill Program at the Company's Golden Summit project outside Fairbanks, Alaska. Drilling has been systematically testing the known 5,000 foot strike length of gold mineralization in the Cleary Hill Mine area.
Similarly to previously released holes, these 45 holes (holes 630 to 674) are continuing to encounter numerous mineralized structures and shears in the hanging wall of the Cleary Hill structural zone in shallow, close spaced drilling. Located between 1,000 to 1,500 feet west of Fence 5, Fence 19 follows an old road up the nose of the ridge on the west side of Bedrock Creek. The holes were spaced 10 to 40 feet apart and drilled to an average depth of 72 feet. While the holes in areas exhibiting limited surface mineralization were drilled with wider spacing, the drill holes were always spaced to ensure at least one intercept on a 60 to 65 degree dipping vein. Holes 630 to 651, located towards the bottom of the ridge, intersected structures and veins that were too widely spaced to be considered part of a vein swarm. As the drilling progressed up the ridge, it began to intersect the wider Cleary Hill vein swarm traced extensively on the eastern side of Bedrock Creek, with one 435 foot length of holes (actual length 370 feet after removing a bend in the road) averaging 0.53 g/t (0.016 opt).
[CONTINUED IN FOLLOWING LINK-
http://biz.yahoo.com/prnews/071121/to275.html?.v=58
Gold Gets Hammered as Traders Unwind Yen Carry Trade
By Jon A. Nones
12 Nov 2007 at 01:54 PM GMT-05:00
http://www.resourceinvestor.com/pebble.asp?relid=37742
St. LOUIS (ResourceInvestor.com) -- Spot gold was last quoted at $804.10 bid, down 3% as compared with the Friday New York close of $832.30. After gaining more than $30 last week alone, $200 since August lows, traders decided to lock in profits today as the U.S. dollar rebounded and currency traders unwound their risky yen carry trades.
On Monday morning, currency traders unwound their risky carry trades, resulting in a surge of the yen versus the dollar. The dollar fell as low as 110.22 yen from 110.61 yen on Sunday, an 18-month low. The Nikkei lost nearly 400 points to 15,197.09 overnight.
In carry trades, investors sell currencies of countries with lower borrowing costs and buy assets with higher interest rates or the prospect of greater yields. Japan has the lowest borrowing costs among industrialized nations at 0.5%.
Dennis Gartman, editor of the Gartman Letter, noted in Monday’s Letter that the yen and the U.S. dollar are “violently stronger” as the unwinding of the yen carry trade and the bearish positions relative to the USD “seem suddenly to be unwound.”
“We have argued here in recent sessions that we've cannot recall having seen any market anywhere at anytime as heavily skewed one side relative to the other as we have seen regarding dollar bearishness,” he said.
Against other currencies, the dollar rose about 0.7% against the euro and 1% against the British pound. The dollar index, which tracks its performance against a basket of major currencies, rose 0.6% at 75.885.
“Our metaphor has been that the dollar's ‘boat’ has been populated to the bearish side so heavily that it was ‘listing’ more than merely awkwardly, and that it was due to capsize. It has ... today... materially,” Gartman added.
Gartman said two things have now changed in the gold market since Friday: The dollar's material strength this morning and the rumours of an OPEC increase in production. Crude prices fell nearly 2% in New York today after rumours emerged that OPEC would discuss the possibility of raising oil production at an upcoming meeting to cool the market.
“A high has been marked, and it may be some while before we add to our long positions in gold,” said Gartman, adding that “$810 may tempt us, but for now, $725 seems like a strangely possible target on the downside, putting the fear of God in everyone!”
Mining and metals shares also dropped on Monday. The Philadelphia Gold and Silver Index [XAU] tumbled 4.7% to 178 points, the CBOE Gold Index [GOX] fell 4.1% to 181.46 points and the Amex Gold Bugs Index [HUI] declined 4.7% to 421.15 points.
Exchange-traded funds such as the StreetTracks Gold Trust ETF [NYSE:GLD] fell 2.9% to $79.78 and the Market Vectors-Gold Miners ETF [AMEX:GDX] fell 4% to $48.30.
Ross Norman, director of TheBullionDesk.com, also gave two factors that have triggered the price collapse: The U.S. dollar relief rally plus the Commitment of Traders (CFTC) report on Friday.
The CFTC report showed that a record long position had been built up in U.S. gold futures, noting that 24 million ounces were held on COMEX in New York plus a further 0.517 million ounces on the CBOT in Chicago.
“With the market heading towards year-end and heavy mark-to-market profits on the books of many trading houses, the temptation to book that profit has clearly overwhelmed them,” said Norman. “Gold was overdue a correction and the failure to breach the record high, coupled with a weaker oil price and higher dollar was taken as a signal to take profit.”
He added that today’s move is thought to have been exacerbated by sell stops being triggered as technical levels failed, which provided further momentum to the downside.
“What remains unclear is whether this is year-end profit taking with dealers looking to be the first to run for cover or a bear trap before a final assault of the all-time high of $850 - before trading in the markets quiets in early December for festive season,” said Norman.
Jon Nadler, senior analyst for Kitco Bullion Dealers, said in an e-mailed note today that the sell-off in markets overseas revealed the beginning of a larger downturn in gold and oil.
“Whether or not the selling could snowball into a more significant but certainly overdue correction remains to be seen, but the speculative abandon with which participants threw money at various markets over the past two months appears to now be skating on thin ice as global conditions have engendered a rise in risk aversion once again,” he said.
However, he told readers to expect some resistance from the bulls against attempts to take values much lower and probably some bargain hunting buying from India.
“For the moment, the level at which conditions might be seen as turning sour is still thought to be found near the $780 range,” said Nadler.
Norman said the “psychologically important $800” level is expected to find good buyers as late-comers look for an entry point. He said that the gold market remains fundamentally bullish and this correction “should be regarded as a healthy development in the medium term.”
“Gold had risen by 14% since early October to recent highs with very little price correction let alone consolidation on the way up,” he concluded.
In New York, gold futures fell $30.30 to $804.40 an ounce, while crude-oil futures declined $1.87 to $94.45 a barrel.
Press Release Source: Freegold Ventures Limited
Freegold Appoints Manz and Knight as Directors, Medd as Chairman
Monday November 5, 12:34 pm ET
VANCOUVER, Nov. 5 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce the appointment of Mr. Steve Manz and Mr. David Knight to the Freegold Board of Directors following the resignation of Mr. Harry Barr as Chairman and director, and the recent passing away of board member Mr. Bernard Barlin. Freegold also announces the appointment of Morris Medd, a current director of the company, as its new Chairman.
ADVERTISEMENT
Steve Manz has been the President and CEO of Freegold over the past two years and has been instrumental in assembling a senior exploration and mine development team with an excellent track record in taking companies to production, in the refinancing of the Company, and in helping guide the Company through its recent period of rapid growth.
David Knight is a partner with the law firm of Macleod Dixon LLP, who brings with him over 25 years experience in securities and mining law. David's expertise is in the areas of public and private financing, mergers and acquisitions, corporate governance and regulatory compliance, and he represents both issuers and investment dealers on a regular basis. David's representation of numerous clients on property acquisitions and development, and his experience in closing large mining transactions will be of great assistance in helping Freegold continue to grow through in-house project developments and on-going acquisitions. David has been recognized as a recommended lawyer in the area of mining law by the LEXPERT Legal Directory, and has been designated as a "Best Lawyer in Canada" for 2007 in the area of Natural Resources Law.
Morris Medd has been a director of Freegold since September 2006 and brings over 40 years of hands on experience in company building and mine development and contracting to his new position as Freegold Chairman. Morris started his career with the Redpath Group, a world leader in shaft sinking, underground mine development and contract mining, as a miner. Over his 30 years with the company he gained a broad range of expertise through his escalating positions as project manager, group contract manager, Senior Vice President of Operations, and finally as President of the worldwide Redpath Group of Companies, a position he held for five years. Mr. Medd is also a former Director of the Ontario Mining Association, and is credited with the establishment of a number of new and innovative mine development techniques.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is also continuing to discover new high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale property in Alaska, where geophysical and surface sampling programs have recently been completed, and on the Rob property in Alaska, where recent drilling has intersected high-grade gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in Pogo-style, near surface quartz veins.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
New all-time highs here today.
This has been tremendously strong lately and huge volume yesterday too.
Something going on behind the scenes?
Freegold Drilling Intersects 28.5 g/t Over 9 feet On Golden Summit Tolovana Vein
Monday October 29, 8:30 am ET
http://www.freegoldventures.com
VANCOUVER, Oct. 29 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results from 54 holes drilled at the Company's Golden Summit project outside Fairbanks, Alaska. Located on the western end of the known gold mineralization in the Cleary Hill mine area, drilling has extended the strike length of the high-grade Tolovana Vein to over 825 feet. The Tolovana vein and its accompanying hanging and footwall gold mineralization remain open in all directions, with the vein striking towards the central part of the much wider Cleary Hill vein swarm on the eastern side of Bedrock Creek. Further RAB drilling will be undertaken in early January to extend the short drill fences in the Tolovana area further to the north and south to determine whether the Tolovana vein is also part of a larger swarm of veins and shear zones that have to date been hidden under the permafrost overburden.
The 54 holes in fences 15 to 18 are part of the 672-hole (40,093 foot) exploratory drill program that has been systematically testing the swarm of veins and shear zones along the known 5,000 foot strike of gold mineralization in the Cleary Hill mine area. Similar to previously released holes, these shallow, closed spaced holes are continuing to encounter high-grade structures near surface within much broader zones of lower grade, bulk tonnage mineralization. As seen in the accompanying map (available on the Company's website), fences 15 to 18 are testing the north-east striking Tolovana vein with vertical holes averaging 72 feet in depth, spaced roughly 20 feet apart, that are oriented in a north-north west direction.
The Tolovana vein and its associated hanging and footwall mineralization was originally intersected in Fence 6, which returned intersections of 23.0 g/t (0.67 oz/ton), 17.8 g/t (0.52 oz/ton) and 18.1 g/t (0.53 oz/ton) all over 3-foot widths within wider zones of lower-grade mineralization (see June 11, 2007 release). Fences 7 and 8 traced the vein a further 350 feet to the east with intersections comparable to those seen in Fence 6 (see Oct. 4, 2007 release). Fences 15 (24 holes) 16 (9 holes) 17 (9 holes) and 18 (12 holes) traced the Tolovana vein another 525 feet to the east for a total confirmed strike length of 825 feet. Significant intervals from these fences include:
[continued in following link]
http://biz.yahoo.com/prnews/071029/to256.html?.v=62
Press Release Source: Freegold Ventures Limited
Media Advisory: BTV-Business Television features Freegold Ventures
Thursday October 18, 1:16 pm ET
VANCOUVER, Oct. 18 /PRNewswire-FirstCall/ - Freegold Ventures advises media of a BTV Business Television feature on Freegold Ventures Limited.
Click on the hyperlink below to view the feature online
http://www.b-tv.com/i/videos/Freegold.wmv
Freegold Ventures is a Canadian gold exploration and development company which has assembled a senior, production-oriented management team over the past two years. Freegold's team has an excellent track record, having taken 5 companies to production in the past, and having created over $1 billion of new market capitalization in the process. With this experience, an excellent portfolio of North American projects, new supportive shareholders including Sprott Asset Management and Rob McEwen, and a sound capital/financial structure, Freegold is well along its own path to sustained gold production. Freegold's current assets include three advanced stage gold projects: the Almaden Project in Idaho, and the Golden Summit and Vinasale projects in Alaska. In addition Freegold is actively exploring the Rob Project, which is an early stage exploration project.
Symbol: TSX: ITF OTCBB: FGOVF FRANKFURT: FR4
www.freegoldventures.com
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On National Television: Oct. 20 and Oct. 21, 2007
BTV BROADCAST TIMES:
CANADA: - Ontario: SUNTV -- Sun. Oct. 21 at 9:00am EST,
BC/Washington: KVOS TV - Sun. Oct. 21 at 4:30pm PST
Bell Express VU and Star Choice -- West SUNTV Sun. Oct. 21 at
6:00am PST
U.S. national: - America One -- Sat. Oct. 20 at 10:30 am EST
www.americaone.com
BTV, a half-hour weekly business program, profiles emerging publicly
trading companies across Canada and the USA. With Host Taylor Thoen, BTV
features companies at their location, interviews the company's key
executives, features their products and services, and unveils their plans
for future growth.
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Not to be construed as an offer to buy or sell securities of Freegold
Ventures Limited
CONTACT: Freegold Ventures Limited, Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com, 1750 - 700 West Georgia Street, Vancouver, BC, V7Y 1B6
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Drilling Hits High-Grade Gold at Rob - 29 g/t Over 4 m
Thursday October 11, 8:27 am ET
------------------------------------------------------------------------- - Grey Lead prospect drill results include 13.5 foot interval averaging 20.1 g/t and 13 feet averaging 29.0 g/t
- Gold mineralization remains open to depth and along strike
- 2008 exploration program to include drilling on multiple targets -------------------------------------------------------------------------
www.freegoldventures.com
VANCOUVER, Oct. 11 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results of a 17 hole diamond drill program conducted this summer on its Rob property in Interior Alaska. A total of 3,514 feet were drilled in the Grey Lead and O'Reely vein prospects following the receipt of significant gold assays from a limited surface sampling program (see August 30, 2007 news release for results). Although drilling within the O'Reely vein did not intersect the multi-ounce values sampled at surface, holes within the Grey Lead vein consistently intersected thick intervals of high-grade gold mineralization that exhibit geological and geochemical characteristics very similar to those seen at the 5.6 million ounce Pogo gold mine.
High grade gold mineralization was previously identified in the Grey Lead vein in the late 1990's with one hole intersecting 31.5 g/t over 13.5 feet (note: this historical intercept is non-43-101 compliant and should not be relied upon). Freegold's drilling was designed to confirm the interval intersected in historical drilling and to determine the strike and dip of the Grey Lead vein using multiple dip angles from separate drill platforms.
A total of 8 holes (numbers 6, 7, and 12-17, totaling 1,529 feet) were drilled at the Grey Lead vein from two separate drill pads located approximately 170 feet apart. All of the holes intersected a sugary textured quartz vein, containing fine-grained bismuthinite and arsenopyrite, within a biotite augen paragneiss host rock. The true width of the vein is variable but averages in excess of 10 feet. Holes 6 and 7 were drilled to the east at dips of 61 and 76 degrees respectively, and were designed to intersect the vein where it was previously identified in the 1999 drilling. Hole 6 intersected the vein at a depth of 154 feet and returned a 16.5 foot interval averaging 6.7 g/t, including a 2.5 foot section grading 23.1 g/t. Gold mineralization further down the hole at a depth of 221 feet, returned a 13 foot interval grading 0.7 g/t in Hole 7.
Holes 12 through 17 were drilled as step-out holes from a second pad located a further 170 feet to the northeast. The location of the second pad further to the east as well as to the north was to ensure that the shallower dipping holes would intersect the vein closer to surface. Holes 12, 13, 14 and 15 were drilled to the east at angles of 45, 60, 71 and 90 degrees respectively to intersect the vein. Hole 17 was drilled in the opposite direction at a dip of 75 degrees, and was designed to intersect the vein further at depth after it crossed west of the drill pad. Hole 16 was drilled at a similar angle and dip as hole 12, and was designed to extend a hole further to the east to try and hit a fault structure that had been mapped at surface.
Holes 12 and 16, which traveled through the vein at roughly the same location, were also used to test the variability of the vein via twinning. The intercepts in these two holes compared very well, with hole 12 returning 14.5 feet with an average grade of 9.0 g/t while hole 16 returned 14 feet averaging 7.9 g/t. Holes 13 and 14 intersected substantially higher grade material, returning 13.5 feet averaging 20.1 g/t and 13 feet averaging 29.0 g/t respectively. Higher grade intervals included 1.5 feet @ 32.3 g/t, 1 foot @ 135.7 g/t and 2.5 feet @ 23.73 g/t in hole 13 and 3.6 feet @ 89.0 g/t in hole 14. Holes 15 and 17, which tested the vein at depths of 93 and 179 feet, intersected 13 feet averaging 3.5 g/t and 6.5 feet averaging 23.2 g/t respectively.
Significant assays from the Grey Lead holes include the following:
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Hole From To Thickness Gold Grade Gold Grade
Number Azimuth Dip (foot) (foot) (feet) (g/tonne) (oz/ton)
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6 102 -61 154.5 171 16.5 6.76 0.197
-------------------------------------------------------------------------
Including 154.5 157 2.5 23.09 0.673
-------------------------------------------------------------------------
Including 157 161 4.0 8.22 0.240
-------------------------------------------------------------------------
Including 167 171 4.0 5.11 0.149
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6 234.5 238.5 4.0 1.03 0.030
-------------------------------------------------------------------------
7 108 -76 221 234 13.0 0.70 0.020
-------------------------------------------------------------------------
12 93 -46 43.5 58 14.5 8.99 0.262
-------------------------------------------------------------------------
Including 45 53 8.0 15.17 0.442
-------------------------------------------------------------------------
Including 49.6 52 2.4 23.42 0.683
-------------------------------------------------------------------------
13 95 -60 52 65.5 13.5 20.11 0.586
-------------------------------------------------------------------------
Including 52 53.5 1.5 32.30 0.942
-------------------------------------------------------------------------
Including 53.5 54.5 1.0 135.74 3.959
-------------------------------------------------------------------------
Including 54.5 57 2.5 23.73 0.692
-------------------------------------------------------------------------
Including 57 65.5 8.5 3.29 0.096
-------------------------------------------------------------------------
14 100 -71 60 73 13.0 28.84 0.841
-------------------------------------------------------------------------
Including 60 63.6 3.6 88.98 2.595
-------------------------------------------------------------------------
Including 63.6 72 8.4 3.67 0.107
-------------------------------------------------------------------------
Including 72 73 1.0 23.79 0.694
-------------------------------------------------------------------------
14 73 76.5 3.5 1.58 0.046
-------------------------------------------------------------------------
15 -90 78 106 28.0 1.88 0.055
-------------------------------------------------------------------------
Including 93 106 13.0 3.52 0.103
-------------------------------------------------------------------------
16 95 -45 43 57 14.0 7.89 0.230
-------------------------------------------------------------------------
Including 45 51 6.0 9.21 0.269
-------------------------------------------------------------------------
Including 53.5 57 3.5 13.78 0.402
-------------------------------------------------------------------------
17 251 -76 179 185.5 6.5 23.23 0.677
-------------------------------------------------------------------------
Including 182 183 1.0 49.44 1.442
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A total of 9 holes (numbers 1 - 5, and 9 - 11, totaling 1,985 feet) were also drilled at the O'Reely vein, located approximately 6,000 feet east of the Grey Lead vein. These holes, which dipped eastward at angles from 45 to 75 degrees, were designed to test the west dipping vein from five separate drill pads located approximately 100 to 150 feet apart. Although all 9 of the holes intersected the quartz vein over intercept widths of 5 to 20 feet, only anomalous gold values were returned. Of the 128 assay intervals, 31 widely scattered assays were returned grading higher than 0.2 g/t, with the highest interval being 2.1 g/t over 3 feet in hole 5 at a depth of 126 feet. One longer interval of anomalous gold assayed 0.94 g/t over a 17 foot interval in hole 3 at a depth of 106 feet. Throughout the drilling, the vein was seen to exhibit a consistent west dip with little indication of structural offset along the drilled strike length.
Gold mineralization at Grey Lead is associated with a distinctive geochemical trace elements suite (gold, bismuth, arsenic) similar to the gold currently being mined 20 miles to the west at the 350,000 to 450,000 oz/year Pogo mine. Gold at Pogo is found within stacked, flat-lying quartz veins (averaging approximately 17 g/t) that are hosted within the same gneissic dome that has been mapped at Rob. In the O'Reely vein gold mineralization is associated with highly anomalous arsenic (to 6,386 ppm) and antimony (to 1,132 ppm) values. Sporadic silver anomalies (+15 ppm) do occur in the core but are not strongly correlated with elevated gold values.
Exploration for 2008 will focus on strike extensions of the Grey Lead vein and on other prospective targets both to the north and further to the west of Grey Lead. Vein mineralization at Grey Lead is controlled by a moderate to steeply west dipping, north-northeast striking structure which extends across the property and which lies within the regional scale Black Mt. tectonic zone. The high-grade, intrusive-hosted Michigan prospect (see August 30, 2007 release for surface sample results) has never been drill tested and is also centered on this structure approximately 2 miles to the northeast of Grey Lead. Future exploration will also focus on low level (less than 100 ppb) gold in soil anomalies that are also present at several locations west of the Grey Lead surface exposures, as well as at the Johnson Saddle prospect, located on strike 4,000 feet northeast of the Grey Lead prospect.
Assay results cited herein were based on drill core collected by Avalon Development Corporation, consultants to Freegold, under the supervision of Curt Freeman, MS., PGeo, Qualified Person as defined by NI 43-101. Alaska Assay Laboratories in Fairbanks, Alaska was used to analyze the samples via fire assay analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion. Given the high-grade results returned from many of the fire assays, samples which returned grades in excess of 1 g/t were re-analysed using the metallic sieve method. On average, the met screen results were 7.4% higher than those generated by fire assay, and a simple scatter plot of the data showed a relatively linear pattern centred on the 1:1 correlation line, suggesting that there is no predictable nugget effect and that the results can be seen as reliable.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is also continuing to discover new high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. In addition to the recent drilling at the Rob property, Freegold has also commenced its initial exploration programs on the Vinasale property in Alaska.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Drilling Intersects 25 g/t Over 9 feet in Further Golden Summit Expansions
Thursday October 4, 9:40 am ET
VANCOUVER, Oct. 4 /PRNewswire-FirstCall/ - Freegold Ventures Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to announce results from 59 holes drilled in four separate fences at the Company's Golden Summit project outside Fairbanks, Alaska. These holes are part of the 672-hole (40,093 foot) exploratory drill program that has been systematically testing the swarm of veins and shear zones along the known 5,000 foot strike of gold mineralization in the Cleary Hill mine area. Similar to previously released holes, the shallow, closed spaced holes in these fences continue to encounter high-grade structures at surface that correlate well from fence to fence, within much broader zones of lower grade, bulk tonnage mineralization.
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Following the drilling of fences in the Beistline shaft area this summer, which intersected multiple parallel structures that are currently being bulk sampled (see July 31, 2007 news release which reported 50.2, 34.8 and 21.9 g/tonne in near-surface 3-foot intervals), the RAB drill was re-located back to Fence 5. Fence 5 consisted of a north-south oriented line of holes on 25-foot spacing covering a width of 1,725 feet within the central part of the 5,000 foot long, east-west trending mineralized zone. Due to difficult drilling conditions at the time of the spring thaw, the middle 450-foot section of this fence was not completed. Following the receipt of assays from Fence 4 (located 385 feet to the east of Fence 5) which intersected a 175-foot wide zone averaging 0.86 g/t, including new veins assaying 36.7 and 4.4 g/t over 3 feet that trended in the direction of the gap in Fence 5, the decision was made to return and drill this middle section. A total of 20 shallow holes were drilled to an average depth of 41 feet in this area, with the assays from all of these holes averaging 0.6 g/tonne. Significant intercepts from within this in-fill zone include:
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From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton)
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517 9 42 33 0.82 0.024
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519 3 33 30 2.16 0.063
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521 12 21 9 25.31 0.738
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including 12 15 3 65.50 1.910
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524 0 24 24 0.85 0.025
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Combined with the northern and southern portion, Fence 5 now represents an excellent cross-section of the multiple, wide zones of bulk tonnage mineralization being found within the Cleary Hill area. Holes in the northern portion of Fence 5 intersected a 275-foot wide zone averaging 1.08 g/t, including a higher-grade 175-foot wide zone grading 1.56 g/tonne. Holes in the southern portion of Fence 5 also intersected a 300-foot wide zone averaging 0.68 g/t, including a higher grade 75-foot zone averaging 1.27 g/t. All of these wider zones compare favourably to the 2006 average mill feed grade of 0.83 g/t for the Fort Knox gold mine (the largest gold mine in Alaska, located less than 5 miles to the south of Golden Summit) and the mine's reported proven and probable reserve grade of 0.53 g/t.
Holes in Fence 14 were drilled next to confirm the presence of the 375-foot wide mineralized zone found in the north end of Fence 4. (Please note that these fences were not drilled in sequential order as drilling conditions, assay timing from previous fences and permitting issues resulted in the fences begin drilled in a different order from which they were originally laid out.) Fence 14 stepped 50 feet east of Fence 4 and consisted and 13 vertical holes drilled to an average depth of 66 feet over a 360 foot long north-south length. Fence 14, which averaged 0.53 g/t in all of the holes, confirmed both the width and grade of mineralization in the area over the old Cleary Hill underground mine seen in Fence 4. Significant intercepts from within this fence include:
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From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton)
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529 6 21 15 2.00 0.058
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532 27 45 18 1.40 0.041
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533 15 18 3 5.09 0.148
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534 0 78 78 0.79 0.023
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including 57 72 21 2.35 0.069
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535 48 75 27 1.06 0.031
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540 42 63 21 2.97 0.087
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541 63 78 15 5.66 0.165
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including 63 69 6 12.86 0.375
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Fence 6 (reported June 11, 2007), which was a 2,300 foot step-out further to the west of Fence 5, successfully encountered a similar style of mineralization along the Tolovana vein that trends in the same direction as the parallel zones encountered in Fences 1 to 5. The 37 shallow, closed spaced holes in this fence covered an area of 200 by 275 feet, and high grade intercepts of 23.0, 17.8 and 18.1 g/t over 3 foot intervals in multiple holes allowed the strike of the structure to be determined.
Fences 7 and 8 were drilled subsequent to Fence 14, and followed along the strike of the Tolovana structure as it headed further to the north-east in the direction of the vein swarm south of the old Cleary Hill mine. Drilling in these two fences not only identified a well defined mineralized structure, but also encountered old underground mine workings that were not previously known to have existed in the area. Additional drill fences that have been stepping out further to the east of fences 7 and 8 have now covered half of the 2,300 feet distance to Fence 5, and confirm that this Tolovana structure is one of veins that makes up the swarm south of the old Cleary Hill underground mine workings.
Fence 7, located 120 feet north-east of Fence 6, consisted of 12 vertical holes covering a surface width of 110 feet and drilled to an average depth of 62 feet. Fence 8 is located a further 160 feet to the north-east of fence 7 and consists of 14 holes covering a surface width of 120 feet and drilled to an average depth of 74 feet. Significant intercepts from these two fences include:
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From To Thickness Gold Grade Gold Grade
Hole Number (foot) (foot) (feet) (g/tonne) (oz/ton) Fence #
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542 54 72 18 3.56 0.104 Fence 7
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including 57 60 3 18.53 0.540 Fence 7
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548 12 66 54 1.08 0.032 Fence 7
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556 18 78 60 2.23 0.065 Fence 8
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including 36 45 9 4.54 0.132 Fence 8
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including 72 78 6 11.10 0.324 Fence 8
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557 0 78 78 1.03 0.030 Fence 8
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564 0 51 51 1.55 0.045 Fence 8
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including 0 24 24 2.47 0.072 Fence 8
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The final 54 holes in the current drill program are included in fences 15, 16, 17 and 18 that follow the Tolovana structure further to the north-east of fences 7 and 8, and in fence 19, which covers approximately 1,000 feet across an area along the strike extension of the central part of the south vein swarm. These final holes will be reported shortly.
In addition to the bulk sampling which is continuing in the original Beistline shaft area (where 6,000 of the 10,000 tons of sample material was collected last fall), sampling is also being undertaken over a 600 foot long area that was drilled in Fence 1. The area being bulk sampled here shows multiple, narrow, high-grade veins containing visible gold within the 12 foot high sample pit face that can be traced with confidence through exposures 50 to 100 feet apart. Many of these veins did not appear in the earlier Fence 1 drilling, as they dip steeper than the 60 to 65 degree southern dip that was projected for this area, and were generally missed by the vertical holes drilled in this area.
The Beistline structure and the parallel B1 structure have now been traced from the historic Beistline shaft through the bulk sample pits, trenches and road cuts over a distance of approximately 2,000 feet. The extensive bleed mineralization identified in the Beistline bulk sample area last fall is seen again in the Fence 1 bulk sample pits located about 1,450 feet to the west. A new geologic model for the vein swarm area in the southern, hanging wall area of the old Cleary Hill mine continues to be refined as bulk sampling continues to generate new geologic information not available from the RAB drilling.
True widths of the veins are variable, as the orientation of the various mineralized structures is variable throughout the drilling. Drilling is currently being conducted with an Ingersol-Rand conventional percussion drill. Cuttings are returned up the drill hole with the use of an OEM vacuum drill cuttings collector, and are dropped from a cyclone directly into a sample bag. Samples are collected every three feet, with the drill bit being pulled off the bottom and the hole cleaned at the completion of each sample interval. Freegold maintains a geologist and sampler at the drill rig for all drilling to take and log all samples to insure that quality assurance and control procedures are in accordance with 43-101 requirements. One duplicate assay is being conducted in every drill hole and either a blank or a standard is inserted in the sample stream every 10 samples. Alaska Assay Laboratories in Fairbanks, Alaska is being used to analyze the drill cuttings for gold via fire assay analysis plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is also continuing to discover new high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of bulk sampled material has commenced, and in addition to on-going bulk sampling of additional areas found to contain high grade surface mineralization, the Company continues to define additional areas of larger, lower grade mineralization through on-going drilling and stripping. Exploration has also commenced on the Vinasale and Rob properties in Alaska, with final assays from an 18-hole drill program at Rob to be reported shortly.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release.
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Freegold Drilling Continues Almaden Expansions - Phase 2 Drilling Underway
Thursday September 27, 5:15 am ET
TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
VANCOUVER, Sept. 27 /PRNewswire-FirstCall/ - Freegold Ventures Limited (the "Company") is pleased to announce further drill results from its Almaden resource expansion program. Based on the success of the program to date, the original Phase 1 drill program was expanded from its original 34,000 foot core/RC program to a total of 40,813 feet. Phase 1 drilling, which consisted of 40 core holes (17,773 feet) and 63 RC holes (23,040 feet) is now complete. Upon receipt of the final assays from the Phase 1 drilling within the coming weeks, the drill data base, the new geological model, and all supporting documentation will be provided to Mine Development Associates (MDA) of Reno which will be undertaking an updated 43-101 compliant resource calculation. MDA has been working with the Company over the past 9 months and is expected to have the updated resource completed within the fourth quarter of this year.
Phase 2 drilling is now underway, with one RC drill rig focusing on the expansion of gold mineralization outside the currently known resource areas further along strike to the north and south and in the area between the Main and North zones. This drilling will also attempt to expand the significant molybdenum mineralization that is being identified in the northern portion of the Main zone, in the northeast limb of the Main Zone and throughout the North zone.
The Phase 1 holes reported here were drilled in a variety of locations to gather additional structural data, to infill and reduce hole spacing, and to test for further extensions of mineralization both below the depth tested by prior operators and laterally. In addition to finding deeper mineralization in the central part of the Main Zone (440 feet of 0.022 oz/ton (0.75 g/tonne) in hole 653), deeper gold mineralization was also identified in hole 682 in the B2 structural zone in the north-east corner of the Main Zone (0.023 oz/ton (0.78 g/tonne) over 220 feet to a depth of 445 feet). Unexpected molybdenum mineralization was identified in holes 694 (0.017% MoS(2) over 35 feet at surface) in the northeast part of the Main Zone and in hole 714 (0.06% MoS(2) from 45 to 105 feet, including 0.085% MoS(2) from 55 to 90 feet) at the extreme south end of the Main Zone. These discoveries will be followed up in Phase 2 drilling. With more of the drill holes extending to greater depths in the later part of Phase 1 drilling, it appears that gold and molybdenum is becoming concentrated in more discrete structures, which may be followed further down in subsequent programs to test for bonanza grade deposits.
The following table presents the significant drill intercepts from 12 new holes drilled within the Main and North zones. These hole locations can be found on the map on our web site. Holes designated with a 'C' are core holes. The remaining holes are reverse circulation drill holes. These holes were not drilled sequentially as information from prior holes and drilling conditions resulted to changes in the order in which the original holes were drilled.
[continued in following link]
http://biz.yahoo.com/prnews/070927/to285.html?.v=57
The fun has only just begun!
Freegold Completes Commissioning of Golden Summit Processing Plant
Thursday September 13, 8:24 am ET
http://biz.yahoo.com/prnews/070913/to307.html?.v=22
TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
VANCOUVER, Sept. 13 /PRNewswire-FirstCall/ - Freegold Ventures Limited (the "Company"), is pleased to announce that it has completed the commissioning of its 1,200 ton per day plant at the Golden Summit project outside Fairbanks, Alaska, and that the first of the stockpiled material is currently being processed through this gravity-based circuit. During this plant commissioning phase, the Company has continued to collect new bulk-sample material and has drilled an additional 147 shallow exploratory holes at various locations throughout the 5,000 feet of known strike length of gold mineralization in the Cleary Hill area.
Freegold's self-contained and fully mobile plant is designed to generate gold recoveries in excess of 70% from the processing of bulk sample material without the use of chemicals. The plant consists of a mobile crushing plant, and a three-stage gravity circuit using variable sized Knelson concentrators that will produce a directly saleable gold concentrate. The plant's modular nature permits easy modification of both the flow sheet and plant configuration in order to meet the changing ore characteristics at Golden Summit or other properties where the plant may be installed. The Company has also established a portable metallurgical lab on site. This lab will allow the operators to monitor production feed-grades and recoveries using a laboratory-scale Knelson concentrator that allows for the rapid detection and quantification of visible gold in a sample.
The initial feed that is being used to optimize the plant in advance of the bulk sample processing consists of approximately 3,000 tons of mineralized dump material collected from the old Cleary Hill and Penrose mine portals. While the grade of this mine dump material is not known, work by Freegold this summer confirmed the presence of visible gold in dump material from a variety of sample locations. Historical, non 43-101 compliant, sampling suggests that the grade of the dump material ranges between 0.15 and 0.25 oz/ton (5.1 to 8.6 g/tonne). In the event that the grade of the processed material proves economic, Freegold will process the remaining 35,000 tons of dump material.
After the completion of the plant optimization, the plant will begin processing the 10,000 ton bulk sample collected last fall. This material has been segregated into eight stockpiles based on location and ore type, and will be processed in separate batches. In order to determine gold grades and recovery, each stockpile will initially be weighed and sampled at the feed end, with additional samples taken from the tailings stream and gold concentrate. Once the original bulk samples have been processed, the plant will then process the next 8,000 tons from mineralized material recently excavated and stockpiled from the Beistline shaft and eastern Cleary Hill mine areas. A minimum of 25,000 tons of material is expected to be sampled and fed through the plant over the next two months before processing is suspended for the winter season.
The combination of RAB drilling and new bulk sampling continues to establish the continuity of the high grade structures on the eastern end of the Cleary Hill mine area. As was reported on July 31, 2007, a new swarm of parallel veins and shear zones hosting high-grade surface gold mineralization was uncovered in the Beistline shaft area. A total of 4 parallel east-west structures were identified over the 175 foot width of hanging wall that had been uncovered at that time. Ongoing bulk sampling has now traced the first two of these structures over a length of 800 feet to the area of Fence 2 drilling. Lab analyses on recently excavated bulk sample material continues to show visible gold hosted in rocks within the main structures as well as in the 75-foot wide bleed zone between the parallel B and B1 structures, where 3-foot long vertical channel samples last fall returned grades as high as 18 oz/ton (617 g/tonne) and 1.9 oz/ton (65 g/tonne).
Bulk sampling along the north-south oriented drill Fence 1, a further 700 feet west of Fence 2, has again encountered the strike extension of the B and B1 structures. Additional mineralized structures were also encountered in the hanging wall of the B1. One of these structures contains a mottled gray quartz vein containing visible gold. This vein appears to be similar in appearance to, and occurs on the strike projection of the Wackwitz vein from its last known exposure 250 feet further west. These additional veins run parallel to the main Beistline structure, dip 50 to 65 degrees to the south, and are often linked by north-dipping mineralized structures containing bleed-type gold mineralization.
In addition to the bulk sampling, Freegold continued with its RAB drill program throughout the summer. Given the success that this shallow, close-spaced drilling had in identifying and correlating mineralized structures and shear zones in the Cleary Hill area over the past nine months, the Company elected to expand the size of the program from its initial 25,000 feet of drilling. An additional 147 holes (11,212 feet) were drilled since the holes reported on July 31, 2007 were completed, bringing the total number of holes to 674 (40,093 feet). These latest holes have been grouped into 12 fences, two of which were located in the Cleary Hill area, and 10 of which were in the Tolovana area on the western end of the 5,000 foot long zone. Results from these new holes will be reported shortly. The RAB drilling has been suspended for the time being to allow the remaining assays to be received and to allow time for further analysis of the data. Additional drilling to further extend the strike length of these vein swarms beyond the current known eastern (Beistline) and western (Tolovana) limits may be undertaken this winter. In addition, the Company is currently planning its next phase of exploration, which will include the systematic drilling of deeper holes for resource generation purposes.
Freegold Office Relocation
Freegold also wishes to announce that it has moved its head office. The Company is now located at 1750 - 700 West Georgia Street, P.O. Box 10056, Vancouver, BC, V7Y 1B6. The new telephone number is (604) 662-7307 and the new fax number is (604) 662-3791. All e-mail contacts remain the same.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. In addition to the activities being undertaken at Golden Summit, the Company has also commenced exploration on its Vinasale and Rob properties in Alaska, and is currently awaiting final assays from an 18-hole drill program at Rob.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott, VP Corporate Development, (604) 662-7307, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Press Release Source: Freegold Ventures Limited
Freegold Commences Vinasale Exploration Programs
Thursday September 6, 8:00 am ET
TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
VANCOUVER, Sept. 6 /PRNewswire-FirstCall/ - Freegold Ventures Limited (the "Company"), is pleased to announce the commencement of field activities on the Vinasale gold project, located 16 miles south of McGrath in central Alaska. As was reported on March 2, 2007, Freegold has entered into a Mining Exploration Agreement with Option to Lease with Doyon Limited, an Alaskan Native Regional Corporation, on Doyon's 100% interest in the Vinasale Gold Property. This agreement covered 128,000 acres, and includes the Vinasale gold deposit, which occurs in the same northeast trending belt of igneous intrusion-related deposits that include the 33 million ounce Donlin Creek gold deposit and the operating Nixon Fork gold mine.
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Freegold's first activity on the project was to stake an additional 12,000 acres of ground this spring, enlarging the property position under the agreement to 140,000 acres. This staking was conducted to the northeast of the deposit, as results from previous wide spaced drilling in the early 1990's indicate that the gold mineralization may trend in that direction.
Freegold's exploration program for the current year is aimed at evaluating the large land package surrounding the deposit, where limited systematic work has been conducted in the past. Freegold's reconnaissance efforts on the property include a recently completed stream, soil and rock sampling program. This program will be followed with an airborne geophysical exploration program. Freegold has contracted Fugro Airborne Surveys Corp., which will be flying a 1,788 line kilometer high resolution EM and Magnetic survey over the project area in late September. Results from both of these programs will be released later in the year.
In addition to following up on any targets that may be identified in the current programs, Freegold's programs for next year will include new drilling aimed at confirming and expanding the gold mineralization currently defined by 36 historic holes drilled on 200 foot spacing within the Central Zone of the deposit.
Freegold to Attend Denver Gold Forum
Freegold is also pleased to announce that it has been selected to attend the Denver Gold Group's Gold Forum as an "Up & Coming" company at its Forum on September 23 to 26th. This invitation-only conference is internationally regarded as one of the world's most prestigious precious metals investment forums, attended by major global fund and portfolio managers, institutional investors and analysts. Apart from its attendance at the conference, Freegold will also be co-sponsoring the Up & Coming Reception held on Tuesday, September 25th from 6 to 9 p.m. at the Denver Art Museum.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 41,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is continuing to discover new high-grade veins and bulk tonnage shear zones in its 25,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of an initial 10,000-ton bulk sample collected in the fall of 2006, along with additional bulk sampling/processing of additional areas containing surface high grade gold mineralization will commence shortly. Drilling to outline larger, lower grade bulk tonnage targets on the property will continue throughout the year. In addition to its Vinasale project, Freegold has also commenced exploration on its Rob property in east-central Alaska, and has just completed drilling on the first two high-grade gold targets.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Kristina Walcott - VP Corporate Development, (604) 685-1870, 1-800-667-1870, jkw@freegoldventures.com
--------------------------------------------------------------------------------
Source: Freegold Ventures Limited
Freegold Completes Initial Drill Program on High-Grade Rob Property Targets
Thursday August 30, 9:41 am ET
TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
VANCOUVER, Aug. 30 /PRNewswire-FirstCall/ - Freegold Ventures Limited (the "Company") is pleased to announce results from recent surface sampling programs, and the completion of an initial 17 hole (3,514 foot) drill program at its Rob project In east-central Alaska. Surface samples collected from five separate vein systems within the 4,240 acre property in late 2006 and more recently in June 2007 continue to return high grade gold assays from a number of vein systems on the property. Drilling has now been conducted by Freegold on two of these vein systems, Gray Lead and O'Reely, both of which have intersected quartz veins averaging true widths of 10 and 4 feet respectively within surrounding gneissic host rocks. Final assays from these core holes are expected to be reported within the next few weeks.
Freegold acquired the Rob property in 2002 and has a 100% lease interest in the property. Rob is located 110 miles southeast of Fairbanks, and lies within the Goodpaster Mining District on the eastern end of the same gneissic dome that hosts gold mineralization at Teck Cominco/Sumitomo's recently commissioned Pogo gold mine. Pogo, located approximately 20 miles west from Rob, is currently the largest underground gold mine in Alaska with planned production over its 10 year-life estimated at 350,000 to 450,000 oz/year. Pogo's 5.6 million ounce gold resource is hosted within stacked, flat-lying quartz veins that average approximately 0.5 ounces of gold per ton. Gold at Pogo is associated with a distinctive geochemical trace element suite (gold, bismuth, arsenic) similar to the mineralization discovered at Rob. Since the opening of the Pogo mine in 2006, this district has received considerable investor attention, most notably with the consolidation of a 513,000 acre land package through staking and joint venturing by Goldcorp founder Rob McEwen. This large land package (subsequently merged into Rubicon Minerals) surrounds the Pogo mine and the Rob property, and was acquired due to the shared belief that the gold mineralization at Pogo is not a unique occurrence in the district.
The first systematic exploration on Rob was undertaken from 1995 to 1998 by Sumitomo Metal Mining and WGM, during which time they conducted over $1.3 million in airborne/ground geophysics, soil/rock geochemical sampling, geologic mapping, trenching and limited diamond drilling. This program successfully identified numerous target areas, many of which have not been tested to date. The program also confirmed that the high-grade quartz veins at Rob are related to similar low-sulphur, high temperature intrusive events similar to Pogo, and that the host rocks have been cut by similar high angle NE and NW fault systems.
Freegold's initial work in 2002/2003 centered on rock sampling and top-of-bedrock auger soil sampling programs designed to confirm results previously reported in the 1990's. This program confirmed high-grade gold occurrences at a number of target locations throughout the property. Significant assays from this 2002 sampling program include:
2002 Significant Freegold Grab Sample Results
[continued in following link]
http://biz.yahoo.com/prnews/070830/to391.html?.v=26
Freegold Drilling Hits 50.2 g/t, 34.8 g/t, and 21.9 g/t Au in Significant Beistline Area Expansion at Golden Summit
Tuesday July 31, 3:01 am ET
VANCOUVER, July 31 /PRNewswire-FirstCall/ - Freegold Ventures Limited (the "Company") is pleased to announce the discovery of a new swarm of parallel veins and shear zones hosting high-grade surface gold mineralization on the eastern end of the Cleary Hill area at the Golden Summit project outside Fairbanks, Alaska. Recent drilling and bulk sampling in the area of the Beistline shaft has identified 4 parallel east-west trending structures to date over a width of 175 feet. Two of the structures have been traced over a strike length of 860 feet and remain open in both directions. Significant gold mineralization has also been intersected between the first two structures in the form of linking shears and ladder structures. Results from the 2006 trenching suggest that this new vein swarm may extend up to 400 feet in width, and represents an attractive target for the delineation of bulk tonnage gold mineralization, similar to the multiple 150 to 300 foot wide vein/shear systems identified in shallow, closed spaced drilling over a 5,000 foot strike length further to the west. The high-grade mineralization intersected in recent drilling in this area is currently being bulk sampled and stockpiled and will be added to the plant feed this fall once the Company's on-site 1,200 ton per day gravity plant is fully commissioned within the coming weeks.
Bulk sampling in this Beistline area in the fall of 2006 consisted of the extraction of approximately 2,800 tons of material from the main Beistline structure, and an additional 3,300 tons of bleed mineralization, which was collected principally from the hanging wall of this same structure. The final excavation in this area was a sample pit approximately 300 feet long, 30 feet wide and 30 feet deep. These 6,100 tons (in addition to 3,900 tons collected from 6 other areas on the property) are expected to be crushed, sampled and processed in August.
The first new extension of mineralization in this area was identified during the recent construction of a ramp into the previous pit area. This ramp uncovered the main Beistline structure over an additional 560 feet of strike length to the west with no visible offset by crossing faults. In order to determine gold grades within this 65 degree dipping structure and within the immediate hanging wall, a series of shallow vertical holes were drilled on 10-foot spacing, to a maximum depth of 78 feet. These holes, which tested the first 300 foot westward extension of the main structure from the previous pit limit, successfully intersected numerous high-grade zones in the 10 g/t to 50 g/t range, which were often surrounded by wider zones of lower grade mineralization. Significant assays from the drilling which tested the Beistline structure include:
[continued in following link]
http://biz.yahoo.com/prnews/070731/to395.html?.v=21
I am not a subscriber to IHUB therefore can not post on the breaking news site.
We need someone that is to copy the press realease and post it !
Wow those are some great drills! And the share price is acting accordingly. So happy I got filled last week. Up up up from here!
Got to love GTC orders. Finally got filled today thanks to irrational selling everywhere, well, in gold stocks at least. The dollar finally had its much anticipated bounce yesterday. Time for gold and silver to start heading back higher again......starting NOW!
Not the Press release I'm looking for, but it helps.
Now for them to report Gold extraction, that's what I'm looking for!
Freegold Completes Construction of 1,200 Ton/Day Portable Gravity Processing Plant
7/18/2007
VANCOUVER, Jul 18, 2007 (Canada NewsWire via COMTEX News Network) --
TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
Freegold Ventures Limited (the "Company") is pleased to announce completion of construction of a self-contained, modular, and portable gravity plant designed to process free-milling gold ores at a rate of up to 1,200 tons per day. The plant is currently being installed at the Company's Golden Summit project outside Fairbanks, Alaska, where gold recoveries in excess of 70% are expected from the processing of bulk sampled materials without the use of chemicals or leaching.
The design of the plant was based upon the results of metallurgical testing done on the gold mineralization contained within the 10,000 tons of stockpiled bulk sample material collected from the Golden Summit property in the fall of 2006. McClelland Laboratories of Sparks, Nevada initially prepared various representative composites using the 8 separate bulk samples locations and conducted preliminary gravity testing to confirm the presence of visible gold. The composites were subsequently sent to Knelson Gravity Solutions of Langley, BC for testing using their standardized Gravity Recoverable Gold (GRG) test work. This work confirmed that the Golden Summit composites contained free-milling gold, with recoveries from the high-grade samples ranging from 70.7% (at 100% passing 1/4") to 79.6% (at 100% passing 100 mesh).
The components of Freegold's plant were purchased from various sources throughout the western U.S. and were shipped to AEPS of Yuma, AZ which was responsible for the final plant configuration and fitting. This circuit consists of a primary impact crusher and a secondary cone crusher with screening plant that feeds the material into a series of four Knelson concentrators. The concentrate from this plant is then sent on to a Diester gravity table for the generation of the final gold concentrate. The plant is fully automated and will be operated on a closed loop basis. In addition to the plant, Freegold has also acquired a complete metallurgical test lab that will be located adjacent to the plant. This lab consists of crushers, pulverizers, a small ball mill, a 4" Knelson concentrator and flotation equipment, and will be used for mill feed control, plant optimization and for ongoing exploration work on the property.
Given the typical 6-month duration of the processing season in Alaska for this type of gravity circuit, Freegold's plant has been designed for ease of transport and installation in order to move the plant to an alternative processing location during the winter months. The company has commenced the examination of other projects that contain free-milling gold that could be amenable to processing with this plant on a seasonal basis.
The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited is a North American exploration and development company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 34,000-foot drilling program aimed at further expanding the size of the resource prior to undertaking new economic evaluations in 2007. Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is continuing to discover new high-grade veins and bulk tonnage shear zones in its 25,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of an initial 10,000-ton bulk sample collected in the fall of 2006, along with additional bulk sampling/processing of additional areas containing surface high grade gold mineralization will commence shortly. Drilling to outline larger, lower grade bulk tonnage targets on the property will continue throughout the year. Freegold has also optioned the Vinasale Gold Deposit in Alaska, from Doyon, Limited, where geophysical, mapping and sampling programs will be carried out on the property in 2007.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
SOURCE: Freegold Ventures Limited
Kristina Walcott - VP Corporate Development, (604) 685-1870, 1-800-667-1870, jkw@freegoldventures.com
I'm waiting on the next press release since they now have all the permits in place. Next one should tell us amount of recovery in progress !
Go FGOVF
Freegold Receives Final Permits for Commencement of Gold - Processing Operations at Golden Summit -
Monday July 16, 8:58 am ET
TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
http://www.freegoldventures.com
VANCOUVER, July 16 /CNW/ -
Freegold Ventures Limited -
(the "Company") is pleased to announce that it has received
all of the necessary permits required to commence the on-site
processing of bulk sampled high-grade surface gold
mineralization at the Company's Golden Summit property
outside Fairbanks, Alaska.
In addition to processing and recovering the gold
contained within the 10,000 tons of vein material
excavated and stockpiled last fall, the new permits
also allow for the on-going collection and processing
of an additional 50,000 cubic yards (approximately 108,000
tons of rock) per year of bulk sampled material on
the site through May 2012.
These 5-year permits include a small mine permit issued by
the Alaska Department of Natural Resources which covers
the installation and operation of the Company's chemical
free, gravity-based processing plant, along with water
usage, tailings storage and site reclamation activities.
The Company has also received final approval of a Hard
Rock Exploration permit covering BLM claims on the western
end of the property.
This permit covers additional trenching, drilling, bulk -
sampling and reclamation activities in -
the Cleary Hill mine area -
as well as on the recently drilled Tolovana (Fence 6) and
the prospective Newsboy and Newsboy Extension areas.
Agencies which were involved in the issuance of these
permits included the Alaska Department of Natural
Resources, the Alaska Department of Fish and Game,
the Alaska Department of Environmental Conservation,
the U.S. Army Corps of Engineers and the U.S Bureau of
Land Management.
The Qualified Person for this release is Michael P. Gross,
M.S., P. Geo., VP Exploration, Freegold Ventures Limited.
About Freegold Ventures Limited
Freegold Ventures Limited
is a North American exploration and development company
with a new management team experienced in mine development
and production that is actively exploring advanced-stage
gold projects in Idaho and Alaska.
Freegold holds a 100% lease interest in
the Almaden gold project in Idaho.
This large tonnage epithermal gold deposit was the subject
of a feasibility study in 1997 calling for the development
of a 95,000 oz/year open pit, heap leach mine.
Freegold is currently finalizing a 34,000-foot drilling
program aimed at further expanding the size of the resource
prior to undertaking new economic evaluations in 2007.
Drilling at depth and to the north and south of the known mineralization is continuing to identify new extensions to the deposit. Freegold is continuing to discover new high-grade veins and bulk tonnage shear zones in its 25,000-foot drill program at its Golden Summit project outside Fairbanks, Alaska. Gold production from the processing of an initial 10,000-ton bulk sample collected in the fall of 2006, along with additional bulk sampling/processing of additional areas containing surface high grade gold mineralization will commence shortly. Drilling to outline larger, lower grade bulk tonnage targets on the property will continue throughout the year. Freegold has also optioned the Vinasale Gold Deposit in Alaska, from Doyon, Limited, where geophysical, mapping and sampling programs will be carried out on the property in 2007.
On behalf of the Board of Directors
"Steve Manz"
Steve Manz
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news release. CUSIP: 45953B107
DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
For further information
Kristina Walcott -
VP Corporate Development,
(604) 685-1870,
(800) 667-1870,
jkw@freegoldventures.com
Source: Freegold Ventures Limited
http://biz.yahoo.com/cnw/070716/freegold_finalpermits.html?.v=1
http://www.investorshub.com/boards/board.asp?board_id=6526
http://siliconinvestor.advfn.com/subject.aspx?subjectid=57008
Next Press release this sucker should run wild. I've been in and just waiting !
GORO also just pulled back about 7% so it's in a buy area also .
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The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
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