Freegold Ventures Limited is a North American exploration company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho (Almaden) and Alaska (Golden Summit).
Freegold holds a 100% lease interest in the Almaden gold project in Idaho.
This large tonnage, disseminated, 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 in the midst of a 34,000-foot drilling program aimed at further expanding the size of the resource prior to updating the feasibility study in 2007.
Freegold has also discovered new high-grade veins in surface trenching at its Golden Summit project outside Fairbanks, and has recently completed the stockpiling of 10,000 tons of bulk sample material that will be processed in the spring of 2007.
In excess of 7 million ounces of gold has historically been recovered from the Golden Summit property, which is located less than 5 miles from the Fort Knox mine, Alaska's largest gold mine.
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