Vancouver – With the final drill-hole results of 2008 in from the Nucleus zone Northern Freegold Resources (NFR-V) has doubled the strike length of a high-grade gold mineralization to over 750 metres.
In 2008 Freegold was expanding a north-south trending disseminated gold target when it hit bonanza gold grades in a system of east-west trending sulphide rich veins and veinlets. Hole 99 hit as much as 1 metre grading 410 grams gold.
Freegold quickly split its drill resources and in addition to drilling the low grade gold target it collared holes on strike to the west. Intercepts from the latest 12 drill-holes push gold mineralization over 300 metres on strike to the west.
The westernmost intercept in hole 120 hit 1 metre grading 36 grams gold per tonne starting 56 metres down-hole.
About 125 metres southeast of hole 120 Freegold cut 4 metres grading 55.27 grams gold in hole 113 starting at a depth of 60 metres.
Hole 111, collared 50 metres south of hole 113, returned 8 metres grading 25.33 grams gold starting 30 metres down-hole.
Hole 100, one of three holes intercepting decent gold mineralization 150 metres east of hole 113, hit 1 metre grading 17.9 grams gold at a depth of 244 metres.
Freegold says the east-west trending mineralization is open at depth and along strike and, with about $4 million in cash on hand, that it will concentrate its 2009 drill program on the high grade gold target.
The Nucleus zone is Freegold’s primary focus on its 166-sq.-km Freegold Mountain property 175 km northwest of Whitehorse.
Freegold’s share price received a modest boost on the news gaining 3¢ to 57¢. The company has about 46.7 million shares outstanding and a 52-week trading range between 13.5¢ and 90¢.
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