TNM Drill Down: Freegold Ventures reports top gold assay for Jan. 20-27

Our TNM Drill Down features highlights of the top gold assays of the past week. Drill holes are ranked by gold grade x width, as identified by our sister company Mining Intelligence.

The Americas produced this week’s top drill assays, and Vancouver-headquartered Freegold Ventures (TSX: FVL) took the lead with its Golden Summit project in central Alaska. The junior reported 90.8 metres grading 3.83 grams gold per tonne from 363 metres depth, for a width x grade value of 731 in hole GS2232. The hole was one of seven drilled into the Dolphin deposit that returned high grades or expanded mineralization. Hole GS2215 returned 370.1 metres grading 1.71 grams gold from 189.3 metres depth, including 3 metres of 119 grams gold near the central part of Dolphin. Hole GS2226, drilled to the north and on the western side of the Tolovana Vein expanded mineralization to the north in an area of limited drilling. GS2236, drilled in the same direction as GS2226 returned 175.3 metres grading 1.93 grams gold from 53 metres depth and 42.1 metres grading 5.5 grams gold, and demonstrates expansion potential to the west. According to a preliminary economic assessment of the project, published in 2016, it has an indicated resource of 61.4 million tonnes grading 0.7 grams gold for 1.3 million oz. of contained metal, and an inferred resource of 71.5 million tonnes grading 0.69 grams gold for 1.5 million oz. of contained metal.

The second best assay of the week comes from New Pacific Metals’ (TSX: NUAG) Carangas silver-gold project in Bolivia. Hole DCAr0094 returned 504.6 metres grading 1.22 grams gold per tonne from 228.5 metres depth, for a width x grade value of 616. That hole was among four deep step-out holes drilled south of the previous gold intercepts, and included DCAr0067 that cut 513.6 metres grading 0.72 gram gold from 171.34 metres, and a 112.11-metre interval of 1.82 grams gold from 450.42 metres, with the hole ending in gold mineralization at 688 metres depth due to drill hole problems. Hole DCAr0078 cut 668.7 metres grading 0.48 gram gold from 179.3 metres, which was collared in the southern portion of the Central Valley, between the so-called East and West Dome hills of the Carangas area. Hole DCAr0081 cut 404.25 metres grading 0.42 grams gold from 141.5 metres depth. An inaugural resource estimate for Carangas is planned for the second quarter of this year.

The third best assay of the week comes from Calibre Mining’s (TSX: CXB) Golden Eagle project in northwestern Washington State. Hole GEC22-003 returned 195.1 metres grading 2.9 grams gold per tonne from 105.8 metres depth for a grade x width of 566. The results are from three holes of the Vancouver-based miner’s first phase diamond drill program at the 100%-owned project. Calibre also reported that Hole GEC22-001 returned 4.3 grams gold over 92.42 metres from 96.7 metres depth, as well as 7.8 grams gold over 17.3 metres from 154.8 metres. Hole GEC22-006 returned 2.38 grams gold over 114.3 metres from 42.7 metres; 2.66 grams gold over 19.8 from 19.8 metres and 2.65 grams gold over 25.7 metres from 160 metres. “Results from Golden Eagle reinforce the potential for this project to provide significant value to Calibre shareholders,” said Calibre CEO Darren Hall, in a Jan 24. news release. “I look forward to results from the second phase of drilling as well as the commencement of a comprehensive metallurgical program to fully assess this strategic asset’s potential.”