Denver — A one-hole diamond drilling program at the Golden Summit project in Alaska’s Fairbanks district has intercepted a new zone of high-grade gold mineralization.
The mineralization consists of sericitically altered metamorphic rocks, with pervasive quartz veining and flooding, along with hydrothermal brecciation. The breccia also contains previously altered and veined intrusive rocks, representing further potential at depth. Gold values were associated with arsenic, antimony, lead and silver.
The 300-metre angled core hole also cut 2.7 metres of 3.74 grams gold above the Currey zone, at a depth of 116 metres. At a depth of 520 metres was a 0.6-metre interval grading 86.1 grams gold in the Colorado vein.
Freegold and its geological consultant, Avalon Development, collared the hole at the Cleary Hill prospect, south of the Wyoming vein, the southernmost vein in the area.
The company also intersected the downdip projections of 17 smaller gold veins in the hangingwall of the Cleary Hill vein, including the Colorado vein.
Further drilling and trenching will endeavour to determine the strike and dip of the Currey zone, as well as its potential for hosting either a bulk-tonnage surface deposit or a high-grade vein deposit. Meanwhile, much of the company’s resources have been shifted to its 10 platinum group metals properties in the Sudbury basin of Ontario.
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