Freegold updates resource estimate for Golden Summit project in Alaska

Vancouver-based International Freegold Mineral Development (ITF-V) has calculated gold resource estimates for four prospects at its Golden Summit project near Fairbanks, Alaska.

*At the Dolphin prospect, drill-indicated resources are estimated at 30.6 million tons grading 0.02 oz. gold per ton over a 1,500-ft. strike length.

* At the Christina prospect, indicated resources are estimated at 150,400 tons of 0.46 oz. gold over a 2,600-ft. strike length.

* Drill-inferred resources at the Cleary Hill prospect are pegged at 125,000 tons of 0.81 oz. gold along a strike length of 1,500 ft.

* At the Tolovana prospect, inferred resources are estimated at 36,525 tons grading 0.29 oz. gold over 1,500 ft.

The 22,000-acre project will be subjected to at least 35,000 ft. of reverse-circulation and diamond drilling in 1997.

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