Encouraged by preliminary results from the first round of drilling on the Tolovana property in Alaska’s Fairbanks district, International FreeGold Mineral Development (VSE) is set to begin a second phase of drilling.
Initial results from the first five holes of a 16-hole program include a 335-ft. intersection of strongly altered, sheared, granodiorite grading 0.049 oz. gold at a depth of 140 to 475 ft. The vertically drilled hole (no. 4) bottomed in mineralization.
Another hole stepped out 200 ft. northwest of the discovery hole and intersected: 25 ft. at a depth of 20-45 ft. grading 0.077 oz.; 45 ft. from 110 to 155 ft. grading 0.031 oz.; and 90 ft. from 210 to 300 ft. grading 0.063 oz.
FreeGold holds an option to earn a full interest in the property. Required work commitments have forced the company to attach a higher priority to Tolovana than to its adjacent Golden Summit project.
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