Freegold Ventures

Overview

“Discover the unparalleled potential of Freegold Ventures (TSX:FVL,OTCQX:FGOVF), an distinctive exploration firm with its flagship asset located within the famend Tintina gold belt. Golden Summit, situated only a 30-minute drive from Fairbanks, now hosts what’s believed to be one of many largest undeveloped gold assets in North America.”

Freegold’s Shorty Creek venture, in the meantime, is an untapped world of copper and gold located simply 125 street kilometers northwest of Fairbanks. This hidden gem of an asset boasts intensive exploration potential and a plethora of promising targets simply ready to be uncovered. With spectacular drill outcomes together with a number of intercepts higher than 0.25 % copper, in addition to gold, silver and tungsten over extensive intervals of 300 to 400 meters, the Shorty Creek venture is primed for achievement.

In February 2024, Freegold additional solidified its land place by finishing the acquisition of the Tolovana gold property, which fashioned a part of the Golden Summit venture. , which was beforehand topic to a 20-year lease.

Alaska’s exploration potential is second to none in North America. The state is already a major gold producer, second solely to Nevada in the USA. In the present day, metals contribute to greater than 90 % of the worth of minerals mined in Alaska, which has an extended and affluent mining historical past with vital underexplored mineral assets. A number of notable corporations with producing mines in Alaska embrace Kinross Gold (TSE:Ok), Northern Star Sources (ASX:NST), Hecla Mining (NYSE:HL), Coeur Mining (NYSE:CDE), and Teck Sources (NYSE:TECK).

Between 2020 and 2022, Freegold accomplished over 83,000 meters of drilling, leading to a major enhance in its mineral useful resource estimate following a interval of dormancy since its final main drilling program in 2013. An extra 26,000 metres had been drilled in 2023 totally on the the western aspect of the Dolphin deposit.

The present useful resource is proscribed to the Dolphin-Cleary Space, the one space of the venture with a delineated useful resource. Nonetheless, the deposit remains to be open, notably in direction of the west and southwest. The 2024 exploration program goals to broaden the deposit by testing this extremely potential soil geochemical anomaly and exploring different extremely potential targets inside the property, unleashing the complete potential of this gold-rich property.

A extremely skilled administration group leads the corporate with many years of expertise in mineral exploration and growth. It’s supported by a board with wealthy geological, manufacturing and monetary experience. Freegold’s group has demonstrated data in growing assets and a historical past of attracting main companions, together with prolific investor Eric Sprott.

Firm Highlights

• Freegold Ventures’ Golden Summit is a gold venture situated within the prolific Tintina gold province, half-hour away from the town of Fairbanks in Alaska.
  • 2023 mineral useful resource estimate reveals an indicated useful resource of 12 million ounces and an inferred useful resource of seven.7 million ounces utilizing $1,792 gold, making the Golden Summit venture one of many largest independently owned undeveloped gold assets in North America.
  • The 2023 drill program has been accomplished with outcomes from the Saddle Zone demonstrating vital enlargement potential with drilling 250 meters west of the primary ClearyDolphin zone intersecting a number of zones with over 2 grams per ton (g/t) of gold over a substantial width (2.12 g/t over 197.3 meters ) inside a broader interval of 1.76 g/t gold over 276.5 meters.
  • A number of vital exploration targets stay to be examined.
• The venture is situated roughly 8 kilometers northwest of Kinross’s Fort Knox mine, which has produced greater than 8 million ounces of gold to this point
• Freegold Ventures’ Shorty Creek is an underexplored copper, gold and tungsten porphyry venture with a number of potential targets. Additionally it is in proximity to the town of Fairbanks.
• Most lately, Freegold Ventures has accomplished the acquisition of the Tolovana gold property in Alaska for US$655,260

Key Initiatives

Golden Summit

An preliminary useful resource was accomplished at Golden Summit in 2011 based mostly on historic work accomplished on the venture, and between 2011 and 2013, a number of mineral useful resource updates had been accomplished.The corporate launched a preliminary financial evaluation( PEA) in 2016, which at $1,300 per ounce gold worth resulted in a pit constrained indicated useful resource of 61.46 million tonnes, containing 1.36 million ounces at 0.69 grams per ton (g/t) gold, and inferred assets of 71.50 million tonnes, containing 1.58 million ounces of 0.69 g/t gold.

Freegold’s progressive strategy in 2019 led to a useful resource dimension enhance and elevated deposit grade. With backing from gold investor Eric Sprott, the corporate raised $2 million, leading to a outstanding 188 meters at 3.69 g/t gold in Could 2020. This success led to additional funding, amassing over C$40 million by September 2020. This permitted an intense drilling program, leading to a useful resource replace in February 2023, with over 83,000 meters of drilling accomplished.

The drilling carried out from 2020 to 2022 led to a major enchancment within the grade and dimension of assets on the Golden Summit venture. Because of this, Golden Summit has now change into some of the vital undeveloped gold assets in North America. Not solely is the rise in assets spectacular, however Freegold’s discovery value is almost unmatched within the trade, at simply $4 per ounce. In March 2023, Freegold secured an additional Cdn$20 million in funding, with assist from Eric Sprott and different main establishments. This funding allowed for an extra 26,000 meters of drilling in 2023, primarily focused on the western a part of the Dolphin deposit, with preliminary wide-spaced drill testing of the Saddle Zone as nicely.

Freegold’s 2023 drill program has been very profitable in demonstrating vital enlargement potential with drilling 250 meters west of the primary Cleary Dolphin zone intersecting a number of zones with over 2 g/t of gold over a substantial width (2.12 g/t over 197.3 meters) inside a broader interval of 1.76 g/t gold over 276.5 meters.

Outcomes of drilling on the Saddle zone, which is 4 kilometers east of the central Dolphin/Cleary zone, additionally present additional enlargement potential to the east. The Saddle zone includes an intensive vein system mapped on the floor, masking a 3-kilometer by 1-kilometer space. The 2023 program examined an 800-meter strike size of this vein swarm and efficiently intersected engaging gold and silver mineralization in all seven reconnaissance holes.

An up to date mineral useful resource estimate is deliberate to be accomplished in 2024 based mostly on the drilling accomplished within the Dolphin/Cleary Zone.

Optionality: One other Plus

Regardless of boasting a major dimension, Golden Summit has what’s termed “optionality.” In easy phrases, rising the cut-off grade results in a rise within the total grade. The bottom case for the useful resource used a 0.45 g/t gold cut-off. Even after rising the cut-off to 0.75 g/t gold, the useful resource stays close to the highest of undeveloped gold assets in North America.

Systematic exploration has recognized a number of different exploration targets which will likely be drill examined in 2023. Historic previous producers just like the Cleary Hill Mine, which yielded a formidable 281,000 oz with a mean grade of 1.3 oz/t, underscore the potential for achievement of this strategy. Notably, the Dolphin-Cleary space’s high-grade veins are flanked by lower-grade envelopes that include vital tonnage. The American Eagle, one other historic high-grade producer situated 4 kilometers east presents a wonderful alternative to determine a brand new, probably vital massive tonnage deposit. As well as, to the west of the Dolphin-Cleary, lies a gold-in-soil anomaly spanning over 1 kilometer within the route of the past-producing Newsboy Mine. Freegold’s systematic strategy to exploration positions the corporate nicely for additional success.

Shorty Creek

The Shorty Creek is a copper-gold and tungsten porphyry venture situated in Alaska. The roughly 31,000-acre venture is accessible by freeway and located 125 kilometers from the town of Fairbanks, which has entry to infrastructure and companies. The Shorty Creek venture can be 4 kilometers from the previous mining city Livengood, a group based on placer gold manufacturing.

Freegold acquired the venture in 2014, and the invention gap was drilled in 2015. On this gap, SC 15-03, there was an intersection of 292.6 meters grading 0.26 % copper, 0.12 g/t gold, and three.23 g/t silver, together with 91.4 meters grading 0.55 % copper, 0.14 g/t gold, and seven.02 g/t silver. Subsequent drilling between 2016 and 2019 has returned a number of lengthy intercepts. For instance, in SC 16-02, there was an intersection of 434.5 meters grading 0.36 % copper, 0.12 g/t gold, 7.46 g/t silver, and 0.034 % tungsten trioxide. Many of the holes led to mineralization..

Using airborne magnetic survey knowledge has proved invaluable to exploration at Shorty Creek. A number of targets have been recognized all through a 100-square-kilometer space. Success has been had at Hill 1835, the place the 1-kilometer by 1.5-kilometer magnetic anomaly seems to be instantly related to copper mineralization. A big quantity of drilling has already been accomplished on this compelling goal, and the potential for added discovery stays excessive.

In 2021, roughly 3,400 meters of drilling had been accomplished. With restricted exploration and just one space systematically explored, and a number of recognized targets on the property, the venture presents a chance to take part in a probably vital copper-gold porphyry venture.

Administration Group

Ron Ewing – Director and Chairman

Ron Ewing has 30 years of expertise within the mining and mineral exploration and operational trade as a director and officer of a number of public corporations. As an officer, he served in numerous finance and company affairs features. Ewing was the director and officer of Gold-Ore Sources till Elgin Mining acquired it. Ewing was additionally the manager vice-president of Euro-Zinc Mining, the vice-president of Lundin Mining, and Oro Mining’s director.

Kristina Walcott – President, Chief Government Officer and Director

Kristina Walcott has labored in numerous capacities within the mining and mineral exploration trade for the previous 20 years. She has been president and CEO of Freegold Ventures since September 2009 and a director since July 2010. Walcott has held a number of administrative and area positions. As well as, she was actively concerned within the geophysical contracting trade the place she assisted in remote-site area geophysical surveys for main and junior mining companies. Earlier than she was appointed president and CEO, Walcott was the corporate’s vice-president of enterprise growth between March 2005 and September 2009. Because the vice-president of enterprise growth, she was liable for figuring out and buying new enterprise alternatives within the mining sector.

Alvin Jackson – Director and VP of Exploration and Improvement

Alvin Jackson has been a director of Freegold Ventures since March 2010 and the vice chairman of exploration and growth since February 2011. Jackson was instrumental within the growth of EuroZinc Mining Company. EuroZinc Mining acquired the Aljustrel zinc-lead venture and the Neves-Corvo copper mine in southern Portugal. On account of these acquisitions, EuroZinc Mining Company grew to a market capitalization of over $1.8 billion earlier than merging with Lundin Mining in 2006. Jackson has over 40 years of expertise in mineral exploration and mine growth. Jackson was instantly concerned within the exploration and growth of two vital gold deposits and one porphyry copper deposit –– all of which subsequently turned producers.

David Knight – Director

David Knight was a securities and mining lawyer primarily and was a senior associate with Weirfoulds LLP based mostly in Toronto. His observe suggested purchasers on securities, together with private and non-private financing, mergers and acquisitions, company governance, and regulatory compliance.

Knight additionally represented mining purchasers on property acquisition and growth, together with possibility and three way partnership agreements. Knight additionally has intensive expertise in flow-through financing. He has been ranked among the many Finest Legal professionals in Canada, from 2011-2021. Pure Sources Regulation, as a really useful lawyer in mining regulation. Knight was additionally seconded to the Ontario Securities Fee from 1983 to 1984.

Garnet Dawson – Director

Garnet Dawson is at present a director at GoldMining Inc. He’s a registered skilled geologist with 30 years of home and worldwide exploration expertise. He was the previous vice-president of exploration of EuroZinc Mining earlier than it merged with Lundin Mining in 2006. Earlier than becoming a member of EuroZinc, he consulted internationally and held a number of positions with Battle Mountain Canada, the British Columbia Geological Survey, and Esso Minerals Canada. He has a Bachelor of Science in geology from the College of Manitoba and a Grasp of Science in financial geology from the College of British Columbia.

Glen Dickson – Director

Glen Dickson has over 40 years of exploration and mining and operational expertise in a number of totally different international locations. In the course of the previous 30 years, he centered on gold exploration in all kinds of depositional environments. He served because the president, chief govt officer, and director of Cumberland Sources Restricted. With Cumberland, Dickson was instantly liable for the identification and development of two gold mining districts in Nunavut. In the present day mixed annual manufacturing from the 2 districts totals 750,000 ounces of gold, historic productions totals 4.5 mounces and present reserves complete 6 million ounces. The corporate was acquired by Agnico Eagle Mines. He served as chairman of the board and chief govt officer of Gold-Ore Sources. Throughout this time Gold-Ore acquired and restarted a gold mine in Northern Sweden. At present, the mine produces ~45,000 ounces every year. Gold-Ore was acquired by ElginMining. Dickson served as a director on a number of different corporations together with Atna Sources, BrazilianGold Company and Venerable Ventures. Dickson is at present president and CEO of Meliadine Gold, a non-public useful resource firm with mineral holdings in Nunavut.

Reagan Glazier – Director

Reagan Glazier obtained a Bachelor of Science in Geology from the College of Calgary in 2014. He has been lively within the mineral exploration trade in BC for the previous 10+ years and is at present the President and CEO of Pacific Bay Minerals.

Maurice Tagami – Director

Maurice Tagami served because the vice-president of mining operations and later as technical ambassador for Wheaton Treasured Metals from July 2012 to November 2022. He’s a metallurgical engineer from the College of British Columbia with over 40 years of expertise in mining and mineral processing. He was liable for sustaining partnerships with over 20 working mines and 13 growth initiatives from which Wheaton Treasured Metals. has metallic streaming agreements. Tagami at present serves on the board of Maple Gold Mines and Foran Mining Company because the lead unbiased director. Beforehand, he held the positions of president and CEO, with Keegan Sources and senior venture supervisor (Onca Puma Mission) with Canico Useful resource.

Vivienne Artz – Director

Vivienne Artz is the CEO of the FTSE Ladies Leaders Assessment, the UK’s business-led voluntary framework, supported by the federal government to enhance the illustration of girls on the boards and management groups of the FTSE 350 and 50 of the UK’s largest personal corporations. Over 20 years within the monetary companies sector. Beforehand managing director and chief privateness officer on the London Inventory Alternate Group, Refinitiv and Thomson Reuters, main the privateness workplace and overseeing world privateness technique and observe throughout 190 international locations. Artz was awarded an Officer of the British Empire within the Queen’s New 12 months’s Honours in 2021 for companies to monetary companies and gender variety.

Gordon Steblin – Chief Monetary Officer

Gordon Steblin obtained a Bachelor of Commerce diploma in 1983 from the College of British Columbia. In 1985, he turned an authorized common accountant. Steblin has over 20 years of economic expertise in junior mining and exploration. Steblin can be the chief monetary officer of Elysee Improvement and Arctic Hunter Power, each TSX Enterprise-listed corporations.