Freegold Announces 43-101 Resource Estimate for Vinasale Project, Alaska
VANCOUVER, March 31 /CNW/ --
www.freegoldventures.com
VANCOUVER, March 31 /CNW/ - Freegold Ventures Limited (TSX: FVL,
Frankfurt: FR4N)('Freegold') is pleased to report the results of a NI43-101 compliant Mineral
Resource estimate recently completed on the Vinasale Gold Project
located in southwest Alaska on which Freegold entered into an
Exploration Agreement with an Option to Lease the Vinasale Project from
Doyon Limited, an Alaskan Native Regional Corporation, in 2007. The
resource estimate was completed by Giroux Consultants Ltd. of
Vancouver, BC. Canada. Inferred resources are 37.3 million tonnes
averaging 1.11 g/t Au for 1,331,000 ounces of gold utilizing a cutoff
value of 0.5 grams/tonne (g/t) as a possible open pit cutoff.
A total of 72 drill holes containing 8,711 gold assays have been
completed on the project within three areas: the Central, Northeast and
South Zones. The highest density of drilling has been completed in the
Central Zone where 29 drill holes totaling 6,902 metres were used in
estimating the resource for the Central Zone. Gold assays were capped
at 22.0 -grams/tonne gold. Composites, 5 metres in length, were used
to model the grade continuity using semivariograms. Blocks measuring
10 by 10 by 5 metres were populated using Ordinary Kriging.
____________________________________________
| VINASALE INFERRED RESOURCE |
|____________________________________________|
|Au Cut-off| Tonnes | |
|__________|__________|______________________|
| (g/t) | (tonnes) | Au | Contained Au |
|__________|__________|_____|________________|
| | |(g/t)|kgs Au| ozs Au |
|__________|__________|_____|______|_________|
| 0.10|50,490,000| 0.91|45,740|1,471,000|
|__________|__________|_____|______|_________|
| 0.20|48,350,000| 0.94|45,400|1,460,000|
|__________|__________|_____|______|_________|
| 0.30|45,120,000| 0.99|44,620|1,435,000|
|__________|__________|_____|______|_________|
| 0.40|41,640,000| 1.04|43,390|1,395,000|
|__________|__________|_____|______|_________|
| 0.50|37,260,000| 1.11|41,400|1,331,000|
|__________|__________|_____|______|_________|
| 0.60|32,550,000| 1.19|38,830|1,248,000|
|__________|__________|_____|______|_________|
| 0.70|27,990,000| 1.28|35,860|1,153,000|
|__________|__________|_____|______|_________|
| 0.80|23,750,000| 1.38|32,680|1,051,000|
|__________|__________|_____|______|_________|
| 0.90|20,090,000| 1.47|29,590| 951,000|
|__________|__________|_____|______|_________|
| 1.00|17,070,000| 1.57|26,710| 859,000|
|__________|__________|_____|______|_________|
| 1.20|12,270,000| 1.75|21,470| 690,000|
|__________|__________|_____|______|_________|
| 1.40| 8,830,000| 1.93|17,020| 547,000|
|__________|__________|_____|______|_________|
| 1.60| 6,250,000| 2.11|13,180| 424,000|
|__________|__________|_____|______|_________|
| 1.80| 4,510,000| 2.27|10,230| 329,000|
|__________|__________|_____|______|_________|
| 2.00| 3,170,000| 2.43| 7,690| 247,000|
|__________|__________|_____|______|_________|
To date, mineralization in the Central Zone extends over a strike length
of 400 metres and remains open to the north, south and at depth. The
2011 exploration program will include a ground geophysical survey,
which is scheduled to commence in mid May and will be followed by a
drill program aimed at expanding the known resources.
The Qualified Person for this release is G.H. Giroux, M.A.Sc., P.Eng.,
who has reviewed and approved the contents of this press release.
The Inferred mineral resource estimate has been prepared in compliance
with the standards of NI 43-101.
Mr. Giroux acted as the Qualified Person, as defined in NI 43-101 and is
independent of the Company. The NI 43-101 report will be finalized and
filed on SEDAR within 45 days of the date of this news release.
ALS Chemex was used to analyze 836 core samples via fire assay analysis
for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid
digestion for the 2010 Freegold drill program. Quality control entailed
insertion of 27 blanks and 74 standards into the sample stream, at the
rate of approximately one QA/QC sample every tenth assay, yielding
approximately 12% of the total assays. On average all of the reported
standard and blank assay values were within an acceptable margin of
error.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold
projects in Alaska. In addition to the Golden Summit Gold Project, the
company holds a 100% in lease interest in the Rob Gold Project near the
Pogo Gold Mine in the Goodpaster Mining District of Alaska and has an
exploration agreement with option to lease the Vinasale Gold project in
central Alaska.
This press release contains forward-looking information. This
forward-looking information includes, or may be based upon, estimates,
forecasts, and statements as to management's expectations with respect
to, among other things, anticipated future financing. Forward-looking
information is based on the opinions and estimates of management at the
date the information is given, and is subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information. These factors include uncertainties
relating to the availability and timing of such financing and other
factors. The forward-looking information contained herein is given as
of the date hereof and the Company assumes no responsibility to update
or revise such information to reflect new events or circumstances,
except as required by law.
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Kristina Walcott-President and CEO
Telephone: 1.604.662.7307
jkw@freegoldventures.com