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Providing coverage of Alaska and Northwest Canada's mineral industry
November 2017

Vol. 22, No. 48 Week of November 26, 2017

Mining News: Drills grow Shorty Creek porphyry

Freegold Ventures Ltd. Nov. 16 reported that the initial holes of its 2017 drill program at Shorty Creek have intercepted significant widths of copper-gold-silver, cobalt and tungsten mineralization, further confirming and expanding the Hill 1835 target. Since the 2015 discovery hole was drilled, Freegold has completed roughly 4,200 meters of drilling at Hill 1835. Hole SC 16-01, drilled last year at the property’s Hill 1835 target, cut 434.5 meters averaging 0.57 percent copper-equivalent, which accounts for the value of the copper, gold and silver. The bottom 12 meters of this deepest hole at Hill 1835 averaged 0.55 percent copper, 0.145 grams per metric ton gold and 9.67 g/t silver. In addition to the copper, gold and silver, the 2016 drilling also tapped significant tungsten in the form of wolframite. SC 16-01 cut 207 meters averaging 0.045 percent tungsten trioxide; and SC 16-02 cut 409.6 meters averaging 0.03 percent tungsten trioxide. This year, Freegold drilled several step out holes testing the extent of the porphyry target. Holes SC 17-01 and SC 17-02 were vertical step out holes located 100 and 200 meters SW of the 2016 drilling and intercepted copper, gold and silver with tungsten and cobalt mineralization over significant widths. Hole 17-01 cut 360 meters averaging 0.24 percent copper 0.07 g/t gold, 4.04 g/t silver, 100 parts per million cobalt and 0.03 tungsten trioxide. Hole 17-02 cut 408 meters averaging 0.27 percent copper 0.05 g/t gold, 4.97 g/t silver, 85 ppm cobalt and 0.05 percent tungsten trioxide. Holes SC 17-03 and SC 17-04 were drilled on the eastern edge of the magnetic high at Hill 1835. Hole SC 17-03, which was lost at a depth of 362.2 meters in strong copper mineralization due to mechanical difficulties, cut 105.2 meters averaging 0.27 percent copper, 0.05 g/t gold, 6.75 g/t silver, 114 ppm cobalt and 0.06 percent tungsten trioxide. Hole 17-04, which encountered significant fault material, cut 192 meters averaging 0.11 percent copper, 0.13 g/t gold, 1.48 g/t silver and 56 ppm cobalt. Two other holes drilled at Hill 1835 are pending. Hill 1835 is only one of the several magnetic highs identified at the expansive Shorty Creek property. An initial hole was drilled to test Steel Creek, one such large magnetic high target about 2,500 meters northeast of Hill 1835, assays are pending.

–SHANE LASLEY






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