Mining News: News Nuggets: Shorty Creek porphyry confirmed

Freegold Ventures Ltd. Sept. 8 provided results from the first hole of a 2016 drill program at the company’s Shorty Creek copper-gold project in Interior Alaska. Drilling commenced on Hill 1835, where drilling in 2015 cut 91.4 meters averaging 0.14 grams per metric tons gold, 7.02 g/t silver and 0.55 percent copper, or 0.71 percent copper-equivalent from a depth of 279 meters in hole SC 15-03. Collared about 125 meters southwest of SC 15-03, and in the center of a distinct magnetic high at Hill 1835, hole SC 16-01 cut 434.5 meters averaging 0.12 g/t gold, 7.46 g/t silver and 0.36 percent copper, or 0.57 percent copper-equivalent from the base of oxidation at 86.1 meters to the bottom of the hole at 520.6 meters. Within this broad intercept, a higher-grade interval of 207 meters grading 0.16 g/t gold, 9.6 g/t silver and 0.45 percent copper, or 0.73 percent copper-equivalent, was cut from 138.6 meters. The bottom 12 meters of the hole averaged 0.145 g/t gold, 9.67 g/t silver and 0.55 percent copper, or 0.82 percent copper-equivalent – indicating potential expansion of higher grade mineralization at depth. In addition to the significant copper-gold-silver mineralization, hole SC 16-01 cut 273 g/t tungsten over 434.5 meters, including 359 g/t tungsten over 207 meters. A total of four holes have been completed at Shorty Creek. Additional drilling is planned to further expand the known mineralization within the magnetic anomaly at Hill 1835, which covers an area measuring roughly 750 meters by 1,000 meters.

-Shane Lasley