Freegold Ventures Limited (TSX: FVL, OTC: FGOVF) (OTCQX: FGOVF) is happy to be a project update. The drilling on Golden Summit is steadily ahead, with five drilling platforms that are currently active on location. The focus for this year is aimed at infill drills to upgrade derivatives to the indicated status and an essential step for the upcoming pre-healability study (PFS). Since derived resources cannot be included in the PFS, this work is crucial for the progress of the project.
2025 Program
- The drilling continues with five drilling platforms
- Conversion of derivatives in indicated and further exploration drilling and geotechnical drilling.
- 37 holes (completed so far ~ 24,000m completed: 5 reported holes (~ 3030m)
- Walking metallurgical work, aimed at Flowsheet -Optionality with sulfide oxidation, is an important part of our strategy to maximize the potential of the source.
- Start of pre-healability study (PFS)
The focus is also on defining the boundaries of mineralization in the Dolphin/Cleary area, and the execution of further exploration drilling and the completion of essential geotechnical drill holes.
Drill progress and timeline
To date, a total of 37 drill holes, compared to ~ 24,000 meters, have been completed. Moreover, five drill holes are currently underway. Assay results are being treated for a considerable number of holes. Drilling activities are planned to continue until mid -December, after which the program will pause for the winter and resume February 2026 . The results of the drilling of 2025 will be included in a revised estimate of the mineral resources, which will be used for the upcoming pre-Halleability study (PFS).
Resource improvement and pre-healability study preparation
In addition to efforts to upgrade the resource basis by a combination of infill and geotechnical drilling, additional geochemical and metallurgical tests are also performed. Preparation work for the PFS also includes:
- Installation of vibrating wire pietzometers (VWPs) in drill holes for groundwater surveillance
- Collection of surface water samples
- Organizing mammal and habitat investigations to draw up baseline environmental data
- Performing cultural resources assessments, including paleontological studies, for assessment by the State Historic Preservation Office (SHPO) and federal agencies, and the development of mitigation plans if necessary
- Maping of Wetlands, where mitigation strategies are formulated where necessary
- Continuous geological mapping and sampling to identify new exploration goals for future development
Metallurgical test
Metallurgical tests are currently underway at Basemet Labs in Kamloops, BC . A master composed sample, with a weight of more than 1500 kilograms and derived from twelve drill holes, forms the basis for this work. As part of the PFS, various assessment studies are planned, including a comparison of the extra advantages of further sulfide oxidation with a simpler gravity cile current diagram.
Optimization of oxidation process
During the current phase of metallurgical tests, a sulfide concentrate is produced to make optimization of oxidation processes possible. Three commercially available oxidation methods, all of which have demonstrated effectiveness with Golden Summit materials, are evaluated:
- Print oxidation (Pox): to date, more than 92% to date in test work.
- Biox: to date, more than 91% to date in test work.
- Albion Process ™: to date, more than 93% have been achieved to date in test work.
Fixed residues arising from these oxidation processes are subject to environmental characterization and waste tests in accordance with EPA guidelines. The toxicity characteristic lecture procedure (TCLP) was applied to all residues, with percolate levels for metals that remained under the regulating limits.
Flotation test results and environmental assessment
Flotation tests continue for the Master Composite. Initial closed-cycle tests have demonstrated the recovery percentages of the gold of more than 95%, with the help of gravity and cleaner flotation with the sulfide concentrate that is less than 5% of the total mass, so that the volume that further oxidation must be minimized. These results support the construction of a small pilot factory in Basemet to produce a considerable amount of concentrate for upcoming oxidation optimization studies. These studies will be underway in the coming months.
Flotation -Residues of this process have also been passed on the EPA TCLP procedure 1311, where all percolate concentrations for metals fall under maximum permitted limits, which confirms compliance with the environment. Further research is underway to better understand and to characterize the environmental impact of all flow sheet products and residues.
Additional project information
Golden Summit currently houses a indicated primary mineral source: 17.2 MoZ at 1.24 g/t AU and a derivative primary mineral source: 11.9 moz at 1.04 g/t au, with a number of 0.5 and a golden price of $ 2,490 .
A plan map with details about the locations of drill holes – both completed and in progress can be found here:
https://freegoldventures.com/site/assets/files/6287/nr_2025_drilling_v2_20251003.pngg
The qualified person responsible for the scientific and technical information in this update is Alvin Jackson P.Geo., Vice -president of exploration and development for Freegold.
About Freegold Ventures Limited
Freegold Ventures Limited is a TSX-Genten company aimed at mineral exploration in Down .
Pay attention to future -oriented statements
This update contains future-oriented statements, including, but not limited to, information about planned expenses, exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report and other plans for the future. Such explanations include known and unknown risks, uncertainties and other factors that can ensure that the actual results differ substantially from those expressed or implicit. These factors include, but are not limited to, the completion of planned editions, the possibility to complete exploration programs on schedule and the success of those programs. For an extensive discussion of risk factors, consult the annual FreeGold information form for the year ending on 2024-12-31, available on www.sedar.com .
Source Freegold Ventures Limited
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