Freegold Drills 1.28 g/t Au over 49.3m in New Tamarack Zone at Golden Summit and 0.91 g/t Au Over 150.9m at Cleary
Massive Resource Expansion Underway as Freegold Secures $50 Million to Tackle Metallurgical Hurdles
The news release dated January 15, 2026, announces the discovery of a new mineralized zone, the "Tamarack Zone," located approximately 400 meters east of the existing Cleary Zone at the Golden Summit Project in Alaska. Drilling highlights include 1.28 g/t Au over 49.3m in the Tamarack Zone (Hole GS2536) and a significant broad intercept of 0.91 g/t Au over 150.9m in the Cleary Zone (Hole GS2532). The discovery extends the known mineralized footprint of the project. This follows the January 6, 2026, closing of a $50 million CAD financing, which was upsized due to demand.
The impact of this news is Material - Positive for the following reasons: - New Discovery: The Tamarack Zone discovery indicates that the 29.1 million ounce gold resource (Indicated and Inferred) is still growing. Finding a new zone 400m from the main deposit suggests the system is much larger than currently modeled. - Capital Strength: Closing a $50 million non-dilutive (in terms of warrants) financing at $1.30—significantly higher than 2024 financing levels—provides the company with one of the largest exploration "war chests" in the junior mining sector. - PFS De-risking: The company is moving toward a Pre-Feasibility Study (PFS) with a massive resource. The 2025 drilling program successfully completed 62 holes, which will be integrated into the upcoming resource update and engineering studies. - Metallurgical Validation: Historical news shows a jump in recovery expectations from 72% to over 90% using sulphide-oxidation methods. While more expensive, the grade and scale may now support the higher capital intensity of such a plant.
Freegold Ventures is focused on the Golden Summit Project in the Fairbanks Mining District, Alaska. The project is an intrusion-related gold system. - Flagship Project: Golden Summit. - Current Resource (July 2025): 17.2 Moz Indicated (1.24 g/t Au) and 11.9 Moz Inferred (1.04 g/t Au). - Infrastructure: Excellent; located near the city of Fairbanks, paved roads, and grid power. - Stage: Advanced Exploration / Moving to PFS.