Freegold reviews Golden Summit program

Executive Summary

• Freegold Ventures reports continued drilling at Golden Summit with five rigs active, completing 37 holes (~24,000 m) and initiating five additional holes.
• Ongoing infill drilling aims to convert inferred resources (11.9 Moz Au) to indicated status ahead of the 2025 prefeasibility study (PFS).
• Metallurgical testwork shows high gold recoveries (>92 %) across three oxidation methods and >95 % recovery in flotation testing, supporting further flowsheet optimization and pilot‑plant planning.

Key Details

• Drilling Activity: 37 drill holes (~24,000 m) completed; five more holes currently underway; drilling to continue through mid‑December 2025, pause for winter, resume Feb 2026.
• Resource Upgrade Goal: Convert inferred resources (11.9 Moz Au at 1.04 g/t) to indicated status to be included in the upcoming PFS.
• Current Indicated Resource: 17.2 Moz Au at 1.24 g/t using a 0.5 % cut‑off and $2,490/oz gold price.
• Metallurgical Testing: Conducted at BaseMet Labs on a 1,500 kg composite from 12 holes; three oxidation methods evaluated: POX (≥92 % recovery), BIOX (≥91 % recovery), Albion (≥93 % recovery).
• Flotation Results: Locked‑cycle tests achieved >95 % gold recovery with minimal sulphide concentrate (<5 % of mass); tailings passed EPA TCLP limits.
• Environmental & Regulatory Work: Groundwater monitoring via vibrating wire piezometers, surface water sampling, mammal/habitat surveys, cultural resource assessments, wetland mapping, and waste testing—all compliant with EPA guidelines.
• Additional Exploration Activities: Geochemical sampling, geological mapping, and identification of new targets for future development.
• Qualified Person: Alvin Jackson, P.Geo., VP Exploration & Development, responsible for scientific/technical content.

Notable Quotes

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