Freegold Drills 1.54 g/t Au over 44m at Tamarack Drilling at Golden Summit
Multi-Million Ounce Scale Confirmed as Tamarack Discovery Grows, but Technical Complexity and CAPEX Risks Loom Large
The February 18, 2026, news release reports results from eight additional drill holes at the Golden Summit project in Alaska, specifically targeting the Tamarack, Dolphin, WOW, and Cleary areas. - Significant Intercepts: Hole GS2540 at the Tamarack Area returned 111.9m of 1.17 g/t Au, including a higher-grade core of 44m at 1.54 g/t Au. - Massive Widths: Hole GS2533 in the Dolphin Area intersected a staggering 525m of 0.74 g/t Au, highlighting the immense bulk-tonnage nature of the system. - High-Grade Hits: Hole GS2541 in the Dolphin Area hit 84.9m of 1.78 g/t Au, while hole GS2516 in the WOW Area encountered a narrow but ultra-high-grade vein of 3m at 120.26 g/t Au. - Operational Status: Drilling is scheduled to recommence in late February 2026 with a 50,000-meter program. Metallurgical work for the Pre-Feasibility Study (PFS) is ongoing.
This news is materially positive as it achieves three critical objectives for a project of this scale: - Resource Accretion: The Tamarack Area (discovered only in early 2026) continues to deliver grades (1.54 g/t) that are higher than the current Indicated resource grade (1.24 g/t). This suggests the potential for a higher-grade "starter" scenario which is vital for project economics. - Continuity and Scale: The 525-meter intercept in the Dolphin area confirms the vertical and lateral continuity of the mineralization, reducing the risk of "holes" in the block model for the upcoming PFS. - Grade "Sweeteners": The ultra-high-grade narrow intercepts (120 g/t) in the WOW area, while not representative of the whole deposit, provide evidence of high-grade structures that can significantly boost the average grade in a bulk-mining scenario. - Confirmation of Strategy: The results support the company's decision to pivot toward a more complex but higher-recovery processing flowsheet (oxidation) by proving there is enough gold to justify the capital expenditure.
Freegold Ventures is focused on the Golden Summit Project, located near Fairbanks, Alaska. - Flagship Project: Golden Summit is a multi-million ounce gold deposit with proximity to existing infrastructure (roads, power, labor). - Scale: Following the July 2025 update, the project hosts 17.2 Moz Indicated (1.24 g/t) and 11.9 Moz Inferred (1.04 g/t). This makes it one of the largest undeveloped gold resources in North America. - Development Stage: Currently in the Pre-Feasibility Study (PFS) stage, with completion expected in early 2027.