Announcement • Aug 27
Freegold Limited Reports Additional Drill Results from Its Golden Summit Program in Alaska
Freegold Limited reported additional drill results from its Golden Summit program in Alaska. The additional results reported below are part of Freegold's 2026 program at Golden Summit, intended to support a more clearly defined development scenario with a scalable approach. The program focuses on building resource confidence, advancing metallurgical and geotechnical inputs, and supporting an updated Mineral Resource Estimate for use in the targeted 2027 PFS. Tighter drill spacing is intended to confirm grade continuity and better define geological controls in key areas. With six rigs operating, Freegold is advancing drilling, metallurgical work and geotechnical programs in parallel. The geotechnical program includes field-based logging and rock-quality assessment, to be followed by laboratory testing of selected core samples to measure rock strength and support slope-stability and pit-design assumptions for the PFS. The drill results in this release support the ongoing and broader objective of advancing Golden Summit toward defined resource and project development milestones: Refining geological controls and drill density in key zones to support an updated Mineral Resource Estimate that incorporates 2026 drill program data for use in the targeted PFS. Testing grade continuity in the Dolphin, Cleary and WOW zones, while further evaluating the Tamarack Zone and the Cleary gap. Completing condemnation drilling to delineate the limits of mineralization, support starter-pit evaluation and help define areas suitable for future project infrastructure. Advancing metallurgical test work to support flowsheet design and geotechnical drilling to inform slope stability, pit design and PFS-level project definition. Freegold's metallurgical program is advancing key PFS inputs that can directly affect project economics, including recoveries, reagent use, energy requirements, equipment sizing, processing-facility capital intensity and related operating costs. No processing path has been selected at this stage. Given the size and variability of the deposit, Freegold intends to complete additional test work on samples from the 2025 and 2026 drill programs to further refine recovery and processing characteristics to support the selection of a preferred PFS flowsheet. The results reported below are part of several expected updates from the 2026 program and continue to support the updated Mineral Resource Estimate planned for the targeted 2027 PFS. They highlight broad mineralized continuity and locally higher-grade mineralization in priority areas, beginning with the Dolphin Area. Several holes from the condemnation drilling program are also reported. Results from the Dolphin Area continue to demonstrate mineralized continuity and locally higher-grade intervals within the broader trend. Mineralization continues to extend to the north and south, and additional drilling is planned to follow up on these results. GS2638 and GS2630 were collared on the northwest side of the Dolphin stock, near the north-south-trending Willow Creek topographic corridor, an area that remains of exploration interest. Both holes confirmed broad zones of mineralization. GS2638 intersected 143.7 m grading 3.59 g/t Au from 758.0 m. GS2630 intersected 523 m grading 0.75 g/t Au from 385 m to the end of the hole at 908 m, including several high-grade intervals. Mineralization remains open and widening (expanding) at depth and may indicate a deep-rooted mineralized source. GS2638 sampling highlights: 11.59 g/t Au over 1.9m from 119.0–120.9 m, associated with brecciated quartz-arsenopyrite-pyrite veins in a shear zone. 7.92 g/t Au over 3.0m from 464.0–467.0 m, associated with quartz-arsenopyrite-pyrite veins. 3.59 g/t Au over 143.7m from 759.9m. 141.3 g/t Au over 3.0m from 779.0–782.0 m, associated with quartz-arsenopyrite-pyrite veins containing visible gold and green clay. GS2630 sampling highlights: 16.63 g/t Au from 385.0–388.1 m, associated with a white quartz vein containing arsenopyrite, pyrite, jamesonite and sphalerite. 15.18 g/t Au from 448.8–454.8 m, associated with irregular quartz veins and quartz-arsenopyrite-pyrite veins. GS2626 and GS2623 were drilled in the northern part of the Dolphin Area to test the footwall block of the Tolovana Fault. GS2623 returned a broad interval of 134.4 m grading 1.12 g/t Au from 260 m. GS2629 sampling highlight: 10.39 g/t Au from 60.0–63.3 m, associated with a shear deformation zone containing brecciated quartz veins and semi-massive arsenopyrite-jamesonite-sphalerite. GS2638: 117.1–124.1 m, 7.0 m, 4.30 g/t Au; 230.0–257.0 m, 27.0 m, 0.86 g/t Au; 285.2–302.0 m, 16.8 m, 1.87 g/t Au; 425.0–503.0 m, 78.0 m, 0.71 g/t Au; 461.0–473.2 m, 12.0 m, 2.73 g/t Au; 547.2–596.0 m, 48.8 m, 0.79 g/t Au; 638.0–734.0 m, 96.0 m, 0.77 g/t Au; 758.0–901.7 m (EOH), 143.7 m, 3.59 g/t Au; 779.0–782.0 m, 3.0 m, 141.3 g/t Au. GS2630: 338–356 m, 18 m, 0.79 g/t Au; 385–419.2 m, 34.2 m, 2.29 g/t Au; 448.8–458.0 m, 9.2 m, 10.14 g/t Au; 506.0–534.4 m, 28.4 m, 0.87 g/t Au; 575.0–590.0 m, 15.0 m, 1.05 g/t Au; 623.0–637.7 m, 14.7 m, 1.61 g/t Au; 656.0–689.0 m, 33.0 m, 0.67 g/t Au; 831.4–844.9 m, 13.5 m, 1.39 g/t Au. GS2629: 55.1–63.3 m, 8.2 m, 4.78 g/t Au; 143.0–151.1 m, 8.1 m, 0.97 g/t Au; 175.7–182.0 m, 6.3 m, 0.98 g/t Au; 282.0–284.4 m, 2.4 m, 3.58 g/t Au. GS2626: 39.1–42.8 m, 3.7 m, 1.91 g/t Au; 75.3–84.9 m, 9.6 m, 1.17 g/t Au; 114.4–122.7 m, 8.3 m, 0.66 g/t Au. GS2623: 97.0–106.6 m, 9.6 m, 1.40 g/t Au; 178.8–181.9 m, 3.1 m, 9.58 g/t Au; 197.5–241.5 m, 44.0 m, 0.90 g/t Au; 260.0–394.4 m, 134.4 m, 1.12 g/t Au; 412.1–430.3 m, 18.2 m, 0.63 g/t Au; 561.7–565.7 m, 4.0 m, 1.10 g/t Au; 598.9–624.0 m, 25.1 m, 1.09 g/t Au. The widths refer to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization. The shallow Cleary Area holes were designed to define the northern limits of mineralization and support ongoing resource confidence.
