Willow Creek Potential To Expand Resource Along Strike To The West

VANCOUVER - Freegold Ventures Limited reported on the 2023 drill program, including the first results from the 2023 drilling west of Willow Creek. Results are still pending for GS2332, GS2334, GS2335 – GS2337, additional holes, collared west of Willow Creek to test the westerly extensions of the existing resource.

Results confirmed the potential to further expand the resource along strike to the west within a 1.5 kilometre long gold-in-soil geochemical anomaly and the potential for further expansion drilling to increase the overall resource grade.

Hole GS2333 was the furthest southwest hole drilled in the 2023 program. Collared 200 metres west of previous drilling, outside the existing resource and within a 1.5 kilometre long gold in soil geochemical anomaly., the hole intersected 4.25 g/t Au over 67.1 metres from 438 to 505.1metres and bottomed in strong mineralization intersecting 4.09 g/t over 23.9 metres.

Hole GS2331 targeted the area to the north of the known historic veins, intersecting several zones of higher-grade mineralization, including 2.0 g/t over 11.5 metres from 276.6 metres to 288 metres and 1.41 g/t Au over 35.9 metres from 370.9m to 406.8 metres. Further drilling will be required to follow up on the higher-grade mineralization intersected in GS2331 and GS2333.

Holes GS2322, GS2321 and GS2320 were aimed at confirming the mineralization boundaries to the north of the existing resource in the Dolphin Zone. These holes intersected faulting/shearing and the bounding marble units to the north identified earlier in the season.

The current program is designed to test the boundaries, expand, and infill the current mineral resource estimate, which using a 0.45 g/ t Au cut-off and a $1,792 gold price is 12.01 million ounces at 0.92 g/t Au (407,544,000 tonnes indicated) and 7.7 million ounces at 0.85 g/t (282,303,000 tonnes inferred) which represent a significant increase from 2016 pit constrained resource.

The drill program conducted in 2023 has continued to intersect broad zones of mineralization with definitive zones of higher-grade mineralization. The mineralization style comprises discrete veins and stockwork accompanied by pervasive silification, which has been demonstrated to extend over a 1.5 kilometre strike length. Additionally, it is noteworthy that the mineralization continues to be intersected west of the Dolphin Zone and is coincident with a 1.5 km gold-in-soil anomaly.