Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
VANCOUVER, Dec. 13, 2011 /CNW/ – Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) (“Freegold“) is pleased to report the results of a NI43-101 compliant Mineral Resource estimate recently completed on the Golden Summit Project located near Fairbanks, Alaska. The resource estimate was completed by Giroux Consultants Ltd. of Vancouver, BC, Canada. The indicated and inferred resource using a 0.3 and 0.35 gram/tonne (g/t) cut-off is:
The resource estimate is based on 77 drill holes (11,802m) that were drilled into the mineralized Dolphin stock, which is a multi-phase, felsic to intermediate intrusion. The stock has been mapped on surface and is approximately 366 metres by 610 metres (1,200 by 2,000 ft) in area and elongate in an east-west direction. The resource was calculated using a block model with blocks measuring 10 by 10 by 5 metres in size that were populated using a combination of ordinary kriging and indicator kriging; blocks within the Dolphin mineralized solid were summed to arrive at the total tonnage and average grade.
This resource update based on 6,500 metres of diamond drilling carried out in the Phase 1 program has doubled the existing resource on the Dolphin Zone. The previous NI-43-101 resource using a 0.3 gm/t cut-off was 174,000 ounces (7,790,000 tonnes @ 0.695 gm/t) in the indicated category and 526,000 ounces (27,010,000 tonnes @ 0.606 gm/t) in the inferred category. Additional drilling is planned for the Dolphin Zone in early 2012.
