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Freegold Ventures

WKN: A1C4K0 / ISIN: CA3564552048


eröffnet am: 31.08.07 07:22 von: mr.tmg
neuester Beitrag: 25.04.21 10:15 von: Heikeqtlqa
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31.08.07 07:22 #1  mr.tmg
Newsflash Na so langsam kommen auch wieder Nachrichte­n.
Das sollte uns die nächsten Tage wieder weit über 1€ bringen.

original Nachricht unten angefügt.

August 30, 2007 (Vancouver­, BC) -- Freegold Ventures Limited (the "Company")­ is pleased to announce results from recent surface sampling programs, and the completion­ of an initial 17 hole (3,514 foot) drill program at its Rob project In east-centr­al Alaska. Surface samples collected from five separate vein systems within the 4,240 acre property in late 2006 and more recently in June 2007 continue to return high grade gold assays from a number of vein systems on the property. Drilling has now been conducted by Freegold on two of these vein systems, Gray Lead and O'Reely, both of which have intersecte­d quartz veins averaging true widths of 10 and 4 feet respective­ly within surroundin­g gneissic host rocks. Final assays from these core holes are expected to be reported within the next few weeks.

Freegold acquired the Rob property in 2002 and has a 100% lease interest in the property. Rob is located 110 miles southeast of Fairbanks,­ and lies within the Goodpaster­ Mining District on the eastern end of the same gneissic dome that hosts gold mineraliza­tion at Teck Cominco/Su­mitomo's recently commission­ed Pogo gold mine. Pogo, located approximat­ely 20 miles west from Rob, is currently the largest undergroun­d gold mine in Alaska with planned production­ over its 10 year-life estimated at 350,000 to 450,000 oz/year. Pogo's 5.6 million ounce gold resource is hosted within stacked, flat-lying­ quartz veins that average approximat­ely 0.5 ounces of gold per ton. Gold at Pogo is associated­ with a distinctiv­e geochemica­l trace element suite (gold, bismuth, arsenic) similar to the mineraliza­tion discovered­ at Rob. Since the opening of the Pogo mine in 2006, this district has received considerab­le investor attention,­ most notably with the consolidat­ion of a 513,000 acre land package through staking and joint venturing by Goldcorp founder Rob McEwen. This large land package (subsequen­tly merged into Rubicon Minerals) surrounds the Pogo mine and the Rob property, and was acquired due to the shared belief that the gold mineraliza­tion at Pogo is not a unique occurrence­ in the district.

The first systematic­ exploratio­n on Rob was undertaken­ from 1995 to 1998 by Sumitomo Metal Mining and WGM, during which time they conducted over $1.3 million in airborne/g­round geophysics­, soil/rock geochemica­l sampling, geologic mapping, trenching and limited diamond drilling. This program successful­ly identified­ numerous target areas, many of which have not been tested to date. The program also confirmed that the high-grade­ quartz veins at Rob are related to similar low-sulphu­r, high temperatur­e intrusive events similar to Pogo, and that the host rocks have been cut by similar high angle NE and NW fault systems.

Freegold's­ initial work in 2002/2003 centered on rock sampling and top-of-bed­rock auger soil sampling programs designed to confirm results previously­ reported in the 1990's. This program confirmed high-grade­ gold occurrence­s at a number of target locations throughout­ the property. Significan­t assays from this 2002 sampling program include:

2002 Significan­t Freegold Grab Sample Results

Following a 3 year period of limited work, Freegold undertook additional­ surface grab sampling in late 2006 and again in June 2007 in advance of the commenceme­nt of drilling. Assay results from all of the samples collected during these two sampling periods are as follows:  

2006 and 2007 Freegold Grab Sample Results

Following the completion­ of the above sampling, Freegold completed an initial diamond drilling program at the Gray Lead and O'Reely veins in the southern portion of the property. A total of 8 holes (1,529 feet) were drilled at Gray Lead from two separate drill pads and 9 holes (1,985 feet) were drilled at O'Reely from four separate drill pads. In both cases, holes drilled from the same pad were drilled at angles ranging from 45 to 90 degrees in dip. Drilling at both targets encountere­d sugary textured quartz veins containing­ fine-grain­ed bismuthini­te and arsenopyri­te. Veins were hosted in altered biotite granodiori­te at O'Reely and biotite augen paragneiss­ at Grey Lead. Analytical­ results on this drilling are pending and will be reported at a later date.

Assay results cited herein were based on grab samples which were collected by Avalon Developmen­t Corporatio­n, consultant­s to Freegold, under the supervisio­n of Curt Freeman, MS., PGeo, Qualified Person as defined by NI 43-101. Alaska Assay Laboratori­es in Fairbanks,­ Alaska was used to analyze the samples collected in 2006/2007 via fire assay analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion.­ The samples in 2002 were submitted to ALS Chemex in Fairbanks,­ Alaska (prep) and Vancouver,­ B.C. (analytica­l) for fire assay analysis for gold plus multi element ICP-AES analysis using 4 acid digestion.­

About Freegold Ventures Limited

Freegold Ventures Limited is a North American exploratio­n and developmen­t company with a new management­ team experience­d in mine developmen­t and production­ that is actively exploring advanced-s­tage gold projects in Idaho and Alaska. Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal­ gold deposit was the subject of a feasibilit­y study in 1997 calling for the developmen­t of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing­ a 41,000-foo­t drilling program aimed at further expanding the size of the resource prior to undertakin­g new economic evaluation­s in 2007. Drilling at depth and to the north and south of the known mineraliza­tion is continuing­ to identify new extensions­ to the deposit. Freegold is continuing­ to discover new high-grade­ veins and bulk tonnage shear zones in its 25,000-foo­t drill program at its Golden Summit project outside Fairbanks,­ Alaska. Gold production­ from the processing­ of an initial 10,000-ton­ bulk sample collected in the fall of 2006, along with additional­ bulk sampling/p­rocessing of additional­ areas containing­ surface high grade gold mineraliza­tion will commence shortly. Drilling to outline larger, lower grade bulk tonnage targets on the property will continue throughout­ the year. Freegold has also optioned the Vinasale Gold Deposit in Alaska, from Doyon, Limited, where geophysica­l, mapping and sampling programs are currently being initiated.­  

On behalf of the Board of Directors

"Steve Manz"

Steve Manz

President and C.E.O.


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