VANCOUVER, Jan. 6, 2015 /CNW/ - Freegold Ventures
Limited (TSX: FVL, Frankfurt: FR4N) ("Freegold") is pleased
to provide an update on it's recently completed column testwork at
Golden Summit.
Further bottle roll test and column leach tests were undertaken
on the oxide component of the mineralization at Golden Summit over
the course of the last several months. The program was
conducted by McClelland Laboratories of Sparks, Nevada and was designed to augment the
previous extensive work conducted by SGS Laboratories in
Vancouver. Results of these tests will now be incorporated
into the Preliminary Economic Assessment (PEA) that is currently
underway. Freegold undertook the additional metallurgical work in
order to provide more comprehensive data to examine the potential
for an initial heap leach operation on the oxide component.
Results are extremely encouraging with gold extractions over
80% being achieved within 14 days on coarse crushed material
(80% -25 mm). The column test was permitted to run for 65
days and final extractions were 85% for gold. These results
compare very favourably with the earlier bottle roll test results
on coarse crushed material and provide additional confidence inline
with the Company's development plans. Sodium cyanide (NaCN)
consumption in the column test was reasonable at 0.69 kg/mt.
Optimization of cyanide dosing conditions in future test work
programs will focus on potential improvement in both kinetics and
cyanide consumption. Head grades of the oxide material were
1.0 g/t gold and 10 g/t silver respectively.
Located a 30 minute drive from Fairbanks with road, industrial scale power
and an experienced workforce nearby, the Golden Summit project
represents an excellent low risk development opportunity for
Freegold.
The Qualified Person for this release is Alvin Jackson, P.Geo – Vice President
Exploration and Development for the Company who has reviewed and
approved the contents of this press release.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of
gold projects in Alaska. In
addition to the Golden Summit Gold Project, the company has an
exploration agreement with option to lease the Vinasale Gold
project in central Alaska and a
100% lease interest on the Shorty Creek Copper –Gold- Molybdenum
Project also in Alaska.
Some statements in this news release contain forward-looking
information, including without limitation statements as to planned
expenditures and exploration programs. These statements address
future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include
without limitation the completion of planned expenditures, the
ability to complete exploration programs on schedule and the
success of exploration programs
SOURCE Freegold Ventures Limited