Freegold Ventures’ Golden Summit project in central Alaska. Credit: Freegold Ventures
Freegold Ventures’ (TSX: FVL) shares soared to a five-year high on Thursday after a resource update for the company’s Golden Summit project in Alaska lifted the contained indicated metal by 42% to 17.2 million ounces.
The update gives the project in central Alaska 431.94 million indicated tonnes grading 1.24 grams gold per tonne, a 15% increase in grade over the previous estimate from September 2024, Freegold said on Thursday. Inferred resources now total 357.61 million tonnes at 1.04 grams gold, while contained gold increases by 16% to 11.9 million ounces.
Golden Summit is about 30 km northeast of Fairbanks and 6 km north of Kinross Gold’s (TSX: K; NYSE: KGC) Fort Knox mine.
“[The update] highlights the potential of Golden Summit and emphasizes the need for perseverance in some projects,” Freegold…
