-- Freegold Ventures (FVL.TO) said Monday that 2026 drill program for its Golden Summit project in Alaska is well underway, as the company progresses towards a pre-feasibility study.
Five drill rigs are operating and one additional rig is on site, due to begin drilling next month, Freegold said. Eleven holes have been completed, and an additional five holes are in progress. The ~50,000 m campaign is focused on infill drilling to strengthen grade control and confidence in higher-grade corridors.
Metallurgical work also continues to support multiple potential development pathways, with recovery rates exceeding 90% using sulphide-oxidizing techniques, a statement said.
Freegold has appointed Maureen Marks as vice president, engineering and Paul Jago as exploration manager, as it advances toward the upcoming pre-feasibility study for the Golden Summit project.
"Golden Summit is demonstrating the scale, continuity, and quality required to support a highly compelling development opportunity. With our largest drill program to date underway-~50,000 metres with multiple rigs operating-and metallurgical work advancing, we are positioning the project for multiple development pathways. Key upcoming catalysts include ongoing drill results, continued metallurgical test work updates, and steady progress toward delivery of the Pre-Feasibility Study, which we believe will be transformational for the project and the company," said chief executive Kristina Walcott.
Freegold shares closed up $0.03, to $1.26, on Friday on the Toronto Stock Exchange.