07:22 AM EST, 01/21/2025 (MT Newswires) -- Freegold Ventures ( FGOVF ) whose shares rose around 5% on Monday, reported additional assay results from its 2024 drilling program at the Golden Summit Gold Project in Alaska.

The company on Tuesday said it completed 41 holes in early December, totaling 25,708 meters and that assays were reported for 29 of the holes.

FVL said that 2024 was pivotal, marked by a major resource update in September that increased both the total number of resource ounces and improved the overall resource grade. The company noted significant mineralization to depth West of Willow (WOW) and higher grade within the south-southwest trend. 26 holes were drilled in the WOW Zone to investigate multiple gold anomalies in soils.

Freegold ( FGOVF ) said the 2025 program will focus on testing the depth extent of the higher-grade zones discovered during the 2024 program and further exploring the mineralization to the west in the WOW Zone. The company said that hole GS2425, that successfully extended mineralization to depth, intersecting several zones with grades exceeding 1 g/t Au was terminated prematurely. Freegold ( FGOVF ) said this zone represents an "excellent follow-up opportunity" for the 2025 program.

The company is conducting comprehensive metallurgical, baseline environmental, cultural resource, and wetland studies, in addition to the drill program. Freegold ( FGOVF ) added that a sample quality control/quality assurance program has been in place throughout the program.

Shares of the company closed up $0.04 to $0.870 on Monday on the Toronto Stock Exchange.