08:41 AM EDT, 09/04/2025 (MT Newswires) -- Freegold Ventures Limited ( FGOVF ) , which gained near 8% yesterday, on Thursday reported results from the first five drill holes at Golden Summit which represents all assays received.

In a statement it said the 2025 drilling program aims to upgrade inferred mineral resources to indicated resources through targeted infill drilling, geotechnical drilling, and metallurgical test holes.

Among highlights, Freegold ( FGOVF ) said WOW Zone continues to demonstrate higher grade potential: at GS2502 this includes 4.28 g/t Au over 28.7m and 4.20 g/t Au over 9m; and at S2505, 2.31 g/t Au over 65.4m.

On its 2025 program, FVL noted drilling is underway with four rigs; inferred resources will be converted into indicated and there will be further exploration drilling and geotechnical drilling; a fifth rig will commence drilling mid-September, while 29 holes (18,361m) were completed to date.

FVL said ongoing metallurgical work, focusing on flowsheet optionality with sulphide oxidation, is a "key part of our strategy to maximize the potential of the resource", and it flagged commencement of a Pre-Feasibility Study (PFS).