06:53 AM EST, 11/11/2024 (MT Newswires) -- Freegold Ventures Limited ( FGOVF ) earlier Monday announced recent developments from its drilling program in 2024, highlighting four specific holes that were drilled to facilitate additional metallurgical testing.

Among highlights, the company said it intersected 3.62 G/T au over 42 metres and 1.23 G/T au over 170.7 metres at Golden Summit.

A statement noted holes were "strategically designed to collect representative material from the deposit while improving infill drilling efforts". It said at BaseMet Labs in Kamloops, BC, a comprehensive suite of metallurgical testing is currently underway and will also focus on attaining comminution characteristics over primary lithologies and alteration at Golden Summit. FVL noted test work conducted earlier this year showed an average recovery of 77% using gravity and CIL. However, it said, flotation and oxidation are expected to increase recoveries to over 90%. It added the program will include further test work with additional data from these 2024 drill holes to facilitate future trade-off studies. This testing is expected to take several months to complete.

Freegold Ventures ( FGOVF ) was down $0.03 or 3.3% at $0.88 on Friday.