09:03 AM EDT, 09/10/2024 (MT Newswires) -- Freegold Ventures ( FGOVF ) reported Tuesday an updated resource estimate for the Golden Summit project in Alaska.

The company said the project hosts indicated resources of 12.1 million ounces at 1.08 grams per tonne (g/t) gold, up 8% and 9%, respectively, from February 2023 estimates.

Inferred resources stood at 10.3 million ounces grading 1.04 g/t gold, up 45% and 13%, respectively.

Freegold ( FGOVF ) said its 2024 drill program is ongoing with two drills operating. Additional assay results are pending.

The company's share price fell 4.5% yesterday to $0.85 on the TSX.