04:13 PM EDT, 04/09/2024 (MT Newswires) -- Freegold Ventures ( FGOVF ) on Tuesday released details for the 2024 exploration program at its Golden Summit Project in Alaska, which it expects to begin "shortly".

The 2024 program is expected to test the potential for higher-grade mineralization closer to surface that may improve the overall project economics with the potential delineation of shallower higher-grade material. Drilling is expected to commence in mid-April, with two drills initially.

Further metallurgical test work will also be completed during the 2024 program aimed at enhancing Golden Summit Project's overall economics. Results from the ongoing metallurgical work are expected to be reported later this quarter. Although Golden Summit already hosts an extremely large resource, the 2024 program will focus on optimizing the project economics before completing an economic study.

In addition to drill testing and metallurgical work, the 2024 program will include further baseline, cultural and wetland delineation surveys.

Results remain pending for the 2023 drill program holes GS2336 and GS2337, with both holes drilled in the western portion of the current resource. Once available, the 2023 drill program results will then be incorporated into an updated mineral resource estimate, the company said.

Freegold ( FGOVF ) shares closed up C$0.01 to C$0.49 on the Toronto Stock Exchange.