Freegold Ventures – Napkin Math – 2024.02.22

Our latest Napkin Math for Freegold Ventures. We have provided updates for the Saddle Zone at the Golden Summit Project.


Well we are back with an updated look at Freegold Ventures Golden Summit Project! Today we are covering drill results released 2024-02-22 for the Saddle Zone! These are the first results probing a new area of the property we have seen since Freegold Ventures big hit in 2020 kicked off a fresh wave of exploration at the Cleary and Dolphin Zones so we are taking a deeper dive today! This edition of Napkin Math will be focused on the Saddle Zone but if you are interested in our latest napkin math for the Dolphin and Cleary Zones you can find it HERE!

First Off - Where Is The Saddle Zone

Golden Summit it a large project so its important to keep in mind where things actually are. Below is the plan map for the project we look at here at Mining Explained. Purple dots represent drilling in the Dolphin and Cleary Zones of the Project while the Orange Dots represent drilling in the Saddle Zone. The Red Border represent the claim limits of the project, golden highlighting represents actively mined placer streams and the dashed golden lines are historically noted surface gold veins.

Laying between the intersection of two ridges and at the headwaters of 3 past producing placer streams on top of numerous veining the saddle zone certainly must have formed a tempting target.

Quick Note - Equivalent Grade

For those not familiar with equivalent gold grade it is a mining term used to express the content of gold in a sample when other metals are present. It is calculated by converting the value of other metals into their gold equivalents based on relative market values and expected recoveries.

This is the fist time we have used equivalent grades for the Golden Summit project but there was enough silver in this most recent set of drill results to make it worth out time.

For reference here at Mining Explained for all projects we cover we use the three year rolling average for price and recoveries of:
90% – Gold
80% – Silver
80% – Copper

Napkin Math - Freegold Ventures - Saddle Zone

Without further ado please find our latest Napkin Math for the Saddle Zone at Freegold Ventures Golden Summit Project. For our timeline we ran the numbers showing what the historic drilling completed back in 2011 and 2012 would have produced and our latest estimate which includes the most recently released holes. Needless to say results were solid and we look forward to what else the future may hold for the saddle zone.

This infographic is for Freegold Ventures Saddle Zone Deposit. The infographic shows numerous graphical statistics and information used to evaluate a junior mining companies ore deposit. Included are total oz contained, ox by cutoff grade, histogram of grades, and drillhole counts.
Click to Enlarge

Visuals - Freegold Ventures - Saddle Zone

A picture is worth a thousand words so we felt it was worth including a visual of the Saddle Zone.

3D View of Freegold Ventures Saddle Zone Exploration Drilling
Click to Expand - Most Recent Drilling Shown and Spheres and Historical Drilling as Transparent Cubes


We hope you have enjoyed this latest update!

We are still in the process of updating the format we use to present our Napkin Math. So please do reach out via our Contact Us page to let us know what you like, don’t like and any questions we may have not answered yet!

Thanks for reading and till next time,


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