Fremont Gold (TSXV:FRE) (“Fremont” or the “Company”) is pleased to announce that it has staked additional claims in the Gold Bar District, Eureka County Nevada:
- The Roberts Creek claim block comprises 132 mining claims in the Gold Bar District one km south of McEwen Mining Inc’s Gold Bar development project;
- The claim block covers a structurally permissive zone on a horst that strikes south from the McEwen’s Gold Bar development project. Based on gravity data, this horst is under shallow cover, is parallel to, and similar in shape and orientation to the horst which hosts the original Gold Bar deposit held by Fremont;
- Within the Roberts Creek claim block jasperoid occurs as outrop and abundant float. Jasperoid is often associated with Carlin-style deposits and was one of the vectors used to discover the original Gold Bar deposit;
- A recent Fremont ground magnetic survey at Roberts Creek highlights a magnetic low trough, which may indicate hydrothermal alteration;
- Three significant structural trends intersect at Roberts Creek: a north-northwest striking fault that transects McEwen’s Cabin Creek gold deposit (the Cabin Creek fault), a very prominent northeast fault/topographic lineament that transects the Mount Hope porphyry molybdenum deposit, and the magnetic low trough.
The acquisition of these claims brings Fremont’s total land holdings in the Gold Bar District to 5,348 ha. Fremont recently announced drill results of 25.9m @ 4.66 g/t Au (within 41.2m @ 3.08 g/t Au) at Gold Bar and 16.8m @ 1.9 g/t Au, at the nearby Gold Canyon project. See Fremont Gold news releases dated June 27, 2018 and July 25, 2018 respectively.
Figure 1: Roberts Creek location in relation to McEwen’s and Fremont’s properties
To view an enhanced version of Figure 1, please visit:
Dennis Moore, Fremont’s President and CEO explains, “Results of a recent ground magnetic survey conducted by Fremont at Roberts Creek delineates probable fault boundaries and magnetic low zones, the latter which may indicate hydrothermal alteration in a structurally permissive zone under shallow cover. The new frontier for gold discoveries within the basin and range of Nevada and Utah, is in the basins and under cover. The ranges have been fairly well prospected since the initial gold discoveries in the 1800s, while in the past 30 years most of the large, world-class discoveries were made under cover — starting with Pipeline and Sleeper in the 1980’s and more recently Barrick Gold Corporation’s 8M ounce Gold Rush deposit. Future discoveries will likely be revealed beneath gravel in the basins or under post-mineral volcanic rocks. Fremont management is at the leading edge of this understanding and very excited about the possibilities for discovery of new gold deposits under shallow cover in the Gold Bar District and elsewhere.”
A soil survey will be conducted to confirm structure interpretations and highlight drill targets.
On behalf of the Board of Directors,
About Fremont Gold Ltd.
Fremont holds exclusive rights to the Gold Bar-Gold Canyon and Hurricane Projects, located respectively in Eureka County and Lander County, Nevada. Fremont also holds rights to the North Carlin Project in Elko County and the Goldrun Project in the Adelaide mining district, Humboldt County, Nevada. The Company’s strategy is to conduct exploration leading to discovery on its existing projects using the collective exploration expertise of the management team. Further information regarding the Gold Bar, Gold Canyon, Hurricane, Goldrun and North Carlin Projects are available at www.sedar.com.
1McEwen Mining website: www.mcewenmining.com
2Internal report, Atlas Precious Metals, Mines, Dec 13, 1995, prepared by Pincock, Allen & Holt,
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This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s proposed use of proceeds. The word “intends” or other similar words and phrases are intended to identify forward-looking information. There is no guarantee that the Company’s planned drill program will proceed as stated. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.