SALMON, Idaho, Jan. 12, 2021 /CNW/ – Freeman Gold Corp. (CSE: FMAN) (FSE: 3WU) (“Freeman“, “Freeman Gold” or the “Company“) is pleased to provide assay results of core from four of 34 diamond drill holes on Freeman Gold’s 100% owned Lemhi Gold Project located in Idaho. The objective of the 2020 Phase 1 drill program was designed to confirm historical mineralization and allow the use of over 355 historical drill holes in a maiden National Instrument 43-101 compliant resource estimate. The drill program focused on infill and step-out drilling within the known mineralized body to increase confidence and maximize the potential resource.
All four holes intersected high-grade shallow oxide gold. Selected highlighted results from these first holes are 3.3 g/t Au over 25m, including 5.4 g/t Au over 7m (FG20-001C); 3.4 g/t Au over 51.6m, including 14 g/t Au over 10m (FG20-002C); 3.2 g/t Au over 14.6m (FG20-003C); and 1.8 g/t Au over 92m, including 8.7 g/t Au over 7.7m and 15.1 g/t Au over 4.3m (FG20-006C). Gold mineralization extends to at least 200 meters and is open at depth. Of note, the high-grade zones lie within broader lower grade mineralized envelopes, such as 1.1 g/t over 189.1 metres (FG20-006C; Table 1). Drill holes reported in this press release cover an area of 150 by 50 metres of the Lemhi deposit.
Will Randall, President and CEO, commented, “These initial results clearly demonstrate the high-grade nature of the Lemhi gold project, including project enhancing thick shallow high-grade oxide gold zones. This is a great start to the drill campaign confirming historically defined mineralization as well as providing a more comprehensive understanding of the gold mineralization and its controls.”
Geologically, the Lemhi Gold Project lies within the Idaho-Montana porphyry belt, a northeast-trending alignment of metallic ore deposits and mines related to granitic porphyry intrusions. These extend north-easterly across Idaho and are related to the Trans-Challis fault system, a broad (20-30 km-wide) system of en-echelon northeast-trending structures extending from Boise Basin more than 270 km into Montana. At Lemhi, gold mineralization is hosted in Mesoproterozoic quartzites and phyllites within a series of relatively flat-lying lodes consisting of quartz veins, quartz stockwork and breccias. Mineralized lodes are associated with low angle faults, folding and shear zone(s). The mineralized zones have varying amounts of sulphides (pyrite, chalcopyrite, bornite, molybdenum, and occasionally arsenopyrite) where free gold is common. Gold mineralization at Lemhi is open at depth and on strike.
All drill core and rock samples are sent to ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada, an independent and fully accredited laboratory (ISO 9001:2008) for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy (select drill holes). Freeman Gold has a regimented Quality Assurance, Quality Control (“QA/QC”) program where at least 10% duplicates, blanks and standards are inserted into each sample shipment.
Core photos and drill sections can be found at www.freemangoldcorp.com. Drill holes are not analyzed in order but as shipments were logged in at the laboratory. Results from the remaining 30 drill holes are pending.
The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., VP Exploration for the Company and a Qualified Person as defined by the National Instrument 43-101 (“NI 43-101“).
About the Company
Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the “Lemhi Project“). The Lemhi Project comprises 30 square kilometers of highly prospective land. The mineralization at the Lemhi Project consists of shallow, near surface primarily oxide gold mineralization that has been identified over 355 drill holes and is open at depth and in multiple directions. The Company is completing an initial Phase 1 diamond drill program for a maiden NI 43-101 compliant resource estimate.
On Behalf of the Company
President & CEO
Forward-Looking Statements: This press release contains “forward–looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
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SOURCE Freeman Gold Corp.