Vancouver, British Columbia – October 25, 2017 – Fremont Gold Ltd. (TSX.V: FRE) (“Fremont” or the “Company”) is pleased to announce that it has received permission from the Bureau of Land Management to carry out a program of trenching at the Hurricane property in Lander County, northern Nevada. A local contractor has been engaged and work will begin at the end of this week with a minimum of 1,600m of mechanized trenching planned, and expected to last until mid-November 2017.
The Hurricane project is located on the Cortez gold trend in northern Nevada, approximately 14km northwest along strike from Barrick Gold’s Pipeline & Cortez mines which have total historical and current resources of approximately 32M oz, and collectively produced 1.06M oz Au in 20161. Hurricane is also located 3km west of Barrick Gold’s undeveloped Hilltop deposit.
Hurricane was partially tested by Pegasus in 1986-1987 through a program of shallow RC drilling. Nineteen of 35 holes intersected near-surface gold mineralization including: 16.8m at 2.86 g/t, 12.2m at 2.32 g/t, 15.2m at 1.65 g/t and 3.1m at 6.91g/t Au. Previous work has defined a 750m X 400m NW-SE trending mineralized area which is elongated parallel to the Cortez trend. The zone is open to both the southeast and northwest. Historical trench results from the same period returned several gold-bearing intervals including 15.2m at 2.6 g/t within a larger zone of 45.7m at 1.2 g/t Au2.
Potential for defining new mineralization exists at depth and along strike.
The Company plans to expand the previously trenched area in order to get a better understanding of structural controls on mineralization and confirm the historical results, prior to drilling. Results from sampling are expected within four weeks from completion of the trenching program.
Dennis Moore, the Company’s President and CEO, and a Qualified Person as defined in NI 43-101, has reviewed and approved the technical information in this press release.
- Barrick Gold Corp website and corporate presentations
- 43-101 Technical Report on Hurricane property, dated June 19, 2017, figure 4, available at www.sedar.com
For further information, please contact:
President & Chief Executive Officer
Fremont Gold Ltd.
#1500 – 409 Granville Street, Vancouver
Telephone: (778) 772-9892
Neither the TSX Venture Exchange, not its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include permitting, availability of drill rigs and contractors, market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.