COMMENCES MAIDEN EXPLORATION PROGRAM AT COBB
Vancouver, British Columbia – August 17, 2021 – Fremont Gold Ltd. (FRE: TSXV; FRERF: OTCQB; FR2: FSE) (“Fremont” or the “Company”) is pleased to provide an update regarding exploration at the company’s Cobb Creek project in Elko County Nevada.
Highlights are as follows;
- The Company has staked an additional 89 federal lode claims on the northern and eastern sides of the Cobb Creek project increasing the size of the property area by approximately 30%
- The Cobb Creek project occurs at the northern end of the Independence trend, one of the most important gold belts in northern Nevada and contains a non-N43-101 compliant, historic resource of 160,000 ounces gold, named the McCall deposit1
- Concurrently the company has commenced its’ maiden exploration program at Cobb, comprising geological mapping, rock chip sampling, a new systematic soil geochemical survey and a ground magnetic survey
- The program is designed to discover new deposits in previously untested areas as well as expand the known mineralization at the McCall deposit
Cobb Creek Project
Cobb Creek is located directly on the Independence Trend which hosts the Jerritt Canyon and Big Springs mines, as well as the recently discovered Gravel Creek deposit (unclassified mineral inventory of 1.4M ounces Au and 21M ounces Ag)2. The property is 12 km northwest of the Gravel Creek-Wood Gulch couplet, a low-sulfidation epithermal deposit and carlin-style gold deposit, respectively.
Traditionally classified as a “mesothermal/orogenic” style gold deposit, Fremont management believe that siliceous vein and outcrop textures observed at Cobb support a Carlin or epithermal-style genesis;
Cobb Creek has not been drilled since 1992 and the vast majority of the historical drilling (over 140 drill holes) were shallow. Some of the better drill results include drill hole COBRC-3, which returned 15.3 metres of 2.86 g/t gold (from 13.7 metres to 29.0 metres), and COBRC-84, which returned 33.5 metres of 1.92 g/t gold.
Planned Exploration Program
Fremont Gold has started a four-phase exploration program at Cobb Creek. The first three phases are geologic mapping, rock chip sampling, a detailed ground magnetic survey and a comprehensive soil sampling program across the entire property. The soil survey will add to previous soil sampling results and will include multi-element trace element analyses as well as gold. The fourth phase will be a drilling program based on results of the first three phases.
Figure 1: Cobb Creek gold project location
Dr. Clay Newton, Fremont’s VP of exploration states, “The 2004 43-101 report on Cobb Creek repeats the older interpretation that the gold mineralization is orogenic, but suggests the possibility that it may be Tertiary Carlin-type. Earlier workers have not recognized, or least not commented on the strong epithermal alteration on the property. My leaning is that Cobb Creek is similar to the Wood Gulch-Gravel Creek couplet 12 km to the south, where within about 2 km of each other, there are both a Carlin-type gold deposit and a Miocene epithermal low-sulfidation gold-silver deposit. Cobb Creek has a good chance of also having both deposit types, perhaps in an overprinting relationship. There is also a possibility that the 160,000 ounce gold resource in the Vinini Fm may be the upper part of a Carlin-type system, with better things to come below in the Lower Plate Van Duzer carbonate unit.”
Figure 2: Structural interpretation and mineralized targets Cobb Creek area
Dr Newton continues, “Figure 2 is a regional view to show the relationship of the projected Gravel Creek epithermal corridor to the McCall resource. The epithermal corridor has been traced along the edge of a structural corridor from the 1.4 million ounce gold Gravel Creek epithermal deposit 12 km north, to the Cobb Creek North area that has just been staked. The relationship of the 160,000 ounce gold McCall resource southwest of the Cobb Creek North target is analogous to the relationship between the Carlin-type Wood Gulch deposit and Gravel Creek. Both Wood Gulch and Doby George are Carlin-type deposits in upper-plate clastic rocks. The McCall deposit may be the top of a larger Carlin-type system in the underlying lower-plate Van Duzer Limestone. Add to this the possibility of an adjacent and possibly overprinting Miocene epithermal precious metal deposit.”
The content of this news release was reviewed by Dennis Moore, Fremont’s President & CEO, a qualified person as defined by National Instrument 43-101.
Fremont’s mine-finding management team has assembled a portfolio of high-quality Nevada gold projects with the goal of making a new discovery. Fremont’s other projects include Griffon, North Carlin, and Hurricane.
On behalf of the Board of Directors,
President & CEO
Fremont Gold Ltd.
For further information, contact:
1 Pawlowski, M.R., 2004, Technical report on the Cobb Creek Property, McCall Area, Elko County, Nevada.
2 Muntean, J.L., Davis, D.A., and Ayling, B., 2017, The Nevada Mineral Industry 2015, Special Publication MI-2015, Nevada Bureau of Mines and Geology.
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Forward looking statements
Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will", "hope", "will be", "expected" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to the potential for the discovery of a Carlin-type deposit, and the amount of metres and holes to be drilled. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Actual results and future events could differ materially from those anticipated in such statements. Fremont undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.