Drilling Underway at Fremont's Gold Bar Project in Nevada
Drilling Underway at Fremont's Gold Bar Project in
Nevada
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2019) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink:
USTDF) ("
Fremont
" or the "
Company
") is pleased to announce that a 1,000 metre reverse circulation drill program is
underway at the Company's Gold Bar project, located in the Gold Bar District, Eureka County, Nevada.
Gold Bar was exploited by Atlas Precious Metals Corp. from 1986-1994 and produced 286,354 ounces of gold
(1
)
. Soil
sampling by Fremont has identified several geochemical anomalies to the southeast of the historic Gold Bar mine, in areas not
previously drilled. Fremont plans to drill test several of these anomalies, which may represent an extension to the historic Gold
Bar mine (see Figure 1 and the October 30, 2018, news release).
Gold Bar and Gold Canyon Projects
Fremont's Gold Bar and Gold Canyon projects are both former mines in the Gold Bar District, Eureka County, Nevada, an active
mining district within the Battle Mountain-Eureka Trend. The district contains several Carlin-style sediment-hosted gold deposits,
including McEwen Mining Inc.'s ("
McEwen
") Gold Bar project, which is scheduled to begin production in Q1 2019.
Fremont's Gold Bar and Gold Canyon projects are adjacent (west) and immediately north of McEwen's Gold Bar project. While
McEwen's project and Fremont's project share the same name, the historic Gold Bar mine is held by Fremont. McEwen's project
comprises four of the five satellite pits to the historic Gold Bar mine, whereas Fremont controls the remaining satellite pit, Gold
Canyon (see Figure 2).
Fremont's Gold Bar project encompasses the historic Gold Bar mine, which produced 286,354 ounces of gold from 1986 to
1994
(
1
)
, and the Millsite deposit, which hosts a historic resource of 147,000 ounces of gold (1.62 Mt @ 2.57 g/t gold)
(
1
,
2
)
.
Millsite is believed to be a faulted offset of the historic Gold Bar mine and is located to the northwest of the open pit. Fremont
recently completed a soil sampling program based on a new structural interpretation and identified coincident gold and mercury
geochemical anomalies to the southeast of the historic Gold Bar mine. This new interpretation and data suggest that gold
mineralization related to the historic Gold Bar mine may extend to the southeast.
Gold Canyon is adjacent to and directly northwest of McEwen's project, approximately 800 metres from McEwen's Gold Ridge
deposit. Gold Canyon produced approximately 41,000 ounces of gold from 1990-1994
(
1
)
and a stockpile of previously mined
ore still exists at site.
Figure 1: Permitted Drill Holes and Mercury Soil Anomalies to the Southeast of Historic Gold Bar Mine
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3169/42674_0500a4a25434097b_002full.jpg
Figure 2: The Gold Bar District
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3169/42674_0500a4a25434097b_003full.jpg
About Fremont Gold
Fremont's mine-finding management team has assembled a portfolio of high-quality gold projects in Nevada with the goal of
making a new discovery. Fremont's Gold Bar and Gold Canyon are past producing gold mines adjacent to McEwen's Gold Bar
project, where mine construction is underway. Other projects include North Carlin, Goldrun, Hurricane, and Roberts Creek. We
are aligned with our shareholders: Insiders own approximately 20% of Fremont.
The content of this news release was reviewed by Dennis Moore, Fremont's President, a qualified person as defined by National
Instrument 43-101.
On behalf of the Board of Directors,
"Blaine Monaghan"
CEO
Telephone:
+1 604-676-5664
Email:
www.fremontgold.net
1
Internal report, Atlas Precious Metals, Mines, December 13, 1995, prepared by Pincock, Allen & Holt
2
The Company has not verified these historical resources and is not treating these historical estimates as current mineral
resources
Neither the TSX Venture Exchange nor 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.
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 statements and information regarding the start of drilling at Gold Bar by the end
of January, and Gold Canyon soon thereafter, and the amount and type of drilling.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/42674