Fremont Announces Detailed Mapping and Additional Soil Geochemistry Results from Urasar Mineral District, Armenia
Fremont Announces Detailed Mapping and Additional Soil
Geochemistry Results from Urasar Mineral District, Armenia
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF)
(FSE: FR2) ("Fremont" or the "Company) is pleased to announce the results of detailed geological and structural
mapping, as well as an expanded geochemical soil survey at the Company's Urasar Mineral District exploration permit in
northern Armenia. This work underscores a major expansion in both the geological understanding and the mineral
potential of the area.
Figure 1. Copper soil geochemistry at Urasar
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/224367_279196d004bb7adf_002full.jpg
Recent Mapping Observations
The Company engaged senior consulting geologist L.J. Karr to conduct detailed geological mapping and surface rock chip
sampling in mineralized zones within the Urasar District. Mr. Karr stated, "The 2024 fieldwork reveals that the mineralized
system is larger than previously believed -- and our work has identified numerous high-quality drill targets indicative of
both epithermal gold and porphyry copper-style mineralization."
Key Findings from the Mapping Efforts Include:
Yellow River Area: Hosts high sulfidation alteration extending over 4 km, characterized by vuggy silica,
hydrothermally altered white clays, and mineralized veins. These features are consistent with an advanced argillic
cap overlying a potential porphyry copper system. Alteration, geochemical, and magnetic data indicate the
system's potential scale could be larger than initially thought. It includes the Copper Creek and Golden Vein
prospects and hosts approximately 10 historic adits as well as a 1960 Soviet drill hole which bottomed in 25m @
1.67% Cu (see Company news release dated March 1, 2024).
Black River Area: Identified as an epithermal precious metal system (high-sulfidation style) associated with
dacite intrusives. Geophysical data and geochemical results suggest additional mineralization potential along
strike, offering further exploration opportunities.
Brick House Zone: Located in the eastern part of the district, this area hosts gold and base metal soil anomalies
as well as base metal sulfide mineralization observed in the creeks. It appears to be an intermediate-sulfidation
epithermal vein system but the full the extent and characterization is yet to be determined. The ground mag data
and particularly recent soil geochemistry results, indicate that this mineralized area could be much larger than
previously assumed (See Figures 1 and 2).
Figure 2. Urasar ground mag data showing mineralized zones discussed in text
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/224367_279196d004bb7adf_003full.jpg
Figure 3. Historic mineralized zones (yellow ovals) ̶ Yellow River on left, Black River center-east
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/224367_279196d004bb7adf_004full.jpg
Expanded Urasar Geochemical Soil Survey
Fremont has completed an expanded geochemical soil survey, collecting 691 additional C-horizon soil samples from
previously unsampled northern and eastern portions of the license, bringing the total to 1,435 samples across the 15 km-
long district (see Figure 4). The survey was conducted on a 200m x 100m grid and analyzed for gold and 36 other metallic
and pathfinder elements. Laboratory analysis was conducted by ALS Laboratories near Bucharest, Romania, using a 30g
fire assay method for gold and standard ICP spectroscopy (Inductively Coupled Plasma) for all other elements. Quality
assurance/quality control (QA/QC) comprised a mix of standards, duplicates and blanks inserted every 20 samples.
As seen in Figures 1 and 5, the copper anomalies generally correlate with the gold anomalies but exhibit a more coherent
distribution across three distinct zones in the west, center, and east of the permit area. The most prominent copper-gold
anomaly spans over 5 km in the western zone, an area of intense historic exploration with multiple collapsed adits and
one historic drill hole (see Figures 1 and 3). Recent mapping has revealed mineralized veins and extensive advanced
argillic alteration, indicating strong exploration potential.
In the far eastern portion of the license, the recent geochemical survey has significantly expanded the copper/base metal
and gold anomalies revealed in the previous survey (Figure 1). The eastern gold-base metal anomaly covers a 2.5 by 2
km area, located just east of the Brick House mineralized zone. This newly identified zone, previously unexplored by
Soviet or historic workers, presents a fresh, very prospective exploration target.
CEO comments
CEO Joel Sutherland remarked, "The Company has two properties in Armenia, Vardenis and Urasar that continue to
surprise in terms of exceeding expectations. The recent results confirm our belief that Urasar is a district-scale, multi-
target system with significant potential for both gold and copper porphyry mineralization. We are optimistic that we are on
the verge of a major discovery."
Figure 4. 2024 soil geochemical sampling points (light blue); previous 2023 survey (dark blue)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/224367_279196d004bb7adf_005full.jpg
Figure 5. Gold in C-horizon soil samples at Urasar
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/224367_279196d004bb7adf_006full.jpg
Historical Context and Exploration Outlook
The Urasar district was last explored by Soviet teams in the 1950s and 1960s, identifying three mineralized zones and
four anomalous areas along a crustal-scale fault system that hosts other significant deposits in the country. This historic
work was compiled in 2008 to calculate a non 43-101 compliant resource of over 850,000 ounces of gold in the C1, C2
and P* Russian resource categories [1] in two separate areas (see Company news release dated October 10, 2023).
Fremont's work corroborates Soviet findings, while also indicating that the mineralization system is larger, extending
across a 14 km-long structure.
Fremont is now preparing for a follow-up drill program to test the priority targets identified in the latest surveys. Drilling will
commence in the beginning of October.
About Fremont Gold
The Company's mine-finding management team has a track record of creating shareholder value. Current exploration
efforts are centered on two key properties: Urasar and Vardenis, both of which have shown encouraging results and
significant potential for tier one mineral discoveries in the Central Tethyan Mineral Belt in Armenia. The Tethyan Belt is one
of the world's most prolific gold, copper and polymetallic mineral belts, yet the Armenian portion of the belt is vastly
underexplored.
Qualified person
The content of this news release was reviewed by Dennis Moore, Fremont's President, and interim Chairman, a qualified
person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
Joel Sutherland
CEO
For further information, contact:
www.fremontgold.net
https://twitter.com/GoldFremont
https://www.linkedin.com/company/fremont-gold/
Neither 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
This news release contains forward-looking statements. All statements other than statements of historical fact included in
this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events could differ materially from those
anticipated in such statements including, without limitation, statements regarding future exploration programs at Urasar.
Important factors that could cause actual results to differ materially from the Company's expectations including the risks
detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned not to
place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made
as of the date of this news release and the Company will update or revise publicly any of the included forward-looking
statements only as expressly required by Canadian securities law.
[1] A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve and Fremont is not
treating the historical estimate as a current mineral resource or mineral reserve. The historic estimate cannot be relied on for the purpose of calculating
an updated resource as most of the data was collected during the Soviet era over 60 years ago, and the exact location of the drill holes and drill core is
unknown. *C1 and C2 are roughly equivalent to CIM's (Canadian Institute of Mining Metallurgy and Petroleum) "indicated" category, while P is roughly
equivalent to CIM's "inferred" category.
SOURCE: Hayasa Metals Inc.