Fremont Defines Drill Targets at Urasar Copper-Gold Project in Armenia; Commences Drill Program
Fremont Defines Drill Targets at Urasar
Copper-Gold Project in Armenia; Commences
Drill Program
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Fremont Gold Ltd. (TSXV: FRE)
(OTCQB: FRERF) (FSE: FR20) ("
Fremont
" or the "
Company
") is pleased to announce that it has
begun its maiden 1,600m drill program at Urasar, Armenia which is expected to be completed within 8
weeks.
To date, nine priority drill targets have been identified at the Copper Creek, Black River, and Brick
House prospects, as illustrated in
Figure 1
below.
Fremont expects additional priority targets to emerge
as results from recently-collected geochemical surface samples are processed.
Fremont has contracted
AT Group
, a drilling company based in Yerevan, Armenia which has worked
with the Company in the past. The program will utilize an
Atlas Copco CS14 drill rig
, which is capable
of drilling to a depth of up to 1,200 meters. The rig was successfully mobilized to site and began drilling
operations this past weekend.
This drill program represents a materially significant phase of exploration for Fremont as it seeks to
reveal the mineral potential of the Urasar project.
Figure 1. Urasar ground mag data showing mineralized zones and drilling targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/225784_6c6b7baac478ea3e_002full.jpg
CEO comments
CEO Joel Sutherland states,
"Fremont's investors are anticipating a successful Urasar drill program
that demonstrates the mineralization seen on surface continues to depth.
We believe that the District
comprises a series of mineralized bodies along a major east-west trending crustal-scale lineament.
The detailed geological and geophysical work undertaken earlier this season have enabled us to
define numerous first-order drill targets as well as a score of secondary drill targets beyond the nine
selected to date. We believe Urasar has the potential to develop into a district-scale series of
mineralized systems, with the goal of discovering one or more tier-one epithermal gold and/or copper
porphyry deposits."
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
Fremont Gold Ltd.
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.
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