Fremont Discovers Gold-in-Soil Anomalies at Roberts Creek, Nevada; Exploration Update
Fremont Discovers Gold-in-Soil Anomalies at Roberts
Creek, Nevada; Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2019) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink:
USTDF) ("
Fremont
" or the "
Company
") is pleased to announce that it has discovered several gold-in-soils anomalies that
coincide with intersecting multiple faults at the Roberts Creek project, located within the Gold Bar district, Eureka County,
Nevada.
Roberts Creek consists of 170 unpatented mining claims, covering approximately 1,400 hectares directly south of McEwen
Mining's Gold Bar project. Figure 1 shows the location of Fremont's claim blocks (purple) in relation to McEwen Mining's Gold
Bar project areas (blue).
"We are very encouraged by the recent magnetic and soil survey results at Roberts Creek," said Clay Newton, Fremont's Vice
President of Exploration. "The geophysical and geochemical anomalies coincide with the intersections of multiple faults
projected from the range. The location of these anomalies at the intersection of multiple faults, and within sight of satellite gold
deposits in the range, is reminiscent of Pipeline."
Figure 1.
Roberts Creek in a regional geologic and property framework
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Roberts Creek is located on shallow pediment immediately south of the Roberts Mountains, on a gravity high
intersected by multiple probable faults projected from the range;
Fremont completed a ground magnetic survey late last year (see September 12, 2018, news release) which outlines
prospective linear magnetic low zones that coincide with the projected fault intersections on the west side of the project
area. Magnetic low areas often reflect "magnetite destruction" caused by acidic mineralizing fluids;
The recent soil survey has returned anomalous gold and pathfinder elements defining anomalies in the fault intersection
area on the west side of the project area and also along Roberts Creek on the east side of the project area (see Figure
2).
The soil anomaly on the east side follows along Roberts Creek, which is probably controlled by a NNE fault. The NNE
fault intersects a NE-trending fault that projects out of McEwen's Gold Bar South resource area into the range. This is an
excellent structural trap for mineralization and represents a compelling drill target.
Figure 2. Gold in soils in relation to projected faults from the range and Roberts Creek
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Exploration update
Fremont has completed the reverse circulation drill program at the Gold Bar project (see the February 6, 2019, news release)
and the samples are currently being prepared for shipping. The results will be reported as soon as they have been received and
approved. Due to extreme winter weather conditions in northern Nevada, the Company has elected not to proceed with the
planned 500-metre diamond drill program at Gold Canyon at this time (see the February 6, 2019, news release). Fremont
believes that this is a prudent decision not only from a health and safety standpoint but also from a budgetary perspective. The
Company is actively monitoring the conditions at Gold Canyon and will provide investors with further updates regarding its
drilling plans at Gold Canyon.
Background of the Gold Bar District
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.
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.
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.
Description of methodology
Soil samples were taken at 120-metre intervals along E-W lines 300 metres apart. The samples were analyzed by the ionic
leach method of ALS Global analytical laboratory in Vancouver, BC, Canada.
The data presented here were smoothed by using
a 5-point moving average along the soil lines and gridded by a kriging method.
Qualified person
The content of this news release was reviewed by Maury C. Newton, III, Fremont's V.P. Exploration, a qualified person as
defined by National Instrument 43-101.
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.
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, Dec 13, 1995, prepared by Pincock, Allen & Holt,
2
McEwen Mining website:
www.mcewenmining.com
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 plans to drill Gold Canyon.
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.
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