Fremont Doubles Land Position at Griffon Gold Project
Fremont Doubles Land Position at Griffon Gold Project
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2020) -
Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE:
FR2) ("Fremont" or the "Company")
is pleased to announce that is has staked an additional 90 claims at the Griffon gold
project ("
Griffon
" or the "
Project
"), doubling the size of the Project area from 89 claims to 179 claims or approximately 15
square kilometres. The additional claims cover the projected extensions of soil and rock chip geochemical anomalies to the
north, south and west.
"Acquiring more ground at Griffon was always a priority for us," said Blaine Monaghan, CEO of Fremont Gold. "However, last
month was the earliest that we could effectively stake more ground at Griffon. I'm pleased that we were able to double our land
position through staking and am confident that we have captured all of the prospective areas of mineralization around the past
producing Griffon gold mine."
Fremont recently raised approximately CAD$1.5M (see news release dated February 14, 2020) for a drill campaign at Griffon,
which is expected to commence in June.
Griffon gold project
Griffon is a past-producing gold mine located at the southern end of the Cortez Trend, approximately 75 km southwest of Ely,
and is accessed via paved highway and Forest Service roads. Mineralization at Griffon is Carlin-type and is comparable to the
mineralization found at several deposits at the Kinross Bald Mountain Mine complex, approximately 70 km to the north.
Griffon was first drilled in 1988 and a limited amount of shallow pattern drilling (214 drill holes in total) focused on delineating the
Discovery Ridge and Hammer Ridge deposits, leaving the remainder of the property essentially untested.
From 1997-1999, Alta Gold Co. ("
Alta
") produced ~60,000 ounces of gold from Discovery Ridge and Hammer Ridge in an
oxide heap-leach operation. Alta reported a number of unmined drill intercepts to the southwest of Hammer Ridge, including drill
hole GR97-175 which returned 57.9 metres at 0.86 g/t gold, and proposed expanding Hammer Ridge before operations
ceased.
Griffon hosts numerous gravity, soil and stratigraphic drill targets. The Pilot Shale horizon - the primary gold host at Fiore Gold's
nearby Pan Mine - has not been adequately tested, and the Joana/Chainman transitional horizon, which hosts gold at Griffon,
may be concealed underneath and within the Blackrock fault. Lastly, there is also potential in and around the pits, as
demonstrated by drill hole GR97-175.
The fully funded drill program is expected to commence in June. Underexplored and last drilled in the 1990s, Griffon offers
multiple opportunities for the discovery of a Carlin-type gold deposit.
Qualified person
The content of this news release was reviewed by Dennis Moore, Fremont's President, a qualified person as defined by National
Instrument 43-101.
About Fremont
Fremont's mine-finding management team has assembled a portfolio of high-quality Nevada gold projects with the goal of
making a new discovery. The Company's flagship project is the past-producing Griffon gold project, located at the southern end
of the Cortez Trend. Fremont's other projects include Cobb Creek, North Carlin, Goldrun, and Hurricane.
On behalf of the Board of Directors,
"Blaine Monaghan"
Blaine Monaghan
CEO
Fremont Gold Ltd.
For further information, contact:
Corporate Information
Fremont Gold Ltd.
Blaine Monaghan, CEO
Telephone:
+1 604-676-5664
www.fremontgold.net
https://twitter.com/GoldFremont
https://www.linkedin.com/company/fremont-gold/
Investor Inquiries
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email:
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 the potential for the discovery of a Carlin-type deposits and the anticipated start
date of the drill program at Griffon. 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/55492