Fremont GOLD Ltd. Acquires 3,250 Hectare Prospective Property Package ON the Carlin Trend
FREMONT GOLD LTD. ACQUIRES 3,250 HECTARE PROSPECTIVE
PROPERTY PACKAGE ON THE CARLIN TREND
Vancouver, British Columbia – October 30, 2017 – Fremont Gold Ltd. (TSX.V: FRE)
(“Fremont” or the “Company ”) is pleased to announce that the company has recently
staked a significant land position comprising 3,250 ha in the northern part of the Carlin
trend which is home to Barrick Gold Corp’s Goldstrike mine complex which has Proven
and Probable Reserves of 70.7Mt @ 3.55g/t Au for 8.1Moz, and the North and South
Carlin complexes of Newmont Mining which collectively have Proven and Probable
Reserves of 295.1Mt @ 1.59g/t Au for 15Moz of gold1.
Highlights are as follows:
• Fremont has acquired two properties named Alkali ( 318 claims comprising 2664
ha) and Coyote (70 claims comprising 586 ha) along the NW extension of the
Carlin trend, which has historic production of approximately 88M oz of gold2.
• The Coyote claim block is located 2 km north of the Rossi mine
(Barrick/Meridian), which had a resource of 0.97Mt @ 16.46g/t gold in 2007 1.
Rossi is the most northerly deposit currently known along the Carlin trend.
• The larger Alkali claim block is located NW of Coyote and is approximately 4km
NE of the Hollister Mine of Klondex Mines Ltd, which has a m easured and
indicated resource of 0.43Mt @ 17.4g/t AuEq (gold equivalent) and an inferred
resource of 0.18Mt @ 15.3g/t AuEq. There is evidence of a NE structural control
at Hollister which extends through the Alkali claim block.
Figure 1. Location map
Both the Alkali and Coyote properties occur along the same structural trend that hosts the
Carlin-type gold deposits, owned by Barrick Gold Corp and Newmont Mining Corp , and
include the Carlin, Goldstrike, Meikle, Bootstrap, Dee and Rossi mines, which lie to the
south east of Fremont’s ground. Barrick’s Goldstrike complex produced 1.1Moz in 2016
and Newmont’s North and South Carlin complexes produced a total of 0.94Moz in 20161.
The nearest currently producing mine is Barrick Gold Corp and Premier Gold Mines
Ltd’s, South Arturo, four km south of the Rossi mine which has a reserve of 0.4M oz of
gold at 5.6 g/t gold4.
The Alkali claim block occupies the intersection of the prolific Carlin Trend and an
important northeast trending structural corridor that aligns epithermal mineralization at
Jarbidge to the northeast, the Ivanhoe district (includes the Hollister mine) in the center,
and Goldbanks to the southwest. Vice President of Exploration Dr. Clay Newton
explains, “ This important northeast-trending structure controlled mineralization at
Tuscarora in Eocene time and at Jarbidge, Ivanhoe and Goldbanks in Miocene time. The
Ivanhoe and Jarbidge districts both lie above magnetic highs that may be related to
Miocene intrusive bodies. An aeromagnetic high beneath Fremont’s Alkali claim block is
suggestive of such an intrusive body , indicating the possibility for both Miocene
epithermal-style mineralization and Eocene Carlin-type deposits.
Figure 2. Local geology and magnetic high in relation to Fremont’s new claim blocks
The Coyote claim block is located at the projected intersectio n of a N-S structure
extending north from Rossi with NW -trending faults. Surface geology is upper -plate
Ordovician Vining Formation, which is likely to be underlain by the Roberts Mountain
thrust and lower plate Paleozo ic carbonate rocks, the common hosts of Carlin trend
deposits. Therefore, the Coyote area is prospective for Carlin-type deposits at depth as
well as shear-zone hosted deposits in the siliceous upper-plate rocks.”
Dennis Moore, President & CEO stated , “Our team in Nevada has done an excellent job
in acquiring this strategically located land package on the northern extension of the
Carlin trend which appears to have received very little previous exploration work. This is
surprising given that the Carlin trend is one of the most prolific gold mining centers in the
western hemisphere having produced 88 Moz of gold between 1965 and 2016.”
Fremont is planning a program of detailed mapping and ground geophysics on both the
Alkali and Coyote blocks, aimed at identifying drill targets.
M.C. Newton, the Company’s Vice President of Exploration, and a Qualified Person as
defined in NI 43-101, has reviewed and approved the technical information in this press
release.
1. Barrick Gold Corp and Newmont Mining Corp websites and corporate presentations
2. Muntean, J.L. 2016. Overview - The Nevada Mineral Industry 2014 in Nevada Bureau of Mines and Geology Special Publication MI -2014, Mackay School of Earth
Sciences and Engineering, College of Science, University of Nevada, Reno, Nevada, USA, p 3-12
3. Klondex Mines website: www.klondexmines.com
4. Premier Gold Mines Ltd. website
About Fremont Gold Ltd.
Fremont holds exclusive leasing rights to the Hurricane and Gold Bar Projects, located respectively in
Lander County and Eureka County , Nevada. Fremont also owns the Goldrun Project , in the Adelaide
mining district, in Humboldt County, Nevada . The Company's strategy is to conduct exploration on its
existing projects and to build a quality portfolio of gold projects in Nevada using the collective
exploration expertise of the new management team. Further information regarding the Hurricane Project
and Goldrun Project are described in the filing statement of the Company dated May 29, 2017, available
at www.sedar.com.
For further information, please contact:
Dennis Moore
President and Chief Executive Officer
Fremont Gold Ltd.
#1500 – 409 Granville Street, Vancouver
Telephone: (778) 772-9892
Telephone: +351-9250-62196
Email: [email protected]
Neither the TSX Venture Exchange, not 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.
This news release may include forward-looking statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to be considered forward looking. Although
the Company believes the expectations expressed in such forward -looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in forward -looking statements. Factors that could cause
actual results to differ materially from th ese forward-looking statements include permitting, availability
of drill rigs and contractors, market prices, exploration successes, continued availability of capital and
financing, and general economic, market or business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation t o update any forward -looking statements except as
required under the applicable laws.