Fremont Identifies Widespread Alteration at Cobb Creek
Fremont Identifies Widespread Alteration at
Cobb Creek
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2021) -
Fremont Gold Ltd. (TSXV:
FRE) (OTCQB: FRERF) (FSE: FR2) ("Fremont" or the "Company")
is pleased to provide an
update regarding exploration at the Company's Cobb Creek project in Elko County Nevada.
Highlights are as follows:
The Cobb Creek project occurs at the northern end of the Independence trend, one of the most
important gold belts in northern Nevada, and contains a non-N43-101 compliant, historical
resource of 160,000 ounces of gold, named the McCall deposit.
1
Fremont's recent structural and alteration mapping at Cobb Creek reveals widespread epithermal
or high-level Carlin-style alteration, including wide zones of jasperoid-silica alteration and
pervasive brecciation, which were previously unmapped or unrecognized, and most importantly,
untested by drilling.
These zones occur on the northeast and southeast portions of the 3,648 ha Cobb Creek claim
block, within northwest and northeast striking structural corridors which in part intersect under
volcanic cover, and define new untested target areas.
Recent expanded ground magnetic surveys reveal volcanic cover that masks the magnetic
response of potential prospective host rocks below the volcanic rocks.
An expanded geochemical
soil sampling program over the Cobb Creek area has also recently been completed.
Results are
pending.
Figure 1. Cobb Creek Location
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Regional Background
Major gold deposits in Nevada are located within well-defined mineralized structural "trends".
Cobb
Creek is hosted within the Independence trend which includes the Jerritt Canyon, Big Springs, Wood
Gulch and Gravel Creek gold deposits.
Fremont VP of exploration, Dr. Clay Newton, explains, "Figure 2 is a regional view to show the
relationship of the projected Gravel Creek epithermal corridor to the McCall resource.
The epithermal
corridor has been traced along a structural zone from the 1.4 million ounce gold Gravel Creek epithermal
gold deposit, 12 km north, to the Cobb North area which was staked earlier this year. The relationship of
the 160,000 ounce McCall gold resource is analogous to the relationship between the Carlin-type Wood
Gulch deposit and Gravel Creek epithermal deposit, which form a couplet.
Similarly, Fremont's McCall
deposit may be the top of a larger Carlin-type system with the possibility of an adjacent and overprinting
classic epithermal deposit to the east."
Figure 2. Structural interpretation of Cobb Creek area in relation to nearby deposits
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Recent work
Doctor Newton, continues, "Recently identified prominent linear zones of pervasive jasperoid
silicification, and quartz veining appear to be epithermal in character.
This silicification and veining are
developed in both upper plate and lower plate lithologies, and are possibly part of an epithermal vein
system or the top of a Carlin-type system.
These altered and silicified structural corridors at Cobb Creek
strike northeast and southeast of the historical McCall gold deposit, and are in part, under volcanic cover
(see Figure 3). These newly identified areas of alteration and silicification have never been drilled, and
constitute exciting new drill targets."
Figure 3. Mapped siliceous alteration with potential drill targets
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Final North Carlin drill results
Final results have been returned for three deep reconnaissance RC holes which were drilled within the
Coyote and Alkali claim blocks, part of Fremont's North Carlin project.
Coyote is located 6 km north of,
and along-strike of Nevada Gold Mines/Premier Gold Mines' South Arturo mine and 12 km northwest of
Nevada Gold Mines' Goldstrike mine, which hosts 11.1 million ounces gold in the measured and
indicated category.
The Alkali claim block is a further one to eight kilometers along strike to the
northwest and approximately 8 kms northeast of the Hollister mine.
RC holes NR-1, NR-2 and NR-3 were drilled to 2,950, 1,995 and 1,320 feet respectively. Drill cuttings
were composited into 25 foot intervals and selected zones were subsequently assayed for gold at the
individual five foot intervals.
All three holes returned significant intervals of anomalous gold and
pathfinder elements in zones containing sulfides and altered dykes, but did not penetrate the more
prospective "Lower Plate" lithologies due RC drilling depth limitations.
The presence of anomalous gold and pathfinder elements in upper plate rocks directly on trend of some
of the largest Carlin-style gold deposits in the world suggests that the drilling may have intersected the
weakly mineralized halo of a concealed Carlin-type gold deposit
Fremont is currently evaluating all of the recently acquired drill data in order to plan further exploration.
Figure 4. North Carlin project showing nearby mines and drill hole locations
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Qualified person
The content of this news release was reviewed by Dennis Moore, Fremont's President and CEO, 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. Fremont's other projects include Griffon, North Carlin,
and Hurricane.
On behalf of the Board of Directors,
Dennis Moore
President & CEO
Fremont Gold Ltd.
For further information, contact:
Corporate Information
Fremont Gold Ltd.
Dennis Moore
Telephone:
+351 9250 62196
www.fremontgold.net
https://twitter.com/GoldFremont
https://www.linkedin.com/company/fremont-gold/
Email:
1
Pawlowski, M.R., 2004, Technical report on the Cobb Creek Property, McCall Area, Elko County, Nevada.
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 deposit, and the amount of metres and holes to be drilled. 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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