Griffon and Announces Plans to Drill North Carlin Project; Webinar October 8
Fremont Intersects 50.3m @ 1.05 g/t Gold at
Griffon and Announces Plans to Drill North
Carlin Project; Webinar October 8
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2020) -
Fremont Gold Ltd. (TSXV: FRE)
(OTCQB:
FRERF)
(
FSE:
FR2) ("Fremont" or the "Company")
is pleased to announce that the
Company has received nearly all the remaining assay results from the recently completed phase 1 drill
program at the past producing Griffon gold project, located at the southern end of the Cortez Trend,
Nevada (see Figure 1).
Highlights are as follows:
Fremont completed 2,275 metres in nine drill holes at Griffon with drill hole GF-20-3 intersecting
50.3 metres of 1.05 grams/tonne ("g/t") gold starting at 29 metres depth
. Several additional
drill sites have been permitted;
Fremont is also pleased to announce its plans to drill the North Carlin project, which is located on
the northern end of the prolific Carlin Trend (see Figure 2). North Carlin is 6 km north of and on-
strike of Nevada Gold Mines/Premier Gold Mines' South Arturo mine, where recent drilling
intersected 39.6 metres of 17.11 g/t gold
1
, and 12 km northwest of Nevada Gold Mines' Goldstrike
mine, which hosts 11.1 million ounces gold (M & I)
2
. The Carlin Trend is one of the richest gold
mining districts in the world having produced over 84 million ounces of gold since the early 1960s
3
;
Fremont will be hosting a webinar on Thursday, October 8, at 11am EDT to discuss both the
Griffon drill results and its plans to drill North Carlin.
"This was the first drill program to be completed at Griffon since it was in production in the late 1990s,"
said Blaine Monaghan, CEO of Fremont. "A lot more work needs to be done and now that we have the
results, we can begin planning the next phase of exploration. In the meantime, while that planning is
underway, Fremont is readying to launch a fall drill program at its 100% owned North Carlin gold
project which is located at the northern end of the prolific Carlin Trend in Nevada."
Strategically located at the northern end of the Carlin Trend, North Carlin is over 42km
2
in size and is
approximately 6 km north of and on-strike of Nevada Gold Mines/Premier Gold Mines' South Arturo
mine, where recent drilling intersected 39.6 metres of 17.11 grams per tonne gold
1
, and 12 km
northwest of Nevada Gold Mines' Goldstrike mine, which hosts 11.1 million ounces gold in the measured
and indicated category
2
. The Carlin Trend is one of the richest gold mining districts in the world. Over 84
million ounces of gold have been produced since the early 1960s
3
and Nevada Gold Mines' Carlin
Complex hosts 30 million ounces of gold in the measured and indicated category
2
.
Situated in the right geological setting for the discovery of a major gold deposit, Fremont staked the
claims comprising North Carlin (the Alkali, Coyote and Rossi claims) when the ground becomes
available in 2017. Since then, the Company has developed several never before drilled targets based on
soil geochemistry, gravity and geomagnetic surveys, and the projection of faults that control gold
mineralization in the Carlin Trend. Further information regarding North Carlin and the fall drill program will
be provided by the Company in the coming days.
Webinar
Fremont will be hosting a webinar on Thursday, October 8, at 11am EDT to discuss both the Griffon drill
results and its plans to drill North Carlin. Please click on the link below to register for the webinar.
https://attendee.gotowebinar.com/register/3884393571498431760?source=co
Discussion of Griffon drill results
Griffon has a large halo of hydrothermal alteration at surface and locally strong argillic alteration and
silicification at depth. However, alteration and gold are tightly controlled by numerous faults.
Fremont's
first phase of drilling tested targets across the length of the project area, targeting soil geochemical
anomalies and mapped faults. Holes GF20-2 and GF20-3 returned significant grades of gold.
Hole GF20-3 was drilled to the southwest of the Hammer Ridge pit, in a mineralized area identified by
Alta Gold Co. It yielded 50.3 m of 1.05 g/t gold in argillically altered and variably decalcified limestone
and shale of the Mississippian Joana Limestone. Drilling to the south of Hammer Ridge pit encountered
very strong argillic alteration but the strongly altered rocks did not return anomalous gold. Drilling the
projected faults that control gold mineralization in the Hammer Ridge pit will be a top priority in the next
phase of exploration at Griffon. Assay results for the other holes can be viewed by clicking on the link
below (see Figure 3 for drill site locations).
https://fremontgold.net/projects/2020-griffon-drill-results/
Figure 1: Griffon gold project location
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3169/65235_af3d12e3d4ec099d_002full.jpg
Figure 2: The Carlin Trend
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3169/65235_af3d12e3d4ec099d_003full.jpg
Figure 3: Drill site locations at Griffon
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3169/65235_af3d12e3d4ec099d_004full.jpg
QA/QC statement by QP
Drilling was conducted by reverse circulation methods by Envirotech Drilling LLC of Winnemucca,
Nevada. Sample intervals were every 1.52 metres (five feet). Care was taken to flush the bottom of the
hole thoroughly with water after each sample run. Field duplicates were taken at the rotary splitter about
every 30
th
sample. Samples were assigned a number and no interval numbers were placed on the bags.
Sample numbers were completely randomized before submittal to the lab and the samples were laid out
and analyzed by the lab as per the randomized list. Gold standards and blanks were inserted by Fremont
into the randomized sample stream around every 30th sample. The lab also frequently inserted its own
internal standards and blanks. All standards, blanks and duplicates were checked by the QP and found
to be consistent. Examination of the analytical returns in the randomized order indicated no carry-over
contamination between samples by the lab. Samples were analyzed by 30-50g fire assay/ICP finish by
ALS USA Inc of Reno, Nevada.
Qualified person
The content of this news release was reviewed by Dennis Moore, Fremont's President, a P.G. and a
qualified person as defined by National Instrument 43-101.
1
Premier Gold Mines Limited news release dated September 21, 2020
2
Carlin Complex Technical Report (March 2020)
3
Muntean, J.L. 2016. Nevada Bureau of Mines and Geology Special Publication MI-2014
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, 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 a fall drill
program at North Carlin, drilling the projected faults that control gold mineralization in the Hammer
Ridge pit, and the next phase of exploration 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.
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