Fremont Gold Ltd. (TSX-V: FRE) (OTC Pink: USTDF) is pleased to announce that the Company has received results from recent channel sampling conducted at the Hurricane Project in Lander County of northern Nevada (see press release dated October 25, 2017).
The Hurricane project was partially tested by Pegasus Gold Corp. in 1986-1987 through a program of trenching and shallow RC drilling but has received no systematic work since. Nineteen of thirty-five holes drilled by Pegasus intersected near-surface gold mineralization including: 16.8m at 2.86 g/t, 12.2m at 2.32 g/t, 15.2m at 1.65 g/t and 3.1m at 6.91g/t Au. This work defined a NW-SE trending mineralized area which is elongated parallel to the Cortez trend. The zone remains open to both the southeast and northwest and also at depth.
The recent work enlarges the surficial gold-mineralized area identified by Pegasus’s previous work, and mapping reveals that the better grades are centered around a low angle fault that may be a conduit for mineralizing fluids. This fault is possibly the structure associated with the gold mineralized zones intersected in the historic Pegasus RC drill holes. Down-dip projections of this fault may host unrecognized gold-mineralized zones, and can as well be a vector to a feeder structure. Further exploration work to confirm this possibility will be carried out after winter snows recede in the late spring (Hurricane occurs on a relatively high ridge and is subject to seasonal snow cover).
VP Exploration for Fremont, Clay Newton states, “A 102-meter continuously mineralized gold intercept at surface is extremely encouraging and compares favorably with the historical Pegasus Gold work. There are very few non-mine areas in Nevada where one can find a 100m wide, mineralized zone at surface. In addition, Hurricane is in a very, very prospective neighborhood. It is located 15 miles directly on trend from the Barrick’s Pipeline and Cortez Hills projects, and less than 2 miles from Barrick’s 2M oz Au deposit across the valley at Hilltop.”
Plan showing sample results and location of Fremont’s Hurricane project
Dennis Moore, the Company’s CEO and President, and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this press release.1 Barrick Gold Corp. and Newmont Gold Mining Corp. annual reports and corporate information.
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 its management team. Further information regarding the Hurricane, Gold Bar Project and Goldrun Project are described in the filing statement of the Company dated May 29, 2017, available at www.sedar.com.
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