In a news release, Fremont Gold Ltd. (FRE:TSX.V; FRERF:OTCQB; FR2:FSE) announced that it 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."
The company reported that it has now completed 2,275 meters of drilling in nine drill holes at the Griffon location and pointed out that beginning at a depth of 29 meters drill hole GF-20-3 intersected 50.3 meters of 1.05 g/t gold. The firm indicated that several other drill sites have already been permitted at Griffon.
In addition, Fremont Gold announced that it plans to drill the North Carlin project, which is located on the northern end of the Carlin Trend. The company stated that the Carlin Trend has produced greater than 84 million ounces of gold over the last 60 years and is one of the world's richest gold mining districts. The firm noted that North Carlin is situated about 6 km north of the South Arturo mine, which is owned by Premier Gold Mines and Nevada Gold Mines, a joint venture between Barrick Gold Corp. and Newmont Corp. The company advised that recent drilling activity at South Arturo intersected 39.6 meters of 17.11 g/t Au. The North Carlin property is also located around 12 km from the Goldstrike mine owned by Nevada Gold Mines that hosts a Measured & Indicated resource of 11.1 Moz Au.
The firm announced that it will be hosting a webinar on Thursday, October 8, at 11 a.m. EDT to discuss both the Griffon drill results and its North Carlin drill program.
The company's CEO Blaine Monaghan remarked, "This was the first drill program to be completed at Griffon since it was in production in the late 1990s...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."
Freemont indicated that it staked the North Carlin Alkali, Coyote and Rossi claims in 2017 as it believed that this area's geological setting offered the potential for a major gold deposit discovery. The company said that it 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." The company stated that it will present some further information regarding the opportunity it sees at North Carlin and its plans for a fall drill program there in the near future.
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