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Fremont Discovers Gold-in-Soil Anomalies at Roberts Creek, Nevada; Exploration Update

Nachrichtenquelle: IRW Press
22.02.2019, 10:42  |  304   |   |   

Fremont Discovers Gold-in-Soil Anomalies at Roberts Creek, Nevada; Exploration Update

 

Vancouver, British Columbia – February 22, 2018 – Fremont Gold Ltd. (TSX.V: FRE; FSE: FR2; OTC: USTDF;) (“Fremont” or the “Company”) is pleased to announce that it has discovered several gold-in-soils anomalies that coincide with intersecting multiple faults at the Roberts Creek project, located within the Gold Bar district, Eureka County, Nevada.  

 

Roberts Creek consists of 170 unpatented mining claims, covering approximately 1,400 hectares directly south of McEwen Mining’s Gold Bar project. Figure 1 shows the location of Fremont’s claim blocks (purple) in relation to McEwen Mining’s Gold Bar project areas (blue).

 

“We are very encouraged by the recent magnetic and soil survey results at Roberts Creek,” said Clay Newton, Fremont’s Vice President of Exploration. “The geophysical and geochemical anomalies coincide with the intersections of multiple faults projected from the range. The location of these anomalies at the intersection of multiple faults, and within sight of satellite gold deposits in the range, is reminiscent of Pipeline.”

 

Figure 1.  Roberts Creek in a regional geologic and property framework

 

 

-          Roberts Creek is located on shallow pediment immediately south of the Roberts Mountains, on a gravity high intersected by multiple probable faults projected from the range;

 

-          Fremont completed a ground magnetic survey late last year (see September 12, 2018, news release) which outlines prospective linear magnetic low zones that coincide with the projected fault intersections on the west side of the project area. Magnetic low areas often reflect “magnetite destruction” caused by acidic mineralizing fluids;

 

-          The recent soil survey has returned anomalous gold and pathfinder elements defining anomalies in the fault intersection area on the west side of the project area and also along Roberts Creek on the east side of the project area (see Figure 2).

 

-         The soil anomaly on the east side follows along Roberts Creek, which is probably controlled by a NNE fault. The NNE fault intersects a NE-trending fault that projects out of McEwen’s Gold Bar South resource area into the range. This is an excellent structural trap for mineralization and represents a compelling drill target.  

 

Figure 2. Gold in soils in relation to projected faults from the range and Roberts Creek

 

 

 

Exploration update

 

Fremont has completed the reverse circulation drill program at the Gold Bar project (see the February 6, 2019, news release) and the samples are currently being prepared for shipping. The results will be reported as soon as they have been received and approved. Due to extreme winter weather conditions in northern Nevada, the Company has elected not to proceed with the planned 500-metre diamond drill program at Gold Canyon at this time (see the February 6, 2019, news release). Fremont believes that this is a prudent decision not only from a health and safety standpoint but also from a budgetary perspective. The Company is actively monitoring the conditions at Gold Canyon and will provide investors with further updates regarding its drilling plans at Gold Canyon.

 

Background of the Gold Bar District

 

Fremont’s Gold Bar and Gold Canyon projects are both former mines in the Gold Bar District, Eureka County, Nevada, an active mining district within the Battle Mountain-Eureka Trend. The district contains several Carlin-style sediment-hosted gold deposits, including McEwen Mining Inc.’s (“McEwen”) Gold Bar project, which is scheduled to begin production in Q1 2019.

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