Fremont Gold identifies widespread weathering at Cobb Creek
Vancouver, British Columbia – (Newsfile Corp. – December 17, 2021) – Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FREF) (FSE: FR2) (“Fremont” or the “Company”) is pleased to provide an update regarding the exploration of the Company’s Cobb Creek project in Elko County, Nevada.
The highlights are as follows:
- The Cobb Creek project is located at the north end of the Independence Corridor, one of the most significant gold belts in northern Nevada, and contains a historic non-N43-101 resource of 160,000 ounces of gold, called the McCall deposit.1
- Recent structural and alteration mapping from Fremont to Cobb Creek reveals extensive or high-level Carlin-like epithermal alteration, including large areas of jasperoid-silica alteration and ubiquitous breccia, which had not been mapped or previously recognized, and above all, not tested by drilling.
- These areas lie on the northeast and southeast portions of the 3,648 ha Cobb Creek claim block, in northwest and northeast trending structural corridors that partially intersect under volcanic cover and define new target areas not tested.
- Recent extensive ground magnetic surveys reveal volcanic blanket that obscures the magnetic response of potential host rocks beneath the volcanic rocks. An expanded geochemical soil sampling program in the Cobb Creek area was also recently completed. The results are pending.
Nevada’s major gold deposits are located within well-defined mineralized structural “trends”. Cobb Creek is hosted in the Independence Corridor which includes the Jerritt Canyon, Big Springs, Wood Gulch and Gravel Creek gold deposits.
Fremont Vice President of Exploration Dr. Clay Newton explains, “Figure 2 is a regional view to show the relationship between the projected Gravel Creek epithermal corridor and the McCall resource. The epithermal corridor was drawn on along a structural zone from the 1.4 million ounce Gravel Creek epithermal gold deposit, 12 km north, to the Cobb North zone which was staked earlier this year. 160,000 ounces of McCall Gold Resource is analogous to the relationship between the Carlin-type Wood Gulch deposit and the Gravel Creek epithermal deposit, which form a couplet. Similarly, Fremont’s McCall deposit may be the apex of a larger system. Carlin type with the possibility of a classic epithermal deposit adjacent and superimposed to the east. “
Dr. Newton continues, “Newly identified prominent linear areas of ubiquitous jasperoid silicification and quartz veins appear to be epithermal in character. This silicification and these veins develop in both upper plate and lower plate lithologies, and may be part of an epithermal vein system. or the top of a Carlin-like system. These altered and silicified structural corridors at Cobb Creek extend northeast and southeast of the historic McCall gold deposit, and are partially under volcanic cover (see Figure 3). These newly identified zones of weathering and silicification have never been drilled and are exciting new drill targets. “
North Carlin Drilling Final Results
Final results were returned for three deep RC reconnaissance holes that were drilled in the Coyote and Alkali claim blocks, which are part of Fremont’s North Carlin project. Coyote is located 6 km north and bordering Nevada Gold Mines / Premier Gold Mines South Arturo mine and 12 km northwest of Nevada Gold Mines Goldstrike mine, which contains 11.1 million ounces gold in the measured and indicated category. The Alkali claim block extends an additional one to eight kilometers to the northwest and approximately 8 kilometers 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. The drill cuttings were grouped into 25-foot intervals and selected areas were then analyzed for gold at the individual five-foot intervals. All three holes returned significant intervals of anomalous gold and scout elements in zones containing sulphides and altered dykes, but did not penetrate the more promising “Lower Plate” lithologies due to the limitations. RC drilling depth.
The presence of anomalous gold and scout elements in the upper plate rocks directly on the trend of some of the largest Carlin-style gold deposits in the world suggests that drilling may have intersected the weakly mineralized halo of a Hidden Pug-type gold deposit
Fremont is currently evaluating all recently acquired drill data in order to plan for further exploration.
The contents of this press release have been reviewed by Dennis Moore, President and Chief Executive Officer of Fremont, a Qualified Person as defined in National Instrument 43-101.
The Fremont Mine Research Management team has assembled a portfolio of high quality gold projects in Nevada with the goal of making a new discovery. Other Fremont projects include Griffon, North Carlin, and Hurricane.
On behalf of the Board of Directors,
President and CEO
Fremont Gold Ltd.
For more information, contact:
1 Pawlowski, MR, 2004, Technical Report on Cobb Creek Property, McCall Area, Elko County, Nevada.
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