Subscribe
Be the first with the news that moves the market- Freeman Gold (FMAN) is gearing up for a 5,000-metre diamond drill program at its Lemhi gold project in Idaho, USA
- The company also intends to carry out metallurgical test work and extensive ground work at certain targets
- The drill results will be used to complete a maiden NI 43-101 resource estimate for the project
- Drilling is expected to begin in the first week of September, with the resource estimate expected to be released before the end of the year
- Freeman Gold (FMAN) is currently up 1.75 per cent and is trading at C$0.58 per share
Freeman Gold (FMAN) is gearing up for a 5,000-metre diamond drill program at its Lemhi gold project in Idaho, USA.
Located within the Salmon River Mountain of Lemhi County, on the border of Idaho and Montana, the property is comprised of 11 patented and 322 unpatented mining claims totalling more than 7,000 acres.
The site sits roughly 40 kilometres north of the town of Salmon and approximately six kilometres west of Gibbonsville.
Mineralisation at the project is thought to be hosted in structurally controlled quartz vein swarms and quartz flooded zones, which occur in close association with low-angle faulting.
Freeman Gold plans to follow-up on two historical holes within the known mineralisation, which have been designed to confirm previously collected data that may be used for a maiden NI 43-101 resource estimate.
Some of these earlier holes returned significant results, including 1.8 grams per tonne of gold over 193 metres, 3.94 grams per tonne of gold over 56 metres, and 1.81 grams per tonne of gold over 179.83 metres.
The company also intends to carry out a groundwork program, consisting of geophysics, soil geochemistry, mapping and prospecting. Historic results from known mineralised regions will be used in this program to identify further satellite deposits along strike and within the 30-square-kilometre land package.
Will Randall, President and CEO of Freeman Gold, said the company intends to begin drilling during the first week of September, with the goal of completing the program by November this year and the maiden resource estimate before the end of 2020.
“We are looking forward to drilling off this near surface, primarily oxide portion of the known mineralisation, in what is our first phase of work at Lemhi.
“Subsequent work programs will focus on expanding the mineralisation both on strike and at depth, which remain open in most directions,” he added.
Freeman Gold (FMAN) is currently up 1.75 per cent and is trading at C$0.58 per share at 12:44pm EDT.
