Fremont Gold - CEO, Blaine Monaghan
CEO, Blaine Monaghan
Source: Fremont Gold
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Fremont Gold (FRE) has completed a Phase One drill program at the past-producing Griffon Gold Project in Nevada, USA
  • The company drilled nine holes over a total of 2,275 metres and has already received assay results from an initial three holes
  • The program tested a number of targets, including gold-in-soil anomalies, an area of unmined mineralisation southwest of the Hammer Ridge pit, and the Blackrock fault
  • Initial results include 50.3 metres at 1.05 grams per tonne of gold starting at 29 metres
  • Fremont Gold (FRE) is currently up 3.57 per cent and is trading at C$0.14 per share at 11:30am EDT

Fremont Gold (FRE) has completed a Phase 1 drill program at the past-producing Griffon Gold Project in Nevada, USA.

Located roughly 75 kilometres southwest of Ely, the company has the right to acquire a 100 per cent interest in the project pursuant to an agreement with Pilot Gold, a wholly owned subsidiary of TSX-listed Liberty Gold.

The Griffon project comprises 89 unpainted mining claims and produced approximately 60,000 ounces of gold between 1997 and 1999.

The project sits at the southern end of the Cortez Trend, which is considered to be one of of the most prolific gold trends in the world and hosts Nevada Gold Mines’ Cortez Mine, which produced 963,000 ounces of gold in 2019.

Fremont Gold had originally intended to drill just 2,000 metres, but concluded the program with nine holes for a total of 2,275 metres. A number of targets were tested, including gold-in-soil anomalies, an area of unmined mineralisation southwest of the Hammer Ridge pit, permissive stratigraphic targets, and the Blackrock fault.

Assay results from an initial three holes have been received, with hole GF-20-3 intersecting 50.3 metres at 1.05 grams per tonne of gold within near-surface oxide gold mineralisation.

The remaining drill holes have been submitted for assaying, the results of which will be released once they have been received, compiled and interpreted.

Blaine Monaghan, CEO of Fremont Gold, said he is eagerly awaiting the results of holes four to nine.

“I’m confident that the results will demonstrate the potential for additional Carlin-type deposits at Griffon and set the stage for an expanded Phase 2 drill program,” he added.

Fremont Gold (FRE) is currently up 3.57 per cent and is trading at C$0.14 per share at 11:30am EDT.

More From The Market Herald

" Novo Resources (TSX:NVO) begins drilling at high-grade gold Catia prospect

Novo Resources (NVO) has begun drilling at the high-grade gold Catia prospect at its Bellary Dome Project in Australia.

" Why First Majestic Silver (TSX:FR) is in the red

Shares of First Majestic Silver (FR) are in the red following the company’s announcement that it has temporarily suspended mining activities at its

" Silvercorp Metals Inc. Outperformed Peers in Q4 and Looking Strong for 2023

By Dr. Ryan D. Long

" Lithium One (TSXV:LONE) accelerates exploration at Sirmac East

Lithium One Metals (LONE) has identified high priority exploration locations on the Sirmac East Lithium Project.