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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.
