Freeman Gold makes new gold discovery, Idaho
Freeman Gold Corp. [FMAN-CSE; FMAN-OTC; 3WU-FSE] has made a new gold-silver discovery at the Beauty zone, located approximately 600 metres west of the company’s 100%-owned Lemhi gold deposit, eastern Idaho. The Beauty Zone lies wholly within Freeman’s patented mining claims and is defined by a 350-metre by 250-metre coincidental gold in rock and soil anomaly. During Q4 2021, the first ever drilling at the Beauty Zone was designed as a fan of three diamond drill holes from one setup totaling 328 metres. Drill hole FG21-003C intersected the highest-grade gold mineralization ever drilled by Freeman.
“This new discovery is a major milestone for Freeman. The bonanza grades encountered at the Beauty Zone are the first ever drilled by the company outside of the Lemhi Gold Deposit, highlighting the prospective nature of our underexplored consolidated land package of more than 6,000 acres in Idaho,” stated Paul Matysek, Executive Chairman. “We now have a high-grade gold discovery adjacent to Lemhi upon which we will look to build complementary ounces. Follow up drilling is planned.”
Drilling at Beauty was designed to test the continuity of high-grade veins mapped on surface with gold grab samples up to 450 g/t gold. These veins are associated with an interpreted northwest trending fault; however, the exact relationship was not clear from limited surface exposure. The three holes intersected the fault (FG21-001); the east side of the fault (FG21-002C); and the west side of the fault (FG21-003C). The discovery hole (FG21-003C) intersected bonanza grade gold-silver mineralization in stacked vein sets.
Northwest trending veins mapped on surface 50 metres below the drill pad were intersected and contain 6 metres of 68.23 g/t gold and 40.18 g/t silver with similar grades to those on surface. This near surface intercept starts at 57 metres down hole.
A second unmapped near surface vein set contains 2.1 metres of 11.91 g/t gold and 16.21 g/t silver from 68 metres down hole. A third unmapped vein set contains 4 metres of 0.75 g/t gold. The vein sets are interpreted to occur within stacked gently easterly-dipping structures similar to those at Lemhi. Refer to company website for complete assays.
This newly discovered zone is open to the north and northwest and additional drill holes have been designed to test the zone as soon as possible. Portions of this zone have historically been hydraulically mined at surface due to the presence of coarse gold in exposed vein sets.
As reported October 25, 2021, 105 rock grab and 347 soil samples were collected in and around the Beauty Zone. A total of 52 rock samples returned values greater than 1 g/t gold, 39 with values greater than 5 g/t gold and 28 samples with greater than 10 g/t gold (up to 450 g/t gold). Rock samples are heavily oxidized and silicified at surface.
The Lemhi Gold property comprises 30 km2 of prospective land, hosting a near-surface oxide gold resource. The pit constrained NI 43-101 compliant resource estimate is 749,800 oz gold at 1.02 g/t in 22.94 million tonnes (Indicated) and 250,300 oz gold at 1.01 g/t gold in 7.83 million tonnes (Inferred).
The company is focused on growing and advancing the project towards a production decision.