Post by
OnTheScene on Jan 18, 2019 9:33am
Fremont to start drilling at Gold Bar by end of Jan
Fremont to start drilling at Gold Bar by end of Jan. FREMONT GOLD ANNOUNCES DRILL PROGRAMS AT GOLD BAR AND GOLD CANYON PROJECTS IN NEVADA Drilling will be under way at Fremont Gold Ltd.'s Gold Bar project by the end of January, with drilling to start at the Gold Canyon project soon thereafter. Fremont's Gold Bar and Gold Canyon are both past-producing gold mines in the Gold Bar district, Eureka county, Nevada: The 1,000-metre reverse circulation drill program at Gold Bar will target a coincident gold and mercury geochemical anomaly that may represent an extension to the historic Gold Bar mine (see the Oct. 30, 2018, news release). Gold Bar was exploited by Atlas Precious Metals Corp. from 1986 to 1994 and produced 286,354 ounces of gold. The 500-metre diamond drilling program at Gold Canyon will be focused on further defining a previously unrecognized mineralized zone approximately 50 metres below the pit floor (see the July 25, 2018, news release). "We believe that there is excellent potential to find new zones of gold mineralization at these past-producing gold mines," said Blaine Monaghan, chief executive officer of Fremont. "Our focused drill program at Gold Bar and Gold Canyon has been designed to help unlock that potential and create value for shareholders." Gold Bar and Gold Canyon projects Fremont's Gold Bar and Gold Canyon projects are both former mines in the Gold Bar district, Eureka county, Nevada, an active mining district within the Battle Mountain-Eureka trend. The district contains several Carlin-style sediment-hosted gold deposits, including McEwen Mining Inc.'s Gold Bar project, which is scheduled to begin production in early 2019. Fremont's Gold Bar and Gold Canyon projects are adjacent (west) and immediately north of McEwen's Gold Bar project. While McEwen's project and Fremont's project share the same name, the historic Gold Bar mine is held by Fremont. McEwen's project comprises four of the five satellite pits to the historic Gold Bar mine, whereas Fremont controls the remaining satellite pit, Gold Canyon. Fremont's Gold Bar project encompasses the historic Gold Bar mine, which produced 286,354 ounces of gold from 1986 to 1994, and the Millsite deposit, which hosts a historic resource of 147,000 ounces of gold (1.62 million tonnes at 2.57 grams per tonne gold). Millsite is believed to be a faulted offset of the historic Gold Bar mine and is located to the northwest of the open pit. Fremont recently completed a soil sampling program based on a new structural interpretation and identified coincident gold and mercury geochemical anomalies to the southeast of the historic Gold Bar mine. This new interpretation and these data suggest that gold mineralization related to the historic Gold Bar mine may extend to the southeast. Gold Canyon is adjacent to and directly northwest of McEwen's project, approximately 800 metres from McEwen's Gold Ridge deposit. Gold Canyon produced approximately 41,000 ounces of gold from 1990 to 1994 and a stockpile of previously mined ore still exists at site. About Fremont Gold Ltd. Fremont's mine-finding management team has assembled a portfolio of high-quality gold projects in Nevada with the goal of making a new discovery. Fremont's Gold Bar and Gold Canyon are past producing gold mines adjacent to McEwen Mining's Gold Bar project, where mine construction is under way. Other projects include Goldrun, Hurricane, North Carlin and Roberts Creek. We seek Safe Harbor. 2019 Canjex Publishing Ltd. All rights reserved.