Vancouver, British Columbia – October 7, 2020 – Fremont Gold Ltd. (FRE: TSXV; FRERF: OTCQB; FR2: FSE) ("Fremont" or the "Company") is pleased to announce that the Company plans to drill the North Carlin gold project ("North Carlin" or the "Project"), located at the northern end of the prolific Carlin Trend, Nevada (see Figure 1).
•Over 42 km2 in size, North Carlin is a large, underexplored gold project located at the northern end of the Carlin Trend.
•The Carlin Trend is one of the richest gold mining districts in the world having produced over 84 million ounces of gold since the early 1960s1; Nevada Gold Mines' Carlin Complex hosts 30 million ounces of gold in the measured and indicated category2.
•The Project is approximately 6 km north of and on-strike of Nevada Gold Mines/Premier Gold Mines' South Arturo mine, where recent drilling intersected 39.6 metres of 17.11 grams per tonne gold3, and 12 km north of Nevada Gold Mines' Goldstrike mine, which hosts 11.1 million ounces gold in the measured and indicated category2. The western edge of North Carlin is approximately 6 km east of Hecla Mining Company's Hollister mine.
•Situated in the right geological setting for the discovery of a major gold deposit, Fremont has developed several drill targets based on soil geochemistry, gravity and geomagnetic surveys, and the projection of key faults that control gold mineralization in the Carlin Trend.
•The Company is permitting ten drill sites at North Carlin and plans to drill a minimum of 1,500 metres in a reverse circulation program commencing later this fall.
•Fremont will be hosting a webinar on Thursday, October 8, at 11am EDT to discuss its exploration plans for North Carlin.
"We are very excited to start drilling North Carlin," said Blaine Monaghan, CEO of Fremont Gold. "In terms of periodicity and alignment, the Project is strategically located at the northern end of the Carlin Trend. Based on North Carlin's geological setting and the exploration results to date, we believe that it holds excellent potential for the discovery of a new Carlin-type deposit."
Fremont staked the claims comprising North Carlin (the Alkali, Coyote, and Rossi Claims) in 2017. Since then, the Company has developed several drill targets based on soil geochemistry, gravity and geomagnetic surveys, and the projection of key faults that control gold mineralization in the Carlin Trend (see Figure 2). In addition, the axis of the Carlin Trend gravity high cuts directly through North Carlin (see Figure 3). Fremont is permitting ten drill sites at North Carlin and plans to drill a minimum of 1,500 metres in a reverse circulation program. The Company anticipates that drilling will be begin later this fall.
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North Carlin drill targets
There are two types of targets at Alkali: a Carlin-type deposit in the southwest and a low-sulfidation epithermal vein deposit in the northeast. The Carlin-type target is based on favorable soil geochemistry and projected Carlin Trend faults. The low-sulfidation epithermal vein target is associated with a possible intrusive body and significant soil geochemical anomalies. The geochemical anomalies occur on the flank of the possible intrusive body near the intersection of a projected Carlin Trend fault and a northeast-trending fault.
At Coyote and Rossi, the target is a Carlin-type deposit in lower plate units. The same type of unit that hosts gold mineralization a few kilometres to the south in the Devonian Rodeo Creek Formation, the Devonian Popovich Formation and the Silurian Roberts Mountains Formation.
North Carlin – Alkali
Alkali is located at the intersection of projected Carlin Trend faults and the Alkali NE fault, a northeast-trending structural corridor that hosts Hollister to the southwest and Tuscarora and Jarbidge to the northeast. The Alkali NE fault cuts through a 1,500 metre by 2,000 metre magnetic high and coincident gold and mercury soil anomalies that occur on the eastern flank of the magnetic high (see Figure 4). Together, the data suggests the presence of gold mineralization beneath alluvial cover.