Freeman Gold Reports on the Beauty Zone - A High Grade Gold Target Adjacent to Lemhi Gold Resource
- 350 metre by 250 metre coincidental gold in rock and soil anomaly open in 3 directions
- Located 600 metres west of Lemhi gold resource
- 52 of 105 rock samples greater than 1 g/t Au with 28 samples greater than 10 g/t Au
- (up to 450 g/t Au)
- Zone is heavily oxidized and silicified at surface
- Trenching and drill pad construction are underway.
CANADIAN SECURITIES EXCHANGE: FMAN
VANCOUVER, BC, Oct. 25, 2021 /CNW/ - Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to report geochemical results from the newly discovered Beauty Zone ("Beauty Zone"). This zone lies approximately 600 metres west of the Lemhi Gold Deposit where Freeman recently reported a maiden Mineral Resource Estimate on July 8, 2021.
The untested 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. Sections of this zone were hydraulically mined between 1890 and the early 1900s. The Beauty Zone was first identified from prospecting during the 2020 field work program, described as Target 1 in the press release dated May 6, 2021. The Beauty Zone's location in relation to the Lemhi Gold Deposit and other exploration targets is shown in Figure 1.
"With the discovery of the Beauty Zone we have added a high quality target to our resource potential," commented Paul Matysek, Executive Chairman. "We are very excited about the prospects of adding near surface, high grade oxide ounces near Lemhi. The similarities between their geological settings and the very prospective geochemical results are striking. It's a beauty! Drill pads are being constructed for drill testing."
In total, 105 rock grab and 347 soil samples have been collected in and around the Beauty Zone. A total of 52 rock samples returned values greater than 1 gram per tonne ("g/t") gold ("Au"), 39 with values greater than 5 g/t Au and 28 samples with greater than 10 g/t Au (up to 450 g/t Au). Rock samples are heavily oxidized and silicified at surface. (See Table 1: Figure 2)
One contrast to mineralization at the Lemhi Gold Deposit is the presence of associated silver in many of the anomalous rock samples. Of the 105 rock grab sample results received to date, 48 samples at the Beauty zone contain greater than 10 g/t silver ("Ag") (up to 219 g/t Ag). Furthermore, the anomalous rock grabs coincide with a gold in soil anomaly (identified by Freeman during the 2020/2021 exploration campaigns) which is approximately 350 by 250 metres.
The Beauty Zone Target is hosted in Proterozoic silttites and quartzites similar to the Lemhi Gold Deposit. The target area is structurally complex. Within the center of Beauty Zone is an interpreted Northeast-Southwest ("NE-SW") striking fault. The host metasediments dip in opposite directions on either side of this fault (NW in the east block, SE in the west block). Although there is a limited amount of outcrop exposed, it appears that gold-silver mineralization is hosted in Northwest-Southeast oriented quartz veins which following jointing patterns running sub-perpendicular bedding and the NE trending fault. A fold observed in the outcropping quartz veins has rock grab samples containing 46 g/t Au and 56 g/t Ag. These high-grade quartz veins exposed at surface represent a compelling target with respect to gold-silver mineralization on the property (See Figure 2).
Recently, Freeman re-established road cuts over the Beauty Zone Target and exposed additional outcrops containing quartz veins, altered and oxidized silttites, silicified silttites and/or quartzites, fault gouges and folded stratigraphy. The outcrops are all currently being mapped and rock channel sampled. Drill pads are being constructed for initial drill testing.
All drill rock samples are sent to ALS Minerals Division, Vancouver, BC, an independent and fully accredited laboratory in Canada for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy. Freeman has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks and standards are inserted into each sample shipment. Additionally, soil samples were sent to SGS Canada Inc. and analyzed using Ionic Leach ("IL") method. Rock grab samples are by their nature selective and are not necessarily indicative of the general geology or the grade within the Property.
About the Company
Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the "Lemhi Project"). The Lemhi Project comprises 30 square kilometres of highly prospective land. The project hosts a near surface, shallow, high grade oxide gold resource. The pit constrained National Instrument 43-101 compliant mineral resource estimate is comprised of 749,800 oz gold ("Au") at 1.02 grams per tonne ("g/t") in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). The Company is focused on growing and advancing the Lemhi Project towards a production decision. The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., VP Exploration of the Company and a Qualified Person as defined by National Instrument 43-101.
On Behalf of the Company
William Randall
President & CEO
Forward Looking Statements: This press release contains "forward–looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties, and assumptions. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Freeman Gold Corp.
please visit the Company's website at www.freemangoldcorp.com or contact Mr. Tom Panoulias at 416-294-5649 or by email at: [email protected]
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