Vancouver, British Columbia--(Newsfile Corp. - March 1, 2024) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE: FR20) ("Fremont" or the "Company") is pleased to announce that encouraging historic drill data from the late 1950s pertaining to the Company's Urasar property in Armenia has been identified. Additionally, results from the Company's maiden drill program at the Vardenis project in central Armenia have been received.
Urasar project
Urasar was last worked by Soviet government teams in the 1950s and 1960s resulting in the identification of three mineralized zones and four geochemically anomalous zones along a 14 km strike length (see news release dated October 10, 2023).
At the end of 2023, the Company completed a soil geochemical survey comprising 744 C-horizon soil samples which display a continuous gold-copper/base metal anomaly over a 15 km strike length. Gold values ranged up to 449 ppb with a mean of 142 ppb (see news release dated February 5, 2024).
Recently recovered historic drill data
Fremont's country manager and chief geologist, Hovhannes Karapetyan, recently uncovered in government archives, information regarding a historic Soviet drill hole from 1959, which is located within the western part of the Urasar exploration permit. Yellow River hole bottoms in 25 meters containing 1.27% copper from 209m to 234m vertical depth. Copper values higher up the hole were also anomalous ranging from below detection (300 ppm) to 0.77% Cu. This information is not compliant with NI-43-101 guidelines, and cannot be used for future resource calculations, but it does demonstrate the focus of previous exploration work and points to one of the main areas of follow-up for upcoming exploration work at Urasar. Once weather permits, the Company plans to rehabilitate the old road into the area, and carry out detailed mapping, additional sampling, and a ground magnetometer survey.
Vardenis project
The Razmik Cu-Mo porphyry target at Vardenis was the subject of two diamond drill holes totalling 770m in late October and early November 2023. The Razmik zone is likely the center of the entire 32 km2 Vardenis alteration system and is one of several significant and promising exploration targets within the property. The system is characterized by a large zone of quartz-sericite alteration with two centers of B and D-type porphyry-style veinlets*.
The quartz sericite alteration zone at Razmik measures approximately 2.1 km by 0.5 km with a NW strike and displays two centers of D and B veinlets, Razmik SE and Razmik NW. Razmik SE is approximately 450m by 300m of multiple outcropping zones of B veinlets surrounded by D veinlets. Sampling of these veinlets shows molybdenum values up to 600 ppm and copper values up to 0.14% Cu (historic Dundee Precious Metals Corp. data, hereafter referred to as "Dundee", see news release dated June 6, 2023). Razmik NW comprises a core of B veinlets with dimensions of 430m by 230m, surrounded by a zone of pyrite veinlets of approximately 700m by 400m. Historical sampling shows molybdenum values up to 2,093 ppm (the highest Mo value in the property), and 442 ppm copper (also historic Dundee data).
*Sillitoe, Richard H., Porphyry Copper Systems, Economic Geology, Volume 105, No 1, January 2010
Drill results
The visibly mineralized intervals from the two holes were submitted for fire assay and multi-element analysis comprising approximately half the drilled core. Both drill holes intersected geochemically anomalous gold and copper values, ranging up to 1.82 g/t Au in VARD-01 and up to 1,365 ppm Cu in VARD-02. The zones hosting significant sulfide mineralization that were processed from VARD-01 comprise 59m to 111m, 154m to 222m and 313m to 357m depth. From hole VARD-02, the zones sent for assay and multi-element analysis include the intervals 29m to 68m, 145m to 161m and 280m to 357m depth.
In total, 141 two-meter sample lengths were sent for geochemical analysis to the ALS laboratory in Romania. In addition, 39 samples were collected at 20m intervals from both holes for spectral short-wave infrared investigation which characterizes alteration assemblages used as vectors in copper porphyry exploration.
Interpretation of drill results
VARD-01 and VARD-02 intersected anomalous gold and copper geochemistry, ubiquitous sericitic and argillic alteration, and significant porphyry-style quartz veining/brecciation (particularly in VARD-02), but did not penetrate to the potassic-altered, mineralized center of the system. Despite the lack of ore-grade values of copper and gold, these holes are the first step in the exploration of a large, mineralized porphyry system. Additional and deeper drilling will be necessary along with systematic sampling and spectral analysis of the existing and future drill holes. The important insights from this maiden drill program at Vardenis are the following:
Significant copper and precious metal mineralization are typically absent in the transition zone from advanced argillic to mineralized potassic alteration environment. VARD-01 and VARD-02 were both drilled within this transition zone, but the depth and geometry of this transition zone are still to be determined;
This feeder/contact may conduit to high sulfidation mineralization associated with advanced argillic alteration and vuggy silica as occurs at high elevations at Vardenis --where Dundee drilled seven shallow holes exploring for gold (see TSX qualifying report, "Technical Geological Report for the Vardenis Property: Armenia, July 25, 2023, on the Company website);
Spectral data from VARD-01 and VARD-02 show dominance of white mica with minor amounts of kaolinite, dickite, and chlorite, which reinforces the Company's belief that the Razmik SE and Razmik NW zones are in the center of the copper porphyry environment;
VARD-02 displays an encouraging trend of increasing copper towards the end of the hole as well as anomalous Na, Mg, Ca, with increasing quartz veining. These are good indications of increasing hydrothermal temperature and approaching mineralization;
President and CEO Dennis Moore commented, "The amount of porphyry-style veining, brecciation and sulfide mineralization observed in these two initial drill holes at Vardenis demonstrates that we are within the porphyry environment and just need to close in on the core of the mineralizing system. The limited spectral analysis completed to date indicates that we need to drill deeper. Additional detailed logging and analysis will be carried out by a porphyry copper specialist once the weather permits in late April or May."
Moore continues, "To intersect significant intervals of economic mineralization in the first drill holes of an exploration campaign is an uncommon event that involves a bit of serendipity. The usual course of mine-finding is a deductional process involving stages of geophysics, detailed mapping, sampling, and of course additional drilling. We have just started, and we expect to be successful."
Nevada gold assets
The Company has entered into an agreement to sell its wholly owned subsidiary, Intermont Exploration, Corp. ("Intermont"), to an Australian consortium (the "Buyer"). Intermont holds the Cobb Creek asset in Elko County Nevada. The purchase price totals US$300,000 to be paid over two years. Certain debts of Intermont owing to Fremont's former Vice President of Exploration have been transferred to Fremont. The Buyer will assume all ongoing costs of Intermont including option and BLM payments. Other than Hurricane, Cobb Creek is the last remaining Nevada gold asset held by the Company. The Company continues to seek opportunities to monetise the Hurricane asset.
About Fremont Gold
Fremont's mine-finding management team has assembled a portfolio of potential world-class copper-gold mineral opportunities within the central Tethyan belt of Armenia, and controls one gold exploration project located on the Cortez Trend in Lander County Nevada.
Qualified person
The content of this news release was reviewed by Dennis Moore, Fremont's President, CEO and interim Chairman, a qualified person as defined by National Instrument 43-101.
不列顛哥倫比亞省溫哥華--（Newsfile Corp.，2024年3月1日）——弗裏蒙特黃金有限公司（多倫多證券交易所股票代碼：FRE）（OTCQB：FRERF）（FSE：FR20）（“弗裏蒙特” 或 “公司”）高興地宣佈，20世紀50年代末與該公司在亞美尼亞的Urasar財產有關的令人鼓舞的歷史鑽探數據已經確定。此外，已經收到了該公司在亞美尼亞中部Vardenis項目的首次鑽探項目的結果。
Urasar 項目
Urasar最後一次由蘇聯政府團隊在20世紀50年代和1960年代工作，結果在14千米的走向長度上發現了三個礦化帶和四個地球化學異常帶（見2023年10月10日的新聞稿）。
2023年底，該公司完成了一項土壤地球化學調查，其中包括744份C-horizon土壤樣本，這些樣本在15千米的走向長度上顯示了持續的金銅/賤金屬異常。黃金價值高達449個百分點，平均值爲142個百分點（見2024年2月5日的新聞稿）。
最近恢復的歷史鑽探數據
弗裏蒙特的區域經理兼首席地質學家霍夫漢內斯·卡拉佩蒂安最近在政府檔案中發現了有關1959年蘇聯歷史鑽孔的信息，該鑽孔位於Urasar勘探許可證的西部。黃河洞底部位於 25 米處，含銅量爲 1.27%，垂直深度從 209 米到 234 米。鑽孔上方的銅值也存在異常，範圍從低於探測值（300 ppm）到 0.77% 的銅不等。這些信息不符合 NI-43-101 指南，也不能用於未來的資源計算，但它確實表明了先前勘探工作的重點，也指出了烏拉薩爾即將進行的勘探工作的主要後續領域之一。天氣允許後，該公司計劃修復通往該地區的舊路，並進行詳細測繪、額外採樣和地面磁強計調查。
Vardenis 項目
2023 年 10 月下旬和 11 月初，位於瓦爾丹尼斯的拉茲米克銅鉬斑岩目標成爲兩個總長 770m 的金剛石鑽孔的主題。拉茲米克區可能是整個32平方公里的Vardenis改造系統的中心，也是該物業內幾個重要且有前途的勘探目標之一。該系統的特徵是大面積的石英-絹雲母蝕變區域，兩個 B 型和 D 型斑岩樣脈*爲中心。
拉茲米克的石英絹雲母蝕變區面積約爲 2.1 千米 x 0.5 千米，向西北，顯示兩個 D 和 B 脈中心，即 Razmik SE 和 Razmik NW。Razmik SE 大約 450 米 x 300 米的多個 B 靜脈露出地帶，周圍環繞着 D 形靜脈。這些脈絡的採樣顯示鉬值高達600 ppm，銅值高達0.14％（鄧迪貴金屬公司的歷史數據，以下簡稱 “鄧迪”，見2023年6月6日的新聞稿）。拉茲米克西北部由尺寸爲430米乘230米的B型礦脈組成，周圍環繞着約700米乘400米的黃鐵礦脈區域。歷史抽樣顯示鉬值高達2,093 ppm（該物業中最高的鉬值），銅值爲442 ppm（也是鄧迪的歷史數據）。
*Sillitoe，Richard H.，Porphyry Copper Systems，《經濟地質學》，第 105 卷，第 1 期，2010 年 1 月
鑽探結果
兩個鑽孔的可見礦化間隔已提交火災分析和多元素分析，約佔鑽探岩心的一半。兩個鑽孔都與地球化學異常的金和銅值相交，VARD-01 中的金值高達 1.82 克/噸，VARD-02 中的銅值高達 1,365 ppm。從 VARD-01 處理的具有大量硫化物礦化的區域包括 59 米至 111 米、154 米至 222 米以及 313 米至 357 米的深度。從 VARD-02 孔開始，送去進行化驗和多元素分析的區域包括 29m 到 68m、145m 到 161m 和 280m 到 357m 的間隔。
總共向羅馬尼亞的ALS實驗室發送了141個兩米長的樣本進行地球化學分析。此外，以20m的間隔從兩個孔中採集了39個樣本，用於光譜短波紅外研究，該研究描述了在銅斑岩勘探中用作載體的蝕變組合。
對鑽探結果的解釋
VARD-01 和 VARD-02 與異常的金和銅地球化學、無處不在的絲質和泥質蝕變以及顯著的斑岩式石英脈絡/角礫岩相交（尤其是 VARD-02 中），但沒有滲透到系統的鉀化改性礦化中心。儘管銅和金的礦石等級價值不足，但這些鑽孔是勘探大型礦化斑岩系統的第一步。將需要進行更多和更深的鑽探，同時對現有和未來的鑽孔進行系統的採樣和光譜分析。Vardenis的首次鑽探計劃的重要見解如下：
總裁兼首席執行官丹尼斯·摩爾評論說：“在Vardenis的這兩個初始鑽孔中觀察到的斑岩式脈紋、角礫岩和硫化物礦化量表明，我們處於斑岩環境中，只需要接近礦化系統的核心即可。迄今爲止完成的有限光譜分析表明，我們需要更深入地鑽探。一旦4月下旬或5月天氣允許，斑岩銅專家將進行更多詳細的記錄和分析。”
Moore繼續說：“在勘探活動的第一個鑽孔中，跨越很長的經濟礦化間隔是罕見的事件，涉及一些偶然性。通常的探雷過程是推理過程，涉及地球物理學的各個階段、詳細測繪、採樣，當然還有額外的鑽探。我們才剛剛開始，我們希望取得成功。”
內華達州的黃金資產
該公司已簽訂協議，將其全資子公司Intermont Exploration, Corp.（“Intermont”）出售給澳大利亞財團（“買方”）。因特蒙特持有內華達州埃爾科縣的科布溪資產。購買價格總額爲30萬美元，將在兩年內支付。因特蒙特欠弗裏蒙特前勘探副總裁的某些債務已轉移給弗裏蒙特。買方將承擔Intermont的所有持續成本，包括期權和BLM付款。除颶風外，Cobb Creek是該公司持有的最後剩餘的內華達州黃金資產。該公司繼續尋找通過颶風資產獲利的機會。
關於 Fremont Gold
弗裏蒙特的探礦管理團隊已經在亞美尼亞中部特提安地帶內收集了一系列潛在的世界級銅金礦產機會，並控制着位於內華達州蘭德縣科爾特斯趨勢的一個金礦勘探項目。
合格人士
本新聞稿的內容由弗裏蒙特總裁、首席執行官兼臨時董事長丹尼斯·摩爾審閱，根據美國國家儀器43-101的定義，他是合格人士。
