Freeman Expands Shallow High-Grade Oxide Gold Mineralizaton at Lemhi: 0.9 g/t Au over 174.2 metres Including 3.9 g/t Au over 18.5 metres

Rhea-AI Summary

Freeman Gold Corp. (CSE: FMAN) has announced positive assay results from 11 of 34 drill holes at the Lemhi Gold Project, Idaho. The Phase 1 drill program aimed to validate historical mineralization and support a National Instrument 43-101 compliant resource estimate. High-grade shallow oxide gold was intersected, with notable results including 2.6 g/t Au over 14.1m and 1.6 g/t Au over 86m. Mineralization extends to at least 210 meters and remains open at depth, highlighting the project’s potential. President Will Randall noted results exceeded expectations, confirming consistent mineralization behavior.

Positive

• High-grade gold intersections reported, including 2.6 g/t Au over 14.1m and 1.6 g/t Au over 86m.
• Drill program supports the potential for a National Instrument 43-101 compliant resource estimate.
• Mineralization confirmed to extend to at least 210 meters and remains open at depth.

Negative

• None.

CANADIAN SECURITIES EXCHANGE: FMAN                            

SALMON, Idaho, March 11, 2021 /PRNewswire/ - Freeman Gold Corp. (CSE: FMAN) (FSE: 3WU) ("Freeman" or  the "Company") is pleased to provide assay results of core from an additional 11 of 34 diamond drill holes on Freeman's 100% owned Lemhi Gold Project located in Idaho. The objective of the 2020 Phase 1 drill program was designed to confirm historical mineralization and allow the use of over 355 historical drill holes in a maiden National Instrument 43-101 compliant resource estimate. The drill program focused on infill and step-out drilling within the known mineralized body to increase confidence and maximize the potential resource.

All holes drilled to date have intersected high-grade shallow oxide gold. Selected highlighted results from the additional 11 holes are 2.6 g/t Au over 14.1m (FG20-005C); 1.6 g/t Au over 86m, including 2.2 g/t Au over 20.2m (FG20-007C); 0.9 g/t Au over 174.2m, including 3.9 g/t Au over 18.5m (FG20-008C); and 3.5 g/t Au over 9.5m (FG20-013C). Gold mineralization extends to at least 210 meters and is open at depth. FG20-014C was drilled to test mineralization beneath the intrusion. Mineralization discovered below the intrusive unit encountered 1.2 g/t Au over 21.8m demonstrating that the mineralization not only continues at depth but to the east. This drill hole was the easternmost hole drilled during the 2020 campaign. This new zone remains open on strike. In addition, drill hole FG201-008 ended in mineralization (181.93m to 182.97m contained 2.39 g/t Au), suggesting either additional mineralized stacks at depth and or proximity to a feeder zone.  The results are being interpreted by technical staff for future follow up activities.

Table 1 – Significant Drill Results

Drill Hole ID	Azimuth, Dip (degrees)		Total Depth (m)	Depth (m)		Interval (m)	Average Grade (g/t Au)
				From	To
FG20-004C	298	-75	223	0	27.4	27.4	0.4
and				93.0	167.0	74	0.7
including				93.0	107.2	14.2	1.8
and				208.2	209.9	1.7	5.2
FG20-005C	360	-90	210	43.0	57.1	14.1	2.6
including				49.0	57.1	8.1	3.5
and				66.9	123.5	56.8	0.5
FG20-007C	360	-90	182	7.4	181.7	174.3	0.8
including				15.8	36.0	20.2	2.2
including				90.0	97.5	7.5	6.3
including				14.9	100.9	86.0	1.6
FG20-008C	360	-90	184	9.4	183.6	174.2	0.9
including				64.7	71.8	7.1	3.8
including				82.1	100.6	18.5	3.9
FG20-009C	360	-90	197	16.5	183.1	166.6	0.3
including				155.1	162.0	6.9	2.6
FG20-010C	360	-90	173	100.0	136.9	36.9	0.6
including				108.0	113.1	5.1	1.7
FG20-011C	360	-90	173	12.1	153.0	140.9	0.3
including				118.1	122.0	3.9	5
including				118.1	132.0	13.9	1.9
FG20-012C	assays pending
FG20-013C	360	-90	184	106.9	127.2	20.3	2.1
including				109.1	118.6	9.5	3.5
including				110.2	116.9	6.7	4.3
FG20-014C	360	-90	286	70.0	75.0	5.0	1.1
and				157.9	179.7	21.8	1.2
including				159.0	163.0	4.0	2
FG20-015C	360	-90	201	35.0	59.0	24.0	1
including				49.0	51.0	2.0	4.8
and				113.0	124.0	11.0	2.1
including				113.0	117.0	4.0	4.9
and				146.0	168.0	22.0	0.3
FG20-016C	360	-90	164	64.8	101.1	36.3	0.25
including				71.0	72.0	1.0	4.3

*Intervals are core-length. True width is estimated between 90-95 percent ("%") of core length.

Will Randall, President and CEO, commented, "These drill results continue to demonstrate the consistent high grade, near surface nature of the gold mineralization at Lemhi. We have now received assay results, which have exceeded expectations, for half of the holes drilled by Freeman. In particular, we are very pleased at the response to drill testing the high-grade structures which are behaving in a consistent and predictable manner. We are also encouraged by FG20-014C which is our first drill hole to explore possible repetitions of the flat lying structures at depth below a predominant intrusive body. We now have confirmed that gold mineralization continues at depth and will be working on follow up work to maximize this discovery."

Geologically, the Lemhi Gold Project lies within the Idaho-Montana porphyry belt, a northeast-trending alignment of metallic ore deposits and mines related to granitic porphyry intrusions. These extend north-easterly across Idaho and are related to the Trans-Challis fault system, a broad (20-30 km-wide) system of en-echelon northeast-trending structures extending from Boise Basin more than 270 km into Montana. At Lemhi, gold mineralization is hosted in Mesoproterozoic quartzites and phyllites within a series of relatively flat-lying lodes consisting of quartz veins, quartz stockwork and breccias. Mineralized lodes are associated with low angle faults, folding and shear zone(s). The mineralized zones have varying amounts of sulphides (pyrite, chalcopyrite, bornite, molybdenum, and occasionally arsenopyrite) where free gold is common.  Gold mineralization at Lemhi is open at depth and on strike.    

All drill core and rock samples are sent to ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada, an independent and fully accredited laboratory (ISO 9001:2008) for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy (select drill holes). Freeman has a regimented Quality Assurance, Quality Control ("QA/QC") program where at least 10% duplicates, blanks and standards are inserted into each sample shipment.  

Core photos and drill sections can be found at www.freemangoldcorp.com.  Drill holes are not analyzed in order but as shipments were logged in at the laboratory.   

The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., VP Exploration for the Company and a Qualified Person as defined by National Instrument 43-101.

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 kilometers of highly prospective land. The mineralization at the Lemhi Project consists of shallow, near surface primarily oxide gold mineralization that has been identified over 355 drill holes and is open at depth and in multiple directions. The Company is completing an initial Phase 1 diamond drill program for a maiden NI 43-101 compliant resource estimate.

On Behalf of the Company

William Randall
President and 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.

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SOURCE Freeman Gold Corp.

FAQ

What are the latest assay results from Freeman Gold Corp. at the Lemhi Gold Project?

Freeman Gold Corp. reported high-grade results, including 2.6 g/t Au over 14.1m and 1.6 g/t Au over 86m from its recent drill program.

What is the significance of the drilling results for FMANF?

The drilling results indicate consistent high-grade gold mineralization and support the potential for a resource estimate compliant with National Instrument 43-101.

How deep does the gold mineralization extend at the Lemhi Gold Project?

The gold mineralization at the Lemhi Gold Project has been confirmed to extend to at least 210 meters and remains open at depth.

What is the goal of Freeman Gold Corp's drilling program?

The goal of the drilling program is to confirm historical mineralization and validate over 355 historical drill holes for resource estimation.