FREEMAN REPORTS ON FINAL DRILL RESULTS FROM 2021-2022 DRILL PROGRAM
Freeman Gold Corp. (TSXV: FMAN) announced final results from its 12,000 metre Phase 2 and 3 drilling program at the Lemhi Gold Deposit in Idaho. All 71 drill holes intersected shallow oxide gold mineralization, with notable highlights including 1.23 g/t Au over 36m and 9.7 g/t Au over 3m. The program extended known mineralization further north and south, contributing to a total Indicated Mineral Resource of 749,800 ounces of gold at 1.02 g/t and an Inferred Mineral Resource of 250,300 ounces at 1.01 g/t. A new mineral resource estimate and Preliminary Feasibility Study are underway, as Freeman transitions focus to further resource expansion.
- All drill holes intersected shallow oxide gold, signaling a successful drilling campaign.
- Significant gold grades reported, including 9.7 g/t Au over 3m.
- Resource estimates indicate substantial gold presence, with 749,800 oz in Indicated and 250,300 oz in Inferred categories.
- Successful extension of known mineralization, indicating potential for resource expansion.
- None.
- All 71 drill holes from the Phase 2 diamond drill program and Phase 3 reverse circulation drill program intersected shallow oxide gold mineralization within existing resource pit boundaries both along strike and at depth.
Highlights from new results (see Figure 1 and Tables 1 and 2):
North
- Expansion drilling successfully extended known mineralization at
Lemhi 250 metres ("m") north of previous drilling by Freeman - FG22-034C returned 1.23 g/t Au over 36m, including 5.16 g/t Au over 7m
- FG22-030C returned 9.7 g/t Au over 3m
- FG22-063R returned 1.7 g/t Au over 12.19m
Infill
- 0.47 g/t Au over 224m (infill hole to test depth of mineralization; FG22-017C)
East
- 0.28 g/t Au over 60m, including 0.92 g/t over 9m (eastern 65m step out; FG22-024C)
West
- 0.56 g/t Au over 50.29m (western expansion infill between 2020 drilling and FG21-004C; FG22-055R)
South
- 0.47 g/t Au over 7.62m (southern infill hole; FG22-065R)
- All drill results have now been received and a new mineral resource estimate (Q1 2023) and maiden Preliminary Feasibility Study ("PFS") (Q2 2023) are underway.
Highlights from previous results:
East
- Eastern expansion drilling successfully extended known mineralization 80 metres
- Expansion hole FG22-014C returned 0.94 g/t Au over 41m, including 1.67 g/t Au over 17m; Expansion hole FG22-016C returned 2.1 g/t Au over 16m
West
- Western expansion drilling successfully extended known mineralization 90 metres
- Expansion hole FG22-011C - 0.61 g/t Au over 66m, including 3.1 g/t Au over 5m; Expansion hole FG22-001C 0.55 g/t Au over 55m, including 1.1 g/t Au over 18.5m; Expansion hole FG21-004C 0.24 g/t Au over 156.6m, including 2.1 g/t Au over 7.4m
South
- Southern expansion drilling successfully extends known mineralization 350 metres
- Expansion hole FG22-022C returned 5.95 g/t Au over 9.14m;
- Expansion hole FG22-061R returned 2.4 g/t Au over 13.72m;
- Expansion hole FG22-050C returned 1.22 g/t Au over 38.59m, including 2.73 g/t Au over 10m
Infill
- Infill hole FG21-009C returned 0.61 g/t Au over 90m, including 0.92 g/t Au over 15.97m
Previously results were announced from the 2021-2022 drill program at
All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the most recent 19 holes are: 1.23 g/t Au over 36m, including 5.16 g/t Au over 7m (FG22-034C; North); 9.7 g/t Au over 3m (FG22-030C; North); 1.7 g/t Au over 12.19m (FG22-063R; North); 0.47 g/t Au over 224m (infill hole to test depth of mineralization; FG22-017C); 0.28 g/t Au over 60m, including 0.92 g/t over 9m (Eastern 65m step out; FG22-024C); 0.56 g/t Au over 50.29m (Western expansion infill between 2020 drilling and FG21-004C; FG22-055R); 0.47 g/t Au over 7.62m (Southern infill hole; FG22-065R) (see Figure 1 and Tables 1 and 2).
Table 1 – Significant Drill Results – All Remaining Drill Holes (East, West, South and Infill)*
DRILL | DEPTH (METRES) | DIP | AZIMUTH | FROM | TO | HIGHLIGHT |
FG22-017C | 409.19 | -90 | 360 | 19 | 243 | 224m @0.47 g/t Au |
Infill Deep | Including | |||||
20.27 | 24 | 3.73m @ 10.24 g/t Au | ||||
122.95 | 124.97 | 2.02 m @ 10 g/t Au | ||||
FG22-024C | 297.03 | -90 | 360 | 137 | 197 | 60m @ 0.28 g/t Au |
East | including | |||||
137 | 164 | 26m @ 0.44 g/t Au | ||||
149 | 158 | 9m @ 0.92 g/t Au | ||||
FG22-046C | 229.51 | -90 | 360 | |||
West | 170 | 201 | 31m @ 0.31 g/t Au | |||
FG22-054R | 198.12 | -90 | 360 | 3.05 | 6.1 | 3.05m @ 0.29 g/t Au |
West | 112.78 | 117.35 | 4.57 @ 0.37 g/t Au | |||
126.49 | 141.73 | 15.24m @ 0.87 g/t Au | ||||
170.69 | 173.74 | 3.05m @ 0.23 g/t Au | ||||
179.83 | 198.12 | 18.29m @ 0.18 g/t Au | ||||
FG22-055R | 204.22 | -90 | 360 | 30.48 | 47.24 | 16.76m @ 0.44 g/t Au |
West | 96.01 | 99.06 | 3.05m @ 3.72 g/t Au | |||
114.3 | 120.4 | 6.1m @ 0.24 g/t Au | ||||
124.97 | 132.59 | 7.62m @ 0.24 g/t Au | ||||
153.92 | 204.21 | 50.29m @ 0.56 g/t Au | ||||
FG22-059R | 82.3 | -90 | 360 | 4.57 | 15.24 | 10.69m @ 0.2 g/t Au |
West | 64.008 | 65.532 | 1.52m @ 0.47 g/t Au | |||
FG22-060R | 167.64 | -80 | 270 | 3.05 | 7.62 | 4.57m @ 0.4 g/t Au |
West | 57.91 | 62.48 | 4.57m @ 0.43 g/t Au | |||
132.59 | 138.68 | 6.1m @ 0.62 g/t Au | ||||
155.49 | 164.59 | 9.14m @ 0.83 g/t Au | ||||
FG22-062R | 161.54 | -90 | 360 | 27.43 | 28.96 | 1.52m @ 2.14 g/t Au |
West | ||||||
FG22-064R | 195.1 | -90 | 360 | 48.77 | 52.34 | 4.57m @ 0.3 g/t Au |
West | 164.59 | 195.07 | 30.48m @ 0.5 g/t Au | |||
including | ||||||
181.36 | 188.98 | 7.62m @ 1.05 g/t Au | ||||
FG22-065R | 176.8 | -90 | 360 | 80.77 | 83.82 | 3.05m @ 0.64 g/t Au |
South | 126.49 | 131.06 | 4.57m @ 0.65 g/t Au | |||
137.16 | 140.21 | 3.05m @ 0.6 g/t Au | ||||
163.07 | 170.69 | 7.62m @ 0.47 g/t Au | ||||
FG22-066R | 121.92 | -90 | 360 | 27.432 | 28.956 | 1.52m @ 0.83 g/t Au |
West | 45.72 | 82.3 | 35.58m @ 0.3 g/t Au | |||
Lost Hole | including | |||||
73.15 | 79.25 | 6.1m @ 0.78 g/t Au |
*Intervals are core-length. True width is estimated between 90-95 percent ("%") of core length. Using 0.15 g/t Au cut-off. 'C' denotes core hole; 'R' denotes RC (Reverse Circulation) hole. |
Table 2– Significant Drill Results – Lemhi North*
DRILL HOLE | DEPTH (METRES) | DIP | AZIMUTH | FROM | TO | HIGHLIGHT |
FG22-027C | 222.66 | -90 | 360 | 18 | 29 | 11m @ 0.3 g/t Au |
Including | ||||||
18 | 20 | 2m @ 0.89 g/t Au | ||||
102 | 103 | 1m @ 0.82 g/t Au | ||||
111.2 | 112 | 0.8m @ 1.8 g/t Au | ||||
FG22-030C | 226.47 | -90 | 360 | 22 | 23 | 1m @ 0.87 g/t Au |
30 | 32 | 2m @ 0.36 g/t Au | ||||
35 | 43 | 8m @ 0.3 g/t Au | ||||
48 | 49 | 1m @ 0.63 g/t Au | ||||
54 | 59 | 5m @ 0.31 g/t Au | ||||
75.13 | 78 | 2.87m @ 0.55 g/t Au | ||||
95.67 | 104 | 8.33m @ 0.32 g/t Au | ||||
110 | 113 | 3m @ 0.3 g/t Au | ||||
134.35 | 136 | 1.65m @ 1.15 g/t Au | ||||
146.98 | 148 | 1.02m @ 5.21 g/t Au | ||||
161 | 164 | 3m @ 9.7 g/t Au | ||||
192.62 | 193.7 | 1.08m @ 1.49 g/t Au | ||||
FG22-032C | 221.89 | -90 | 360 | 12 | 13 | 1m @ 4.34 g/t Au |
30 | 31 | 1m @ 0.81 g/t Au | ||||
64.05 | 68 | 3.95m @ 0.53 g/t Au | ||||
84 | 88.5 | 4.5 m @ 0.28 g/t Au | ||||
101 | 102 | 1m @ 0.84 g/t Au | ||||
110 | 111 | 1m @ 0.91g/t Au | ||||
138 | 139 | 1m @ 1.32 g/t Au | ||||
146 | 149 | 3m @ 0.76 g/t Au | ||||
184 | 186 | 2m @ 0.52 g/t Au | ||||
FG22-034C | 221.89 | -90 | 360 | 133 | 135 | 2m @ 3.6 g/t Au |
159 | 195 | 36m @ 1.23 g/t Au | ||||
including | ||||||
169 | 176 | 7m @ 5.16 g/t Au | ||||
FG22-042C | 192.63 | -90 | 360 | 53 | 54 | 1m @ 0.54 g/t Au |
72 | 81 | 9m @ 0.4 g/t Au | ||||
92 | 96 | 4m @ 0.32 g/t Au | ||||
117 | 121 | 4m @ 0.27 g/t Au | ||||
126 | 128 | 2m @ 0.38 g/t Au | ||||
137 | 143 | 6m @ 0.44 g/t Au | ||||
146 | 147 | 1m @ 0.48 g/t Au | ||||
162 | 164.74 | 2.74m @ 0.59 g/t Au | ||||
FG22-044C | 203.3 | -90 | 360 | 124 | 126 | 2m @ 0.57 g/t Au |
158 | 161 | 3m @ 3.26 g/t Au | ||||
178 | 185 | 7m @ 0.4 g/t Au | ||||
FG22-051C | 214.12 | -90 | 360 | 28 | 33 | 5m @ 0.15 g/t Au |
38 | 44 | 6m @ 0.22 g/t Au | ||||
FG22-063R | 152.4 | -60 | 270 | 27.432 | 28.956 | 1.52m @ 0.71 g/t Au |
123.44 | 135.63 | 12.19m @ 1.7 g/t Au |
*Intervals are core-length. True width is estimated between 90-95 percent ("%") of core length. Using 0.15 g/t Au cut-off. 'C' denotes core hole; 'R' denotes RC (Reverse Circulation) hole. |
Many of these areas are modelled as unmineralized due to lack of drilling in the initial maiden mineral resource estimate ("MRE"). The current MRE comprises an Indicated Mineral Resource of 22.94 million tonnes at 1.02 g/t Au for 749,800 oz of gold, and an Inferred Mineral Resource of 7.68 million tonnes at 1.01 g/t Au for 250,300 oz of gold (refer to press release dated
As of
All drill holes from the project have been logged, sampled and sent to the laboratory. All analytical results have now been received.
All drill core samples are sent to
Freeman also announces that it has granted stock options to certain directors and officers of the Company to acquire an aggregate of 2,325,000 common shares in the capital of the Company (the "Shares") at an exercise price of
On Behalf of the Company
President and Chief Executive Officer
Neither the
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 exploration, results therefrom, and the Company's 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 reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
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