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Tuesday, May 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Freeman Gold expands high grade gold mineralization at Beauty Zone, Idaho

The drill holes were designed to test mineralization along the strike and down dip of the known discovery hole FG21-003C

Freeman reports significant increase in grade at its Idaho Lehmi project
Lehmi pass in Idaho where the Lehmi program is located. Photo by United States Forest Service - USDA Forest Service

Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) found high-grade gold and silver results from its five diamond drill holes and three reverse circulation holes at its mining project in Idaho, United States.

On Tuesday, the company announced the results from its drill program at its newly discovered Beauty Zone where old mineralization extends approximately 150 metres along strike and 115 metres down dip and is open at depth and along strike to the north.

The drill holes were designed to test mineralization along the strike and down dip of the known discovery hole (FG21-003C) which returned 6 meters at 68.23 grams per tonne gold and 40.18 grams per tonne silver including 3.16 meters at 128.92 g/t gold and 75.59 g/t silver.

The drill section and long section attached show the continuous nature of the zone downdip. The zone does continue to exhibit structural complexity and poor recoveries due to the faulting.

All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the eight holes are:

  • 4.2 m @ 3.2 g/t Au, including 0.6m @ 19.6 g/t Au (FG22-013C)
  • 2.0m @ 1.4 g/t Au, including 0.5m @ 4.7 g/t Au
  • 10.4 g/t Ag and 1.94 per cent copper (FG22-020C)
  • 0.9m @ 4.3 g/t Au, 22.6 g/t Ag 1.6 per cent Cu (FG22-026C)
  • 12.19m @ 1.49 g/t Au, including 1.52m @ 8.04 g/t Au (FG22-056R)

The Beauty Zone is part of a 350 metre by 250 metre coincidental gold-in-rock and soil anomaly which is open to the south, southwest and east.  Drilling now shows three distinct mineralized zones – upper, main and lower zones.

Freeman Gold expands high grade gold mineralization at Beauty Zone, Idaho

Beauty Zone drill section. Graph via Freeman Gold.

Read more: Freeman Gold extends Lemhi shallow oxide gold mineralization

Read more: Freeman Gold completes multi-phased drill program in Idaho, expands gold mineralization area

“We are excited to have demonstrated the continuity of the high-grade mineralization along strike and at depth at the Beauty Zone,” executive chairman Paul Matysek said.

“The zone occurs near the surface and in close proximity to our core Lemhi project. We will look at the Beauty Zone as additional high-grade ounces that may be incorporated into our PEA.”

Freeman Gold is a mineral exploration company focused on the development of its fully owned Lemhi Gold property. The project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource.

Freeman Gold stock went up by 10.64 per cent on Tuesday to $0.26 on the Canadian Venture Exchange.

Read more: NevGold issues $1.5M in shares to GoldMining Inc. for Nutmeg Mountain project

Read more: NevGold should be trading at a premium to peers: Analysis

NevGold Corp. (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is another gold mining company headquartered in Vancouver with operations in Idaho. It recently announced it received approval of its exploration notice permit from the Bureau of Land Management (BLM) at the Nutmeg Mountain gold project.

The project at Nutmeg Mountain hosts an estimated 910,000 indicated ounces of gold (43.5 Mt @ 0.65 g/t Au) and 160,000 inferred ounces of gold (9.1 Mt @ 0.56 g/t Au). The approval will enable disturbance of the federal unpatented mining claims at the project, which earlier has meant only limited drilling historically.


NevGold is a sponsor of Mugglehead news coverage


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