It appears that Freeman Gold (TSXV: FMAN) may have spent some time drilling out the wrong area of its Lemhi property in eastern Idaho. The company this morning reported a bonanza-grade discovery just 600 metres west of its current gold deposit.
The company has intersected the highest-grade gold mineralization ever encountered by the company at the Beauty Zone, which is a 350 metres by 250 metre gold in rock and soil anomaly. Drilling, conducted in the fourth quarter of 2021, consisted of a total of three holes drilled from one setup, with just 328 metres drilled in aggregate.
Highlights from the results include:
- FG21-001C: 1.41 g/t gold, 18.1 g/t silver over 1.0 metre
- FG21-002C: 0.24 g/t gold over 1.0 metre
- FG21-003C: 68.23 g/t gold, 40.18 g/t silver over 6.0 metres, including 128.92 g/t gold and 75.59 g/t silver over 3.16 metres; 11.91 g/t gold and 16.21 g/t silver over 2.1 metres
The bonanza grade of 68.23 g/t gold and 40.18 g/t silver over 6.0 metres was discovered within the hanging wall side of a major fault. The program was initially focused on testing the continuity of veins mapped on the surface, where grab samples reported values of up to 460 g/t gold. Mineralization is said to have been found in stacked vein sets.
The zone is said to be open both to the north and northwest, with further drilling of the zone to now occur “as soon as logistically possible.” The follow-up drill program is currently slated for the second quarter of 2022.
Freeman Gold last traded at $0.49 on the TSX Venture.
Information for this briefing was found via Sedar and Freeman Gold. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.