Freeman Gold Corp (CSE: FMAN) this morning revealed that it believes additional gold is yet to be discovered at its Lemhi Gold property in Idaho. The company has recently discovered a new zone, referred to as the Beauty Zone.
The new zone is said to sit 600 metres to the west of the Lemhi Gold deposit, which earlier this year had its maiden resource released. The zone is said to currently be 350 metres by 250 metres in size and open in three directions, with the discovery made via soil anomalies.
To date, 105 rock grab samples and 347 soil samples have been collected from the Beauty Zone, of which 52 samples had values higher than 1 g/t gold, of which 39 sampled higher than 5 g/t and 28 sampled higher than 10 g/t gold. The strongest sample reportedly assayed at 450 g/t gold.
Silver is also said to have been found in the samples, unlike the Lemhi deposit. 48 out of the 105 rock grab samples collected reportedly had higher than 10 g/t silver, with the largest assay coming in at 219 g/t silver. Mineralization is said to be contained within quartz veins.
Drilling is currently planned for the new zone, with drill pads in the process of being constructed. Outcrops meanwhile are being sampled presently, with rock channel samples being taken. The size of the overall exploration program was not provided.
Freeman Gold last traded at $0.44 on the CSE.
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