Freeman Gold Corp (CSE: FMAN) has hit visible gold in Idaho. The company provided a market update this morning in relation to its ongoing drill program, which to date has conducted a total of 16 drill holes that total 3,328 metres via two drill rigs that are on site.
Notably, the company has indicated that each hole conducted thus far has intersected mineralization on the property, which is said to be consistent with the current geological model. Extensive gold mineralization horizons have been confirmed on the property, with multiple instances of visible gold being found in the drill core. Samples are currently awaiting assay results.
The current program being conducted at the Lemhi Gold project in Idaho is 5,000 metres in size, with approximately 2,000 metres remaining to be conducted. Designed to include 33 drill holes, the program has a number of priorities, including twinning certain holes, completing infill drilling along sections, conduct interpretation of mineralization, completing initial bench scale metallurgy, and finally to complete a maiden NI 43-101 compliant resource estimate.
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In addition to drilling, ground exploration is also ongoing. To date, 141 rock grab and channel samples have been conducted, along with 633 soil samples and 181 line-kilometres of ground magnetics, and finally, a 1.4 square kilometre IP survey.
“Our Phase 1 drill campaign is successfully underway and is confirming our understanding of the mineralization and geology of the Lemhi Gold Project. The mineralization is generally flat lying within Proterozoic metasediments. Quartz veining, silicification, brecciation and faulting dominate the mineralized zones and are oxidized from surface. Results have so far matched historical logs closely. Multiple flat lying, high grade zones, often containing visible gold, are stacked and may constitute a bulk tonnage target.”
Will Randall, CEO
Freeman Gold last traded at $0.54 on the CSE.
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