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Freeman Gold Corp
Symbol FMAN
Shares Issued 81,340,454
Close 2021-01-12 C$ 0.57
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Freeman Gold drills 10 m of 14 g/t Au at Lehmi

2021-01-12 07:48 ET - News Release

Mr. William Randall reports


Freeman Gold Corp. has provided assay results of core from four of 34 diamond drill holes on Freeman Gold's 100-per-cent-owned Lemhi gold project located in Idaho. The objective of the 2020 phase 1 drill program was designed to confirm historical mineralization and allow the use of over 355 historical drill holes in a maiden National Instrument 43-101-compliant resource estimate. The drill program focused on infill and stepout drilling within the known mineralized body to increase confidence and maximize the potential resource.

All four holes intersected high-grade shallow oxide gold. Selected highlighted results from these first holes are 3.3 grams per tonne Au over 25 metres, including 5.4 g/t Au over seven m (FG20-001C); 3.4 g/t Au over 51.6 m, including 14 g/t Au over 10 m (FG20-002C); 3.2 g/t Au over 14.6 m (FG20-003C); and 1.8 g/t Au over 92 m, including 8.7 g/t Au over 7.7 m and 15.1 g/t Au over 4.3 m (FG20-006C). Gold mineralization extends to at least 200 metres and is open at depth. Of note, the high-grade zones lie within broader lower grade mineralized envelopes, such as 1.1 g/t over 189.1 metres (FG20-006C; see attached table). Drill holes reported in this press release cover an area of 150 by 50 metres of the Lemhi deposit.

                           Total                      Depth (m)                            Average grade
Drill hole ID           depth (m)              From               To           Int. (m)          (g/t Au)

FG20-001C                    247              28.0              53.0              25.0               3.3
incl.                                         32.0              41.0               9.0               4.0
and incl.                                     46.0              53.0               7.0               5.4
FG20-002C                    242               6.4              58.0              51.6               3.4
incl.                                         47.0              57.0              10.0              14.0
FG20-003C                    185              40.0              96.0              56.0               1.2
incl.                                         81.4              96.0              14.6               3.2
FG20-006C                    213              12.9             202.1             189.1               1.1
incl.                                         37.0             129.0              92.0               1.8
incl.                                         81.5              89.2               7.7               8.7
incl.                                         81.5              85.8               4.3              15.1

* Intervals are core length. True width is estimated between 90 and 95 per cent of core length.


Will Randall, president and chief executive officer, commented: "These initial results clearly demonstrate the high-grade nature of the Lemhi gold project, including project enhancing thick shallow high-grade oxide gold zones. This is a great start to the drill campaign confirming historically defined mineralization as well as providing a more comprehensive understanding of the gold mineralization and its controls."

Geologically, the Lemhi gold project lies within the Idaho-Montana porphyry belt, a northeast-trending alignment of metallic ore deposits and mines related to granitic porphyry intrusions. These extend northeasterly across Idaho and are related to the Trans-Challis fault system, a broad (20 to 30 km wide) system of en echelon northeast-trending structures extending from Boise basin more than 270 km into Montana. At Lemhi, gold mineralization is hosted in Mesoproterozoic quartzites and phyllites within a series of relatively flat-lying lodes consisting of quartz veins, quartz stockwork and breccias. Mineralized lodes are associated with low-angle faults, folding and shear zone(s). The mineralized zones have varying amounts of sulphides (pyrite, chalcopyrite, bornite, molybdenum and occasionally arsenopyrite) where free gold is common. Gold mineralization at Lemhi is open at depth and on strike.

All drill core and rock samples are sent to ALS Global Laboratories (geochemistry division) in Vancouver, Canada, an independent and fully accredited laboratory (ISO 9001:2008), for analysis for gold by fire assay and multielement induction coupled plasma spectroscopy (select drill holes). Freeman Gold has a regimented quality assurance, quality control (QA/QC) program where at least 10 per cent duplicates, blanks and standards are inserted into each sample shipment.

Core photos and drill sections can be found at the company's website. Drill holes are not analyzed in order but as shipments were logged in at the laboratory. Results from the remaining 30 drill holes are pending.

The technical content of this release has been reviewed and approved by Dean Besserer, PGeo, vice-president of exploration for the company and a qualified person as defined by the National Instrument 43-101.

About the company

Freeman Gold is a mineral exploration company focused on the development of its 100-per-cent-owned Lemhi gold property. The Lemhi project comprises 30 square kilometres of highly prospective land. The mineralization at the Lemhi project consists of shallow, near-surface primarily oxide gold mineralization that has been identified over 355 drill holes and is open at depth and in multiple directions. The company is completing an initial phase 1 diamond drill program for a maiden National Instrument 43-101 compliant resource estimate.

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