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Freeman Gold Corp
Symbol FMAN
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Close 2021-03-11 C$ 0.49
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Freeman Gold drills 174.2 m of 0.9 g/t Au at Lemhi

2021-03-11 12:34 ET - News Release

Mr. William Randall reports


Freeman Gold Corp. has provided assay results of core from an additional 11 of 34 diamond drill holes on Freeman'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 holes drilled to date have intersected high-grade shallow oxide gold. Selected highlighted results from the additional 11 holes are 2.6 grams per tonne gold over 14.1 metres (FG20-005C); 1.6 grams per tonne gold over 86 metres, including 2.2 grams per tonne gold over 20.2 metres (FG20-007C); 0.9 gram per tonne gold over 174.2 metres, including 3.9 grams per tonne gold over 18.5 metres (FG20-008C); and 3.5 grams per tonne gold over 9.5 metres (FG20-013C). Gold mineralization extends to at least 210 metres and is open at depth. FG20-014C was drilled to test mineralization beneath the intrusion. Mineralization discovered below the intrusive unit encountered 1.2 grams per tonne gold over 21.8 metres demonstrating that the mineralization not only continues at depth but to the east. This drill hole was the easternmost hole drilled during the 2020 campaign. This new zone remains open on strike. In addition, drill hole FG201-008 ended in mineralization (181.93 metres to 182.97 metres contained 2.39 grams per tonne gold), suggesting either additional mineralized stacks at depth and or proximity to a feeder zone. The results are being interpreted by technical staff for future follow-up activities.

Will Randall, president and chief executive officer, commented: "These drill results continue to demonstrate the consistent high-grade, near-surface nature of the gold mineralization at Lemhi. We have now received assay results, which have exceeded expectations, for half of the holes drilled by Freeman. In particular, we are very pleased at the response to drill testing the high-grade structures, which are behaving in a consistent and predictable manner. We are also encouraged by FG20-014C, which is our first drill hole to explore possible repetitions of the flat-lying structures at depth below a predominant intrusive body. We now have confirmed that gold mineralization continues at depth and will be working on follow-up work to maximize this discovery."

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 kilometres to 30 kilometres wide) system of en echelon northeast-trending structures extending from the Boise basin more than 270 kilometres 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 has a regimented quality assurance/quality control 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 on Freeman's website. Drill holes are not analyzed in order but as shipments were logged in at the laboratory.

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

About Freeman Gold Corp.

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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