Freeman Gold (FMAN.V) has released the assay results of eight additional holes which were drilled on the Beauty Zone to follow up on the previously discovered ultra-high-grade interval of 3.16 meters containing almost 129 g/t gold and just over 75 g/t silver.
The company reported on all eight holes (three RC holes for a total of 509 meters of drilling and five holes of core drilling for a total of 722 meters) and Freeman was able to confirm the high grade gold intervals in some of the holes. Hole FG22-020C encountered 0.5 meters of 4.7 g/t gold while hole 13C intersected 0.6 meters containing 19.6 g/t gold. Hole 56R is also interesting as it encountered 1.52 meters of 8.04 g/t gold within a broader interval of 12.19 meters of 1.49 g/t gold (which means the average gold grade of the residual 10.67 meters was approximately 0.56 g/t gold.
The recent drilling has now confirmed the mineralization for about 150 meters along strike and approximately 115 meters on dip. The gold-bearing mineralization remains open along strike and down dip so Freeman should be able to add some tonnes and ounces at Beauty to upgrade the overall picture of the Lemhi Gold Project ahead of a maiden economic study.
The Phase III drill program at Lemhi has now been completed and the assay results from the final 19 drill holes have been published. The company completed just under 14,000 meters of drilling on the main open pit and those holes were designed to infill certain parts of the gold deposit in an attempt to requalify rock that is currently classified as ‘waste’ into mineable ore. This should have a positive impact on the total resource and on the economics of the project as suddenly a few million tonnes of waste can be upgraded to economic mineralization.
Disclosure: The author has a long position in Freeman Gold. Please read our disclaimer.