Fremont Gold (FRE.V) is ready to get back in the field as the company is preparing for its spring drill program at Gold Canyon, which borders McEwen Mining’s (MUX, MUX.TO) Gold Bar mine. In fact, McEwen has been exploring its own tenements just across the border, so it will be interesting to see the assay results Fremont Gold will be able to pull out of the ground. As we discussed in previous reports and updates, Fremont Gold has identified three soil anomalies (Gold Ridge, French Trail and the old stockpile) thought an extensive sampling program, and the May drill program is designed to follow up on those anomalies.
Once the Gold Canyon drill program will be completed, Fremont will almost immediately start drilling its North Carlin target. Two of the three claim blocks (Alkali & Coyote) were staked by Fremont Gold in 2017 to expand the Rossi claim, which is located directly next to the Rossi gold mine, the most northern gold mine in the Carlin Trend.
The results of a gold in soil anomaly and magnetic anomaly (whereby the gold and mercury anomalies occur right on the northeastern side of the magnetic anomaly) indicate ‘the presence of gold mineralization beneath alluvial cover’, and Fremont plans to drill two deep holes (500 meters each) to drill-test this target.
Unfortunately the Gold Bar drill program didn’t go as planned, as all three holes were terminated without intersecting any noticeable gold mineralization. The first hole (which was aimed at testing a geochemical anomaly that could have indicated an extension to the historic Gold Bar mine) didn’t encounter bedrock and had to be abandoned. The other two Reverse Circulation holes were trying to hit a potential feeder system and although Fremont did encounter two mineralized faults, the drill bit hit large void spaces in the first hole while the second hole also encountered open fractures resulting virtually no sampling results. No further drilling will happen on this zone as the low-grade gold intervals don’t justify any additional holes.