Business
Fremont Gold Enters into Option Agreement to Acquire 100% of Advanced-Stage Cobb Creek Gold Project
Vancouver, British Columbia--(Newsfile Corp. - September 30, 2019) - Fremont Gold Ltd. (TSXV: ...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Fremont Gold Enters into Option Agreement to Acquire 100% of Advanced-Stage Cobb Creek Gold ProjectVancouver, British Columbia--(Newsfile Corp. - September 30, 2019) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink: USTDF) (\"Fremont\") is pleased to announce that it has entered into an option agreement (the \"Option Agreement\") with Clover Nevada II, LLC (\"Clover\"), a wholly owned subsidiary of Contact Gold Corp. (TSXV: C), to acquire a 100% interest in the advanced-stage Cobb Creek gold project (\"Cobb Creek\") located in Elko county, Nevada.Cobb Creek highlightsHistorical mineral resource estimate: The McCall deposit, one target area within Cobb Creek, contains a historical mineral resource estimate (not NI 43-101 compliant) which is set out in the table below.ResourceMineralizedCut-Off GradeOuncesClassificationZone(opt)Tons(opt)GoldIndicatedOxide0.011,362,2330.0454,864IndicatedSulphide0.012,378,0000.05118,134 The historical mineral resource estimate (\"Historical Estimate\") was performed by and reported in a technical report prepared by Michael R. Pawlowski for Stacatto Gold Resources Ltd. and dated October 30, 20041. The Historical Estimate is based on a total of 72 drill holes with continuous zones of gold assays above 0.01 opt gold that could be reasonably interpreted to be continuous in three dimensions based on the construction of nine cross sections, 200 feet apart. The methodology employed in the Historical Estimate is detailed in the 2004 technical report by Pawlowski1. A qualified person has not done sufficient work to classify the Historical Estimate as a current mineral resource or mineral reserve and Fremont is not treating the Historical Estimate as a current mineral resource or mineral reserve. In order to consider the Historical Estimate as current mineral resources or mineral reserves, Fremont needs to retain a qualified person to verify historical drilling and assaying methods and validate historical results, add any drilling and assaying or other pertinent geological information generated since the last estimation, and complete an updated resource estimate and a new technical report. Historical exploration: Cobb Creek has not been drilled since 1992 and most of the historical drilling (over 140 drill holes) was very shallow. Some of the better drill results include drill hole COBRC-3, which ret...