Business
Fremont Receives Exploration Permit for Urasar District in Northern Armenia
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2023) - Fremont Gold Ltd. (TSXV: FRE) ...
About this update from Hayasa Metals Inc.
[{"type":"text","content":"Fremont Receives Exploration Permit for Urasar District in Northern ArmeniaVancouver, British Columbia--(Newsfile Corp. - October 10, 2023) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE: FR20) (\"Fremont\" or the \"Company\") is pleased to announce that it has been granted an exploration permit comprising 33.8 km2 over the Urasar mineral district in northern Armenia. Historical Soviet data reveals a non-NI43-101 compliant resource totaling approximately 344K oz Au in the Russian C1+C2 category and 649K oz Au in the P category1 in two separate zones (See Fremont news release dated June 6, 2023).BackgroundThe Urasar project is located in the Lesser Caucasus Mountains, within the NW trending Seven-Amasi metallogenic zone, part of an intensely folded province containing ophiolites that represents the closure of the ancient Tethyan Sea. The belt contains a number of deposits including: the nearby Armanis mine with roughly 600,000 ounces gold equivalent pre-mining; the Archut deposit 30km to the SW with approximately 400,000 ounces gold equivalent; and most notably the Zod mine (also known as Sokt), a >7m ounce epithermal gold deposit. The Urasar project area is located seven kilometers south of the Armanis gold mine, on the same tectonic lineament that hosts the world-class Sotk mine.Figure 1. Urasar location in relation to nearby deposits and Fremont's Vardenis Cu-Au projectTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3169/183355_8b2c87e0742b2a5c_002full.jpgWorld Class Potential the Result of Regional ReconnaissanceThe area was first visited by Fremont management in September 2021, when Urasar was one of ten prospects evaluated and sampled. It was ranked the highest priority due to wide-spread surface alteration/mineralization and encouraging geochemical results that comprised eight surface rock chip and channel samples, ranging from a minimum of 0.123 g/t Au to a maximum of 12.5 g/t and averaging 2.65 g/t Au. Thirty follow-up rock chip samples were collected in November 2021 from other parts of the license area and returned an average of 0.75g/t Au and 6,285 ppm Cu.Figure 2. Exploration permit localityTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3169/183355_8b2c87e0742b2a5c_003full.jpgHistoric Soviet-era ExplorationPreviou...