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Fremont Stakes Additional Lithium Targets in Nevada
Vancouver, British Columbia--(Newsfile Corp. - May 24, 2023) - Fremont Gold Ltd. (TSXV: FRE) (OTC...
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[{"type":"text","content":"Fremont Stakes Additional Lithium Targets in NevadaVancouver, British Columbia--(Newsfile Corp. - May 24, 2023) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE: FR20) (\"Fremont\" or the \"Company\") is pleased to announce that it has staked 600 lode claims for lithium-bearing clays and an additional 105 brine claims over two hydrologically enclosed caldera basins in central Nevada: the northern Diamond Valley and Tub project in the Crescent Valley.As described in the Company's news release of May 9, 2023, Fremont's exploration team headed by VP Exploration Dr. Clay Newton, has identified and staked enclosed, Li-prospective, basins in central Nevada, using the Thacker Pass deposit as a model. These two basin environments are previously unrecognized Eocene-age calderas; one in the northern end of Diamond Valley, which straddles the borders of Eureka and Elko Counties, hereafter referred to as the 'Diamond Caldera' and the Tub Project in Crescent Valley in Lander County.Figure 1. Diamond Caldera showing geology, caldera ring fractures, claim blocksTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3169/167271_7da09cfad495da72_002full.jpgFremont's VP Exploration Dr. Clay Newton explains, \"The two types of lithium deposits found in Nevada are lithium brines and lithium-bearing clays. Lithium brines are found in closed evaporative basins in which there is ample water inflow into the basin but no outflow. Lithium, boron, and alkali elements are residually enriched as the playa lake water evaporates.Lithium-bearing sediments, also common in arid evaporative basins, may also contain clays or salts which are enriched in lithium and boron and are frequently found as caldera lake sediments. The lithium is thought to be sourced from the leaching of adjacent or underlying caldera-fill rhyolitic tuffs. The best environments in the western US for forming both lithium brines and lithium-bearing clay deposits are enclosed calderas hosting rhyolitic volcanics.At the Diamond Caldera, the geology is remarkably similar to that reported for the Miocene-age McDermitt Caldera in Humboldt County, Nevada, which hosts the world-class Thacker Pass lithium deposit. It is an enclosed basin with no out-flowing stream. An arc of rhyolitic lavas thought to be resurgent magmas, which fueled hydrothermal fluids mo...