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Fremont Gold To Acquire Past Producing Griffon Gold Project from Liberty Gold
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2019) - Fremont Gold Ltd. (TSXV...
About this update from Liberty Gold Corp
[{"type":"text","content":"Fremont Gold To Acquire Past Producing Griffon Gold Project from Liberty GoldVancouver, British Columbia--(Newsfile Corp. - December 18, 2019) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink: USTDF) (\"Fremont\") is pleased to announce that it has entered into a purchase option agreement (the \"Agreement\") with Pilot Gold (USA) Inc. (\"Pilot\"), a wholly owned subsidiary of Liberty Gold Corp. (TSX: LGD), to acquire 100% of the past-producing Griffon gold project (\"Griffon\"), located in White Pine county, Nevada.Griffon highlightsLocation: Comprised of 89 unpatented mining claims, Griffon is located at the southern end of the Cortez Trend, approximately 75km southwest of Ely, and is accessed via paved highway and forest service roads (see Figure 1).Mineralization: Carlin-type and comparable to the mineralization found at the Emigrant/Rain mine and the Alligator Ridge mine (incorporated into Kinross Gold Corporation's Bald Mountain mine in the mid-1990s).Past exploration: First drilled in 1988, a limited amount of shallow drilling (214 drill holes in total) focused on delineating the Discovery Ridge and Hammer Ridge deposits, leaving the remainder of the property essentially untested.Past production: From 1997-1999, Alta Gold Co. (\"Alta\") produced approximately 90,000 ounces of gold (at an average grade of 1.03 grams/tonne) from Discovery Ridge and Hammer Ridge in an oxide heap-leach operation. Alta reported a number of unmined drill intercepts to the southwest of Hammer Ridge, including drill hole GR97-175 which returned 57.9 metres at 0.86 g/t gold (see Table 1), and proposed expanding Hammer Ridge before operations ceased.Metallurgy: Heap leach recovery tests conducted by Alta indicated that gold recovery from crushed material averaged 87.7%, versus 65% for run of mine material, over a six-month leach time.Exploration potential: Griffon hosts numerous gravity, soil, (see Figures 2 and 3), and stratigraphic targets. The Pilot Shale horizon - the primary gold host at Fiore Gold Ltd.'s nearby Pan Mine - has not been adequately tested, and the Joana/Chainman transitional horizon, which hosts gold at Griffon, may be concealed underneath and within the Blackrock fault (see Figures 4 and 5). Lastly, there is also potential in and around the pits, as demonstrated by drill hole GR97-175.Permitted: A Plan of Operations has been...