In a news release, Fremont Gold Ltd. (FRE:TSX.V; FRERF:OTCQB; FR2:FSE) announced the results of three holes drilled at the past-producing Griffon project in Nevada, one of which intersected a "significant interval of near-surface oxide gold mineralization."
The highlight assay from that hole, GF-20-3, was 50.3 meters (50.3m) of 1.05 grams per ton (1.05 g/t) gold starting at 29m. The hole was drilled southwest of the Hammer Ridge Pit, where mineralization had been identified historically, and to a depth of 280m.
"Drill hole GF-20-3 met and exceeded our expectations. Thick, near surface, and oxidized, drill hole GF-20-3 reinforces our belief that Griffon holds tremendous opportunity for the discovery of a new Carlin-type deposit," CEO Blaine Monaghan said in the release.
The Canadian company noted that it achieved its three goals with hole GF-20-3. They were to confirm the historically identified mineralization, characterize the host rock and alteration in the gold intercept and intersect the Pilot shale at depth.
As for results of the other two drill holes, GF-20-2 returned 30m of 0.3 g/t gold, including 8m of 0.71 g/t gold, starting at 15 meters. The hole was drilled to a depth of 170 meters.
Drill hole GF-20-1 did not return any anomalous gold values.
These three holes are the first to be drilled at Griffon since the 1990s.
With hole GR-20-8 now being drilled, the Canadian company expects to complete the 10 phase 1 holes, over 2,000 meters of drilling, by the end of July.
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