Fremont Gold Ltd. (FRE:TSX.V; FRERF:OTCQB; FR2:FSE) announced today in a news release, that the company "plans to drill the North Carlin gold project located at the northern end of the prolific Carlin Trend, Nevada."
The company advised that North Carlin is a an underexplored gold project that encompasses greater than 42 square kilometers. The company noted that North Carlin is situated in a prime geological setting and is highly prospective for the discovery of a major gold deposit.
The firm pointed out that the Carlin Trend has produced over 84 million ounces (Moz) of gold since the early 1960s, making it one of the world's richest gold mining districts. Fremont Gold noted that the nearby Nevada Gold Mines' Carlin Complex contains a Measured & Indicated resource of 30 Moz Au.
The firm stated that North Carlin lies around 6 km north of the South Arturo mine owned by Premier Gold Mines and Nevada Gold Mines. The company advised that recent drilling activity at South Arturo intersected 39.6 meters of 17.11 g/t Au. North Carlin is also located about 12 km north of Goldstrike mine owned by Nevada Gold Mines, which that hosts a Measured & Indicated resource of 11.1 Moz Au. Fremont added that the western edge of North Carlin is approximately 6 km east of Hecla Mining's Hollister silver-gold mine.
Fremont stated that it has identified several drill targets based on soil geochemistry, gravity and geomagnetic surveys, and the projection of key faults that control gold mineralization in the Carlin Trend.
The company indicated that it is now involved in the process of permitting 10 drill sites at North Carlin and plans to drill at least 1,500 meters in a reverse circulation program beginning later this year.
The firm announced that it will be hosting a webinar open to the public on Thursday, October 8, at 11 a.m. EDT where it will discuss and elaborate on its exploration plans for North Carlin.
The company's CEO Blaine Monaghan commented, "We are very excited to start drilling North Carlin...In terms of periodicity and alignment, the Project is strategically located at the northern end of the Carlin Trend. Based on North Carlin's geological setting and the exploration results to date, we believe that it holds excellent potential for the discovery of a new Carlin-type deposit."
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