Fremont Gold Commences Urasar Exploration Program in Armenia
Vancouver, British Columbia–(Newsfile Corp. – April 8, 2024) – Fremont Gold Ltd. announced the commencement of the 2024 exploration program at the Company’s 100% owned Urasar Project in northern Armenia. The Company also announced the appointment of Dr. Fiona Childe as an advisor.
Dennis Moore, President and CEO of Fremont states, “Over the last two years the Company has assembled a portfolio of highly prospective copper-gold projects in the Central Tethyan Mineral Belt in Armenia. This portion of one of the world’s major metal producing belts is vastly underexplored and has tremendous potential for the discovery of Tier One precious and critical metal deposits. Moreover, we continue to evaluate significant advanced-stage projects within the region to add to our existing project portfolio.”
Mr. Moore continues, “The Fremont team is excited to commence our 2024 exploration program at Urasar. The Project hosts a 14-kilometer long, intensely altered and mineralized zone, indicating the presence of a large hydrothermal system. Past exploration has identified three mineralized bodies with historic (non-National Instrument 43-101 compliant) resource estimates.”
Initial 2024 Urasar Work Program
The initial 2024 work program at Urasar is planned to include:
- A ground magnetometer geophysical survey over the license area at 200m line spacing
- Infill soil sampling as a follow-up to the Company’s 2023 geochemical survey
- Trenching over surface mineralized areas
- Upgrades to the existing road network to facilitate access.
The objective of this work is to prioritize key targets for further surface work and drill testing later in the 2024 field season.
Figure 1. Planned ground mag grid at Urasar and existing road network
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Figure 2. Copper soil geochemical results from 2023, with additional soil
geochemical survey points planned for this year
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About Urasar
Urasar is a 100% Fremont-owned exploration permit located in the Central Tethyan Belt of northern Armenia. The 3,380 ha Project was first worked by the French in 1914-17, who opened five adits and mined 16,000 tonnes grading 11-12% copper. The second and third phases of exploration were carried out by Soviet teams from 1928 to 1938 and resulted in approximately ten more adits targeting pyritic copper mineralization. Urasar was last worked from 1956 to 1960 by Soviet exploration teams which identified three gold-rich polymetallic mineralized zones and four soil geochemical anomalies over a 14 km strike length. This historic work by the Soviets outlined a non-National Instrument 43-101 compliant mineral resource with a combined 653 thousand ounces (“koz“) Au in the Russian C1+C2 category and 1,054 koz Au in the P category across three separate zones.
Historic drilling from this latter period includes Yellow River hole #1, the only hole drilled on this target, which bottomed in 25 m of 1.27% Cu, from 209 to 234 m vertical depth[3]. In addition to this significant intercept, values of up to 0.77% Cu were returned higher up in the hole.
Initial fieldwork by Fremont in late 2023 confirmed a robust and continuous gold and copper soil anomaly over a 14 km strike length, with values of up to 449 ppb Au. This work has defined three distinct mineralized zones anomalous in gold, copper, molybdenum and arsenic. For additional information see the Fremont news releases dated February 5 and March 1, 2024.
