Freeman Gold (FMAN.C) released the results and interpretation of the 2020 field season, wherein the company’s field team collected in excess of 600 soil samples and almost 150 grab and channel samples. On top of that, a total of 565 line kilometers of ground magnetics were completed as well, and this covered pretty much the entire property. This resulted in a total of 11 high priority exploration targets on the property and Freeman Gold has provided an excellent summary of the targets and why they are appealing to the company.
Of the almost 145 grab samples, 54 samples returned a gold grade of in excess of 1 g/t gold and 20 samples even yielded a gold grade of in excess of 5 g/t gold with one sample returning 450 g/t gold. That makes a great headline but is not very relevant as the project doesn’t need these exorbitantly high grades to work as the upcoming resource update (which will be the starting point for studies to investigate the viability of the project) will likely have an average grade of 0.9-1 g/t and that should be more than sufficient in the current gold price environment. Consistency will be a key element for the Lemhi project, and we are looking forward to seeing the company tick the next few boxes with a resource calculation due this quarter.
Disclosure: The author has a long position in Freeman Gold. Freeman is a sponsor of the website. Please read our disclaimer.
