Vancouver-based Fremont Gold (FGLD-Q.OTC) is encouraged by results from preliminary drilling on the Resguardo gold project in northern Chile.
Highlights include: hole 97-3, which encountered 21 metres grading 4 grams gold per tonne starting at a depth of 26 metres; hole 96-1, which returned 25 metres of 1.26 grams starting at a depth of 56 metres; hole 97-1, which intersected 13 metres of 1.1 grams per tonne; and hole 97-2, which returned three intervals exceeding 3 metres grading more than 1 gram, at a depth of 68 metres.
A second phase of reverse-circulation drilling is scheduled for April.
The 16,000-ha property is marked by surface workings and covers a 16-km strike length along the Atacama fault zone, a major structure which is believed to control mineralization.
The company owns a 99-year lease on the Resguardo property, with annual payments pegged at US$275,000 for the first three years.
Be the first to comment on "LATIN AMERICA — Fremont to step up drilling in Chile"