Based on the results of two phases of drilling, an independent calculation pegs the resource of the Resguardo gold property in northern Chile at 6.8 million tonnes averaging 1 gram per tonne.
Fremont Gold (FGLD-G) tested the property with four diamond and 23 reverse-circulation drill holes over a 3-km-long segment of the Atacama fault. The company cautions that the calculation is preliminary, as the holes are widely spaced.
The resource, which was calculated by geologist Gregory Crowe, is contained in blocks of mineralization starting from surface.
The Resguardo property covers a 16-km strike length of the Atacama fault, a major structure in northern Chile on which several economic deposits are found. Local miners have worked vein systems that outcrop on the property.
Fremont also is exploring its Laka property, which is adjacent to the Andacollo gold mine near La Serena. A drilling program will begin at Laja before year-end, with work aimed at testing possible extensions of the mineralized structures at the Andacollo mine.
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