VANCOUVER, BC, Dec. 4, 2025 /CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) (FSE: 3WU) ("Freeman" or the "Company") is pleased to announce that it has received results from three drill holes from the Southern Portion of the 2025 core drilling program (see Table 1) at the Lemhi Gold Project ("Lemhi" the "Project" or "Property").
- Drill hole FG25-001DD intercepted 3.1 g/t Au over 8.0m within a larger interval of 0.37 g/t Au over 98.4m;
- Drill hole FG25-002DD contains mineralization from surface including: 1.3 g/t Au over 4m, 1.37 g/t over 2.14m, and 1.6 g/t over 7.6m, within an interval of 0.3 g/t Au over 178.9m;
- Drill hole FG25-003DD intercepted 0.74 g/t Au over 9.1m within a larger interval of 0.24 g/t Au over 54m;
- The drilling was part of a combined RC and core drilling program designed to:
- convert the inferred ounces from the current mineral resource estimate ("MRE") (see Freeman's news release dated May 15, 2025) to either measured or indicated (approximately 1,820 metres in 23 drill holes) for those which are contained within the pit shell as designed as part of Freeman's Preliminary Economic Assessment ("PEA") (see Freeman's news release dated October 16, 2023); and
- the results will form the basis of an updated Mineral Resource Estimate (MRE) that will be included in the Lemhi Feasibility Study.
Bassam Moubarak, CEO, stated, "Freeman's 3,328-metre (RC: 2860m, Core: 468m) 2025 Feasibility Study drilling program was designed to convert in-pit resources on patented claims to Measured and Indicated and test the extent of mineralization. Drill results to date indicate gold mineralization continues beyond the patent boundaries in the south and north. We look forward to releasing the updated MRE in Q1 2026."
Table 1: Drill Results (Lemhi South)**
DEPTH |
||||||
DRILL HOLE |
(METRES) |
AZI |
DIP |
FROM (m) |
TO (m) |
HIGHLIGHT |
FG25-001DD |
170.69 |
240 |
-70 |
64 |
162.36 |
0.37 g/t Au over 98.36m |
including |
123 |
130.98 |
3.1 g/t Au over 8.0m |
|||
FG25-002DD |
209.7 |
215 |
-80 |
2.1 |
181 |
0.28 g/t Au over 178.9m |
including |
2.1 |
19.55 |
0.4 g/t Au over 17.45m |
|||
including |
66 |
70 |
1.3 g/t Au over 4.0m |
|||
including |
103 |
113.77 |
0.48 g/t Au over 10.77m |
|||
including |
139 |
148.27 |
0.46 g/t Au over 9.27m |
|||
including |
157 |
164.63 |
0.7 g/t Au over 7.63m |
|||
including |
167.26 |
169.4 |
1.37 g/t Au over 2.14m |
|||
including |
173.45 |
181 |
1.6 g/t Au over 7.6m |
|||
FG25-003DD |
87.78 |
340 |
-50 |
17 |
71 |
0.24 g/t Au over 54.0m |
including |
43.9 |
53 |
0.74 g/t Au over 9.1m |
**Intervals are drill run-length. True width is estimated between 90-95 percent ("%") of length. Using 0.15 g/t Au cut-off. 'DD' denotes DD (Diamond Drilling) hole. |
All drill samples were sent to ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada, an independent and fully accredited laboratory (ISO 9001:2008) for analysis for gold by Fire Assay. Freeman Gold has a regimented Quality Assurance, Quality Control ("QA/QC") program where at least 10% duplicates, blanks and standards are inserted into each sample shipment.
About the Company and Project
Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property. The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained National Instrument 43-101 ("NI 43- 101") compliant mineral resource estimate is comprised of 988,100 ounces gold ("oz Au") at 1.0 gram per tonne ("g/t") in 30.02 million tonnes (4.7 million tonnes Measured (168,800 oz) & 25.5 million tonnes Indicated (819,300 oz)) and 256,000 oz Au at 1.04 g/t Au in 7.63 million tonnes (Inferred). The Company is focused on growing and advancing the Project towards a production decision. To date, 525 drill holes and 92,696 m of drilling has historically been completed (Murray K., Elfen, S.C., Mehrfert, P., Millard, J., Cooper, Schulte, M., Dufresne, M., NI 43-101 Technical Report and Preliminary Economic Assessment, dated November 20, 2023; www.sedar.com).
The recently updated price sensitivity analysis (see Freeman's news release dated April 9, 2025) shows a PEA with an after-tax net present value (5%) of US$329 million and an internal rate of return of 28.2% using a base case gold price of US$2,200/oz; Average annual gold production of 75,900 oz Au for a total life-of-mine of 11.2 years payable output of 851,900 oz Au; life-of-mine cash costs of US$925/oz Au; and, all-in sustaining costs of US$1,105/oz Au using an initial capital expenditure of US$215 million*.
*Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary economic assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
The technical content of this release has been reviewed and approved by Dean Besserer, P. Geo., the VP Exploration for the Company and a Qualified Person as defined by the National Instrument 43-101.
On Behalf of the Company
Bassam Moubarak
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This press release contains "forward‐looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to, all statements related to the 2023 PEA, statements relating to exploration, results therefrom, and the Company's future business plans, and statements regarding the price sensitivity analysis and impact thereof on the evaluation of the Project's economic potential. All statements in this release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties, and assumptions. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
SOURCE Freeman Gold Corp.
For further information, please visit the Company's website at www.freemangoldcorp.com or contact Mr. Bassam Moubarak at by email at bm@bmstrategiccapital.com.
