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Fremont Gold (TSXV: FRE) Announced a Non-Brokered Private Placement

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The company is raising gross proceeds of up to 1 million dollars with the placement of 20 million units priced at $0.05 per unit. Each unit consists of 1 share and 1 warrant, with each warrant exercisable at $0.10 cents for 36 months.

Additional Information:

Company: Freemont Gold
Website: http://www.FremontGold.net
Stock Symbol: TSXV: FRE
Date Published: Oct 16, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Fremont Gold has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1 million from the placement of up to 20 million units priced at $0.05 per unit.

The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 36 months.

The shares are currently trading at $0.05.

Net proceeds will be used on the company’s North Carlin and Cobb Creek properties in Nevada.

Palisades Goldcorp, a Canadian resource focused merchant bank, will be taking down $500,000 of the private placement.

Blaine Monaghan, CEO, stated: "I am very pleased to welcome Palisades as a new, significant shareholder of Fremont. Palisades' involvement will enable us to drill North Carlin, located at the northern end of the prolific Carlin Trend, later this fall, and conduct exploration at Cobb Creek, which hosts a historic resource, next spring. We are excited to get to work as we believe that there is excellent potential for the discovery of a Carlin-type deposit at both North Carlin and Cobb Creek."

Over 42 square kilometers in size, North Carlin is a large, underexplored gold project located at the northern end of the Carlin Trend, one of the richest gold mining districts in the world having produced over 84 million ounces of gold since the early 1960s.

Fremont has developed several drill targets based on soil geochemistry, gravity and geomagnetic surveys, and the projection of key faults that control gold mineralization in the Carlin Trend.

The company is permitting ten drill sites at North Carlin and plans to drill a minimum of 1,500 metres in a reverse circulation program commencing later this fall.

Cobb Creek is comprised of 167 unpatented mining claims and is located at the northern end of the Independence Trend.

Cobb Creek has not been drilled since 1992 and most of the historical drilling, which consisted of more than 140 drill holes, was very shallow.

Some of the better drill results include drill hole COBRC-3, which returned 15.3 metres of 2.86 grams per tonne gold started a just 13.7 metres, and COBRC-84, which returned 33.5 metres of 1.92 grams per tonne gold starting at 18.3 metres, including 12.2 metres of 4.09 grams per tonne gold.

The McCall deposit, one of the target areas within Cobb Creek, contains a historical mineral resource estimate.

As it is not NI 43-101 compliant, management is not relying on the numbers.

The company's Nevada property portfolio also includes Griffon, a past producing gold mine, and Hurricane, which has returned significant gold intercepts in past drilling.

For more information, please visit the company’s website at www.FremontGold.net, contact Blaine Monaghan, CEO, at 604-676-5664.

Investor Relations is handled by G2 Consultants, which can be reached at 778-678-9050 or by email at ir@FremontGold.net.

I’m Cassandra Bolinski for Investmentpitch Media