New Widespread Alteration At Cobb Creek

VANCOUVER - Fremont Gold Ltd. reported on exploration at Cobb Creek project in Elko County Nevada. The Cobb Creek project occurs at the northern end of the Independence trend, one of the most important gold belts in northern Nevada, and contains a non-N43-101 compliant, historical resource of 160,000 ounces of gold, named the McCall deposit. Fremont's recent structural and alteration mapping at Cobb Creek reveals widespread epithermal or high-level Carlin-style alteration, including wide zones of jasperoid-silica alteration and pervasive brecciation, which were previously unmapped or unrecognized, and most importantly, untested by drilling. These zones occur on the northeast and southeast portions of the 3,648 ha Cobb Creek claim block, within northwest and northeast striking structural corridors which in part intersect under volcanic cover, and define new untested target areas. Recent expanded ground magnetic surveys reveal volcanic cover that masks the magnetic response of potential prospective host rocks below the volcanic rocks. An expanded geochemical soil sampling program over the Cobb Creek area has also recently been completed.

Final results have been returned for three deep reconnaissance RC holes which were drilled within the Coyote and Alkali claim blocks, part of Fremont's North Carlin project. Coyote is located 6 km north of, and along-strike of Nevada Gold Mines/Premier Gold Mines' South Arturo mine and 12 km northwest of Nevada Gold Mines' Goldstrike mine, which hosts 11.1 million ounces gold in the measured and indicated category.

RC holes NR-1, NR-2 and NR-3 were drilled to 2,950, 1,995 and 1,320 feet respectively. Drill cuttings were composited into 25 foot intervals and selected zones were subsequently assayed for gold at the individual five foot intervals. All three holes returned significant intervals of anomalous gold and pathfinder elements in zones containing sulfides and altered dykes, but did not penetrate the more prospective "Lower Plate" lithologies due RC drilling depth limitations.

The presence of anomalous gold and pathfinder elements in upper plate rocks directly on trend of some of the largest Carlin-style gold deposits in the world suggests that the drilling may have intersected the weakly mineralized halo of a concealed Carlin-type gold deposit.