TSX-V:
FMAN
FWB:
3WU
OTCQX:
FMANF
Capital Structure
131,751,484
Common Shares Issued
** The above represents Freeman Gold’s capital structure as at Aug 14, 2023.
Analyst Coverage
Echelon Capital Markets
Videos
Investment
Highlights
- Maiden NI43-101 compliant mineral resource estimate (July 8th, 2021) defining high grade, oxide, near surface gold deposit open in all directions:
- 749,800 oz Au at 1 .02 g/t in Indicated category
- 250,300 oz Au at 1 .01 g/t in Inferred category
- 100% Owned Advanced Project located in Idaho (USA), a top ranked mining jurisdiction
- Phase 2 2022 drill program completed >13,000 meters of infill and expansion drilling over 57 holes; successfully increased east-west strike length by >200m with just over half the holes reported – assays pending on another 36 holes
- Permitting advantage: open pit, leachable resource primarily on privately owned patented ground
- Awarded water rights for both mining and domestic use
- Initial metallurgical testing indicates excellent gold recoveries between 95% and 98% using traditional CIL/CIP with gravity circuit
- Engaged Ausenco Engineering Canada Inc., a tier 1 engineering firm, to complete a Preliminary Economic Assessment (“PEA”) in Q1/Q2 2023, including an updated resource estimate
- Top tier management team with impressive track record of success in the mining industry
- Well funded ($7.8 million cash position) for fast-track development of the Lemhi Project, including ongoing 15,000m drill program
- Maiden NI43-101 compliant mineral resource estimate (July 8th, 2021) defining high grade, oxide, near surface gold deposit open in all directions:
Value Proposition
- From asset purchases, to M&A, to strategically entering the state, it is clear that Idaho is one of the most sought after gold mining jurisdictions.
- The peer comparables demonstrate that there is a premium for a US based gold company with 1.5-2m oz.
- Highly experienced management team.
- The majority of historical drilling was done via RC, many holes ended in mineralization.
Looking Forward
PHASE 1 COMPLETE
- 7,149m of oriented diamond drilling designed to upgrade historic resource estimate with initial twin and infill drilling within the main zone completed in 2020
- Maiden NI43-101 compliant resource completed July 2021
- Extensive historical data compiled and integrated to database
- Metallurgical testing program nearing completion, using 2012 and 2020 drill core
- Regional ground exploration program completed, generating 11 high quality targets, many of which are newly discovered areas.
PHASE 2 TO FOLLOW
- Second phase of drilling will commence targeting brownfields intercepts on strike and at depth
- This round of drilling will focus on areas outside of the initial resource already identified by historical drilling
- Target is to increase the maiden compliant resource to 1.5M-2M oz of contained gold
FAST TRACK TO PRODUCTION; THE LEMHI ADVANTAGE
- Over 90% of known mineralization located within patented claims, offering a distinct permitting advantage
- Studies and work completed by previous operators offer a superior starting point
- Metallurgical testing indicates excellent leach response amenable to heap leach or column leach processing
