Cal­i­for­nia Gold be­gins drilling at Fre­mont prop­erty

Stockwatch Daily - - MINES & METALS - Mr. Vishal Gupta re­ports

CAL­I­FOR­NIA GOLD Min­ing Inc. has pro­vided an up­date on the sta­tus of the re­source ex­pan­sion drill pro­gram at its flag­ship Fre­mont prop­erty in Mari­posa county, Cal­i­for­nia.

The main ob­jec­tive of the drill pro­gram is to gen­er­ate a sec­ond min­eral re­source on the prop­erty cov­er­ing the newly iden­ti­fied Queen Spec­i­men min­er­al­ized zone. This zone is lo­cated in the north­west por­tion of the prop­erty and con­sti­tutes roughly 750 me­tres of strike length, out of the to­tal four-kilo­me­tre strike of the Mother Lode shear zone on the prop­erty.

Vishal Gupta, Cal­i­for­nia Gold’s pres­i­dent and chief ex­ec­u­tive of­fi­cer, said: “We are ex­cited to ini­ti­ate the sec­ond large-scale drill pro­gram at Fre­mont, lo­cated in the heart of cen­tral Cal­i­for­nia’s Mother Lode gold belt — North Amer­ica’s orig­i­nal and most pro­lific gold rush district. The re­sults from this drill cam­paign will be in­cor­po­rated in a brand new min­eral re­source at Queen Spec­i­men that is ex­pected to add quite sub­stan­tially to the first min­eral re­source at Pine Tree-Josephine pub­lished last year. We an­tic­i­pate ini­ti­at­ing at least one more re­source ex­pan­sion pro­gram in the sec­ond half of 2018, as we con­tinue our bid to con­vert the vast ex­plo­ration po­ten­tial at Fre­mont into tan­gi­ble min­eral re­sources.”

The cur­rent drill pro­gram is ex­pected to be com­pleted in the sec­ond quar­ter of 2018. It will con­sist of 60 to 65 HQ-sized (2.5-inch di­am­e­ter) di­a­mond drill holes, to­talling 10,500 m to 12,000 m, with an av­er­age drill hole length of 180 m.

The com­pany’s cur­rent Na­tional In­stru­ment 43-101 min­eral re­source of 515,000 ounces grad­ing 1.71 grams per tonne gold in the in­di­cated cat­e­gory, and an ad­di­tional 364,000 ounces grad­ing 1.44 g/t gold in the in­ferred cat­e­gory, only en­com­passes the Pine Tree-Josephine zone within the prop­erty. The Pine Tree-Josephine zone hosts two his­tor­i­cal un­der­ground gold mines and cov­ers a strike length of roughly one kilo­me­tre, out of a to­tal strike of four kilo­me­tres over which the shear zone is in­ter­preted to ex­tend on the prop­erty.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Kevin Cinq-Mars, Pa­trick Joseph Cronin, Vishal Gupta, Larry Elias Phillips, Scott M Rasen­berg, Wil­liam Ralph Tom­lin­son

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