Freeman Gold Corp. Updates Fiscal 2025 Activities for Lemhi Gold Project, Expects Feasibility Study Completion in Late Q1 2026.

Freeman Gold Corp. has provided a corporate update on fiscal 2025 activities for the Lemhi Gold Project. The company has embarked on several activities to support a Feasibility Study, including a metallurgical program, expansion and infill drilling, geotechnical work, and updated pricing assumptions. The Preliminary Economic Assessment outlined a high-grade, low-cost open pit operation with an average annual production of 80,100 ounces of gold in the first eight years. With updated pricing assumptions, the post-tax NPV5% is US$329 million, a post-tax IRR of 28.2%, and payback of 2.9 years.

Freeman Gold Corp. (TSXV: FMAN) has initiated its 2025 geotechnical work program at the Lemhi Gold Project, as announced on May 20, 2025. This program, which includes borehole drilling, test pit excavation, in-situ materials testing, and geophysical surveys, aims to gather subsurface data for the feasibility study of the project [1].

The geotechnical work program is designed to evaluate mine infrastructure foundation conditions, support the design of co-placement storage facilities, open pit, and process plant, assess soil and groundwater conditions, and identify potential geotechnical and geological risks. The program will also involve laboratory testing to evaluate the physical and mechanical properties of soil and rock [1].

The Lemhi Gold Project, located in Lemhi County, Idaho, USA, comprises 10 patented mining claims, one patented mill site claim, and 332 unpatented mining claims, totaling 2,727 hectares of mineral rights and 249 hectares of surface rights. Freeman Gold Corp. controls a 100% interest in all 11 patented claims and all 332 unpatented mining claims [1].

The company's recent activities also include a metallurgical program, expansion and infill drilling, and updated pricing assumptions. The Preliminary Economic Assessment (PEA) outlined a high-grade, low-cost open pit operation with an average annual production of 80,100 ounces of gold in the first eight years. With updated pricing assumptions, the post-tax NPV5% is US$329 million, a post-tax IRR of 28.2%, and a payback of 2.9 years [2].

The geotechnical work program is expected to provide valuable data for the feasibility study, which is currently being prepared by Ausenco. The field exploration program is being conducted within the proposed facility footprint, guided by prior preliminary economic assessment design layouts, and is limited to the patented claim boundaries [1].

References:
[1] https://www.newswire.ca/news-releases/freeman-gold-commences-feasibility-level-geotechnical-work-program-at-the-lemhi-gold-project-842624059.html
[2] https://www.marketscreener.com/quote/stock/FREEMAN-GOLD-CORP-133120120/