Freeman Expands Lemhi Gold Deposit to 1.22 Moz Measured and Indicated at 0.79 g/t in 48.310 Million Tonnes in Updated Resource Estimate
Original announcement by tmx on
- Company
- Freeman Gold Corp.
- Ticker
- FMAN
- Exchange
- TSX
- Region
- Idaho, USA
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-17 22:57:41 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Freeman Gold Corp. has updated the Lemhi Gold Project Mineral Resource Estimate, expanding the Measured and Indicated (M&I) gold resource to 1.22 million ounces at 0.79 g/t across 48.31 million tonnes. This represents a 233,000 ounce increase in M&I compared to the 2023 estimate, driven by infill and expansion drilling. The resource is constrained within a conceptual open pit and remains open in multiple directions.
Reasoning: The update shows substantial growth in M&I gold ounces through successful infill drilling and expansion, de-risking the project ahead of an upcoming Feasibility Study.
Positive factors
- Significant M&I gold ounce increase of 233,000 oz vs 2023 MRE
- Successful conversion of Inferred to M&I (84,000 oz)
- Resource remains open in multiple directions (strike and depth)
- High recovery assumption (96.2%) supports economic potential
Negative factors
- Resource is currently undiluted and constrained within a conceptual pit shell
Facts used in scoring: 3
Classification and evidence
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: M&I gold ounces increased by 233,000 oz compared to the 2023 MRE.
Evidence · text
“Freeman has increased M&I by 233,000 Au oz versus the 2023 MRE.”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: 84,000 oz were upgraded from Inferred to M&I.
Evidence · text
“Of this increase, 84,000 oz were upgraded from Inferred to M&I”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Michael Dufresne of APEX Geoscience Ltd. is named as the responsible Qualified Person.
Evidence · text
“Mr. Michael Dufresne, M.Sc., P.Geol., P.Geo., of APEX Geoscience Ltd., is an independent Qualified Person (" QP ") and is responsible for the MRE.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The MRE is reported in accordance with NI 43-101 requirements.
Evidence · text
“The 2026 Lemhi MRE is classified and reported in accordance with Canadian Securities Administrators' National Instrument 43-101”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The reporting cut-off grade of 0.20 g/t Au is clearly stated.
Evidence · text
“using a 0.20 gram per tonne ("g/t") gold ("Au") cut-off”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The source explicitly discloses a revised resource estimate
Evidence · text
“Updated Resource Estimate”
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Resource Estimates (3)
measuredLemhi Gold Project · goldTonnes: 8356000Grade: 0.92Grade Unit: g/tContained Metal: 247000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lemhi Gold Project
- Commodity
- gold
- Region
- usa_id
- Reported Region
- Idaho, USA
- Ticker
- FMAN
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Dufresne
- Resource group id
- resource:8cf95c717f445e599fab
- Deposit or zone
- Lemhi
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 8356000
- Grade
- 0.92
- Grade Unit
- g/t
- Contained Metal
- 247000
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-01-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-05T00:00:00.000Z
Reasoning: Standard measured resource component of the updated MRE.
Evidence · table
“0.92”
Context: 8,356,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLemhi Gold Project · goldTonnes: 39954000Grade: 0.76Grade Unit: g/tContained Metal: 974000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lemhi Gold Project
- Commodity
- gold
- Region
- usa_id
- Reported Region
- Idaho, USA
- Ticker
- FMAN
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Dufresne
- Resource group id
- resource:51bf06f0e2cd56829e2e
- Deposit or zone
- Lemhi
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 39954000
- Grade
- 0.76
- Grade Unit
- g/t
- Contained Metal
- 974000
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-01-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-05T00:00:00.000Z
Reasoning: Major component of the M&I resource.
Evidence · table
“0.76”
Context: 39,954,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLemhi Gold Project · goldTonnes: 10683000Grade: 0.7Grade Unit: g/tContained Metal: 240000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lemhi Gold Project
- Commodity
- gold
- Region
- usa_id
- Reported Region
- Idaho, USA
- Ticker
- FMAN
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Dufresne
- Resource group id
- resource:e130626b3d6f29a2a678
- Deposit or zone
- Lemhi
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 10683000
- Grade
- 0.7
- Grade Unit
- g/t
- Contained Metal
- 240000
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-01-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-05T00:00:00.000Z
Reasoning: Inferred resource component.
Evidence · table
“0.70”
Context: 10,683,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.