Gold Discoveries, Garimpeiros and a Gringo Bar

Source: James Kwantes for Streetwise Reports 04/10/2019

James Kwantes of Resource Opportunities profiles exploration geologist Dennis Moore and his company’s Nevada projects.

“Hello, you’ve reached Rock Bottom.”

It was the greeting for those calling Mongo’s Rock Bottom Cafe, the popular expat bar opened by exploration geologist Dennis “Mongo” Moore and a partner in La Paz, Bolivia. That was in the early 1990s, before Bolivia became a rather unfriendly place to explore for mineral deposits. At the time, the country was a thriving center for mineral exploration. And Mongo’s, in Bolivia’s capital city, was a gathering place for geologists and drillers from around the world.

It’s a curious name for a bar in a city situated 3,600 meters above sea level. But it may make perfect sense given the description of geology as “liquor and guessing”—immortalized in a Dilbert comic strip—combined with a sector in which gloomy lows are the companion to occasional euphoric highs.

These days, Moore is president of Fremont Gold Ltd. (FRE:TSX.V), a Nevada-focused exploration company focused on new discoveries and drilling for gold on the doorstep of McEwen Mining’s (MUX-T) Gold Bar mine in the Battle Mountain-Eureka-Cortez trend of northern Nevada.

Fremont is on the eve of a 1,000-meter drill program at Gold Canyon, one of the satellite pits to the original Gold Bar mine. The other satellite pits are owned by McEwen Mining, which comprise McEwen’s Gold Bar mine—expected to begin production this quarter. Fremont recently cut short a drill program at the original Gold Bar after the first three holes failed to intersect significant mineralization.

The company will also undertake a discovery drill program this summer at its North Carlin project at the northern end of the Carlin Trend. Drilling will target a gold and mercury soil anomaly that is coincident with a magnetic high. At least 1,000 meters of drilling is planned.

LOCKING UP LAND IN A TOP JURISDICTION

Last September, Fremont announced it had acquired the Roberts Creek claim block about a kilometer south of McEwen’s Gold Bar mine, taking its holdings in the neighborhood to 5,348 hectares. Recently concluded magnetic and soil surveys revealed geophysical and geochemical anomalies at Roberts Creek that coincide with multiple faults, according to a Feb. 22 Fremont news release.

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