Freeman Gold Delivers Feasibility Study for the Lemhi Gold Project Confirming 1 Million¹ Ounce Proven and Probable Reserve, US$696 Million Post Tax NPV(5%), 34.4% IRR and 15-Year Mine Life Using Base Case $3,650/oz Au
Original announcement by yahoo_press on
- Company
- Freeman Gold Corp.
- Ticker
- FMAN
- Exchange
- TSXV
- Region
- Idaho, USA
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-08-20 21:23:42 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Freeman Gold Corp. has released a Feasibility Study for the Lemhi Gold Project in Idaho, confirming 1 million ounces of Proven and Probable reserves. The study reports a post-tax NPV(5) of US$696 million and an IRR of 34.4% based on a gold price of $3,650/oz.
Reasoning: The announcement of a Feasibility Study confirming a 1 million ounce reserve with high IRR and NPV is a major de-risking milestone for a gold project.
Positive factors
- Confirmed 1 million ounce reserve
- Strong economic metrics (34.4% IRR, $696M NPV)
- NI 43-101 compliant study
Facts used in scoring: 2
Classification and evidence
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The Feasibility Study confirms Probable reserves as part of the 1 million ounce total.
Evidence · text
“Confirming 1 Million¹ Ounce Proven and Probable Reserve”
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The Feasibility Study confirms Proven reserves as part of the 1 million ounce total.
Evidence · text
“Confirming 1 Million¹ Ounce Proven and Probable Reserve”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The study was prepared in accordance with NI 43-101 Standards of Disclosure.
Evidence · text
“Prepared by Ausenco Engineering Canada ULC ("Ausenco") in accordance with National Instrument 43-101 Standards of Disclosure”
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: The study was prepared by Ausenco Engineering Canada ULC in accordance with NI 43-101.
Evidence · text
“Prepared by Ausenco Engineering Canada ULC ("Ausenco") in accordance with National Instrument 43-101”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Resource Estimates (2)
provengoldContained Metal: 1000000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- FMAN
Resource Data
- Category
- proven
- Contained Metal
- 1000000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-29T00:00:00.000Z
Reasoning: Confirmed reserve component of the 1 million ounce total.
Positive factors
- Significant reserve scale
Evidence · text
“Confirming 1 Million¹ Ounce Proven and Probable Reserve”
probablegoldContained Metal: 1000000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- FMAN
Resource Data
- Category
- probable
- Contained Metal
- 1000000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-29T00:00:00.000Z
Reasoning: Confirmed reserve component of the 1 million ounce total.
Positive factors
- Significant reserve scale
Evidence · text
“Confirming 1 Million¹ Ounce Proven and Probable Reserve”
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.