| | Publié le 06 mars 2008 | Interpretation of Airborne Geophysical Surveys Completed on its McFaulds Properties |
|
Article
|
Commentaires
|
Commenter
|
Notation
|
♥
Suivre la société
|
|
|
Freewest Resources - Press Release
|
|
Freewest's Interpretation of Airborne Geophysical
Surveys Completed on its McFaulds Properties, Reveal Numerous Anomalies
|
|
MONTREAL, QUEBEC--(March 6,
2008) - Mackenzie I. Watson, President and CEO of Freewest Resources
Canada Inc. (TSX VENTURE:FWR) (the "Company") is pleased to
provide an exploration update on the Company's activities, currently
ongoing on its McFaulds properties (the "Property").
The Property consists of 9 mineral claims situated 3.8 kilometres
northeast of the Eagle One and Eagle Two nickel-copper-platinum group
element (PGE) occurrences of Noront Resources Ltd. Four (4) of the claims
are wholly-owned by Freewest (Freewest claims), while the remaining 5
claims are under option to Spider Resources Inc. and KWG Resources Inc. (Freewest
JV claims). Spider and KWG may earn a 50% interest in the 5 claims from
Freewest by spending $3,000,000 on exploration over a 4-year period. They
may earn a 60% interest by delivering a bankable feasibility study on any
mineralization identified and a cumulative 65% interest by arranging
project financing for Freewest to place such mineralization into commercial
production. The Property is located in the Sachigo greenstone belt, 300 kilometres
north of Nakina in the James Bay Lowlands of northern Ontario.
EAGLE COPPER-NICKEL-PGE DEPOSITS
The first discovery by Noront, known as Eagle One, has yielded some
exceptional grades including 5.90% nickel, 3.10% copper, 2.87 g/t platinum
and 9.78 g/t palladium over 68.3 metres (NOT-07-05) as well as 6.30%
nickel, 2.80% copper, 1.90 g/t platinum and 10.20 g/t palladium over 46.2 metres in
drill hole NOT-07-27. The deposit occurs in ultramafic rocks described as
peridodite, within the basal lower-most portion of the volcanic pile
comprising the greenstone belt.
Noront recently announced the discovery of a second nickel-copper massive
sulphide occurrence known as Eagle Two, situated 2 kilometres
southwest of Eagle One. To date, 4 drill holes have yielded semi-massive to
massive sulphides over widths of 3 to 26 metres in
deformed, altered peridotite, containing pyrrhotite, magnetite,
chalcopyrite and pentlandite. Significantly, 3 of the 4 drill holes
intersected chromitite layers and seams, closely associated with
semi-massive and massive sulphide zones of mineralization.
Both of the Eagle One and Eagle Two occurrences are intimately associated
with discrete magnetic anomalies (magnetic highs) and coincident
electromagnetic anomalies known as conductors.
AIRBORNE GEOPHYSICAL SURVEY INTERPRETATION
Freewest recently completed a compilation and interpretation of two
airborne geophysical surveys flown for the Company, namely the Fugro
Airborne survey in 2004 and the Aeroquest International Limited survey in
late 2007..
Based on the airborne geophysical surveys and geological evidence, it is
clear that the Property covers the northeast extension of the peridodite
that hosts the Eagle One and Eagle Two occurrences. Both the Freewest
claims, as well as the Freewest JV claims, contain numerous anomalies that
are similar to the geophysical signature obtained over the Eagle One
occurrence, specifically, a coincident magnetic high and conductor (Figure
1). These anomalies are of prime exploration interest and are obvious
targets for diamond drilling.
Figure 1 is part of this news release and is posted on the Freewest website
at http://www.freewest.com
Lending further support to the geophysical anomaly similarities between
Eagle One and those on the Property is the geological evidence yielded in
drill hole FW-06-03. This drill hole was completed on the Freewest JV
claims by the operator in 2006 and intersected 2 chromitite layers, capping
a thick section of peridotite. Limited sampling of the chromitites returned
high chrome values and anomalous levels of nickel, copper and
platinum-group-elements. The drill test clearly demonstrates the presence
of magmatic styles of mineralization occurring within peridotite and
highlights the importance of the chromitite horizon intersections,
particularly in light of the recent results obtained by Noront at Eagle
Two.
The Company also completed a detailed interpretation of the preliminary
data generated by the Aeroquest survey. The interpretation reveals numerous
northeast-trending conductor panels and coincident magnetic anomalies,
including 8 on the Freewest JV claims and 5 on the Freewest claims (Figure
2). The location of these anomalies indicates that they are all situated
close to the base of the volcanic pile within peridotite, the same
geological setting as at Eagle One and Eagle Two.
Figure 2 is part of this news release and is posted on the Freewest website
at http://www.freewest.com
FUTURE WORK
Freewest is currently completing detailed ground geophysical surveys on the
Freewest claims in preparation for diamond drilling. These include ground
magnetic, horizontal-loop electromagnetic (HLEM) and high-power deep
electromagnetic surveys (deepEM). It is anticipated that some of these
surveys will be completed shortly, enabling the completion of an initial
diamond drilling program testing some of the targets before spring
break-up.
Similarly, on the Freewest JV claims, Spider Resources Inc. and KWG
Resources Inc. have completed line cutting and subsequent magnetic and HLEM
surveys in the locate of the chromitite occurrence (FW-06-03) and on the
conductor adjoining drill hole FW-06-03. Drilling is anticipated to
commence on Friday of this week.
Results for both properties will be released as they become available.
Freewest is a well-financed mineral exploration company exploring for gold
and base-metals within eastern Canada. Corporate information can be
accessed on the Internet at http://www.freewest.com . Freewest's shares are listed on the TSX Venture
Exchange under the symbol FWR.
Donald Hoy, P. Geo. (Ontario), Vice President of Exploration and a Director
of Freewest Resources Canada Inc. is the Qualified Person (under National
Instrument 43-101) on the McFaulds project and is responsible for the
preparation of this news release.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Freewest Resources Canada Inc.
Mackenzie I. Watson
President and CEO
514-878-3551 or 1-888-878-3551
514-878-4427 (FAX)
info@freewest.com
http://www.freewest.com
|
|
|
|
|
|
Freewest Resources Canada Inc.
|
|
EXPLORATEUR |
CODE : FWR.V |
|
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Freewest Resources est une société d’exploration minière d'or et de cuivre basée au Canada. Freewest Resources détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont LIZAR, SUNGOLD, LAROSE PROPERTY, GEORGE RIVER, BARRY - URBAN (WINDFALL), DALHOUSIE, CLAW LAKE, GOLDEN RIDGE, VERNEUIL TOWNSHIP, MC FAULD'S LAKE, CLARENCE STREAM, PLASTER ROCK, CROON LAKE et CAN-FER au Canada. Freewest Resources est cotée au Canada. Sa capitalisation boursière aujourd'hui est 191,3 millions CA$ (190,3 millions US$, 135,2 millions €). La valeur de son action a atteint son plus bas niveau récent le 05 décembre 2008 à 0,12 CA$, et son plus haut niveau récent le 18 décembre 2009 à 0,99 CA$. Freewest Resources possède 214 900 000 actions en circulation. |
Rapports annuels de Freewest Resources Canada Inc. |
Financements de Freewest Resources Canada Inc. |
Attributions d'options de Freewest Resources Canada Inc. |
Projets de Freewest Resources Canada Inc. |
|
Communiqués de Presse de Freewest Resources Canada Inc. |
Publication de commentaires terminée |
|
|