| | Publié le 17 septembre 2009 | Reports Additional Excellent Drill Results From its 100%-Owned McFaulds Property |
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Freewest Resources - Press Release | |
Freewest Reports Additional Excellent Drill Results From its 100%-Owned McFaulds Property, Northern Ontario and on Other Exploration Developments
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HIGHLIGHTS:
- Phase 2 drilling at the Black Thor chromite zone returns intercepts of 41.3% Cr2O3 over 44.0 metres as well as 42.5% Cr2O3 over 26.0 metres
- The AT12 Extension nickel-copper zone yields 1.62% nickel, 1.24% copper, 1.17 grams/tonne platinum, 3.91 grams/tonne palladium and 0.15 g/t gold (5.22 grams/tonne TPM - total precious metals) over 1.77 metres
MONTREAL, QUEBEC--(Sept. 17, 2009) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) (the "Company) is pleased to announce partial assays results obtained from recently completed diamond drilling (Phase 2) on its wholly-owned McFaulds property (the "Property"). The Property, consisting of 1,036 hectares, comprises one of three properties in which the Company is exploring on its own and in joint-venture agreements in the "Ring of Fire" metals district.
In all, the Phase 2 diamond drilling program consisted of 10,663 metres comprising 29 holes. To date, complete assays have been received from 8 of the 29 holes drilled. This news release details and comments on the results of these 8 drill holes. Results from the remaining 21 drill holes will be released as they become available.
BLACK THOR DIAMOND DRILLING RESULTS:
Recently completed diamond drilling on the Black Thor chromite occurrence has been of in-fill nature, utilizing drill holes spaced 100-metres and 50-metres apart, along its current 2600-metre strike length. Previously completed drilling, up to the end of April 2009, had been largely completed at 200-metre centres, over this strike length (see Freewest news release dated June 2, 2009).
Highlighting the new results, are drill intercepts including 41.3% Cr2O3 over 44.0 metres, 42.5% Cr2O3 across 26.0 metres, 43.0% Cr2O3 over 21.0 metres, 41.4% Cr2O3 over 19.0 metres, 40.0% Cr2O3 over 15.0 metres and 41.1% Cr2O3 over 8.0 metres. The details of these drill intercepts are tabulated below.
Although many of the assays remain pending, in general, ore-grade chromite zones display good continuity along strike and to depth. To date, Black Thor has been drill-tested over a 2600-metre strike length (between drill sections 500N and 3100N) and to a maximum vertical depth of about 400 metres. It currently remains open-ended along strike and to depth (see Figure 1). Chrome to iron rations for mineralization averaging greater than 30% Cr2O3 are in the range of 1.60 - a favorable ratio comparable to those seen in established chromite mining camps, including deposits in the Bushveldt Igneous Complex in South Africa (1.60) and the Kemi Deposit located in Finland (1.53).
Figure 1 comprises part of this news release and is posted on the Freewest website at www.freewest.com.
AT12 EXTENSION DRILLING RESULTS:
Based on geological and geophysical evidence, one of the priority areas for nickel-copper-platinum group element mineralization (PGE) is in the northern portion of the wholly-owned Property, adjacent to the north claim boundary shared with Noront Resources Ltd. At the AT12 occurrence on the Noront property, broad intercepts of mineralization including 122.9 metres grading 0.56% nickel, 0.29% copper and 1.06 grams per tonne platinum and palladium (includes a higher grade section of 5.5 metres yielding 2.38% nickel, 3.05% copper, 0.92 grams per tonne platinum and 2.62 grams per tonne palladium) occur at the basal contact of the ultramafic intrusion and its feeder zones (Ring of Fire Intrusion) and the statigraphically underlying, granodiorite. This same contact, along-trend to the southwest on the 100%-owned Property, has been named the AT12 Extension and offers similar potential for magmatic nickel-copper-PGE mineralization as at AT12.
Freewest drilled 2 holes to test this target area, BT-09-62 and BT-09-67. Both holes intersected significant thicknesses (up to 50 metres) of disseminated copper and nickel-sulphides (1-3%) that locally contain heavily disseminated to semi-massive sulphides over narrow widths (10 to 30%). The sulphides are hosted in ultramafic rocks, closely associated with the contact with the underlying granodiorite.
Hole BT-09-61 yielded a narrow zone of heavily disseminated copper-nickel sulphide mineralization over a width of 2.4 metres. The most heavily mineralized portion of the intercept yielded 1.62% nickel, 1.24% copper and 5.22 grams per tonne TPM (platinum+palladium+gold) over a core length of 1.77 metres. The underlying hole, BT-09-67 yielded an 18-metre wide zone of disseminated sulphides returning 0.79 grams per tonne TPM as well as anomalous levels of nickel and copper.
Although the widths of economic nickel-copper-platinum group element mineralization obtained to date at the AT12 Extension are narrow, the Company is encouraged to see this tenor of mineralization occurring at the favorable ultramafic - granodiorite contact. Based on geophysical evidence, this contact can be traced over a distance of at least 2.3 kilometres on the Property. Additional drilling is clearly warranted testing the AT12 Extension.
PHASE 3 DIAMOND DRILLING:
A third phase of diamond drilling is currently being planned and is anticipated to commence in early October. Two drills will likely be employed; the first to continue detailed drilling of the Black Thor chromite zone and the second, to test the AT12 Extension and other nickel-copper-PGE targets, including the F2 Zone. The Company is currently on target with its goal of producing a 43-101 compliant Mineral Resource estimate on the Black Thor chromite zone by late 2009-early 2010.
FREEWEST-NORONT JOINT-VENTURE:
In other developments, the Company reports that pending the receipt of results of a recently completed Crone Pulse EM (electromagnetic) survey, the joint-ventured property with Noront Resources Ltd. is ready for diamond drilling. Preliminary diamond drilling of the bull's eye-shaped magnetic anomaly will likely commence in mid-October.
CLARENCE STREAM, NEW BRUNSWICK:
Freewest and partner, Rockport Mining Corp., are preparing for the resumption of the resource expansion diamond drilling program at Clarence Stream in New Brunswick.
The immediate goal of the resource expansion project is to increase the mineral resource to the 1 million-ounce-plus range - a realistic goal, given that most of the gold zones are open along strike and to depth. The resource defined to date is localized within a 1.8 km strike length of the defined 12 km long mineralized structure. Numerous untested gold-in-soil anomalies and surface showings containing visible gold located away from the known gold resource outline, offer excellent potential for the discovery of new gold zones as well. The next phase of exploration will also include:
- Further in-fill and resource expansion drilling along-strike and down-plunge from established resource blocks to achieve the immediate +1.0 million ounce resource target.
- Exploration drilling to test other defined priority targets along the proven 12 km mineralized structure which is believed to have multi million ounce potential.
- Updating the property's mineral resource estimate, and
- Completing a Preliminary Economic Assessment ("scoping study") to examine the viability of commercial production
In June 0f 2008, Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) calculated a National Instrument 43-101 Mineral Resource estimate on 2 deposit clusters on the property. It includes an Indicated Mineral Resource of 817,400 tonnes at an uncut grade of 8.43 grams per tonne gold, or 221,620 ounces of gold and an Inferred Mineral Resource of 642,000 tonnes at an uncut grade of 7.81 grams per tonne gold, amounting to 161, 340 ounces of gold. In addition to the gold, an Indicated Mineral Resource of 7.3 million pounds of antimony is present at Clarence Stream.
Of particular note, is the fact that Scott Wilson RPA's Mineral Resource estimate incorporates results only up to drill hole CS08-272 and that 40 additional holes have been drilled since that time. Such holes have encountered significant mineralization such as 7.11 g/t gold over 5.00 metres, 17.25 g/t gold over 5.00 metres, 9.71 g/t gold over 5.00 metres and 8.24 g/t gold over 5.00 metres in drill holes 273, 290, 295 and 208 respectively. Such drill holes have further expanded the limits of the gold-bearing system and will add to the mineral resource.
Rockport is currently funding the exploration and resource expansion program at Clarence Stream. Rockport may earn a cumulative 50% interest by spending an additional $7,500,000 on exploration prior to October 2011. A cumulative 65% interest may be obtained by Rockport funding the Property through to a feasibility study. Rockport is a well-funded private St. Andrews-based (New Brunswick) mineral exploration company.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL:
A thorough quality control program has been implemented for the McFaulds project including grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field blanks composed of barren drill core and a field duplicate. Coarse reject and pulp duplicates also from part of the Quality Control program. The Company is confident that all assays reported in this news release have passed rigorous control guidelines as set out by Freewest's independent Quality Assurance/Quality Control person.
All samples were submitted to Activation Labs (Actlabs) of Ancaster, Ontario for analyses. The samples were analyzed for multi-elements using a 4-acid digestion followed by ICP analyses. Gold, platinum and palladium were assayed by the Fire Assay method on 30 grams of prepared sample. For higher grade chromium analyses (greater than 1%), the samples are analyzed by the Neutron Activation method wherein they are irradiated prior to final reading. This method yields analyses in percent for elemental chromium, Cr2O3 and elemental iron. Additional information on the analytical techniques employed can be accessed on the Actlabs website at www.actlabsint.com.
Additional quality control measures have also been recently adopted for Cr and Fe including the insertion of a certified reference material SARM 8, purchased from Mintek in South Africa. This quality control method provides a check for high-grade chrome samples yielded by INAA analyses provided by Actlabs.
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.
Freewest is a well-financed mineral exploration corporation with over C$5.5 million in working capital and also owns 4,187,760 shares of Quest Uranium Corporation (TSX VENTURE:QUC) valued in excess of C$11million based on the closing price of Quest as at September 16, 2009. Freewest is actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at www.freewest.com. Freewest's shares are listed on the TSX Venture Exchange under the symbol FWR.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact Freewest Resources Canada Inc. Mackenzie I. Watson President and CEO (514) 878-3551 or 1-888-878-3551 (514) 878-4427 (FAX) info@freewest.com www.freewest.com
or
Bay Street Connect Michael D'Amico Investor Relations (647) 500-6023
or
AGORACOM Investor Relations FWR@Agoracom.com http://agoracom.com/ir/freewest
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Freewest Resources Canada Inc.
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Freewest Resources est une société d’exploration minière d'or et de cuivre basée au Canada. Freewest Resources détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont LIZAR, SUNGOLD, LAROSE PROPERTY, GEORGE RIVER, BARRY - URBAN (WINDFALL), DALHOUSIE, CLAW LAKE, GOLDEN RIDGE, VERNEUIL TOWNSHIP, MC FAULD'S LAKE, CLARENCE STREAM, PLASTER ROCK, CROON LAKE et CAN-FER au Canada. Freewest Resources est cotée au Canada. Sa capitalisation boursière aujourd'hui est 191,3 millions CA$ (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. |
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