TSX-V
FRI.V
0.06 CA$
175.00%
ANNOUNCES GOLD RESULTS FROM SPANISH MOUNTAIN CLAIMS
On April 01 2008
APRIL
1, 2008
NEWS RELEASE
FREEPORT ANNOUNCES GOLD RESULTS FROM SPANISH MOUNTAIN CLAIMS
VANCOUVER, CANADA
TSX Venture Exchange: FRI
Shares Issued: 13,486,232
FREEPORT RESOURCES INC. (TSX-V: FRI) is very pleased to announce gold
results from last season's field work at its Spanish Mountain Gold
property near Likely, BC. Soil and rock samples collected over a
geophysical ‘resistivity low’ are strongly anomalous in gold, reaching
over 400 ppb in soil and up to 0.13 g/t in weathered pyritic argillite
and greywacke surface rocks. This indicates an easterly extension of
the large mineralized zone defined by Skygold Ventures Ltd. ("Skygold")
(SKV-TSXV) and Wildrose Resources Ltd. ("Wildrose") (WRS-TSXV) at their
‘Main Zone Argillite’, measuring over 1.44 sq.km. (.56 sq.mi.) in size,
also coinciding with a resistivity low. The local geophysical
signature shows structural continuity across the claim blocks, with no
discontinuities or major offsetting features. For map, please see http://www.freeportresources.com/i/maps/resistivity-au_geochem.gif
Freeport’s sampling tested the most northerly resistivity low of three
identified by a 2006 airborne survey. According to Skygold, these
geophysical features correspond with broad zones of argillite
stratigraphy favourable for sediment hosted gold; mineralization is
associated with a contact between argillites and greywackes, with
higher grade gold in greywacke host rock.
Three hand trenches were dug on pits along a previously unknown access
road cross-cutting the stratigraphy. The pits exposed pyritic
argillite and greywacke with some quartz veining – rocks that appear
identical to the mineralized horizon on Skygold-Wildrose’s adjacent
claims. Assays of surface grab samples from all 3 pits returned gold
values clustered around 0.1 grams per tonne. The significance of gold
values in the right rock type in all three trenches indicates the
mineralized stratigraphy extends onto Freeport’s claims. Gold values
could be expected to increase below surface weathered exposures of the
rocks.
Skygold has described mineralization at its claims as follows:
“Drilling within the Main Zone has consistently intersected gold in the
Upper Argillite horizon which now forms a sheet of mineralization
traced along strike for approximately 800 metres with a width of
approximately 500m and up to 135 metres thick.” Skygold has also
noted, “...the zone may be getting wider to the east.”
Skygold/Wildrose are now completing an initial 43-101 compliant
resource estimate, with bulk sampling and environmental studies planned
(see SKV releases 2007.09.10 and 2007.11.15). Freeport’s claims are
approximately 600 m. (.37 mi.) from and on strike with the NW-SE
trending gold-bearing zone, reportedly open to the east.
Sampling of untested prospective geophysical targets on Freeport’s
claims should be completed in 2008, on strike with known mineralization
to the west. Follow-up drilling is warranted to locate favorable gold
mineralized stratigraphic/structural horizons. With minor
rehabilitation, the road will provide easy access for equipment and
drills over the northern portion of the claims, especially as an
offshoot of the road extends up to the main logging haul road.
For more information, please visit our new website, soon to be launched
at www.freeportresources.com.
Zdenek Hora, P.Geo., is the Qualified
Person who has reviewed this release.
Freeport Resources, founded in 1981, is a junior mineral exploration
company listed on the TSX Venture Exchange. Freeport has landholdings
in Labrador and B.C., with a special focus on industrial minerals,
precious and base metals, and gemstones.
Freeport Resources Inc.
Brenda Clark, MAIBC
President & CEO
1-888-275-7335 (toll free)
(604) 275-7335 (tel.)
freeportresources@shaw.ca
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF
THIS NEWS RELEASE.
