posted on
Sep 29, 2008 05:19AM
HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Re: freewest
Freewest Resources Canada Inc. (TSX VENTURE: FWR) (the "Company") is pleased to announce additional preliminary results obtained from early stage drilling completed on its 100%-owned McFaulds property (the "Property"). The Property consisting of 4 mineral claims or 1036 hectares, comprises one of three properties in which the Company is currently exploring, on its own and in strategic joint-ventures in the emerging "Ring of Fire" metal district. It is located approximately 300 kilometres north of the town of Nakina in the James Bay Lowlands of northern Ontario. DRILL HOLE BT-08-03: Drill hole BT-08-03 was completed as a broad step-out testing the continuity of the Black Thor chromite zone 1600 metres to the northeast of the discovery hole, BT-08-01. The latter hole, the first completed by Freewest on the Property, encountered a 100 metre-wide zone of chromite mineralization (see Freewest news release dated September 15, 2008). Drill hole BT-08-01 is located on grid line 11+00 north at station 1+85 west, while the step-out hole BT-08-03, is situated on grid line 27+00 north at station 2+25 west (see Map 1). Map 1 comprises part of this news release and is posted on the Freewest website at www.freewest.com. The highlight of the step-out drill hole is the intersection of a wide zone of disseminated, banded, semi-massive and massive chromite mineralization comprising the on-strike extension of the Black Thor chromite zone. Chromite mineralization is hosted within a continuous northeast to southwest-trending ultramafic sill complex consisting of variably altered peridotite, dunite and pyroxenite. The chromite mineralization overlies highly altered pyroxenite and is in turn overlain by a distinct grayish-coloured talc-chlorite schist (believed to be highly altered ultramafic rocks). A fine-grained mafic dike intruding the mineralized zone may have had a destructive affect on chromite mineralization and has divided mineralization into two sub-zones. The details of the mineralized intercept are as follows: THE BLACK THOR CHROMITE ZONE: Chromite mineralization based on core angle orientation, appears to be dipping steeply to the northwest, indicating that intersected widths are fairly close to true widths (85 to 90% of intersected widths). Remarkably, given the 1600-metre along-strike distance between drill holes BT-08-01 and BT-08-03, the hosting lithotypes are very similar and appear to occupy the same relative stratigraphic position within the ultramafic sill. Similarly, the widest zones of semi-massive to massive chromite mineralization are situated at the top (stratigraphically) of the chromite mineralized zone as a whole and are of consistent thickness, including 46.0 metres in hole BT-08-01 and 50.0 metres in BT-08-03. Chromite mineralization remains completely open-ended along strike and to depth. In terms of geophysical signatures, the Black Thor chromite zone is situated on the southeast margin of a through-going magnetic high, likely manifesting the location of the main ultramafic sill. This magnetic feature on the 100%-owned property, suggests that the sill has a strike length of at least 4 kilometres (see Figure 1). Figure 1 comprises part of this news release and is posted on the Freewest website at www.freewest.com. Additionally, the chromite intercept obtained in BT-08-03, is coincident with a prominent gravity anomaly defined during the course of a limited test survey completed earlier this spring. Clearly, gravity surveys will play an important role in helping to trace the Black Thor chromite zone to assist in diamond drilling. Systematic gravity surveys are planned for the Property immediately following freeze-up, anticipated to be in late November. OTHER PROSPECTIVE TARGETS ON THE PROPERTY: The Company also intends on testing numerous other quality geophysical targets on the Property in an effort to discover nickel-copper-platinum group element deposits. These targets comprise strong interpreted bedrock conductors that correlate with magnetic anomalies, the same geophysical signature that characterizes the Eagle One deposit as well as the AT 12 nickel-copper occurrence, both owned by Noront Resources Ltd. The VTEM survey in particular, yielded numerous strong conductors that are intimately associated with discrete short strike-length magnetic features that appear to be discordant to the trend of the main ultramafic sill. Several of these anomalies are targeted for drilling in the current program. The first phase of drilling will consist of a minimum of 5000 metres comprising some 12 drill holes. Results will be released as they become available. "Obviously, we are very encouraged with the preliminary drilling results obtained at the Black Thor chromite zone, "stated Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. "The current dimensions of strike length and width yielded by the early drilling are suggestive of the presence of a world-class chromite deposit existing on the Property. We look forward to continuing drilling on the Black Thor chromite zone and to testing the numerous quality geophysical targets for nickel-copper-platinum group element mineralization." 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 exploring for gold and base-metals 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.
Freewest Intersects 110 Metres of Chromite Mineralization in 1.6 Kilometre Step-Out Hole Testing the Black Thor Chromite Zone on Its 100%-Owned McFaulds Property, Northern Ontario
HIGHLIGHTS: - Drill hole BT-08-03 contains a 50 metre-wide section of semi-massive and massive chromite within a broader zone of 110 metres of chromite mineralization - The Black Thor chromite zone currently has a minimum strike length of 1600 metres and remains open-ended along strike and to depth
MONTREAL, QUEBEC, Sep 29, 2008 (MARKET WIRE via COMTEX News Network) --
-----------------------------------------------------------------------
----
INTERVAL DESCRIPTION INTERSECTED WIDTH
(METRES) (METRES)
---------------------------------------------------------------------------
226.0-236.9 Semi-massive to massive chromite
mineralization 10.9
---------------------------------------------------------------------------
236.9-244.0 Massive chromite zones in altered dunite 7.1
---------------------------------------------------------------------------
244.0-247.2 Massive chromite mineralization, brown
to black in colour 3.2
---------------------------------------------------------------------------
247.2-255.8 Altered dunite containing disseminated
and cumulate chromite 8.6
---------------------------------------------------------------------------
255.8-272.0 Fine-grained mafic dike, no chromite
mineralization 16.2
---------------------------------------------------------------------------
272.0-286.0 Altered dunite containing sections of
massive chromite 14.0
---------------------------------------------------------------------------
286.0-336.0 Semi-massive and massive chromite
mineralization 50.0
---------------------------------------------------------------------------
Chromite
Zone Width 110.0
---------------------------------------------------------------------------
Contacts:
Freewest Resources Canada Inc.
Mackenzie I. Watson
President and CEO
(514) 878-3551 or 1-888-878-3551
(514) 878-4427 (FAX)
Email: info@freewest.com
Website: www.freewest.com
Bay Street Connect
Michael D'Amico
Investor Relations
(647) 500-6023
AGORACOM
Investor Relations
Email: FWR@Agoracom.com
Website: http://agoracom.com/ir/freewes
5 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply