Freeport Resources Inc.

Published : August 13th, 2007

at Spanish Mountain Gold Property

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NEWS RELEASE
AUGUST 13, 2007

Freeport at Spanish Mountain Gold Property

VANCOUVER, CANADA
TSX Venture Exchange:  FRI
Shares Issued:    13,266,232

FREEPORT RESOURCES INC. (TSX-V: FRI) is pleased to report on field work last month at its Spanish Mountain Gold property in BC. In July, Freeport conducted soil and stream sampling across the full width of the property as a follow-up to the airborne geophysical survey last fall by Skygold Ventures/Wildrose Resources (SKV-WRS).  Assay results are pending.  In the course of the work, drill holes by SKV-WRS were observed on access roads up to 54 metres (177 feet) of Freeport’s west boundary.  Outcrops of oxidized pyrite-rich shales with quartz veining were seen near Spanish Lake, with fragments of similar pyritic rocks in scree of road cuts on Freeport’s claims also sent for assay.  Spanish Mountain is a key gold exploration project in the Cariboo – a historic gold placer district well-known for rich finds at Cedar and Spanish Creeks in the 1920’s.

Freeport’s 100% owned claims (150 hectares, 371 acres) are approximately 600 metres (.37 miles) from Skygold/Wildrose’s primary mineralized zone, reportedly open to the east and to Freeport’s ground.  Skygold states, “Drilling, geophysics and soil geochemistry show that gold mineralization at Spanish Mountain is not restricted to the Main Zone and may be part of a much larger gold mineralizing system which has not been adequately tested.    According to Skygold’s President Doug Fulcher, “Mineralization is associated with a contact between argillites and greywackes and over 96% of our diamond drill holes that have penetrated this contact have intersected the zone.  (SKV release of April 16, 2007) 

Skygold/Wildrose interpret Spanish Mountain as a Sediment Hosted Vein Deposit, with excellent potential for an open pit gold mine.  These types of deposits have typically low grade gold but represent some of the largest gold deposits in the world.  They are associated with prolific placer gold fields and usually occur in groups, with one large and associated satellite deposits. 

Skygold/Wildrose have delineated a NW-SE trending mineralized zone of approximately 1.2 km by 0.8 km (.75 mi by .5 mi), open in all directions.  The zone was outlined based on an extensive 1400 soil sample survey, two geophysical surveys and an extensive drilling program.  Freeport’s property is on strike with that mineralized zone.

Ecole Polytechnique of Montreal will provide an independent review of airborne mag-em data provided by Skygold/Wildrose (see Freeport’s Feb. 20, 2007 release).  SKV-WRS interpret the survey results to suggest structural continuity from the ‘Main Zone’ across Freeport’s block, which coincides with resistivity lows.  As noted by SKV-WRS, “Resistivity data reveals that the majority of mineralization in the South, Central and North Main Zones is situated within or on the flanks of NW-SE trending resistivity lows. These lows are likely outlining broad zones of argillite stratigraphy favourable for sediment hosted gold mineralization.” (from Skygold release, Nov. 9, 2006)

 

Geochem & Drill Holes Airborne Geophysical
Geochem & Drill Hole Map                                                                                                                                      Airborne Geophysical Map


More detailed soil and stream geochemical sampling is planned this month by Freeport’s VP Exploration, Doug Perkins.  Follow-up trenching and eventual drilling of targets produced from the geophysical survey has been recommended.  Zdenek Hora, P.Geo., is the Qualified Person who has reviewed this release. 

Sampling at Spanish Mountain
Soil Sampling at Spanish Mountain

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.



 

Freeport Resources Inc.

CODE : FRI.V
ISIN : CA3567771025
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Freeport Res. is a silver and gold producing company based in Canada.

Freeport Res. holds various exploration projects in Canada.

Its main exploration properties are RED ROSE, VOISEY'S BAY AREA and HUTTON in Canada.

Freeport Res. is listed in Canada. Its market capitalisation is CA$ 673 249 as of today (US$ 538 298, € 471 549).

Its stock quote reached its highest recent level on August 09, 1996 at CA$ 1.70, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Freeport Res. has 16 831 232 shares outstanding.

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Corporate news of Freeport Resources Inc.
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9/18/2007Advances Hutton Garnet Sands Project]
8/13/2007at Spanish Mountain Gold Property
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