Freewest Resources Canada Inc.

Published : November 01st, 2007

New Uranium Corridor on its Thor Property in Northwestern Ontario

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November 01, 2007

Freewest Resources - Press Release

 


Freewest Discovers New Uranium Corridor on its Thor Property in Northwestern Ontario

 

 


HIGHLIGHTS:

- New uranium corridor discovered by prospecting yields assays of up to 0.302% U3O8 (6.0 lbs/ton)

- 140 bedrock samples collected from the 1500 metre-long, 400 metre-wide corridor yield an average assay of 693 parts per million U3O8 (1.4 lbs/ton)

MONTREAL, QUEBEC--(Nov. 1, 2007) - Freewest Resources Canada Inc. (the "Company") (TSX VENTURE:FWR) is pleased to announce that a new significant uranium occurrence has been discovered by prospecting on its Thor property (the "Property"). The 100%-owned Property recently acquired by staking, consists of 7 mineral claims comprising 1,036 hectares and is located 55 kilometres north of the City of Kenora, in north-western Ontario. Travel time to the Property from Kenora is 50 minutes, utilizing a network of new wood harvesting roads that access it. Subsequently, mineral exploration activities can essentially be carried out, year-round.

A preliminary prospecting program completed at Thor resulted in the discovery of uranium in a large east-west-trending mineralized corridor, currently traced over a minimum strike length of 1.5 kilometres and over a width of at least 400 metres. A total of 140 bedrock samples were collected from the corridor, yielding a maximum assay of 3,021 parts per million U3O8 (6.0 lbs/ton) and a minimum assay of 4 parts per million U3O8. Of the total samples collected, 31 of them (22%) yielded assays greater than 1,000 parts per million U3O8 (2.0 lbs/ton), while 79 of the 140 samples or 58% of them, assayed greater than 500 parts per million U3O8 (1.0lbs/ton).. The average assay of the total sample population collected from the mineralized corridor is 693 parts per million U3O8 (1.4 lbs/ton).(1)

An initial examination of the corridor indicates that mineralization is hosted within an east-west-trending pegmatite dike complex traced over a minimum strike length of 2500 metres and over a width of 400 metres. The complex intrudes metasedimentary rocks locally containing graphite as well as pyrite and pyrrhotite. Mineralized zones are coarse-grained to very coarse-grained, biotitic and contain prominent yellowish staining likely to be autunite and/or carnotite.
Uranium mineralization is closely associated with large digested rafts or inclusions of metasedimentary rocks. Mineralization is completely open-ended along strike and as far as known, has never been tested by diamond drilling.

The mineralized corridor is associated with an extensive east-west-trending airborne radiometric anomaly generated by a survey flown in the Thor property locale, by the Geological Survey of Canada in the early 1970's. Both equivalent uranium and equivalent uranium/equivalent thorium anomalies defined on widely spaced flight lines (5 kilometres), correlate well with the location of uranium mineralization. The radiometric anomalies span a much larger area than mineralization discovered to date, suggestive of a large potential area for uranium mineralization. Follow-up prospecting is currently underway to expand the target area in preparation for planned systematic grid-work, to help define controls on uranium mineralization.

Regionally, uranium mineralization at Thor and at other occurrences in the area are closely associated with a major terrane boundary that separates rocks of the Winnipeg River greenstone belt from metasedimentary and plutonic rocks of the English River gneiss belt. Uranium mineralization is hosted both within potassically altered pegmatitic dikes as well as palingenic granitoids, derived from partial melting of metasedimentary rocks.

Donald Hoy, P. Geo. (Ontario), Vice President of Exploration and a Director of Freewest Resources is the Qualified Person under National Instrument 43-101 on the Thor and Lizar properties. He is also responsible for the preparation of this news release.

Freewest is a well-funded junior mineral exploration company exploring for gold, base-metals and uranium in 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.

(1) Sample analyses for uranium was completed using the Delayed Neutron Count (DNC) method by Activation Laboratories Ltd. located in Ancaster, Ontario.

Investors are invited to visit the Freewest Hub at http://www.agoracom/IR/freewest where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to FWR@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press 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)
Email: info@freewest.com
Website: http://www.freewest.com

 

 

 

 

 

 

FEATURED LINKS

Freewest Resources Web Site

Freewest Resources IR HUB

 

 

 

 

 


Freewest Resources Canada Inc.

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Freewest Resources is a gold and copper exploration company based in Canada.

Freewest Resources holds various exploration projects in Canada.

Its main exploration properties are 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 and CAN-FER in Canada.

Freewest Resources is listed in Canada. Its market capitalisation is CA$ 191.3 millions as of today (US$ 190.3 millions, € 135.2 millions).

Its stock quote reached its lowest recent point on December 05, 2008 at CA$ 0.12, and its highest recent level on December 18, 2009 at CA$ 0.99.

Freewest Resources has 214 900 000 shares outstanding.

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Annual reports of Freewest Resources Canada Inc.
2007 Annual Report
Financings of Freewest Resources Canada Inc.
6/4/2009Completes $5.16 Million Private Placement
2/26/2009Retains Investor-Relations Firm And Proposes To Extend Expir...
12/31/2008Announces Closing of $2,300,000 Private Placement
3/6/2008Announces Closing of $3 Million Private Placement
1/11/2008 Engages PowerOne Capital Markets for Private Placement of U...
12/7/2007Announces Private Placement for a Maximum of $800,000
10/31/2007 Announces Second Closing of $800,000 Private Placement With...
10/23/2007Announces Closing of $500,000 "Flow-Through" Private Placeme...
7/30/2007Announces Closing of $1 Million "Flow-Through" Private Place...
Option Grants of Freewest Resources Canada Inc.
1/21/2009Grants Stock Options
9/2/2008Grants Stock Options
Project news of Freewest Resources Canada Inc.
10/26/2009(Mc Fauld's Lake)Commence Drilling of Prospective Airborne Geophysical Anomal...
10/15/2009(Mc Fauld's Lake)Continues to Generate Excellent Drill Results at Black Thor
9/17/2009(Mc Fauld's Lake)Reports Additional Excellent Drill Results From its 100%-Own...
8/11/2009(Mc Fauld's Lake)Diamond Drilling Activity on Its 100%-Owned McFaulds Propert...
6/30/2009(Mc Fauld's Lake)Resumes Diamond Drilling on Its 100%-Owned McFaulds
6/2/2009Intersects 34.1% Cr2O3 Over 174 Metres at Black Thor
2/5/2009Intersects 30.0% Cr2O3 Over 124 Metres at Black Thor
1/9/2009(Clarence Stream)Intersect 8.24 g/t Gold Over 5.00 Metres in Deeper Drilling ...
12/15/2008High-Grade Chromite Intersections Continue To Outline
12/10/2008(Mc Fauld's Lake)Updates Exploration Activities on Its 100%-Owned McFaulds Pr...
11/26/2008(Mc Fauld's Lake)INTERSECTS 40.4% OVER 46.3 METRES AT THE BLACK THOR CHROMIT...
11/21/2008Resume Diamond Drilling on Its 100%-Owned McFaulds Property ...
11/7/2008(Mc Fauld's Lake)Updates Exploration Activity on Its 100%-Owned McFaulds Prop...
11/6/2008(Mc Fauld's Lake)Updates Exploration Activity on Its 100%-Owned McFaulds
9/29/2008Intersects 110 Metres of Chromite
9/15/2008 Intersects 100 Metres Of Chromite Mineralization In First H...
9/10/2008(Mc Fauld's Lake)Commences Diamond Drilling on its 100%-Owned McFaulds Proper...
5/14/2008(Mc Fauld's Lake)Noront and Freewest to Jointly Explore Key Airborne Geophysi...
3/19/2008 Near Surface High Grade Gold Intersected On Noront-Freewest...
3/6/2008(Mc Fauld's Lake)Interpretation of Airborne Geophysical Surveys Completed on ...
2/29/2008(Clarence Stream) Intersects 7.98 G/T Gold Over 12 Metres in Deeper Drilling ...
1/10/2008(Clarence Stream)and Rockport Set to Resume Diamond Drilling at Clarence Stre...
12/21/2007(Sungold)Partners With a Major Mining Company to Further Explore its ...
12/18/2007(Golden Ridge)Explore its Golden Ridge Property in New Brunswick and Maine
10/3/2007(Clarence Stream)Drilling Demonstrates Excellent Potential for Deep Gold Zone...
8/13/2007(Clarence Stream) Intersects 6.59 g/t Gold Over 7.00 Metres in Deeper Drillin...
6/5/2007(Lizar)Options Lizar Gold-Based Metal Property in Northwestern Onta...
2/28/2007Intersects 12.45 g/t Gold Over 4.50 Metres and 12.51 g/t Gol...
Corporate news of Freewest Resources Canada Inc.
1/27/2010Cliffs Acquisition of Freewest Completed
1/26/2010Obtains Final Order for Arrangement With Cliffs Natural Reso...
1/25/2010To apply for final order from Court on January 26
1/14/2010Reminds Shareholders to Vote for Plan of Arrangement
10/14/2009Attending The World Money Show In Toronto
10/14/2009Finds New Partner in Eagle Hill
2/12/2009CEO Interview February 12, 2009
1/16/2009 Significant Chromite Intersections Returned From Two Additi...
11/20/2008Attending Hard Assets Investment Conference - San Francisco
9/26/2008More Massive Chromitite
8/20/2008Spider and KWG Intersect 45.6 Metres of Massive Chromite
7/22/2008Drilling Resumes on Nickel Chrome Prospect
7/9/2008Updates Exploration Activities on Its McFaulds Project in On...
6/13/2008and Rockport Announce Increase in Mineral Resources
6/11/2008Spider, KWG and Freewest Intersect 30.73% Chrome
4/30/2008and Rockport Continue to Expand Deep Zone and Intersect 17.2...
4/8/2008Spider, KWG and Freewest Provide Drill Update on Freewest Op...
4/2/2008Attend The Calgary Resource Investment Conference April 12 &...
3/13/2008Mackenzie Watson to Appear on BBN TV's Commodities Report
2/4/2008 KWG, Spider and Freewest Start Winter Exploration Program
1/28/2008Freewest Resources Press Release - January 28, 2008
12/20/2007Acquires New Volcanic-Hosted Massive Sulphide Occurrence at ...
11/1/2007New Uranium Corridor on its Thor Property in Northwestern On...
10/22/2007 Spend $7.5 Million to Gold Properties in New Brunswick
10/9/2007Announces Filing of Quest Uranium Corporation Preliminary Pr...
10/1/2007Prioritizes Exploration Targets on its Mcfaulds Property, On...
7/11/2007Acquires Croon Lake Uranium Property in Northwestern Ontario...
5/23/2007Acquires Dalhousie Mountain Nickel-Copper-Vanadium Property ...
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