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Freewest Resources Canada Inc.

Publié le 20 décembre 2007

Acquires New Volcanic-Hosted Massive Sulphide Occurrence at Kirby Lake

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December 20, 2007

Freewest Resources - Press Release

 


Freewest Acquires New Volcanic-Hosted Massive Sulphide Occurrence at Kirby Lake in the Onaman-Tashota Greenstone Belt, Northwestern Ontario

 

 

 

MONTREAL, QUEBEC--(Dec. 20, 2007) - Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (TSX VENTURE:FWR)M (the "Corporation"), is pleased to announce the acquisition of the Kirby Lake base-metal property (the "Property") in a recently signed option agreement with local Thunder Bay prospectors. The 100%-owned Property comprising 8 mineral claims (502 hectares) is located in the Onaman-Tashota greenstone belt, approximately 10 kilometres north of the Trans Canada Highway (Highway 11) and 12 kilometres west of the Town of Geraldton. It can be explored year-round given its access by way of logging roads and proximity to infrastructure.

The Kirby Lake Property

To date, 2 prospective base-metal horizons have been identified on the Property, known as the Kirby Lake horizon (KLH) and the Kirby Lake North horizon (KLNH). The KLH hosts an historic zinc showing discovered in 1994 known as the Kirby pit. Grab sample assays obtained from the occurrence yielded up to 7.19% zinc, 2.94% lead and 11.03 oz/t silver. The host rocks at the occurrence are described as bleached, banded rhyolite that chemically, are characterized by strong sodium depletion. Six short drill holes (e-size core) testing the occurrence intersected garnetiferous rhyolite containing narrow massive pyrrhotite and chalcopyrite bands. Results from such drilling are inconclusive and the assays from it are not available.

The KLNH, discovered in 2007, is located 400 metres to the north of the KLH and contains 2 new massive and stringer-type sulphide occurrences. At the first occurrence, backhoe trenching and blasting uncovered stringer, semi-massive and massive pyrrhotite and appreciable chalcopyrite hosted within strongly chloritized rhyolite and locally, sedimentary rocks.
Grab sample assays from this occurrence yield up to 2.54% copper and low zinc values. Two hundred and fifty (250) metres along strike to the west-northwest, a second massive sulphide occurrence was exposed by backhoe trenching. Here, massive pyrrhotite and disseminated chalcopyrite hosted in chloritized rhyolite, returned assays of up to 0.40% copper. Both of the new occurrences are capped by a laminated cherty exhalite and have never been tested by diamond drilling.

Airborne geophysical surveys flown by the Ministry of Northern Development and Mines (MNDM map 81325) reveal strong electromagnetic anomalies (conductors) and magnetic highs in intimate association with the new occurrences.

A map indicating the location of the Kirby Lake and Kirby Lake north horizons relative to the conductors and magnetic features on the Property is available on our website at http://www.freewest.com

Regionally, the rocks that host mineralization at Kirby Lake comprise part of the 2770-2780 Ma Onaman assemblage (Stott et al. 2002). It comprises a variety of metavolcanic and metasedimentary rocks that immediately to the south of the Property, are in fault-bounded contact with mafic metavolcanic rocks and clastic metasedimentary rocks of the Beardmore-Geraldton belt. Both of the Onaman-Tashota and Beardmore-Geraldton greenstone belts have been the subject of intensive exploration efforts over the last few years. Ongoing precious and base-metal oriented exploration projects in the Kirby Lake locale, are currently being completed by Kodiak Exploration Limited, Premier Gold Mines Limited and Sage Gold Incorporated.

Planned Exploration Work

Early in 2008, Freewest plans a program involving line cutting, horizontal-loop electromagnetic surveys (HLEM) and total field magnetic surveys to create a geophysical data base over the occurrences. The ground geophysical surveys will be followed up by an initial program of diamond drilling testing these very prospective volcanic-hosted massive sulphide targets.

Under the terms of the agreement on the Property, Freewest may earn a 100% interest from the vendors by making cash payments, issuing shares of Freewest Resources Canada Inc. and incurring certain exploration expenditures over a 4-year period. The total in cash payments, issuance of Freewest shares and exploration expenditures over this period is $165,000, 100,000 and $700,000, respectively. The vendors retain a 2.5% Net Smelter Return Royalty on the Property of which Freewest may purchase 1.5% for the sum of $500,000 per each 0.5% increment.

Donald Hoy, P. Geo. (Ontario), Vice President of Exploration and a Director of Freewest Resources Canada Inc. is the Qualified Person on the Kirby Lake property (under National Instrument 43-101) and is responsible for the preparation of this news release.

Freewest is a well-funded mineral exploration corporation exploring for gold, base-metals and uranium in Eastern Canada. Corporate information on the Corporation as well as information on its properties 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
http://www.freewest.com

 

 

 

 

 

 

FEATURED LINKS

Freewest Resources Web Site

Freewest Resources IR HUB

 

 

 

 

 


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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Rapports annuels de Freewest Resources Canada Inc.
2007 Annual Report
Financements de Freewest Resources Canada Inc.
04/06/2009Completes $5.16 Million Private Placement
26/02/2009Retains Investor-Relations Firm And Proposes To Extend Expir...
31/12/2008Announces Closing of $2,300,000 Private Placement
06/03/2008Announces Closing of $3 Million Private Placement
11/01/2008 Engages PowerOne Capital Markets for Private Placement of U...
07/12/2007Announces Private Placement for a Maximum of $800,000
31/10/2007 Announces Second Closing of $800,000 Private Placement With...
23/10/2007Announces Closing of $500,000 "Flow-Through" Private Placeme...
30/07/2007Announces Closing of $1 Million "Flow-Through" Private Place...
Attributions d'options de Freewest Resources Canada Inc.
21/01/2009Grants Stock Options
02/09/2008Grants Stock Options
Projets de Freewest Resources Canada Inc.
26/10/2009(Mc Fauld's Lake)Commence Drilling of Prospective Airborne Geophysical Anomal...
15/10/2009(Mc Fauld's Lake)Continues to Generate Excellent Drill Results at Black Thor
17/09/2009(Mc Fauld's Lake)Reports Additional Excellent Drill Results From its 100%-Own...
11/08/2009(Mc Fauld's Lake)Diamond Drilling Activity on Its 100%-Owned McFaulds Propert...
30/06/2009(Mc Fauld's Lake)Resumes Diamond Drilling on Its 100%-Owned McFaulds
02/06/2009Intersects 34.1% Cr2O3 Over 174 Metres at Black Thor
05/02/2009Intersects 30.0% Cr2O3 Over 124 Metres at Black Thor
09/01/2009(Clarence Stream)Intersect 8.24 g/t Gold Over 5.00 Metres in Deeper Drilling ...
15/12/2008High-Grade Chromite Intersections Continue To Outline
10/12/2008(Mc Fauld's Lake)Updates Exploration Activities on Its 100%-Owned McFaulds Pr...
26/11/2008(Mc Fauld's Lake)INTERSECTS 40.4% OVER 46.3 METRES AT THE BLACK THOR CHROMIT...
21/11/2008Resume Diamond Drilling on Its 100%-Owned McFaulds Property ...
07/11/2008(Mc Fauld's Lake)Updates Exploration Activity on Its 100%-Owned McFaulds Prop...
06/11/2008(Mc Fauld's Lake)Updates Exploration Activity on Its 100%-Owned McFaulds
29/09/2008Intersects 110 Metres of Chromite
15/09/2008 Intersects 100 Metres Of Chromite Mineralization In First H...
10/09/2008(Mc Fauld's Lake)Commences Diamond Drilling on its 100%-Owned McFaulds Proper...
14/05/2008(Mc Fauld's Lake)Noront and Freewest to Jointly Explore Key Airborne Geophysi...
19/03/2008 Near Surface High Grade Gold Intersected On Noront-Freewest...
06/03/2008(Mc Fauld's Lake)Interpretation of Airborne Geophysical Surveys Completed on ...
29/02/2008(Clarence Stream) Intersects 7.98 G/T Gold Over 12 Metres in Deeper Drilling ...
10/01/2008(Clarence Stream)and Rockport Set to Resume Diamond Drilling at Clarence Stre...
21/12/2007(Sungold)Partners With a Major Mining Company to Further Explore its ...
18/12/2007(Golden Ridge)Explore its Golden Ridge Property in New Brunswick and Maine
03/10/2007(Clarence Stream)Drilling Demonstrates Excellent Potential for Deep Gold Zone...
13/08/2007(Clarence Stream) Intersects 6.59 g/t Gold Over 7.00 Metres in Deeper Drillin...
05/06/2007(Lizar)Options Lizar Gold-Based Metal Property in Northwestern Onta...
28/02/2007Intersects 12.45 g/t Gold Over 4.50 Metres and 12.51 g/t Gol...
Communiqués de Presse de Freewest Resources Canada Inc.
27/01/2010Cliffs Acquisition of Freewest Completed
26/01/2010Obtains Final Order for Arrangement With Cliffs Natural Reso...
25/01/2010To apply for final order from Court on January 26
14/01/2010Reminds Shareholders to Vote for Plan of Arrangement
14/10/2009Attending The World Money Show In Toronto
14/10/2009Finds New Partner in Eagle Hill
12/02/2009CEO Interview February 12, 2009
16/01/2009 Significant Chromite Intersections Returned From Two Additi...
20/11/2008Attending Hard Assets Investment Conference - San Francisco
26/09/2008More Massive Chromitite
20/08/2008Spider and KWG Intersect 45.6 Metres of Massive Chromite
22/07/2008Drilling Resumes on Nickel Chrome Prospect
09/07/2008Updates Exploration Activities on Its McFaulds Project in On...
13/06/2008and Rockport Announce Increase in Mineral Resources
11/06/2008Spider, KWG and Freewest Intersect 30.73% Chrome
30/04/2008and Rockport Continue to Expand Deep Zone and Intersect 17.2...
08/04/2008Spider, KWG and Freewest Provide Drill Update on Freewest Op...
02/04/2008Attend The Calgary Resource Investment Conference April 12 &...
13/03/2008Mackenzie Watson to Appear on BBN TV's Commodities Report
04/02/2008 KWG, Spider and Freewest Start Winter Exploration Program
28/01/2008Freewest Resources Press Release - January 28, 2008
20/12/2007Acquires New Volcanic-Hosted Massive Sulphide Occurrence at ...
01/11/2007New Uranium Corridor on its Thor Property in Northwestern On...
22/10/2007 Spend $7.5 Million to Gold Properties in New Brunswick
09/10/2007Announces Filing of Quest Uranium Corporation Preliminary Pr...
01/10/2007Prioritizes Exploration Targets on its Mcfaulds Property, On...
11/07/2007Acquires Croon Lake Uranium Property in Northwestern Ontario...
23/05/2007Acquires Dalhousie Mountain Nickel-Copper-Vanadium Property ...
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