MONTREAL, QUEBEC-(Jan. 9, 2009) -
Freewest Resources Canada Inc. (TSX VENTURE:FWR) and Rockport Mining Corp. (Rockport) are pleased to report the results of additional diamond drilling completed on the Clarence Stream property (the "Property") in late 2008. The Property comprising 11,296 hectares, is located proximal to infrastructure, 70 kilometres southwest of Fredericton and 10 kilometres east of the Mount Pleasant tin-tungsten-molybdenum-indium deposit in Charlotte County, southwestern New Brunswick.
EAST ZONE DRILLING RESULTS:As documented in the news release dated June 13, 2008, drilling at Clarence Stream has identified 2 deposit areas known as the Proximal and Distal deposits. The Proximal deposits occur over a minimum strike length of 3.6 kilometres. Most of the mineralized zones are remain open along strike and to depth, offering excellent potential for resource expansion (Figure 1).
The late 2008 drilling of the Proximal deposit trend tested the East Zone area where previous drilling has been shallow, generally above the 100-metre level. Highlighting the drill results is an intersection of 8.24 g/t gold over 5.00 metres obtained in drill hole CS-08-308. This hole, in concert with 5 other holes (CS-08-306, 307, 309, 310 and 311) yielded significant gold values over a 200-metre strike length and to a vertical depth of 250 metres (Figure 2). The mineralization is completely open at depth and along strike to the east, clearly indicating potential for further resource expansion. The significant intercepts obtained from the East Zone area drilling are as follows:
In all, 11 drill holes were completed testing a 600-metre segment of the East Zone below the 100-metre level. Gold mineralization occurs in quartz veins and stock-work hosted within altered siltstone.
Figures 1 and 2 comprise part of this news release and are posted on the Freewest website at
http://www.freewest.com FUTURE WORK:The immediate goal of planned drilling at Clarence Stream is to increase the mineral resource to the 1 million-ounce-plus range. The next phase of exploration will incorporate:
- further in-fill, step-out and deeper drilling at the East Zone area,
- additional drilling of the highly prospective East and West Extension locales of the Proximal Deposit trend, both situated along-strike and down-plunge from known zones of mineralization (Figure 1).
- updating the property's mineral resource estimate, and
- completing a Preliminary Economic Assessment ("scoping study") to examine the viability of commercial production. The "scoping study" is anticipated for completion in the second quarter of 2009.
The latest 43-101 compliant mineral resource estimate for the Property contain an Indicated Mineral Resource of 815,000 tonnes at a grade of 8.99 g/t gold (uncut) yielding 235,000 ounces of gold, and an Inferred Mineral Resource of 660,000 tonnes grading 7.35 g/t gold (uncut) containing 156,000 ounces of gold (Scott Wilson Roscoe Postle Associates, June 2008). It is important to note that the mineral resource incorporates results only up to drill-hole CS08-272 and that 40 additional holes have been drilled since the resource update. These hole have encountered significant mineralization such as 7.11 g/t gold over 5.00 metres, 17.25 g/t gold over 5.00 metres, 9.71 g/t gold over 5.00 metres and 8.24 g/t gold over 5.00 metres in drill holes 273, 290, 295 and 208 respectively, have further expanded the limits of gold bearing system and will add to the mineral resource.
In addition to the gold, an Inferred Mineral Resource of 7.3 million pounds of antimony is also present on the Property.
Rockport is currently funding the exploration and resource expansion program at Clarence Stream. Rockport may earn a 30% interest in the Property by spending $3,000,000 on exploration and a cumulative 50% interest by spending an additional $4,500,000 on exploration prior to October 2011.. A cumulative 65% interest may be obtained by Rockport funding the Property through to a feasibility study. Rockport is a private St. Andrews-based (New Brunswick) mineral exploration company.
Glen Lutes, P. Geo. (New Brunswick) is the qualified person on-site at the Clarence Stream property.. Donald Hoy, P. Geo. (Ontario), Vice President of Exploration and a Director of Freewest Resources Canada Inc. is responsible for the preparation of this news release.
McFAULDS 100%-OWNED PROJECT, ONTARIO:In other news, Freewest reports that diamond drilling will shortly resume on the Company's 100%-owned McFaulds property located in northern Ontario.. Two (2) drill rigs will be utilized, the first to continue testing the continuity and extent of the Black Thor chromite zone and the second, to test numerous high-quality copper-nickel-platinum group element targets situated in the footwall to Black Thor.
Drilling by Freewest at Black Thor (late 2008) has traced the zone intermittently over a 1700-metre strike length, returning drill intercepts of 40.4% CR2O3 (over 46.3) metres (part of a wider zone assaying 30.1% Cr2O3 (over 100.8) metres), 30.4% CR203 (over 50.1) metres (part of a broader zone assaying 21.4% Cr2O3 (over 109.7) metres) and 30.7% CR2O3 (over 23.3) metres (part of a wider zone assaying 21.3% Cr2O3 (over 92.4) metres). It remains completely open along strike and to depth. Residual bouguer gravity anomalies defined by a recently completed ground survey, display excellent correlation with the Black Thor chromite zone and are suggestive of the presence of a very large chromite deposit. Results will be released as they become available.
Freewest is a well-funded mineral exploration corporation, with working capital in excess of $9.0 million, exploring for gold, base-metals and chromite in Eastern Canada. Corporate information can be accessed on the Internet at
http://www.freewest..com. Freewest' shares are listed on the TSX Venture Exchange under the symbol FWR.
The TSX Venture Exchange has not approved and does not accept responsibility for the adequacy or of this press release. CONTACT INFORMATION:Freewest Resources Canada Inc.
Mackenzie I. Watson
President and CEO
(514) 878-3551 or 1-888-878-3551
Fax: (514) 878-4427
Email:
info@freewest.comWebsite: http://www.freewest.com
or
Rockport Mining Corp.
Henry A. Miller
President and CEO
(506) 529-8206
Fax: (506) 529-8595
or
AGORACOM
Investor Relations
Email:
FWR@freewest.comWebsite:
http://agoracom.com/ir/freewest