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MONTREAL, QUEBEC,
CANADA--(CCNMatthews - June 5, 2007) - Mackenzie I. Watson, President
and CEO of Freewest Resources Canada Inc. (the "Corporation")
(TSX VENTURE:FWR), today announces the option of the Lizar gold and
base-metal property (the "Property") located in northwestern
Ontario, whose exploration activities over the last 5 years resulted in
the discovery of several new high-grade gold occurrences, to Noront
Resources Ltd. (Noront) (TSX VENTURE:NOT). The Lizar property consists
of 504 claim units, or 81 square kilometres and is situated in Lizar,
Breckenridge, Namiegos and Mosambik townships, 500 kilometres east of
Thunder Bay and 90 kilometres east of the Hemlo gold mining operations
near Marathon.
The Property is underlain by Archean metavolcanic and metasedimentary
rocks of the Kabinakagami greenstone belt within the Wawa Subprovince.
Significant producing mineral deposits in the White River-Schreiber
area of the Wawa Subprovince include the Winston Lake (3.1MT @ 1.0% Cu,
15.6% Zn, 30.9 g/t Ag) and Geco (58.4 MT @ 1.9% Cu, 3.5% Zn, 50.0 g/t
Ag) volcanic-hosted massive sulphide deposits and the David Bell,
Williams and Golden Giant gold deposits at Hemlo (22 million contained
ounces). Lizar has demonstrated potential to host felsic
volcanic-hosted disseminated gold deposits, volcanic-hosted massive
sulphide deposits and magmatic copper-nickel-platinum group element
deposits.
Gold mineralization at Lizar is hosted within felsic volcanic and
intrusive rocks, as irregular and anastamosing zones of wallrock-hosted
quartz-sericite-pyrite alteration. Such is the case at the new
discoveries at the Kirk, Kyle, Sting and 42 zones, situated in the
central portion of the Property. Grab and channel samples have yielded
assays of up to 32.0, 5.1, 13.1 and 106.6 g/t gold respectively, from
these zones. Quartz veins are minor and appear to have no relationship
with the high gold values. Garnet alteration, sericitic alteration and
mafic dyke complexes are common proximal to gold mineralization. Well
defined induced polarization (IP) anomalies are closely associated with
the auriferous alteration zones and are suggestive of a potentially
large mineralizing system. The Property also hosts a number of historic
gold occurrences including the Stenabaugh discovery, made by Cominco in
1937. This occurrence reportedly assayed 3.4 g/t gold over 8.8 metres
in a channel sample. The Stenabaugh and the new gold occurrences have
never been tested by diamond drilling.
Significant base-metal mineralization occurs in the southwest portion
of the Property at the Namiegos zone, within felsic volcanic rocks.
Heavily disseminated to semi-massive sulphides comprising pyrrhotite,
pyrite, and lesser chalcopyrite and sphalerite occur over widths of up
to 25 metres and an intermittent strike length of 300 metres. Intense
sericite alteration characterizes the host rocks and aluminous
alteration including kyanite and staurolite occur in surrounding rocks.
The mineralized zone coincides with a strong horizontal- loop
electromagnetic (HLEM) conductor and as the case with the gold
occurrences, has not been tested by diamond drilling.
Komatiitic flows and ultramafic intrusions occur near the base of the
volcanic pile at Lizar and offer potential for magmatic
nickel-copper-platinum group element deposits. A single historic drill
hole completed within the ultramafic rocks yielded assays of 0.5%
nickel and 1.3 g/t palladium over a 3-metre core length.
Noront is currently planning an initial program of diamond drilling
comprising 2000 metres, to test the Namiegos base-metal zone as well as
the numerous new gold occurrences on the Property. It is anticipated
that the diamond drilling program will commence in mid June.
Under the terms of the option agreement with Freewest Resources Canada
Inc. Noront may earn a 60% interest in the Property by incurring
$1,000,000 of exploration expenditures over a three-year period and
making an initial payment of $20,000. Noront is committed to spending
$400,000 on exploration during the first year of the agreement. Upon
Noront earning a 60% interest in the Property, further exploration
and/or development of it will be under a joint-venture agreement
involving Noront Resources Limited (60%) and Freewest Resources Canada
Inc. (40%).
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.
Freewest is a well-funded mineral exploration corporation exploring for
gold, base-metals and uranium 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 the press release.
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