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Freewest Resources Canada Inc.

Publié le 16 janvier 2009

Significant Chromite Intersections Returned From Two Additional Holes

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Mots clés associés :   Canada | Chrome | Copper | K Street | Nickel | Palladium | Precious Metals |
January 16, 2009
Freewest Resources - Press Release


Freewest Resources Canada Inc.: Significant Chromite Intersections Returned From Two Additional Holes-Big Daddy Chromite Deposit in the James Bay Lowlands of Northern Ontario


HIGHLIGHTS

- HOLE FW-08-22 ENCOUNTERS 42.08% Cr2O3 OVER 34.8 METERS;

- HOLE FW-08-23 UNDERCUTS 22 AND ENCOUNTERS 34.96% Cr2O3 OVER 42.0 METRES

- HOLE FW-08-22 AND 23 ENCOUNTER INTRIGUING PLATINUM AND PALLADIUM VALUES RELATED TO CHROME MINERALIZATION INCLUDING 4.0 METRES OF PGE MINERALIZATION AVERAGING 1.08 g/t PLATINUM AND 1.5 g/t PALLADIUM


TORONTO, ONTARIO-(Jan. 16, 2009) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) "Freewest", Spider Resources Inc. (TSX VENTURE:SPQ) "Spider" and KWG Resources Inc. (TSX VENTURE:KWG) "KWG" announce the receipt of additional assays from Holes FW-08-22 and 23, the last two holes drilled during 2008.

During 2008, the main exploration focus of the Spider-KWG Joint venture was the massive chromite occurrence that was first discovered on the Freewest Option property in March of 2006. As a result of the 2008 drilling program that included 19 drill holes, 14 of which continued the testing of this chrome occurrence, the occurrence is now referred to as the "Big Daddy Chromite Deposit". This deposit is located approximately 3.6 kilometers northeast of Noront Resources Ltd's ("Noront") Eagle One Magmatic Massive Sulphide (Nickel Copper and PGM), or five 5 kilometers northeast of Noront's Blackbird (Chromite) discoveries, as well as 4 kilometers southwest of Freewest's Black Thor Chromite discoveries.

ASSAY DATA RECENTLY RECEIVED FOR BIG DADDY

Analytical results have recently been finalized for two holes drilled in October 2008: FW-08-22, and FW-08-23. Each of these holes intersected massive chromite as previously announced (December 15, 2008). The following table (Table 1) provides details of assays received from the two holes not previously reported.



The above tabulation of drill intercepts and assay results are core lengths only, and do not represent true width for the mineralized zones. Additional drilling is required to determine true widths. Cr:Fe ratios as presented herein are based upon whole rock analyses, where Cr content is low, the ratio becomes less meaningful, as the Fe in the silicate portion tends to dilute the Cr in this calculation, but does not dilute the Cr contained within the mineral chromite, more metallurgical work is needed to fully understand this.

As previously announced, (December 15, 2008) diamond drilling by the Spider/KWG JV on the Freewest Option property has identified a northeast trending zone of continuous chromite mineralization that extends from local grid line 9+00 meters NE to 13+00 metres NE along a strike length of 400 metres. The mineralized zone dips towards the NW at about 70 degrees and consists of varying widths of a variable tenor, in many instances high tenor of chrome, forming a series of stacked beds. Additional infill drilling will be required to confirm continuity of the beds from section to section. The deposit remains open to depth as well as along strike in both directions. In addition, drilling to confirm the upward extension of the mineralization to surface has not been completed. All drill and assay results are being added to a 3-D Gemcom model to visualize the chromite body. A number of faults were noted from the drilling, some of which occur at the contact of the chromite with the surrounding peridotite/dunite; these fault sets are also being modeled as they also affect the interpretation and continuity of the mineralization from section to section.

All drilling on the Big Daddy Chrome Deposit took place with reference to a local drill grid, labeled Grid J. The drills were set to drill grid south normally at 150 degrees in most instances, and the initial dip of each hole was set at -50 degrees. Table 2 provides drill collar co-ordinates for these five holes, as well as other holes previously drilled (and reported upon) on the Big Daddy Chrome occurrence, all azimuth directions are true North readings. The UTM spheroid used for determining location was NAD 83 Zone 16, both UTM and local grid co-ordinates are given.



Hole FW-08-22 on local grid section L13+00E intersected two main areas of chromite mineralization, including a short (2.7 metres) section between 54.3 and 57.0 metres that returned 6.12% Cr2O3. Further down this hole, a much wider zone (106.4 metres) of chromite mineralization was encountered between 192.2 and 298.5 metres that averaged 19.41% Cr2O3, including a much higher grade interval between 263.7 and 298.5 metres (34.8 metres) that averaged 42.08% Cr2O3 that exhibits a favourable Cr:Fe ratio of 1.81. The chromite mineralization was followed by a 4.5 metre section between 298.5 and 303 metres downhole that averaged 1.33 total precious metals.

Hole FW-08-23 on local grid section L13+00E undercut hole FW-08-22 and intersected a well mineralized chrome section over 114.5 meters containing an average of 17.65% Cr2O3, including a much stronger mineralized section where a 43.5 meter zone of massive chromite averaged 34.96% Cr2O3 including a 19.0 meter section averaging containing 40.0% Cr2O3 with a Cr:Fe ratio of 1.85. Then between 378.0 and 382.0 a 4 metre drill interval averaged 40.84% Cr2O3 as well as total precious metals of 2.66 g/t. The latter intercept also has a very favourable Cr:Fe ratio of 1.67.

CURRENT PROGRAM

Crews mobilized to the field on January 8th to resume the linecutting program in preparation for the 2009 program, details of which were announced December 15th 2008. The current approved phase of exploration includes: line cutting (re-establishing a 2004 drill grid - the J grid - including extensions thereto), ground geophysical surveying (including magnetic gradiometer and gravimetric surveying), re-logging of historical core to standardize lithological units, infill sampling of zones of weaker chromite mineralization, as well as the preparation of a NI-43-101 technical report on the project. The preparation of this NI 43-101 report was awarded to Micon International Ltd. a world recognized consulting firm, with expertise in chromite deposits, the geologist assigned to this has recently visited the project site as required during Micon's review of the project.

Future plans, yet to be approved by the Joint Venture committee, include the continued exploration of the project by extensive diamond drilling to delineate and to continue to expand the resource potential of the Big Daddy Chrome Deposit.

JOINT VENTURE MATTERS

Spider and Joint Venture partner KWG (the optionees), recently received confirmation notice from Freewest (the optionor), that: (i) pursuant to section 2.04 of the Agreement, each of KWG and Spider has incurred an aggregate of $1,500,000 of Expenditures on or before October 31, 2009, of which at least $200,000 was incurred on or before February 28, 2006; and (ii) accordingly, each of KWG and Spider has earned a 25% interest in the Property pursuant to section 2.07 (a) of the Agreement.

SAMPLE PROTOCOL, SECURITY, ANALYSES

All drill holes were logged and samples referred to herein were completed and selected under the supervision of Howard Lahti Ph.D., P.Geo, of Fredericton New Brunswick. The samples were sawn in half, with half of the core retained for further work and/or storage at the main base camp at McFaulds Lake. The split samples were placed into individual plastic bags, clearly labeled and tagged and then sealed in rice bags where a numbered seal lock was applied. The sealed rice bags were shipped via bonded carrier to Activation Laboratory's (ActLab) new facility in Thunder Bay, Ontario. The samples were then entered into ActLab's system for preparation, processing and analyzing. After initial processing at the Thunder Bay facility of ActLab the samples were shipped via lab - lab bonded courier to ActLab's main laboratory in Ancaster, Ontario. The samples all underwent multi-element analysis using four acid digestion followed by Inductively Coupled Plasma analysis (TD-ICP). Where over-limits in nickel and copper are encountered in the first pass, Optical Emission Spectrometry (ICP-OES) is used to provide the over-limit results, while Fire Assay Inductively Coupled Plasma (FA-ICP) is used for over limits in gold, platinum and palladium. Additional analyses using Instrumental Neutron Activation Analysis (INAA) were completed for all samples for their chrome contents in excess of 1% chrome. For more information on these analytical techniques please refer to Activation Laboratory website www.actlabs.com

Freewest is a well-financed mineral exploration corporation with over C$9.0 million in working capital. It is actively exploring for gold, base-metals and chromite 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 this news release.

CONTACT INFORMATION:
Freewest Resources Canada Inc.
Mackenzie I. Watso
President and CEO
(514) 878-3551 or 1-888-878-3551
Fax: (514) 878-4427
Email: info@freewest.com
Website: http://www.freewest.com

or

Bay Street Connect
Michael D'Amico
Investor Relations
(647) 500-6023


   
   
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Freewest Resources IR HUB


   


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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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