Freeport harbours hope: Juan A near Skygold claims
2006-07-20 11:23 ET - News Release
Shares issued 12,756,232
FRI Close 2006-07-19 C$ 0.62
globeinvestor.com
Ms. Brenda Clark reports
FREEPORT OUTLINES SPANISH MOUNTAIN DEVELOPMENTS
Freeport Resources Inc. confirms new developments at its Juan A gold property (six units) at Spanish Mountain near Likely in the Cariboo, the heart of British Columbia's gold rush and currently one of B.C.'s most active exploration areas. Juan A is directly east and adjacent to claims held by Skygold Ventures Inc. and Wildrose Resources Ltd., where an intensive 30,000-metre drill program is currently under way. The Juan A is less than half a mile east of the mineralized zone, reportedly open toward Freeport's ground. As Skygold-Wildrose summarized:
"The mineralization intersected in holes 287,288 and 289 has increased the width of the central portion of the main zone by at least 150 metres, which increases the overall width to over 350 metres. It is now believed that the 1.2 kilometres north-south corridor of mineralization represented in earlier interpretations has a significant east-west component.
"[Drill] holes 287 and 288 ... showed that mineralization continues and has increased in grade and width to the east. Previous interpretations would have closed the mineralization east of holes 286 and 261, it now remains open."
Skygold's president, Doug Fulcher, states: "I am extremely pleased with this first phase of results from the ongoing drill program. The fact that the main zone has increased in width dramatically with only four drill holes shows the potential for rapid expansion of this gold system. Our initial interpretation of the strike potential of this zone remains unchanged. However, our interpretation of the width and thickness of the lower zone has been greatly underestimated. Field personnel have already reacted to this change in interpretation and are mobilizing a second drill rig to continue to expand this remarkable gold system." Please see Skygold-Wildrose news release filed on SEDAR and in Stockwatch on July 12, 2006, for complete information.
On an administrative note, Freeport wishes to thank Peter Dimmell for his contribution as a director over the past six months. On his resignation, the company wishes Mr. Dimmell all successes in his future endeavours. |
