Freewest Intersects 12.45 g/t Gold Over 4.50 Metres and 12.51 g/t Gold Over 3.00 Metres at Clarence Stream, New Brunswick
Wednesday February 28, 10:40 am ET
MONTREAL, QUEBEC--(CCNMatthews - Feb. 28, 2007) - Freewest Resources Canada Inc. (TSX VENTURE:FWR - News; the "Company") is pleased to announce the results of diamond drilling recently completed on its Clarence Stream property (the "Property"), as well as the results of preliminary metallurgical test work undertaken on the Property's Central Zone.
The 100%-owned Property consists of 11,296 hectares and is well located close to infrastructure, 70 kilometres southwest of Fredericton in south-western New Brunswick.
A total of 15 drill holes testing a 225-metre strike length of the East Zone, were completed by the Company with the objective of adding to the gold mineral resource.
The East Zone is the site of previous limited shallow drilling by Freewest and comprises a small Inferred Mineral Resource of 75,810 tonnes grading 6.36 g/t gold, or 15,509 ounces of gold.
The subject drilling has significantly expanded the East Zone along strike as well as to depth, effectively increasing the gold mineral resource.
The East Zone remains completely open along strike and has only been drilled to a maximum depth of 100 vertical metres. Highlighting the results of the drilling are intercepts including 12.45 g/t gold over 4.50 metres (CS07-240), 12.51 g/t gold over 3.00 metres (CS07-246) and 11.97 g/t gold over 2.00 metres(CS07-249).
The results for holes CS07-241 to CS07-244 inclusive are pending. The significant drill intercepts are as follows:
Hole No Coordinates Dip From To Interval Gold Comments
(metres) (metres) (metres) (metres) (g/t)(1)
-------------------------------------------------------------------------
CS07-237 L1975E, -45 40.50 47.00 6.50 4.35 East Zone
100N degrees Incl. 47.00 2.00 10.29
45.00
-------------------------------------------------------------------------
CS07-240 L2150E, -45 21.00 30.00 9.00 6.72 East Zone
66.5N degrees Incl. 30.00 4.50 12.45
25.50
-------------------------------------------------------------------------
CS07-241 L2100E, -45 Assays Pending
070N degrees
-------------------------------------------------------------------------
CS07-242 L2200E, -45 Assays Pending
050N degrees
-------------------------------------------------------------------------
CS07-243 L2025E, -45 Assays Pending
100N degrees
-------------------------------------------------------------------------
CS07-244 L2000E, -45 Assays Pending
125N degrees
-------------------------------------------------------------------------
CS07-245 L2050E, -75 92.00 93.50 1.50 6.50 East Zone
125N degrees Incl. 93.00 0.50 16.30
92.50
-------------------------------------------------------------------------
CS07-246 L1975E, -45 65.00 68.00 3.00 12.51 East Zone
125N degrees 88.00 89.50 1.50 3.19
-------------------------------------------------------------------------
CS07-247 L1975E, -70 83.00 85.00 2.00 5.71 East Zone
125N degrees
-------------------------------------------------------------------------
CS07-249 L2175E, -45 83.00 85.00 2.00 11.97 East Zone
125N degrees
-------------------------------------------------------------------------
CS07-250 L2175E, -60 93.00 94.50 1.50 7.37 East Zone
130N degrees
-------------------------------------------------------------------------
(1) Assays performed by ALS Chemex of Val d'Or, Quebec using the fire assay
method using 30 grams of prepared sample
METALLURGICAL TEST WORK:
The Central Zone is the most advanced and largest of the gold deposits discovered to date on the Clarence Stream property. Given the increase in the gold price over the last quarter and strong price forecast for the near to mid term, it was timely to complete bench-scale mineral beneficiation work at this stage. A one-hundred and twenty (120) kilogram representative sample of diamond drill core from the Central Zone was sent to CANMET Mineral Technology Branch of Natural Resources Canada for this purpose. The test results indicate that the head grade of the Central Zone ore is 8.00 g/t gold and that an encouraging 88.3% of the gold is recoverable using conventional cyanidation leach.
Similar metallurgical test work is being undertaken on the AD Zone, one of the distal deposits on the Property. Such testing will determine the gold recovery as well as the recoveries that can be expected for antimony. The AD Zone contains an Indicated Mineral Resource of 6,395,000 pounds of antimony in addition 44,000 ounces of gold. It currently remains open down-plunge.
CURRENT EXPLORATION WORK:
Diamond drilling will resume at the East Zone and at several other gold zones on the Property following a 2 week break. Drilling is expected to continue until the spring thaw and will start-up immediately thereafter. The intent of an accelerated drill program this winter and spring is to update the National Instrument 43-101 compliant mineral resource from the 2005 calculation prepared by Scott Wilson RPA. The 2005 mineral resource calculation comprises an Indicated Mineral Resource of 648,000 tonnes grading 7.30 g/t gold, or 152,000 ounces of gold and an Inferred Mineral Resource of 540,000 tonnes at a grade of 6.58 g/t gold, amounting to 115,000 ounces of gold.
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.
Freewest is a well-funded mineral exploration company 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
biz.yahoo.com |
