Peter:
Here is the announcement:
Regards
Dan
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: FREEWEST RESOURCES CANADA INC.
ME;TSE SYMBOL: FWR
FEBRUARY 11, 1997
Freewest Resources Canada Reports on Drilling Activity
MONTREAL, QUEBEC--Freewest Resources Canada Inc. is pleased to
report on the status of its various drilling programs.
Botswana
Freewest and joint-venture partner, Fancamp Resources Ltd.
(FNM:VSE) drilled five exploratory diamond drill holes in December
on the Southern Block of the Kalahari Suture Zone properties. The
drilling program was of a reconnaissance geological nature. It
consisted of a total 700 metres of drilling with depths varying
from 75 metres to 200 metres per individual hole and spread along
a distance of approximately 7 km in the eastern part of the block.
The type of rock is a mafic breccia with extensive magnetite-
hematite-chlorite alteration that appears to be of Proterozoic
age. Petrological and geochemical analysis continue to be carried
out from the samples taken. The partners were greatly encouraged
by the good geological results obtained , hence drilling resumed
on January 28, this time in the western section of the block. The
current drilling program is on the main magnetic spine and is
designed to test for possible ultra-basic rock intrusions.
Reconnaisance ground magnetic geophysics in this area have given
evidence of the presence of various cross faults which are, in
themselves, good targets . This first hole is expected to drill
to about 400 metres depth. It is being cased, thus providing the
operators with experience which can be applied to the larger
targets which appear to be covered by more sand. Near term plans
are to continue drilling in a southerly direction and to test,
eventually, what appears to be a possible kimberlitic formation.
Benoit Project, Northwestern Quebec
Murgor Resources Inc. (MUG:ME) is in its fourth week of diamond
drilling at Quevillon where it is earning a 50 percent interest on
Freewest's Benoit gold project. The program is designed to
further test last winter's successful work when the main
Pusticamica zone was found to extend at depth and to delineate, as
well, the new South Gold Zone. It was in this new zone that
drilling intersected 25.9 feet grading 0.21 oz/t Au at a depth of
250 metres. This and the probing of what is believed to be
additional zones will assist both companies in establishing a
revised estimate of the gold resource.
Camking Property, Northeastern Ontario
Freewest and its 50 percent joint venture partner, Detector
Resources Ltd. (DTR:ASE), are in their third week of diamond
drilling the Camking gold property, near Matachewan. This is a
continuation of a program that involved drilling in February and
October of 1996. The property is adjacent to that of Royal Oak
Mines Inc. who have established reserves of 1.2 million ounces in
a low grade gold deposit. Freewest is operator.
Matawin Gold Belt, Northwestern Ontario
Freewest and 50 percent joint venture partner, Greater Lenora
Resources Corporation (GEN:TSE) are presently conducting ground
geophysical surveys on their Matawin properties, 55 km from
Thunder Bay, Ontario. This will help define winter drill targets.
In a recent stripping program, the partners uncovered gold
mineralization in a major altered, deformation zone at the contact
between Timiskaming-type sediments and Keewatin volcanics. Values
of 0.20, 0.43, 0.16 and 0.12 oz/t Au were obtained. Some of the
properties are in close proximity to the discovery made by Battle
Mountain Gold in late 1995.
Magenta Project, Sinaloa, Mexico
Freewest and its 50 percent joint venture partner, Nordic Gold
Corporation (NGC:ASE), will begin diamond drilling in late
February on their 10,000 acre Magenta property in the State of
Sinaloa, Mexico. Following a successful airborne geophysical
survey completed last year, the first targets to be tested are in
areas that have shown exceptionally high values of nickel, cobalt
and gold.
Freewest Resources Canada Inc. is a junior mining exploration
company with currently active programs in Eastern Canada, Botswana
and Mexico. Taking into account private placements involving the
issuance of 1.6 million shares at $1.20/sh in late 1996, the
company will have approximately 18.1 million shares outstanding.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Freewest Resources Canada Inc.
Mackenzie I. Watson
President
(514) 878-3551
(514) 878-4427 (FAX)
1-888-878-3551
or
Freewest Resources Canada Inc.
David Jones
Investor Relations
(514) 878-3551
(514) 878-4427 (FAX)
1-888-878-3551 |
