FWR.v,...gold district expands in New Brunswick Canada,...market cap around CDN$25million FD
Freewest enthusiastic over further Murphy results Freewest Resources Canada Inc FWR Shares issued 57,604,189 Apr 23 close $0.29 Wed 24 Apr 2002 News Release Mr. Mackenzie Watson reports FREEWEST DRILLING EXTENDS MURPHY ZONE AND INTERSECTS NEW ZONE ... Mackenzie I. Watson, president and chief executive officer of Freewest Resources Canada Inc., has released the results of the remaining 23 drill holes obtained from the third phase of drilling, recently completed on the Clarence Stream gold project. The wholly owned property consists of 24,160 acres and is located approximately 70 kilometres south-southwest of Fredericton. Of the 23 drilled holes reported in this release, 16 were completed at the Murphy zone in an effort to extend the mineralized structure along strike and at depth. The Murphy zone comprises one of several new gold showings occurring within the confines of anomaly A, which is a strong persistent gold-in-soil anomaly, 2.3 kilometres long and up to 500 metres wide. Previously completed diamond drilling at the Murphy zone had intermittently traced it over a strike length of 250 metres and featured a drill intercept of 7.33 grams per tonne (g/t) Au over 94 metres (0.214 ounce per ton Au over 29.5 feet), as reported in Stockwatch on March 12, 2002. The additional 16 drill holes completed on the Murphy zone have now delineated the gold-bearing structure over a 600-metre strike length and to a vertical depth of 60 metres. Highlighting these drill hole results are intersections including 8.99 g/t Au over three metres (0.262 ounce per ton Au over 9.8 feet) in hole CS02-77, 3.54 g/t Au over 5.5 metres (0.103 ounce per ton Au over 18 feet) in hole CS02-79 and 4.42 g/t Au over 3.2 metres (0.129 ounce per ton Au over 10.5 feet) in hole CS02-87. Mineralization at the Murphy zone occurs in at least two distinct quartz vein sets. The first set comprises extensional quartz veins in stockwork array, while the second cross-cutting set consists of brecciated, cataclastic veins containing remobilized sulphides as fine- to medium-grained aggregates in breccia filling. Sulphides in both vein sets include pyrite, arsenopyrite, stibnite, pyrrhotite with lesser sphalerite, chalcopyrite and locally visible gold. The veins and stockwork occur in shallow, north-dipping panels, ranging in thickness from three to 10 metres that commonly occur in axial planar shear zones within folded sericitized, quartz arenite and mudstone. Notably, the Murphy zone remains completely open along strike and at depth. Among the remaining seven drill holes completed in the program, five holes tested a second surface gold occurrence within anomaly A known as the AD zone, and the remaining two holes tested a strong IP anomaly. The AD zone comprises numerous showings of high-grade float (assays up to 72.4 g/t Au) occurring in a northwesterly trend over a distance of about one kilometre. Highly encouraging results of 5.85 g/t Au across five metres (0.171 ounce per ton Au over 16.4 feet) and 3.72 g/t Au over two metres (0.108 ounce per ton Au over 6.6 feet) were obtained in this initial drill test of the AD zone in drill holes CS02-92 and CS02-97, respectively. Exploration over the last few years has demonstrated that gold mineralization at Clarence Stream is dominantly sediment hosted, likely intrusion related and characterized by an Au-As-Sb-Zn-Bi association. The Clarence Stream district displays striking regional and deposit-scale similarities with Paleozoic gold deposits of the Tien Shan gold province in east-central Asia, including the Muruntau deposit (70 million ounces Au) and the Kumtor deposit (20 million ounces Au). Both of these deposits are hosted in Paleozoic fold and thrust belts in turbidite sequences and are closely related to tungsten-bearing granitic intrusions. Management is extremely encouraged by the extent of gold mineralization encountered to date at both of the Murphy and AD zones. Mr. Watson commented: "When we combine the drilling results from the Murphy and AD zones with those of the Central, East, N, Cox and West zones, clearly, a widespread district-scale gold mineralizing system exists at Clarence Stream. We look forward to continued success and are optimistic that additional drilling will define significant gold deposits on the Clarence Stream property." An additional 2,000-metre drilling program is slated for early May to further test the numerous gold occurrences within anomaly A.
DIAMOND DRILL ASSAYS, CLARENCE STREAM -- NEW BRUNSWICK
Hole No. Co-ordinates From To & inclination (m) (m)
CS02-75 Drill grid 23.75 31.00 L550W, 170N inc. 30.00 30.50 -90 degrees ---------------------------------------- CS02-76 Drill grid 17.38 19.98 L500W, 179N inc. 17.38 17.98 -90 degrees ---------------------------------------- CS02-77 Main grid 50.25 53.25 L300E, 3000N -90 degrees ---------------------------------------- CS02-78 Drill grid 8.45 11.45 L550W, 140N inc. 10.45 10.95 -90 degrees 15.20 17.80 inc. 16.45 16.95 ---------------------------------------- CS02-79 Main grid 26.38 31.88 L350E, 2925N inc. 26.38 26.88 -90 degrees ---------------------------------------- CS02-80 Drill grid 3.80 5.30 L550W, 100N -90 degrees ---------------------------------------- CS02-81 Main grid 25.80 27.80 L400E, 3000N inc. 27.30 27.80 -90 degrees 51.72 53.62 ---------------------------------------- CS02-82 Main grid 19.30 23.30 L200E, 2900N inc. 22.30 22.80 -90 degrees 25.10 26.10 ---------------------------------------- CS02-83 Drill grid No significant L300E, 100N values -90 degrees ---------------------------------------- CS02-84 Drill grid 37.65 38.65 L350W, 100N -90 degrees ---------------------------------------- CS02-85 Main grid 11.00 14.00 L800E, 3050N inc. 13.50 14.00 -90 degrees ---------------------------------------- CS02-86 Drill grid 149.7 150.20 L350W, 125S -45 degrees ---------------------------------------- CS02-87 Drill grid 55.80 59.00 L550W, 275N inc. 57.00 57.50 -90 degrees ---------------------------------------- CS02-88 Drill grid 52.00 52.40 L600W, 225N -90 degrees ---------------------------------------- CS02-89 Drill grid 44.50 48.00 L500W, 225N -90 degrees ---------------------------------------- CS02-90 Drill grid 53.95 58.95 L501W, 273N -90 degrees ---------------------------------------- CS02-91 Main grid No significant L101W, 2897N values -45 degrees ---------------------------------------- CS02-92 Main grid 31.58 36.58 L100W, 3100N inc. 32.58 33.08 -45 degrees inc. 34.58 35.08 ---------------------------------------- CS02-93 Main grid 8.90 9.60 L101W, 3048N -90 degrees ---------------------------------------- CS02-94 Main grid No significant L200W, 3125N values -45 degrees ---------------------------------------- CS02-95 Main grid 6.80 7.00 L200W, 3676N 67.50 69.50 -45 degrees ---------------------------------------- CS02-96 Main grid No significant L200W, 3600N values -45 degrees ---------------------------------------- CS02-97 Main grid 83.55 85.55 L200W, 3376N -45 degrees ----------------------------------------
DIAMOND DRILL ASSAYS, CLARENCE STREAM -- NEW BRUNSWICK
Hole No. Width Au Remarks (m) (g/t)
CS02-75 7.25 0.83 Murphy zone 0.50 4.01 --------------------------------------- CS02-76 2.60 1.69 Murphy zone, 0.60 5.66 visible gold at 17.58 m --------------------------------------- CS02-77 3.00 8.99 Murphy zone, visible gold from 50.35 m to 50.40 m --------------------------------------- CS02-78 3.00 1.30 Murphy zone 0.50 3.17 2.60 1.85 0.50 5.32 ---------------------------------------- CS02-79 5.50 3.54 Murphy zone, 0.50 11.34 visible gold at 30.20 m --------------------------------------- CS02-80 1.50 1.13 Murphy zone --------------------------------------- CS02-81 2.00 5.13 Murphy zone 0.50 12.79 1.90 0.77 --------------------------------------- CS02-82 4.00 1.14 Murphy zone 0.50 3.84 1.00 1.04 --------------------------------------- CS02-83 No significant Murphy zone values --------------------------------------- CS02-84 1.00 9.45 Murphy zone --------------------------------------- CS02-85 3.00 2.30 Murphy zone 0.50 7.71 --------------------------------------- CS02-86 0.50 1.01 Murphy zone --------------------------------------- CS02-87 3.20 4.42 Murphy zone 0.50 11.27 --------------------------------------- CS02-88 0.40 2.07 Murphy zone --------------------------------------- CS02-89 3.50 2.56 Murphy zone --------------------------------------- CS02-90 5.00 0.84 Murphy zone --------------------------------------- CS02-91 No significant AD zone values --------------------------------------- CS02-92 5.00 5.85 AD zone 0.50 11.27 0.50 10.82 --------------------------------------- CS02-93 0.70 7.20 AD zone --------------------------------------- CS02-94 No significant AD zone values --------------------------------------- CS02-95 0.20 3.48 IP zone 2.00 1.02 --------------------------------------- CS02-96 No significant IP zone values --------------------------------------- CS02-97 2.00 3.72 AD zone --------------------------------------- Assays performed by ALS Chemcx of Val d'Or, Que., using the fire assay method on 30 grams of prepared sample. |