Freeport announces fluorite-moly study published



    TSX Venture Exchange: FRI
    Shares Issued: 13,486,232

    VANCOUVER, March 11 /CNW/ - FREEPORT RE

SOURCES INC. (TSX-V: FRI) is pleased to announce completion of a detailed mineralogical and petrographic study on its Q claims near Williams Lake. The work was recently published as a BC Geological Survey Fieldwork article available at the following link: <a href="http://www.em.gov.bc.ca/DL/GSBPubs/GeoFldWk/2007/05-Hora-Eaglet19668.pdf">Eaglet</a> <a href="http://www.em.gov.bc.ca/DL/GSBPubs/GeoFldWk/2007/05-Hora-Eaglet19668.pdf">Property Revisited: Fluorite-Molybdenite Porphyry-like Hydrothermal System</a>. Written by Z.D. Hora, M.Sc., P.Geo., with Dr. Edvin Pivec of the Czech Republic, the study discusses different types of mineralization at the Q, as well as relationships of individual minerals of economic interest. Although evaluated primarily as a fluorspar deposit by Eaglet Mines Ltd. from 1973-85, molydenite and fluorite are now of interest given recent prices of molybdenum oxide at US$34/lb and fluorspar at US$180-280/tonne. As described in the study, host rock is interpreted as a replacement product of the interaction of alkali sodium and successive potassium-bearing fluids with a consolidated orthogneiss series with metasedimentary intercalations. This process, followed by hydrothermal activity contributing quartz, molybdenite, fluorite, carbonates and celestite with few minor minerals, is considered to be an aureole of a well-differentiated granitic body at depth. Cretaceous in age (by dating of mica and fluorite), the intrusion is thus within the range of stocks and dikes with known molybdenum mineralization in the Quesnel and Kootenay Terrane. The large-scale potassic alteration zone evident on surface suggests that the intrusion is potentially of a significant size. Distribution of fluorspar (calcium fluoride) and celestite (strontium sulphate) is mainly controlled by mechanical properties of more brittle host rocks susceptible to fracturing, and percolation by hydrothermal fluids. Molybdenite has been observed mostly along schistosity and in quartz-filled veinlets. Recent review of high resolution air photo imagery confirms a concentration of linear fracture patterns in the vicinity of Adit 2, near the contact between granitic orthogneisses and metasedimentary rocks. This zone coincides with an area of significant fluorspar mineralization at the northeast end of Adit 2. It also coincides with areas of elevated MoS(2) in both Adit 2 and in nearby drill holes analyzed by Freeport to date. Recent assays of samples representing the full extent of Adit 2 and 15 drill holes from the 1980's are currently under review by Freeport and further details will released shortly. Mineralogy was investigated at the Institute of Geology, Academy of Sciences of the Czech Republic in Prague, with optical microscopy, X-ray powder diffractometry and electron microprobe microanalytical techniques. Freeport provided logistical support for the study, which was based on 2007 sampling as well as review of its technical and historical data. Z.D. Hora, P.Geo. is the Qualified Person who has reviewed this release. Please see Q releases dated 2007: 08.01 & 01.26, and 2005: 12.15 & 06.29 for more information, and visit our new website, soon to be launched at www.freeportresources.com. Freeport Resources, founded in 1981, is a junior mineral exploration company listed on the TSX Venture Exchange. Freeport has landholdings in Labrador and B.C., with a special focus on industrial minerals, precious and base metals, and gemstones. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. %SEDAR: 00006031E

For further information:

For further information: Freeport Resources Inc., Brenda Clark, MAIBC,
President & CEO, 1-888-275-7335 (toll free), (604) 275-7335 (tel.),
freeportresources@shaw.ca

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