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