TSX Venture Exchange: FRI
Shares Issued: 16,831,232
VANCOUVER, Oct. 24, 2012 /CNW/ - Freeport Resources Inc. (FRI: TSX-V) is pleased to announce the Q fluorspar project was presented by invitation at the international fluorspar conference this week in Vancouver. This event, hosted by Industrial Minerals Events of the UK, brings together key participants with serious fluorspar (CaF2) interests from all over the world. Freeport's 100%-owned Q is the most significant fluorspar deposit known in western Canada. Extensive exploration in the 1980's by Eaglet Mines defined several large mineralized zones, with non 43-101 compliant estimates of 24 million tonnes of 11.5% CaF2. New analytical results released by Freeport this past May are very encouraging, as long intercepts suggest the possibility of bulk open pit mining as well as higher grades near the end of the Adit 2 (see news release dated May 1, 2012).
The site was previously abandoned when fluorspar prices dropped below US $100/tonne. The price of fluorspar at present is significantly higher - recently up to $550-600/tonne due to reduced exports from China. Fluorspar is a mineral considered "critical" by the European Union, used to make hydrofluorocarbons (HFCs) used in coolants, and fluoropolymers. It is instrumental in energy reduction in metal smelting and similar processes (i.e. cement, glass), as fluorspar lowers melting temperature of numerous compounds. It is also instrumental in aluminum production. Please visit http://www.freeportresources.com/i/pdf/corporatepresentation.pdf to view the Q presentation.
Zdenek Hora, M.Sc., P.Geo., is the qualified person who has reviewed this release.
Freeport Resources, founded in 1981, is a mineral exploration company with a portfolio of promising, diversified properties in Canada, from precious and base metals to industrial minerals. Please visit our website at www.freeportresources.com, email [email protected], or view our other presentations at http://www.freeportresources.com/i/pdf/Hutton2011.pdf and http://www.freeportresources.com/i/pdf/spanishmt2011.pdf for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Freeport Resources Inc.
For further information:
Brenda Clark, MAIBC
President & CEO
1-888-275-7335 (toll free)
(604) 275-7335 (tel.)