Freeport announces fluorite-moly study published

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[{"type":"text","content":"\n\n\n\nTSX Venture Exchange: FRI\n\n\nShares Issued: 13,486,232\n\n\nVANCOUVER, March 11 /CNW/ - FREEPORT RESOURCES INC. (TSX-V: FRI) is\npleased to announce completion of a detailed mineralogical and petrographic\nstudy on its Q claims near Williams Lake. The work was recently published as a\nBC Geological Survey Fieldwork article available at the following link: Eaglet\nProperty Revisited: Fluorite-Molybdenite Porphyry-like Hydrothermal System.\nWritten by Z.D. Hora, M.Sc., P.Geo., with Dr. Edvin Pivec of the Czech\nRepublic, the study discusses different types of mineralization at the Q, as\nwell as relationships of individual minerals of economic interest. Although\nevaluated primarily as a fluorspar deposit by Eaglet Mines Ltd. from 1973-85,\nmolydenite and fluorite are now of interest given recent prices of molybdenum\noxide at US$34/lb and fluorspar at US$180-280/tonne.\n\n\nAs described in the study, host rock is interpreted as a replacement\nproduct of the interaction of alkali sodium and successive potassium-bearing\nfluids with a consolidated orthogneiss series with metasedimentary\nintercalations. This process, followed by hydrothermal activity contributing\nquartz, molybdenite, fluorite, carbonates and celestite with few minor\nminerals, is considered to be an aureole of a well-differentiated granitic\nbody at depth. Cretaceous in age (by dating of mica and fluorite), the\nintrusion is thus within the range of stocks and dikes with known molybdenum\nmineralization in the Quesnel and Kootenay Terrane. The large-scale potassic\nalteration zone evident on surface suggests that the intrusion is potentially\nof a significant size.\n\n\nDistribution of fluorspar (calcium fluoride) and celestite (strontium\nsulphate) is mainly controlled by mechanical properties of more brittle host\nrocks susceptible to fracturing, and percolation by hydrothermal fluids.\nMolybdenite has been observed mostly along schistosity and in quartz-filled\nveinlets. Recent review of high resolution air photo imagery confirms a\nconcentration of linear fracture patterns in the vicinity of Adit 2, near the\ncontact between granitic orthogneisses and metasedimentary rocks. This zone\ncoincides with an area of significant fluorspar mineralization at the\nnortheast end of Adit 2. It also coincides with areas of elevated MoS(2) in\nboth Adit 2 and in n...

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