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Freeport Announces Molybdenum Results From The Q's Adit No. 2
Freeport Announces Molybdenum Results From The Q's Adit No. 2.
About this update from Freeport Resources Inc.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange: FRI\n\n\nShares Issued: 12,876,232\n\n\nVANCOUVER, Jan. 26 /CNW/ - FREEPORT RESOURCES INC. is very pleased to\nrelease assay data from its Q Claims (16 units) near William's Lake in the\nCariboo region of B.C. These are the first comprehensive analytical results\nconfirming widespread presence of molybdenum (Mo) in Adit No. 2.\n\n\nOf some 500 pulp samples analyzed by 34 element ICP assay, about a\nquarter have anomalous molybdenum. Specifically, 86 samples contain Mo ranging\nfrom 100 ppm to a maximum of 1143 ppm, and an additional 41 samples range from\n70 ppm to 99 ppm. These results are very encouraging and merit further\nconsideration and follow-up, including correlation with previous structural\nmapping of the Adit by Dr. P. Read. The significance of zones with higher\nvalues and their continuity is under study.\n\n\nIt is of note that high silver values do not appear to correlate with\nhigh Mo, indicating that it is unlikely that the molybdenum-bearing\nmineralization is contaminated with galena/sphalerite. The Q assays clearly\nindicate that the 2 mineralization types are independent.\n\n\nThe Q claims were staked over a large fluorite deposit extensively worked\nby Eaglet Mines in the 1970-80's. The samples noted above represent the ribs\nand rounds of Adit No. 2, prepared and stored at the site since that time.\nPrevious work by Eaglet Mines was not made public and the results of their\nanalytical work are not available.\n\n\nMany of the world's major mines of hydrothermal origin have fluorine\nzones as a 'halo' around ore bodies of other minerals, such as silver, zinc,\nlead, molybdenum, tungsten and sometimes gold. At the Q, large-scale potassic\nfeldspar alteration suggests a possible porphyry deposit at depth. Current\nfindings suggest that the Q should be evaluated as a relatively untested\nporphyry-type molybdenum deposit.\n\n\nFreeport is now actively seeking the involvement of a major company to an\nend of further developing the property.\n\n\nZdenek Hora, P.Geo., is the Qualified Person who has reviewed this\nrelease.\n\n\nFreeport Resources, founded in 1981, is a junior mineral exploration\ncompany listed on the TSX Venture Exchange. Freeport has landholdings in\nLabrador and B.C., with a special focus on industrial minerals, precious\nmetals, and gemstones.\n\n\nRespectfully sub...