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Freeport Finds Molybdenite in Q's Adit No. 1
Freeport Finds Molybdenite in Q's Adit No. 1.
About this update from Freeport Resources Inc.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange: FRI\n\n\nShares Issued: 13,166,232\n\n\nVANCOUVER, Aug. 1 /CNW/ - FREEPORT RESOURCES INC. is very pleased to\nannounce that recent field work has verified molybdenite in samples from both\nadits and in core from various drill holes. This is of significance as\nmolybdenite (MoS(2)) had previously been reported only in Adit No. 2,\napproximately 279 metres (915 ft) to the east of Adit No.1. Because of a\nlarge-scale potassic alteration zone and the presence of molybdenite, the Q is\nnow being evaluated as a possible molybdenum (Mo) porphyry. Preliminary\nmetallurgical testing of Adit No. 2 samples by Dr. Bern Klein of BC Mining\nResearch Ltd. resulted in a successful initial molybdenite concentrate (see\nDec.15/05 release).\n\n\nCurrent work at the Q is focussed on both the genesis and extent of\nmineralization. The Q claims encompass a large fluorite deposit extensively\nworked by Eaglet Mines from 1973-85. Lead-zinc, molybdenum and strontium\nmineralization are also encountered. As the relationship between the different\ntypes of mineralization at the Q is not well understood, a mineralogical and\npetrographic study of samples collected this past month is underway. The study\nwill make use of various laboratory methods to gain a better understanding of\nthe nature of the deposit and the relationships of individual economically\ninteresting minerals. 2007 work is also expected to include 3D computer\nmodelling of previous drilling and underground workings.\n\n\nAnalysis of samples from previous exploration programs continues. Chip\nsamples from the full extent of diamond drill hole S11-81, drilled near the\nmouth of Adit No. 2, have been submitted for assay, and will be analyzed for\npresence of molybdenite (MoS(2)) as well as fluorspar (CaF(2)). Should results\nwarrant, this hole can easily be re-entered. Previous observation of S11-81\ncore indicated significant visible molybdenite at 26.5 m (87 ft) depth.\n\n\nTo briefly summarize previous results released January 26, 2007, about\n25% of some 500 Adit No. 2 pulp samples have anomalous molybdenum, from 100 to\n1143 ppm. Because of widespread molybdenite in Adit No. 2, Freeport has\nacquired a 2 km zone around the original workings and now holds 48 units\n(12 sq.km., 4.6 sq.mi.) on the north arm of Quesnel Lake. The Q is NE of\nHorsefly in B.C.'s Ca...