Business
Freeport outlines Spanish Mountain developments
Freeport outlines Spanish Mountain developments.
About this update from Freeport Resources Inc.
[{"type":"text","content":"\n\n\n\n\n>\n\nVANCOUVER, July 20 /CNW/ - FREEPORT RESOURCES INC. is pleased to announce\nnew developments at its Juan A gold property (6 units) at Spanish Mountain\nnear Likely in the Cariboo - the heart of BC's \"Gold Rush\" and currently one\nof BC's most active exploration areas. Juan A is directly east and adjacent to\nclaims held by Skygold Ventures Inc. and Wildrose Resources Ltd. (TSX-V: SKV &\nWRS), where an intensive 30,000 metre drill program is currently underway. The\nJuan A is less than half a mile east of the mineralized zone, reportedly open\ntowards Freeport's ground. As Skygold-Wildrose summarized:\n\n\"The mineralization intersected in holes 287, 288 and 289 has increased\nthe width of the central portion of the Main Zone by at least 150 metres\nwhich increases the overall width to over 350 metres. It is now believed\nthat the 1.2 kilometres north-south corridor of mineralization\nrepresented in earlier interpretations has a significant east-west\ncomponent.\" \"(Drill) holes 287 and 288 ... showed that mineralization\ncontinues and has increased in grade and width to the east. Previous\ninterpretations would have closed the mineralization east of holes 286\nand 261, it now remains open.\"\n\nSkygold's President Doug Fulcher states, \"I am extremely pleased with\nthis first phase of results from the on-going drill program. The fact\nthat the Main Zone has increased in width dramatically with only four\ndrill holes shows the potential for rapid expansion of this gold system.\nOur initial interpretation of the strike potential of this zone remains\nunchanged, however our interpretation of the width and thickness of the\nlower zone has been greatly under-estimated. Field personnel have already\nreacted to this change in interpretation and are mobilizing a second\ndrill rig to continue to expand this remarkable gold system.\" (Please see\nSkygold-Wildrose news release filed on SEDAR July 12, 2006, for complete\ninformation.)\n\nOn an administrative note, Freeport wishes to thank Peter Dimmell for his\ncontribution as a Director over the past 6 months. On his resignation, we wish\nMr. Dimmell all successes in his future endeavours.\n\nFreeport Resources, founded in 1981, is a junior exploration company\nlisted on the TSX Venture Exchange. Freeport has landholdings in Labrador and\nB.C., with a special focus on ...