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Freeport participates in Inco's Airborne Gravity Survey
Freeport participates in Inco's Airborne Gravity Survey.
About this update from Freeport Resources Inc.
[{"type":"text","content":"\n\n\n\n\nTSX Venture Exchange: FRI \nShares Issued: 11,885,232 \nFully Diluted: 14,947,732\n\nVANCOUVER, Jan. 19 /CNW/ - FREEPORT RESOURCES INC. is pleased to announce\nan airborne gravity gradiometry survey by Inco Limited has commenced over its\nNotakwanon River property (23 claims, 575 ha) in Labrador. Staked in 1995,\nNotakwanon is located in the heart of Inco's Garland Lake property and 30 km\nsoutheast of the Voisey's Bay deposits. It represents the key component of a\nmuch larger block of 995 claims which was later reduced to retain the most\npromising areas.\nThe survey is intended to delineate the extents of known troctolitic\nbodies, the same rock type which hosts the Voisey's Bay deposits, and also has\nthe potential to directly detect large shallowly buried accumulations of\nmassive sulphides akin to magmatic Ni-Cu-Co deposits at Voisey's Bay. Survey\ncomponents will include gravity gradiometer, a gravimeter, a magnetic\ngradiometer and digital terrain mapping (LIDAR). Freeport will pay a pro-rated\nportion of Inco's larger program and will share data with Inco on Notakwanon\nand on Inco's contiguous ground. The survey will continue in the spring when\nweather conditions improve in Labrador.\nAs previously released (May 2, 2005, and September 1 & 23, 2005), an\naudio-magnetotelluric (AMT) geophysical survey by Inco over the eastern 600m\nof Notakwanon showed the primary geophysical anomaly extending well onto\nFreeport's claims. The AMT anomaly also coincides with an area where\nFreeport's 1996-1997 geological work identified a gabbroic intrusion appearing\nto have steep contacts with host gneisses, possibly representing a portion of\na feeder system. Reports filed by Inco with the Government of NL indicate the\narea surrounding the AMT anomalies is locally underlain by troctolitic rocks\nconsidered favourable for hosting Voisey's Bay style Ni sulphide\nmineralization.\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. Freeport plans a display at the upcoming Newfoundland\nand Labrador rock room at the Cordilleran Roundup in Vancouver on Jan 24 to\n26.\n\n Respectfully submitted\n on behalf of the Board of Directors,\n\n \"B...