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Freeport reports Spanish Mountain Airborne Survey completed
Freeport reports Spanish Mountain Airborne Survey completed.
About this update from Freeport Resources Inc.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange: FRI\nShares Issued: 12,966,232\n\n\nVANCOUVER, Feb. 20 /CNW/ - FREEPORT RESOURCES INC. (TSX-V: FRI) announced\ncompletion of an airborne geophysical survey over its Juan A property (150\nhectares) at Spanish Mountain, BC. Juan A, 100%-owned by Freeport, is\nimmediately adjacent to claims held by Skygold Ventures Inc. and Wildrose\nResources Ltd. (TSX-V: SKV & WRS), and approximately 600 metres from their\nprimary mineralized zone. Results from several SKV-WRS drill holes located\nwithin 100 metres of Freeport's claim boundary are pending.\n\n\nData from the airborne survey conducted by Skygold-Wildrose received this\nweek suggests structural continuity from the 'Main Zone' - the historic CPW\nblock, where significant gold mineralization was first discovered - extending\nacross Freeport's block. Most importantly, Juan A appears to coincide with\nresistivity lows as interpreted by SKV-WRS, and favourable for sediment-hosted\ngold mineralization.\n\n\nAs explained in Skygold-Wildrose's November 9, 2006, news release,\n\"Preliminary data has been received from a Dighem multicoil, multifrequency\nelectromagnetic survey conducted over the Spanish Mountain property.\nResistivity data reveals that the majority of mineralization in the South,\nCentral and North Main Zones is situated within or on the flanks of\nnorthwest-southeast trending resistivity lows. These lows are likely outlining\nbroad zones of argillite stratigraphy favourable for sediment hosted gold\nmineralization.\" Independent interpretation of the airborne data by Freeport\nwill commence shortly.\n\n\nTo date, Skygold-Wildrose have successfully established a \"1.2 km\nnorth-south corridor of mineralization\", with a 450 metre wide east-west\ncomponent, by regional geochemical sampling, an airborne geophysical survey\nand an extensive drilling program, defining \"numerous exciting new drill\ntargets\". Soil sampling has demonstrated \"...peak values of up to 985 ppb\ngold\", with \"rock sample results greater than 2.0 g/t gold with high grade\ngrab samples returning values of up to 41.0 g/t gold in quartz veins.\" (Please\nsee Skygold-Wildrose news releases filed on SEDAR July 12, and November 9,\n2006, for more complete information.)\n\n\nSpanish Mountain is road accessible and near the historic placer mining\ncommunity of Likely, in the...