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Freeport Updates BC Gold, Tungsten, & Fluorspar-Moly Projects
TSX Venture Exchange: FRI Shares Issued: 13,476,232 VANCOUVER, April 9 /CNW/ - Freeport Resources...
About this update from Freeport Resources Inc.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange: FRI\n\n\nShares Issued: 13,476,232\n\n\nVANCOUVER, April 9 /CNW/ - Freeport Resources Inc. is pleased to give an\noverview of its Spanish Mountain Gold, Red Rose tungsten-gold mine, and Q\nfluorspar-molybdenum projects, all located in B.C.\n\n\nSpanish Mountain Gold (SMG)\n\n\nFreeport's work to date at the Spanish Mountain Gold (SMG) property has\nproven an easterly extension of the large mineralized zone on adjacent claims\nheld by Skygold, less than 0.5 km (0.3 mi) from Freeport's boundary. To\nsummarize, sampling has returned comparable values to Skygold's bulk mineable,\nroad accessible deposit, where updated 43-101 estimates released last month\noutline 2.58 million ounces gold in the measured and indicated categories,\nbased on a cut-off grade of 0.50 g/t. Skygold's mineralized zone has been\ngreatly expanded from previous reports, and now measures about 1.5 km by 2 km\n(.9 mi by 1.2 mi). A 2008 B.C. Geological Survey paper on geochemistry of the\nSpanish Mountain deposit also shows very similar gold values as found at SMG.\nThese developments are all very encouraging. An assessment report filed in\nMarch maintains SMG in good standing for 10 years.\n\n\nRed Rose Mine\n\n\nThe Red Rose, a past-producing tungsten-gold mine in the prolific Rocher\nDeboule mining camp, continues to receive international interest. Freeport has\nbeen in recent discussions with parties from Asia, Australia, and Canada,\nregarding option agreements to outright sale of the 100% owned crown grants.\nTungsten, a strategic metal, is one of few not significantly impacted by the\nmarket downturn. Red Rose has historical tungsten reserves (not NI43-101\ncompliant) in the lower levels nearer the valley floor, where gold values of\nup to 63.8 g/tonne have also been reported. Only a short segment of the\nextensive mineralized structure - over 400 metres (1312') in length - has been\nexplored or subject to mining.\n\n\nQ Fluorspar-Molybdenum (formerly Eaglet)\n\n\nThe Q is a complex deposit with several distinct types of mineralization\nwhich may increase the economic potential of the property. Previous work\ndefined historical reserves (not NI-43-101) of 24 million tonnes with 11.5% of\nfluorite (also called fluorspar, or CaF(2)), widespread accessory celestite,\nsilver (up to 62 g/tonne) and some recoverable galena and sphal...