Business
Freeport's Red Rose Mine Assessed for Gold-Tungsten
TSX Venture Exchange: FRI Shares Issued: 13,476,232 VANCOUVER, July 24 /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, July 24 /CNW/ - FREEPORT RESOURCES INC. (TSX-V: FRI) is\nevaluating its past-producing Red Rose tungsten mine for gold: Bonanza grades\nof 49.0 - 63.8 g/tonne (1.43-1.86 oz/ton) were reported, with samples\nrepresenting 49 m (160 ft) strike length along Adit No. 1 averaging 19.2\ng/tonne over 0.7 m (0.56 oz/ton over 2.1 ft). The Red Rose property consists\nof 15 crown grants 100% owned by Freeport, accessible by an unimproved road\nleading to the provincial highway.\n\n\nThe Red Rose was one of the most important mines of the prolific Rocher\nDeboule mining camp in the Omineca Mining District, BC. It produced over a\nmillion kilograms of tungsten with copper, gold and silver by-products from\n1942 to 1954. Ore was transported to a mill in the valley below the mine's\nextensive workings by an aerial tram. The workings included 12 levels and sub\nlevels, multiple raises, 4 access adits and an inclined shaft following the\nvein from the 600 level down to the lowest level (1100). Importantly, the\nlower levels were only partially mined (800-1100), with some 57,700 tonnes of\nore estimated remaining, including 13,600 tonnes at approximately 1.9% WO(3)\n(BC Government Minfile 093M 067). Although these historical reserves have not\nbeen verified by Freeport and are not NI 43-101 compatible, they are of some\ninterest to ongoing exploration efforts. Low tungsten demand in 1954 after\nWWII prompted closure of Red Rose.\n\n\nScheelite is the main tungsten ore, occurring in a pegmatitic vein\ncomposed mostly of quartz and feldspar. Molybdenite, chalcopyrite and gold are\nfound locally. The vein fills the Red Rose shear. It was mined over 60 to 120\nmetres, from the surface down to the 800 level (335 metres). Freeport's two\nhole drilling program in 1987 intersected the extension of the vein at the\n1450 level, proving its continuity well below the known workings. Freeport has\nrecently completed detailed review of historical literature and a compilation\nreport is underway.\n\n\nAlthough past work concentrated mainly on tungsten, the Red Rose Shear\nhas known copper-gold and silver-lead-zinc showings. The shear is open both\nnorth and south of the mine and remains largely unexplored. Sampling both\nnorth and south of the mine is recommended, especially along t...