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TSX Venture Exchange: FRI
Shares Issued: 12,876,232
Fully Diluted: 15,597,732
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VANCOUVER, Oct. 30 /CNW/ - FREEPORT RESOURCES INC. is pleased to provide
an update on its Hutton property, Labrador. The Request for Proposals (RFP)
process has been extended six weeks to permit completion of the proposals,
with final submissions to be received by January 17, 2007. The RFP outlining
the Hutton development opportunity is available at sedar.com as a public
company document of Freeport Resources, filed June 27, 2006.
Freeport's Hutton project consists of several high grade heavy mineral
sand beaches on Canada's east coast, composed largely of alluvial almandine
garnet. Test work has proven that Hutton garnet is well suited to waterjet
cutting due to grain sizing, sub-angular shape and lack of inclusions. Hutton
concentrates have met or exceeded performance of commercially available
waterjet products. Processing consists of straightforward, environmentally
friendly techniques such as wet gravity methods, magnetic separation and
sieving. The Hutton project continues to attract world-wide interest,
especially as high quality garnet is in high demand in both North America &
Europe.
Derek White, formerly of GMA Garnet, Australia, notes a "successful
global garnet producer" must:
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a) have access to high quality garnet located in a high grade, low cost
resource,
b) be well located both in relation to international trade routes and in
proximity to the coast, and,
c) have a relatively simple processing system.
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White's criteria tend "to favour alluvial deposits over hard rock
occurrences..." supported by "a high class distribution network, and the sales
volume and the physical and financial capability to make bulk shipments..."
Freeport believes that the RFP process will greatly assist in moving the
Hutton project forward to the next level.
Work this year at the Hutton consisted of archeological, surveying and
marine studies in advance of next summer's program, the first stage of which
is planned to include a 5,000 tonne sample to test logistical approaches, as
well as baseline studies. Various mineral processing studies on the 2005 bulk
sample are currently underway.
A detailed review of Freeport's landholdings is included in the
Management Discussion & Analysis for the quarter ended July 31, 2006, filed at
sedar.com.
Respectfully submitted,
"Brenda Clark"
Brenda Clark, MAIBC
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
%SEDAR: 00006031E
