TSX Venture Exchange: FRI
Shares Issued: 11,963,232
Fully Diluted: 14,947,732
VANCOUVER, Dec. 15 /CNW/ - FREEPORT RESOURCES INC. is pleased to report
positive results from recent work at its Q claims, the former Eaglet property
in the Cariboo region of British Columbia. A metallurgical test study on
molybdenum rich samples has now been completed by BC Mining Research Ltd.
(BCMR) under the direction of Dr. Bern Klein. The purpose of the study was to
determine whether it was possible to make a commercial-grade concentrate and
commence design of a process flow sheet.
In spite of early suggestions of similarity to porphyry mineralization
systems, previous exploration at the property by Eaglet Mines was largely
focussed on fluorspar and silver. Work carried out in its last years of
exploration, 1986-1988, was not publicly reported and remains unavailable.
Current findings suggest that the Q should be evaluated as a relatively
untested high grade molybdenum deposit with possible porphyry association.
Samples collected by Freeport personnel in late October show that
molybdenum is easily visible due to its coarse grained nature. A 2 kilogram
grab sample of high grade material collected from the muck piles excavated
from Adit No. 2 in the 1980's was used as the basis of the metallurgical
study. The initial head sample assayed 0.16% Mo (0.27% MoS(2) using a
conversion factor of 1.6681).
The sample was crushed, ground, and subjected to rougher flotation and 3
stages of cleaning flotation. A total of 0.9 grams of initial concentrate was
produced, for total recovery of 0.5%. The concentrate contains 31.0% Mo (51.7%
MoS(2)), with associated rhenium (22.1 g/tonne), bismuth (16.5 g/tonne) and
silver (9.6 g/tonne). It is expected that further cleaning flotation will
increase the grade of the product. As these results are very encouraging, BCMR
has recommended a mineralogical study of the ore and product, with further
work to improve the purity of the concentrate. Approximately 400 channel (rib)
samples collected from the molybdenite zone intersected by Adit No. 2 will be
analyzed for Mo values in January 2006. Dr. Bern Klein, Metallurgist, and ZD
Hora, M.Sc. P.Geo., are the Qualified Persons who have reviewed this news
release.
Freeport Resources, founded in 1981, is a junior mineral exploration
company listed on the TSX Venture Exchange. Freeport has landholdings in
Labrador and B.C., with a special focus on industrial minerals, precious
metals, and gemstones.
Respectfully submitted
on behalf of the Board of Directors,
"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.
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