Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (the "Corporation") (CDNX:FWR.V - News), today announces the acquisition of the Dalhousie Mountain nickel-copper-vanadium property (the "Property") located within west-central Quebec. The Property was optioned from well known prospector Edwin Gaucher of EX-IN and consists of 67 mineral claims comprising 3,730 hectares, or 37.3 square kilometres. It is located 50 kilometres southeast of Mattagami,, Quebec and is well accessed by a network of forestry roads branching off of the Val d'Or - Chibougamau Provincial highway.
Recently completed work on the Property by Freewest and EX-IN included the completion of a high resolution airborne time-domain electromagnetic survey (TDEM) and a brief follow-up prospecting program. The TDEM survey delineated 2 broad groups of conductors, known as the eastern group and the western group. Preliminary beep mat surveying and sampling of one of the western conductors yielded assays of 0.87 percent nickel at one locale and 0.44 percent copper, 0.31 percent nickel at a second location within layered gabbroic host rocks. Such mineralization is intimately associated with a strong 200-metre long conductor delineated by the TDEM survey.
Also closely associated with the western group of conductors, is a sizeable area of vanadium mineralization. Concurrent work by EX-IN, also identified a large area of vanadium mineralization with a potential outcrop area of 1.2 kilometres by 0.2 kilometres, yielding assays of up to 1.27% V2O5 from blasted outcrop samples. This mineralization and associated conductor has never been tested by diamond drilling.
Historically, the Bell River Complex in the property locale has seen intermittent exploration for nickel, copper, platinum-group-elements and vanadium since the late 1950's. This work was completed by Prospector Airways, Billiton, Harrison Metals, Firefly Mining Corporation and Inco Exploration and Technical Services Ltd. Among the exploration efforts, were the completion of numerous airborne and ground geophysical surveys that detected the eastern group of conductors but notably, failed to detect the western group. Diamond drilling completed to test the eastern group of conductors, yielded significant intercepts including 0.60 percent copper and 0.40% nickel over 9.0 metres, 0.50 percent copper and 0.50 percent copper over 5.0 metres as well as 1.10 percent copper over 3.0 metres.Freewest plans a more detailed exploration program to examine the new nickel and vanadium occurrences as well as the other western conductors this field season. Such work will include prospecting, geological mapping, beep mat surveys, ground electromagnetic surveys in addition to diamond drilling. The exploration program is anticipated to begin in June.
The Corporation may earn a 100% interest in the Property from the vendor by issuing 500,000 shares of the Corporation and expending $150,000 on exploration over a 2-year period. Additionally, the vendor has the option to purchase 500,000 shares of the Corporation at a price of $0.20 over the same 2-year period. The agreement is subject to a 2.0% Net Smelter Return Royalty retained by the vendor, of which 1.0% can be purchased from same for the sum of $1,000,000. The agreement is subject to all regulatory approvals.
Source : www.freewest.com
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