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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Spider Resources Com | TSXV:SPQ | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
Hot Features
Premium
Freewest Resources Canada Inc. (TSX VENTURE:FWR) ("Freewest"), Spider Resources
Inc. (TSX VENTURE:SPQ) ("Spider") & KWG Resources Inc. (TSX VENTURE:KWG) ("KWG")
are pleased to provide an exploration update on the Big Daddy Chromite property.
Eight drill holes, 2,073 metres, have been completed, and have tested the Big
Daddy Chromite prospect (a magmatic chromium deposit type) along its
geophysically inferred strike length to Line 20 East, and to a vertical depth of
approximately 180 metres. The total amount of drilling in this campaign is
estimated to be 11,000 metres in 28 drill holes. The drill program is deigned to
test the entire geophysically inferred strike length on the property to a depth
of +/- 250 metres.
Freewest currently holds a 50% interest in the Big Daddy chromite property,
while joint-venture partners Spider and KWG retain equal 25% interests each,
respectively.
Drill Program:
Drilling has progressed significantly since the last report of October 1, 2009,
where holes FW-09-24 and 25 were reported on section 1400 metres east. Drill
spacing for this first pass of drilling was established at 200 metres, testing
the entire geophysically inferred strike length to section 2000 metres east.
Drilling has successfully encountered chromite mineralization in each section.
Since the start of the project in 2006 chromite mineralization has been
established from Line 900 metres East to and including Line 2000 metres East,
for a strike length of 1100 metres thus far. Additional drilling is underway to
the Northeast in an area where the geophysical expression of the chromite
mineralization appears to be disrupted by faulting.
Hole FW-09-26 entered a fault zone in pyroxenite between 9 and 45 metres depth
and then continued in an altered pyroxenite to the end of the hole at 207
metres. No significant chromite mineralization was encountered.
Hole FW-09-27 was designed to step back and undercut Hole FW-09-26. This hole
encountered massive chromite between 173.3 and 186.8 metres (13.5 metres massive
chromite), followed by a second zone of massive chromite mineralization between
208 and 247 metres (39 metres of massive chromite).
Hole FW-09-28 was designed as a 200 metre northeasterly step out from holes
FW-09-26 and 27. The hole encountered massive chromite between 39 and 60.5
metres (21.5 metres massive chromite).
Hole FW-09-29 was designed to undercut Hole FW-09-28. Chromite mineralization
was encountered between 117.4 and 136 metres (18.6 metres of massive chromite),
followed by another zone of massive chromite with narrow beds of semi-massive
chromite that was encountered between 234.8 and 244.3 metres (massive chromite
over 9.5 metres), followed by a very thick bed of massive chromite between 248.6
and 323.5 meters (74.9 metres of massive chromite).
Hole FW-09-30 was designed to test a 200 metre northeasterly step out from Holes
FW-09-28 and 29. At the bedrock - overburden interface of 23.7 metres, the hole
immediately entered massive chromite and stayed in this until 33.8 metres (10.1
metres of massive chromite subcropping).
Hole FW-09-31 was designed to be a 200 metre step out from Holes FW-09-28 and 29
and to undercut Hole FW-09-30. Between 235.9 and 264.5 metres, massive chromite
was encountered (28.6 metres of massive chromite).
True widths of the chromite mineralization have yet to be determined, as this is
typically done once the geometry (attitude, dip, strike) of the mineralized body
is determined. The systematic drill pattern as planned is designed to better
understand the Big Daddy Chromite Prospect along its entire strike length at
regular intervals; the chromite mineralized intersections are quite variable due
to the geological nature of the intrusion. Once the current program is
completed, an estimate of true width will be provided. At current rate of
drilling, it is anticipated that the field portion of the program will be
completed by early December.
Summary of Drill Results:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Mineralization
DDH ID Completed Line Sta # Azimuth Dip Length Highlights
----------------------------------------------------------------------------
FW-09-24 Sep 26 / 09 14 E 1700 N 150 50 219 64.43 - 86.0
Intermittent Cr beds
86.0 - 101.85 diss
Cr in peridotite
101.85 - 132.2
Massive Cr
----------------------------------------------------------------------------
FW-09-25 Sep 30 / 09 14 E 1800 N 150 50 339 151.9 - 200.75 diss
Cr + occ Cr bed
in Per
200.75 - 213 fault
213.0 - 232.39 diss
Cr + occ Cr beds
in Per
232.39 - 270.35
Massive Cr
----------------------------------------------------------------------------
FW-09-26 Oct 2 / 09 16 E 1700 N 150 50 207 Cr zone displaced
by fault
166.55 - 178.5 fault
in Pyx with trace
py, po, cpy
----------------------------------------------------------------------------
FW-09-27 Oct 6 / 09 16 E 1800 N 150 50 321 171.0 - 173.3 diss
Cr in Dunite
173.3 - 186.8 Massive
Cr
186.8 - 189.0 diss
Cr in Dunite
189.0 - 208.0 diss +
intermittent Cr in
Dunite
208.0 - 247.0
Massive Cr
----------------------------------------------------------------------------
FW-09-28 Oct 5 / 09 18 E 1745 N 150 50 207 39.0 - 60.5
Massive Cr
120.0 - 137.3 fault
with py, cpy
----------------------------------------------------------------------------
FW-09-29 Oct 10 / 09 18 E 1850 N 150 50 368 70.1 - 117.35
intermittent Cr
beds in Dunite
117.35 - 136.0
Massive Cr
136.0 - 148.0 diss Cr
in Dunite
226.0 - 230.7 Semi
Massive - Massive Cr
231.45 - 233.0 Semi
Massive Cr
234.75 - 244.3
Massive Cr
248.6 - 323.5
Massive Cr
----------------------------------------------------------------------------
FW-09-30 Oct 11/09 20 E 1750 N 150 50 77 23.7 - 33.8
Massive Cr
----------------------------------------------------------------------------
FW-09-31 Oct 11/09 20 E 1850 N 150 50 335 205.4 - 235.9
intermittent Cr
beds + diss in Dunite
235.9 - 264.5 Massive
Cr (dyked off??)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Abbreviations: Cr (chromite), py (pyrite), cpy (chalcopyrite), po
(pyrrhotite), diss (disseminated), Per (peridotite), Pyx (pyroxenite).
Metallurgical Update:
The companies are pleased to report that it has received the results of scoping
level mineral beneficiation test work conducted by SGS Lakefield Research
Limited and a geometallurgical study conducted by Cliffs Natural Resources on
the Big Daddy Chromite Prospect. These early stage studies will guide both
ongoing sampling requirements during drilling and subsequent resource modeling
and beneficiation studies.
The result of conducting gravity separation test on eight samples covering the
range from low grade to high grade led to the following conclusions;
- Some of the massive chromite has a grade greater than 40% Cr2O3 which can be
considered direct shipping ore with 1.9 Cr:Fe ratio
- medium grade ore, 20-40% Cr2O3, can be upgraded to saleable material
- The average of 110 SEM-EDS analyses of chromite grains by Cliffs are; 7.4%
MgO, 12.64% Al2O3, 0.54% TiO2, 51.29% Cr2O3, and 27.46% FeO.
- grind size needs to be optimized in future testing to improve recoveries at
low and medium grades
A sulphide flotation test of the chromitite produced a concentrate containing 14
g/t palladium, 3 g/t platinum, and 1 g/t gold. An evaluation of the distribution
of all 6 PGE's is underway. The minerals sperrylite (PtAs2) and
stibiopalladinite (Pd3Sb) and an unknown compound of Os-Ru-As-S were identified
by Cliffs in a hanging wall pyroxenite sample containing 2.24 g/t palladium and
2.36 g/t platinum over 0.5 metres.
Technical Advisory Committee:
Spider's VP Exploration Jim Burns P.Eng., along with KWG's VP Exploration Moe
Lavigne M.Sc., P.Geo. are Qualified Person's responsible for their respective
company's disclosure and have read and approve of this press release, along with
Don Hoy M.Sc., P.Geo. representing Freewest. These three individuals are members
of the Technical Committee for the project, along with Neil Novak P.Geo.,
President of Spider, Mac Watson P.Eng., President of Freewest and Richard Fink,
Director of KWG.
About Freewest Resources Canada Inc.:
Freewest is a well-financed mineral exploration company with more than C$4.5
million in working capital as well as a C$10.8 million investment in Quest
Uranium Corp. at current prices and no debt. It is actively exploring for gold,
base-metals and chromite within eastern Canada. Corporate information can be
accessed on the Internet at www.freewest.com. Freewest's shares are listed on
the TSX Venture Exchange under the symbol FWR.
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