PROPERTY HIGHLIGHTSFreewest’s McFaulds property is located 3.8 kilometres east-northeast of Noront’s new Double Eagle nickel-copper discovery within the Sachigo greenstone belt of northwestern Ontario. Partial drill results from the new discovery at Double Eagle yielded 1.84 percent nickel and 1.53% copper over 36 metres (NOT-07-01) It is also located 6 kilometres west-southwest of the McFaulds #1, #2 and #3 volcanic-hosted massive sulphide deposits, held by Spider Resources Inc. and KWG Resources Inc. Drilling by the joint-venture in 2003 yielded 8.02% copper over 18.8 metres in a hole testing the McFaulds #2 deposit
PROPERTY DESCRIPTION AND LOCATIONThe McFaulds property consists of 9 mineral claims (144 claim units) comprising 22.7 square kilometres and is located 300 kilometres north of the town of Nakina, in the James Bay Lowlands of northern Ontario. Four (4) of the 9 mineral claims are owned outright by Freewest Resources Canada Inc. The remaining 5 claims comprising 12.7 square kilometres are under currently under option to Spider Resources Inc. and KWG Resources Inc. (Spider-KWG JV). The Spider-KWG JV may earn a 50% interest in the claims by spending $3,000,000 on exploration over a four-year period. They may earn a 60% interest in the claims by delivering a bankable feasibility on any mineralization identified and a cumulative 60% by arranging project financing on behalf of Freewest to put such mineralization into commercial production. PROPERTY OVERVIEWThe southern limb of the Sachigo greenstone belt has been the focus of considerable recent exploration interest and activity, owing to the discovery of 2 new base-metal discoveries. In 2003 and 2004, the Spider-KWG JV discovered 3 volcanic-hosted massive sulphide (VHMS) deposits known as McFaulds #1, #2 and #3. Drill intersections of up to 8.02 percent copper over a core length of 18.8 metres obtained from the McFaulds #2 deposit; attest to the considerable potential of the Sachigo greenstone belt to host significant VHMS deposits. In September of 2007, Noront Resources Ltd. announced the discovery of impressive nickel-copper mineralization on their Double Eagle project. Partial assays received from the discovery hole (NOT-07-01) yielded 1.84 percent nickel and 1.53% copper over a core length of 36 metres. An additional step-out drill hole (NOT-07-05) intersected massive chalcopyrite, pyrrhotite and pentlandite over a 65.2 metre core length. The nickel-copper zone is associated with a coincident magnetic high and electromagnetic anomaly (EM) and is open-ended along strike and to depth. Collectively, the nickel-copper and VHMS mineralization discovered by Noront Resources Ltd. and the Spider-KWG JV respectively, in this portion of the Sachigo greenstone belt, are suggestive of a potential new Canadian mining camp in the making. Freewest’s McFauld’s property is well located, 4 kilometres north-northeast of Noront’s Double Eagle nickel-copper discovery and 6 kilometres south-southwest of the Spider-KWG massive sulphide deposits. An airborne geophysical survey flown by Freewest over its McFaulds property in 2003 delineated a series of northeast-trending magnetic highs, with numerous associated electromagnetic anomalies. These geophysical signatures are similar with anomalies associated with the Double Eagle nickel-copper discovery and are of immediate exploration interest. Notably, the Spider-KWG JV intersected high-grade chrome and associated nickel-platinum-group-element while drilling the optioned property in 2006. The drilling yielded up to 23.70% chrome and 0.13% nickel in at least 2 horizons, demonstrating the presence of magmatic chrome-nickel mineralization within peridotite host rocks. Freewest is currently in the process of compiling all of the previously completed exploration work on the property, in order to identify and prioritize exploration targets for further exploration. MAPS |