...picked this up from Luker on the FWR hub, thanks Luke..... kelsee
http://www.kitco.com/pr/2074/article_10012009162201.pdf
SPIDER RESOURCES INC. , KWG RESOURCES INC. AND FREEWEST RESOURCES
CANADA INC., COMMENCE DRILLING ON
THE BIG DADDY CHROMITE PROSPECT
-Drill crew arrived September 22, first hole completed, second hole completed
-First hole intersects 30.3 metres of chromite mineralization; second hole intersects 38.0
metres of chromite mineralization.
-Second drill crew arrived September 26, drilling to commence with second rig this week..
TORONTO, ONTARIO – October 1, 2009 – Spider Resources Inc. (SPQ:TSX-V) (“Spider”),
KWG Resources Inc. (KWG:TSX-V) (“KWG”) and Freewest Resources Canada Inc.
(FWR:TSX-V) (“Freewest”) are pleased to announce the start-up of an 11,000 metre drill
program on the Big Daddy Chromite property, which comprises of four 16 unit claims, one 12
unit claim plus two additional one unit claims (1,248 hectare property),pursuant to the first year
commitment on an Amended Option Agreement with Freewest dated September 10, 2009.
As stated on September 14, 2009, KWG and Spider have committed to undertake an exploration
program on the Big Daddy Chromite Property under which an aggregate of at least $5 million
must be spent by March 31, 2010, in order for Spider and KWG to earn an additional 1.5% each
(3.0% in aggregate), bringing each Optionees respective interest level to 26.5%. The field aspect
of this program has commenced, with crews arriving on September 20, 2009. Field operations are
currently based out of the Billiken Management Services Ltd.’s Base camp, located at McFaulds
Lake. Cabo Drilling(Ontario) Corp. was recently awarded the diamond drilling contract portion
of the program. It is anticipated that approximately 11,000 metres of diamond drilling will be
completed during the current phase of exploration, the results of which will be incorporated into
an initial resource estimate for Big Daddy. In addition, Aecom Canada has recently been awarded
the contract for Base Line Environmental work and Traditional Knowledge studies both of which
will involve the project’s First Nation neighbors, and will be undertaken to provide the necessary
information for future development plans.
Drilling Program
Drilling commenced September 23, 2009 on hole FW-09-24 located on Line 1400E @ 1700N;
drilling at 135o azimuth, with an initial dip of -50o. Intermittent chromite beds in a serpentinized
dunite were intersected between 64.6 and 86.0 metres downhole. Chromitite was intersected
between 101.9 and 132.2 metres downhole (30.3 metres of massive chromite). The hole was
stopped at 136.4 metres in pyroxenite on September 26th. Assay results are pending. This hole
compares favorably with holes FW-08-22 and FW-08-23, both of which are located 100 metres to
the southwest on Section 1300E. As previously announced on January 14, 2009, Hole FW-08-22
encountered 42.08% Cr2O3 over 34.8 metres, and FW-08-23 encountered 34.96% Cr2O3 over
42.0 metres. These two holes also encountered intriguing platinum and palladium mineralization
grading as high as 1.08 g/t Pt and 1.5 g/t Pd over 4 metres (in hole FW-08-23). True width of the
chromitite and the platinum and palladium zone is not yet determined.
A second hole FW-09-25 was started on September 26, 2009 on Line 1400E @ 1800N with an
initial azimuth of 135o azimuth, with an initial dip of -50o, designed to undercut hole FW-09-24.
Intermittent chromite beds were intersected between 153.4 and 233.9 in a serpentized dunite. This
was followed by chromitite from 233.9 onwards to 271.9metres downhole (38.0 metres of
massive chromite). The hole was stopped at 341.0 metres in pyroxenite on September 30, 2009.
Assays are pending on this hole.The first drill is moving onto its’ third hole setup.
The second drill crew arrived on September 26, 2009 and are in the process of moving the second
rig onto its’ first site. It is anticipated that this rig will commencing drilling on October 1, 2009 .
There are ~28 holes planned for the current drill program, testing the Big Daddy Chromite
Occurrence along its entire geophysically inferred strike length (estimated to be in excess of 1
kilometer) to a depth of 250 metres.
About Spider Resources Inc.
Spider Resources Inc. is the Pioneer exploration company in the James Bay Lowlands of
Northern Ontario, exploring this area since 1993. The exploration team at Spider is
responsible for the discovery of 8 kimberlites to the east of the Ring of Fire as well as 2
VMS deposits (McFaulds 1 and McFaulds 3), 8 additional VMS occurrences, and the Big
Daddy Chromite Prospect within the Ring of Fire. Spider Resources Inc. is a Tier 2
Canadian exploration company, quoted for trading on the TSX Venture Exchange under the
symbol SPQ.There are currently 389,545,100 shares issued in Spider.
For further information concerning Spider Resources Inc., please contact:
Neil D. Novak, P.Geo.
President and CEO
Direct: 416-203-8636
Email: info@spiderresources.com Website: www.spiderresources.com
About Freewest
Freewest is a well-financed mineral exploration company with more than C$5.0 million in
working capital as well as a $CDN 15 million investment in Quest Uranium Corp. at current
prices with 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.
For further information concerning Freewest Resources Canada Inc., please contact:
Mackenzie I. WatsonorBay Street Connect
President and CEOMichael D'Amico
Tel: (514) 878-3551 or 1-888-878-3551Investor Relations
Fax: (514) 878-4427Tel: (647) 500-6023
E-mail: info@freewest.com Website: www.freewest.com
About KWG Resources Inc.
KWG Resources is a mineral exploration company with extensive claim holdings in the James
Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chrome
have been made recently in the Ring of Fire.KWG has an equal joint venture interest in a large
claim block in the central part of the discovery area, with Spider Resources Inc.The joint venture
is developing the Big Daddy ChromiteProspect adjacent to the Black Thor and Black Label
chromite discoveries of Freewest Resources Canada Inc. KWG holds a 1% net smelter royalty in
all three prospects and has created Canada Chrome Corporation to pursue the development of
them.
For further information concerning KWG Resources Inc., please contact:
BRUCE HODGMAN MICHEL CÔTÉ
Communications Director Director
Direct: 416-646-1374 514-866-6001
info@kwgresources.com
Website: www.kwgresources.com
Forward-Looking Statements
This news release may contain “forward-looking information” which may include, but is not limited to,
statements with respect to the future financial or operating performance of the companies and their
projects.Often, but not always, forward-looking statements can be identified by the use of words such as
“plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or
state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur
or be achieved.Forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the companies to be materially
different from any future results, performance or achievements expressed or implied by the forward-
looking statements.Forward-looking statements contained herein are made as of the date of this press
release and the companies disclaim any obligation to update any forward-looking statements, whether as a
result of new information, future events or results or otherwise.There can be no assurance that forward-
looking statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements.The companies undertake no obligation to update forward-
looking statements if circumstances, management’s estimates or opinions should change, except as
required by securities legislation.Accordingly, the reader is cautioned not to place undue reliance on
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
