B2Gold Corp. press release
Freeport participates in Inco's Airborne Gravity Survey
TSX - Toronto Stock Exchange · Gold · Canada
TSX Venture Exchange: FRI Shares Issued: 11,885,232 Fully Diluted: 14,947,732
VANCOUVER, Jan. 19 /CNW/ - FREEPORT RESOURCES INC. is pleased to announce an airborne gravity gradiometry survey by Inco Limited has commenced over its Notakwanon River property (23 claims, 575 ha) in Labrador. Staked in 1995, Notakwanon is located in the heart of Inco's Garland Lake property and 30 km southeast of the Voisey's Bay deposits. It represents the key component of a much larger block of 995 claims which was later reduced to retain the most promising areas. The survey is intended to delineate the extents of known troctolitic bodies, the same rock type which hosts the Voisey's Bay deposits, and also has the potential to directly detect large shallowly buried accumulations of massive sulphides akin to magmatic Ni-Cu-Co deposits at Voisey's Bay. Survey components will include gravity gradiometer, a gravimeter, a magnetic gradiometer and digital terrain mapping (LIDAR). Freeport will pay a pro-rated portion of Inco's larger program and will share data with Inco on Notakwanon and on Inco's contiguous ground. The survey will continue in the spring when weather conditions improve in Labrador. As previously released (May 2, 2005, and September 1 & 23, 2005), an audio-magnetotelluric (AMT) geophysical survey by Inco over the eastern 600m of Notakwanon showed the primary geophysical anomaly extending well onto Freeport's claims. The AMT anomaly also coincides with an area where Freeport's 1996-1997 geological work identified a gabbroic intrusion appearing to have steep contacts with host gneisses, possibly representing a portion of a feeder system. Reports filed by Inco with the Government of NL indicate the area surrounding the AMT anomalies is locally underlain by troctolitic rocks considered favourable for hosting Voisey's Bay style Ni sulphide mineralization. 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. Freeport plans a display at the upcoming Newfoundland and Labrador rock room at the Cordilleran Roundup in Vancouver on Jan 24 to 26.
Respectfully submitted on behalf of the Board of Directors,
"Brenda Clark"
Brenda Clark, MAIBC President
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