Jaguar Mining Inc. press release
Freeport Announces Notakwanon results
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VANCOUVER, Sept. 23 /CNW/ - FREEPORT RESOURCES INC. is pleased to announce results from its Notakwanon claims in Labrador. This area has again been the focus of media attention with Inco's large claim block now extending about 25 km south of Notakwanon - adjacent to Inco's "Garland Lake" property. Inco has stated it will conduct an extensive drill program on their property during the Spring 2006. As reported May 2 and September 1, 2005, Inco mistakenly conducted an audio magnetotelluric (AMT) survey inside Freeport's claims in the fall of 2000. Freeport became aware of the geophysical survey last spring when Inco's assessment report was publicly released by the NL government. On Freeport's request, Inco has since provided data for 39 stations along two north-south profiles inside Notakwanon to the Ecole Polytechnique (EP) for recalibration and an independent interpretation. EP's work has clearly shown a "particular high phase zone in the middle of the survey area". A variety of modelling techniques were used to delineate a large "V-shaped" conductive body about 500m inside Freeport's property where the zone is best defined. The body is part of a ESE trending conductive zone with a lateral (NS) extension of about 1km, deepening to the east towards the claim boundary. According to EP's report, although the body is about 500m below surface, it appears some portions extend closer to surface, though conductivity decreases. Thickness of the body is in the order of 500m. Michel Chouteau of EP recommends a big loop electro-magnetic (EM) survey or drill testing to explain the anomaly, which may reflect a sulphide zone with sufficient connectivity to be conductive over large areas. The AMT anomaly 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. (Elsewhere on the property gabbroic intrusions have relatively flat- lying contacts). Several rock samples collected from this area in August 2005 have been sent for petrographic analysis. Surface samples from the vicinity exhibit elevated nickel values to 1749 ppm. When recalculated to one hundred % sulphide, sample ND-28-1997, collected near the AMT anomaly gives values of 2.1% Ni, 6.7% Cu and 0.32% Co. At the west of the property, an airborne EM/mag survey conducted for Freeport in 1995 identified a prominent circular magnetic anomaly interpreted as a possible vertical plug-like source. It is believed that the area west of the lake may be a separate phase of the intrusion given a greater percentage of oxide phases. In any case, a gossanous patch near a 2 m-wide by 20 m-long disseminated sulphide zone (pyrite, pyrrhotite, trace chalcopyrite) near the anomaly returned an assay of 1180 ppm Cu, 1361 ppm Ni and 526 ppm Co. Mr. Chouteau is the geophysicist who has reviewed this release. Please refer to previous releases dated May 5, 2001, May 2 & September 1, 2005, for geological details, or contact Brenda Clark at (604) 275-7335 (tel.) or 1-888-275-7335 (toll free), or via email: freeportresources(at)shaw.ca
Respectfully submitted,
"Brenda Clark"
Brenda Clark, MAIBC President
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