Jaguar Mining Inc. press release
Freeport Studies Molybdenum at the Q Claims
TSX - Toronto Stock Exchange · Gold · Arsenic · Antimony · Silver · Canada
TSX Venture Exchange: FRI Shares Issued: 11,963,232 Fully Diluted: 14,947,732
VANCOUVER, Dec. 15 /CNW/ - FREEPORT RESOURCES INC. is pleased to report positive results from recent work at its Q claims, the former Eaglet property in the Cariboo region of British Columbia. A metallurgical test study on molybdenum rich samples has now been completed by BC Mining Research Ltd. (BCMR) under the direction of Dr. Bern Klein. The purpose of the study was to determine whether it was possible to make a commercial-grade concentrate and commence design of a process flow sheet. In spite of early suggestions of similarity to porphyry mineralization systems, previous exploration at the property by Eaglet Mines was largely focussed on fluorspar and silver. Work carried out in its last years of exploration, 1986-1988, was not publicly reported and remains unavailable. Current findings suggest that the Q should be evaluated as a relatively untested high grade molybdenum deposit with possible porphyry association. Samples collected by Freeport personnel in late October show that molybdenum is easily visible due to its coarse grained nature. A 2 kilogram grab sample of high grade material collected from the muck piles excavated from Adit No. 2 in the 1980's was used as the basis of the metallurgical study. The initial head sample assayed 0.16% Mo (0.27% MoS(2) using a conversion factor of 1.6681). The sample was crushed, ground, and subjected to rougher flotation and 3 stages of cleaning flotation. A total of 0.9 grams of initial concentrate was produced, for total recovery of 0.5%. The concentrate contains 31.0% Mo (51.7% MoS(2)), with associated rhenium (22.1 g/tonne), bismuth (16.5 g/tonne) and silver (9.6 g/tonne). It is expected that further cleaning flotation will increase the grade of the product. As these results are very encouraging, BCMR has recommended a mineralogical study of the ore and product, with further work to improve the purity of the concentrate. Approximately 400 channel (rib) samples collected from the molybdenite zone intersected by Adit No. 2 will be analyzed for Mo values in January 2006. Dr. Bern Klein, Metallurgist, and ZD Hora, M.Sc. P.Geo., are the Qualified Persons who have reviewed this news release.
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.
Respectfully submitted on behalf of the Board of Directors,
"Brenda Clark"
Brenda Clark, MAIBC President
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