Massive Black Horse Chromite Discovery
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
Message: News
KWG, Spider and Freewest Start Winter Exploration Program McFauld's Lake Area, Northern Ontario09:23 EST Monday, Feb 04, 2008TORONTO, CANADA--(Marketwire - Feb. 4, 2008) - KWG Resources Inc. (TSX VENTURE:KWG) and Spider Resources Inc. (TSX VENTURE:SPQ) and Freewest Resources Canada Inc. (TSX VENTURE:FWR) are pleased to announce the start up of their 2008 winter exploration program on the Freewest option property (the "Property"), located approximately 15 kilometres southwest of the McFaulds Lake volcanogenic massive sulphide ("VMS") occurrences of KWG and Spider and approximately 3.6 kilometres northeast of Noront Resources Ltd.'s Eagle One Magmatic Massive Sulphide ("MMS") discovery in the James Bay Lowlands region of Northern Ontario.The joint venture partners (KWG and Spider) last completed field work on this property in 2006, that included a diamond drill program resulting in the discovery of a layered chromitite-bearing, nickel-enriched peridotite (See press release dated March 7, 2006). Assay results received later (see press release dated June 29, 2006) confirmed that the layering within this peridotite was enriched in chrome and nickel, as well as Platinum Group Elements ("PGE's"). The 2006 winter exploration program was highlighted by the discovery of two massive chromitite layers hosted within peridotite, encountered while drilling ground geophysical anomalies targeting volcanic-hosted massive sulphide deposits (drill hole FW-06-03). The drilling returned the following assays: ------------------------------------... Upper Chromitite Layer Lower Chromitite Layer------------------------------------... 22.70% chrome, 0.17 g/t 23.70% chrome, 0.21 g/t platinum, 0.24 g/t palladium platinum, 0.46 g/t palladium over 1.05 metres(1) over 0.60 metres(1)------------------------------------... (1) Assays performed by ALS Chemex of Vancouver, B.C. utilizing multi-acid ICP techniques for low and higher grades on samples selected, bagged and tagged and sent by bonded courier to the lab, under the supervision of Howard Lahti Ph.D. P.Geo. of Fredericton New Brunswick. Subsequent re-analyses of selected samples and some additional assaying of the drill core from the 2 chromitite layers and intervening wall rock in the peridotite was later completed by Actlabs. The analyses yielded the following results:
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