Spider Resources Inc. , KWG Resources Inc. And Freewest Resources Canada Inc., Provide Analytical Results For The Big Daddy Chromite Prospect07 Dec 2009
- Hole FW-09-29 encounters 75.2 metres of chromite mineralization averaging 43.41% Cr2O3, followed by 1.8 metres averaging 2.18 g/t PGE (Pt+Pd)
- Hole 29 cut a total of 108.5m of massive chromite in 4 separate intervals.
- Six of the seven holes reported herein encounter chromite mineralization in excess of 35% Cr2O3 over significant widths.
TORONTO, ONTARIO – December 7, 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 provide analytical results for recent drilling at the Big Daddy Chromite property.
Analytical Results for Recent Drilling
Analytical results have recently been received for the first 7 holes of 22 holes being assayed. Visual observations for these seven holes were previously reported on October 14th 2009.
Holes FW-09-24 and 25 are located on Section 14+00E. Both encountered significant chromite mineralization.
Holes FW-09-26 and 27 are located on Section 16+00E. Hole 26 failed to intersect chromite mineralization. The targeted mineralization intended to be intersected by this hole is interpreted to have been displaced by faulting, whereas Hole 27, which undercut Hole 26, intersected two zones of massive chromite mineralization, followed by a short intercept of platinum and palladium averaging 1.66 g/t (Pt + Pd).
Holes 28 and 29, situated on Section 18+00E, both intersected significant widths of chromite mineralization, in particular hole 29 which intersected 4 zones of massive chromite mineralization, including a 75.2 metres interval averaging 43.4% Cr2O3. This intersection was followed by 1.8 metres of platinum and palladium averaging 2.18 g/t (Pt+Pd).
Hole FW-09-30, drilled on Section 20+00E, entered massive chromite mineralization immediately after the overburden.
The following table, provides assay highlights for the first seven holes in the recent program. Only those intersections that averaged greater than 35% Cr2O3 over significant widths are included in the highlight table. The chromite mineralization surrounding the highlighted massive chromite mineralization is typically of varying tenor, and consists of heavily disseminated plus / minus intercalated thin (centimeter scale) to thick (meter scale) beds of massive chromite mineralization. The amount of this mineralization that eventually may be included in the reserves will not be determined until a feasibility study is undertaken. For instance, in Hole 29, variable amounts of chromite mineralization were intersected between 67.4 and 323.8 metres (256.4 metres), however only 108.5 metres averaged in excess of 35% Cr2O3.
Assays for the remaining fifteen holes from the recent program will be released when final results are available.
Assay Highlight Table
|Pd (g/t)||Pt (g/t)||Cr2O3 %||Fe2O3 %||Cr:Fe|
|FW-09-26||no significant assays|
True widths of the chromite mineralization have yet to be determined, as this is typically done once the geometry (attitude, dip and strike) of the entire mineralized body is determined. The systematic drill pattern was designed to delineate the Big Daddy Chromite Prospect along its entire strike length. The chromite mineralized intersections are quite variable in apparent width due to the geological nature of the intrusion.
The current exploration program started on September 23, 2009, and included twenty two drill holes totaling 6,777 metres. The program was curtailed on November 22 due to abnormal weather conditions in the project area that were hampering cost-effective progress, and causing additional safety and other logistical concerns, drilling is anticipated to resume in early January. This pause in drilling is being utilized to review drill and analytical results, and also to adjust the drilling plan. More holes may be added, where warranted, in certain areas of The Big Daddy Chromite Prospect based upon this internal mid program review. Six holes remain to be drilled from the original planned budget, and these will be strategically planned to infill and expand Big Daddy. The Big Daddy Chromite prospect (a magmatic chromium deposit type) has been expanded along its strike and depth. Since the discovery of chromite on the property in March, 2006 (Hole FW-06-03), chromite mineralization has been established between section 900 metres East to and including section 2100 metres East, for an inferred strike length of 1300 metres, and to a depth of 325 metres. Big Daddy remains open along strike in both directions and to depth. Some of the planned expansion drilling will continue to explore the chromite mineralization towards the northeast, where faults are found to have apparently offset Big Daddy from the Probe “Creek Zone” and Freewest’s “Black Thor”.
As stated in the last release (Nov. 16, 2009), one drill hole tested a coincident magnetic and electromagnetic anomaly, that straddled the border between the Big Daddy property with four claims held by Freewest due north of the Big Daddy Property. This hole encountered 10 metres of sulphide mineralization consisting of thin whispy bands of up to 20% pyrite, pyrrhotite and chalcopyrite between 104.0 metres and 114.0 metres down hole. Samples for this entire sulphide section have been selected for assay and will be reported upon once results are received.
Quality Assurance / Quality Control Protocol
Stringent QA / QC procedures are followed. Samples are shipped to the laboratory in batches of 35 samples. Each sample batch includes 2 standards, 1 blank, and 1 duplicate that are inserted on site, plus a duplicate coarse reject and 1 duplicate pulp that are prepared at the laboratory and inserted. In addition, Actlabs also employs a rigorous in-house QA/QC regime which includes standards, blanks and duplicates.
Once the final assays are received from Actlabs and prior to any data being released to the public, a review of all QA/QC data is conducted by an independent qualified person to ensure that the data released are within predetermined norms.
All samples are assayed / analysed by Activation Labs (Actlabs) at either their main laboratory in Ancaster, Ontario or at their Thunder Bay, Ontario facility. Both laboratories are ISO accredited. All samples are
- Analyzed for 35 trace and major elements including Cu & Ni by 4 acid digestion with an ICP finish (Actlabs code 1F2). Any samples for which the result(s) are over limit for either Cu or Ni are then assayed for these elements by ICP-OES.
- Assayed for Au, Pd & Pt by fire assay with an ICP/OES finish (Actlabs code 1C-OES).
- Assayed for 13 major element oxides, including Cr2O3 by fusion-XRF (Actlabs code 4C).
For additional information on assay methodology visit the Actlabs website athttp://www.actlabsint.com.
Spider’s VP Exploration Jim Burns P.Eng., along with Neil Novak P.Geo., President of Spider, have prepared and reviewed this press release, both of which are Qualified Persons under Canadian Securities Guidelines.
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 Novak, P.Geo.||or||Rick Hamelin|
|President and CEO||VP Finance|
|Tel: (416) 203 8636||Investor Relations|
|Fax: (416) 815 1355||Tel: (772) 205 8803|
|Email: email@example.com Website: www.spiderresources.com|
Freewest is a well-financed mineral exploration company with more than C$9.0 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. Watson||or||Bay Street Connect|
|President and CEO||Michael D’Amico|
|Tel: (514) 878-3551 or 1-888-878-3551||Investor Relations|
|Fax: (514) 878-4427||Tel: (647) 500-6023|
|E-mail: firstname.lastname@example.org 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 chromium 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 Chromite Prospect 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|
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