Spider Resources Inc. , KWG Resources Inc. And Freewest Resources Canada Inc. Encounter Consistent Chromite Mineralization At Big Daddy; Rare Nickel Mineral Discovered Suggesting Nearby Source For Accumulation Of Nickel07 Jan 2010
- Hole FW-09-36 encountered 86.2 metres of chromite mineralization between 9.8 metres to 96.0 metres downhole. The initial 11.2 metres of chromite mineralization averages 40.14% Cr2O3; the last 48.35 metres averages 41.35% Cr2O3.
- Hole 33, after passing through 11.0 metres that averages 40.29% Cr2O3, entered a narrow nickel sulphide filled fault zone that averages 2.74% nickel, 0.12% cobalt and 1.04 g/t Pt+Pd over 1.0 metres. A sample selected for petrographic analysis was determined to contain a low temperature alteration assemblage of minerals including godlevskite along with veinlets of mackinawite which infer a possible nearby primary nickel source.
- Eight of nine holes reported herein encountered chromite mineralization in excess of 35% Cr2O3 over significant widths.
TORONTO, ONTARIO – January 7, 2010 – 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 further analytical results for drilling completed in latter part of 2009 at the Big Daddy Chromite property.
Neil Novak, President of Spider Resources Inc. states: “We are extremely pleased with the consistency of the drill results we are receiving from the Big Daddy Chromite Project, that are all typically in excess of 40% Cr2O3 over very good widths. The discovery of the nickel mineral godlevskite is intriguing, particularly as its’ source is considered proximal to Big Daddy, perhaps within only a few hundred metres.”
Analytical Results for Recent Drilling
Analytical results have recently been received for an additional 9 holes of the 22 holes completed during the 2009 drilling campaign. Results for seven holes were released on December 7th, 2009, and results for six more drill-holes from the 2009 program are pending.
Hole FW-09-31, located on Section 20+00E, undercut hole FW-09-30. Hole 31 encountered chromite mineralization between 193.5 metres and 264.5 metres (71 metres), highlighted by a 28.6 metre intercept between 235.9 and 264.5 metres that averages 40.26% Cr2O3.
Hole FW-09-32 is located on Section 21+00E, the most northeasterly section drilled on the Big Daddy Chromite property to date. Two zones of chromite mineralization were observed in this hole, the first between 93 and 97 metres downhole (over 4 metres) contains intermittent to massive beds of chromite averaging <25% Cr2O3. In the second interval, between 180.6 and 206.6 (over 25.7 metres) more consistently mineralized chromite was encountered of which 8.15 metres averaged 38.5% Cr2O3.
Holes FW-09-33 and FW-09-36, situated on Section 15+00E, both intersected chromite mineralization. Hole 33 intersected 34.1 metres of which 11.0 metres (between 210.0 and 221.0 metres) average 40.29% Cr2O3. Hole 36 overcut hole 33 and encountered a much wider zone (86.2 metres) between 9.8 metres downhole to 96.0 metres downhole. The initial 11.2 metres of chromite mineralization averages 40.14% Cr2O3; the last 48.35 metres averages 41.35% Cr2O3. Of special note, after passing through the chromite mineralization, hole 33 entered a narrow fault zone that was observed to be partially filled with an unidentified but high grade nickel sulphide mineral (based upon in-house hand held XRF Niton Analyzer measurements). Upon receipt of laboratory analysis, the sulphide zone over 1.0 metre averages 2.74% nickel, 0.12% cobalt and 1.04 g/t Pt+Pd. A sample of the sulphide mineral selected for petrographic analysis was determined to contain an alteration assemblage of minerals including godlevskite (Ni9S8) along with veining of mackinawite ((Fe,Ni)9S8). Dr. James Franklin (director of Spider Resources Inc.) states: “This is a very low-temperature assemblage, and probably represents hydrothermal transport up a shear system from a more substantial Ni accumulation”, Dr. Franklin continues “this explains the very high Ni contents, as it contains nearly 60% Ni.”
Hole FW-09-34, drilled on Section 14+00E, undercut holes FW-09-24 and 25 (reported December 7, 2009), and encountered 4 main zones of chromite mineralization between 319.5 and 415.22, the best intersection being the latter 32.72 metres section between 383.5 and 415.22 metres that averages 41.25% Cr2O3.
Hole FW-09-35, drilled on Section 16+00E, undercut holes FW-09-26 and 27 (reported December 7, 2009), contains chromite mineralization between 349.16 and 399.0 for a total chromite intercept of 49.84 metres. The best intersection is the latter 34.5 metres section between 364.5 and 399.0 metres that averages 41.15% Cr2O3.
Holes FW-09-39 and FW-09-40, situated on Section 17+00E, both intersected significant widths of chromite mineralization. Hole 39 intersected 18.9 metres between 119.1 and 138.0 metres that average 34.45% Cr2O3. Hole 40 intersected 22.7 metres of chromite mineralization of which 14.8 metres (between 87.4 and 102.2 metres) average 43.11% Cr2O3.
Hole FW-09-42, drilled on Section 19+00E, overcut hole FW-09-43 on the same section (not yet reported), and intersected chromite mineralization between 25.5 metres and 35.9 for a total chromite intercept of 10.4 metres. The best intersection is the latter 3.2 metres between 32.7 and 35.9 metres that averages 39.45% Cr2O3.
The following table, provides assay highlights for the nine holes reported upon herein. Only those intersections that averaged greater than 35% Cr2O3 (or close thereto) over significant widths are included in the highlight table. The chromite zone surrounding the reported massive chromite mineralization is typically of varying tenor, and consists of heavily disseminated, 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 a complete listing of results to date, please follow the link provided here: 2010 Big Daddy Cr Drill Summary
Assay Highlight Table
|Hole #||From||To||Length||Cr2O3 %||Fe2O3 %||Cr:Fe||Pd (g/t)||Pt (g/t)|
|as well as||220.50||225.00||4.50||36.46||19.36||1.84||0.25||0.39|
|as well as||235.90||264.50||28.60||40.26||19.80||1.99||0.18||0.21|
|as well as||188.00||196.15||8.15||38.50||21.45||1.76||0.27||0.28|
|as well as||200.60||206.60||6.00||37.55||21.79||1.69||0.21||0.19|
|as well as||210.00||221.00||11.00||40.29||25.63||1.54||0.12||0.19|
|as well as||364.50||399.00||34.50||41.15||21.25||1.89||0.32||0.27|
|as well as||47.65||96.00||48.35||41.35||22.03||1.84||0.16||0.23|
|as well as||87.40||102.20||14.80||43.11||20.95||2.01||0.15||0.22|
|as well as||32.70||35.90||3.20||39.45||20.69||1.87||0.05||0.21|
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.
Assays for the remaining six holes from the 2009 program will be released when available. A drill plan, showing positions of all historical drill holes for the Big Daddy project is available by following the link provided here: Drill Plan Jan 2010
2010 Drill Program
Field crews have been mobilized to the field to commence the 2010 winter drill program. Technical planning meetings were held during December to review and plan the 2010 program with the intent of having sufficient exploratory drilling completed by the end of program, bearing in mind the shape and attitude of the Big Daddy Chromite prospect (a magmatic chromium deposit type), to support an initial resource estimate. It is envisioned that approximately 4,000 metres of drilling will provide sufficient drill information to complete the resource estimate. 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/Noront “Creek Zone” and to the northwest to Freewest’s “Black Thor”.
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 453,388,430 shares issued in Spider.
For further information concerning Spider Resources Inc., please contact:
|Neil Novak, P.Geo.
President and CEO
Tel: (416) 203 8636
Fax: (416) 815 1355
Tel: (772) 205 8803
Freewest is a mineral exploration company 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 Tier 1 of the TSX Venture Exchange under the symbol FWR.
For further information please contact:
Mackenzie I. Watson
President and CEO
Tel: (514) 878-3551 or 1-888-878-3551
Fax: (514) 878-4427
Georgeson is acting as Freewest’s solicitation agent in connection with the proposed Plan of Arrangement with Cliffs Natural Resources Inc. Georgeson may be contacted as follows:
100 University Avenue
11th Floor, South Tower
North American Toll Free Number: 1-866- 433-7579
Banks and Brokers Collect Number: 1-212-806-6859
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:
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