Freewest resumes work in NB

A second round of drilling is under way on the Clarence Stream gold property in southwestern New Brunswick.

Freewest Resources Canada (FWR-M) ended a first pass of drilling in April after completing 3,474 metres in 39 holes. The drilling targeted multiple zones of gold-bearing mineralization that had been intermittently exposed by trenching over a collective strike length of 2 km. The mineralization occurs in shear-hosted quartz veins in metasedimentary and gabbroic rocks. The quartz vein system is aligned roughly parallel to the contact with the St. George batholith.

In the Central zone, Freewest intercepted 27.5 metres grading 3.5 grams gold per tonne, including 14.5 metres of 5.3 grams, at 30 metres of depth in hole 37. Hole 39 undercut hole 37 and hit 21 metres averaging 15.06 grams gold at a vertical depth of about 60 metres below surface. The intercept included higher-grade sections of 18.67 grams over 1 metre, 25.95 grams over 5 metres, and 41.18 grams over 3.5 metres.

The second round of drilling will comprise some 15-20 holes totalling a minimum of 2,500 metres. The first priority will be to test the Central zone at depth and along strike.

Freewest has negotiated a $350,000 private placement financing with Bermuda-based LOM Capital, consisting 1 million units at 35 each. A unit will comprise one share and a warrant allowing for the purchase of an additional share at 45 for 18 months.

Meanwhile, Rubicon Minerals (RMX-V) has acquired two properties covering 64 claims along the southwestern and northeastern perimeters of the Clarence Stream property.

Rubicon says outcrop in the region is poor and that most of the area is covered by shallow glacial till. A 4-day examination of the property led to the identification of mineralized boulders carrying up to 15.1% zinc plus 6.9 grams of arsenic and 0.15 gram gold per tonne.

Rubicon is reviewing plans for a summer program and is seeking partners to advance exploration on the two properties.