Freewest options claims north of Kirkland Lake

Montreal-based Freewest Resources (TSE) has signed an option to acquire three claims, comprising 1,040 acres, north of Kirkland Lake, Ont.

Over a 5-year period, Freewest will pay $150,000 cash and issue 20,000 common shares, as well as spend $100,000 by March 25, 1995.

The claims straddle a 2-mile strike length of the Destor Porcupine Fault zone and are adjacent to Holloway Twp., where the company and joint-venture partners recently announced a production decision at the Holloway gold mine. In May, Freewest will commence line-cutting, prospecting and geophysical and geological surveys on the newly optioned claims. Drilling will follow. In other news, Freewest has drilled 51 reverse circulation holes on its 350-claim, 14,000-acre gold property in Benoit Twp., Que.

Preliminary evaluation of till samples and bedrock chips indicate there are untested areas distinct from, but perhaps structurally associated with, the gold deposit. Previous drilling outlined 482,000 tons averaging 0.18 oz. gold per ton.