TSX Venture Exchange: FRI
Shares Issued: 16,831,232
VANCOUVER,
Oct. 24, 2012 /CNW/ - Freeport
Resources Inc. (FRI: TSX-V) is pleased to announce the Q
fluorspar project was presented by invitation at the international
fluorspar conference this week in Vancouver. This event, hosted by
Industrial Minerals Events of the UK, brings together key
participants with serious fluorspar (CaF2) interests
from all over the world. Freeport's 100%-owned Q is the most
significant fluorspar deposit known in western Canada. Extensive exploration in the
1980's by Eaglet Mines defined several large mineralized zones,
with non 43-101 compliant estimates of 24 million tonnes of 11.5%
CaF2. New analytical results released by
Freeport this past May are very
encouraging, as long intercepts suggest the possibility of bulk
open pit mining as well as higher grades near the end of the Adit 2
(see news release dated May 1,
2012).
The site was previously abandoned when fluorspar
prices dropped below US $100/tonne.
The price of fluorspar at present is significantly higher -
recently up to $550-600/tonne due to
reduced exports from China.
Fluorspar is a mineral considered "critical" by the European Union,
used to make hydrofluorocarbons (HFCs) used in coolants, and
fluoropolymers. It is instrumental in energy reduction in metal
smelting and similar processes (i.e. cement, glass), as fluorspar
lowers melting temperature of numerous compounds. It is also
instrumental in aluminum production. Please visit
http://www.freeportresources.com/i/pdf/corporatepresentation.pdf
to view the Q presentation.
Zdenek Hora,
M.Sc., P.Geo., is the qualified person who has reviewed this
release.
Freeport Resources, founded in 1981, is a
mineral exploration company with a portfolio of promising,
diversified properties in Canada,
from precious and base metals to industrial minerals. Please visit
our website at www.freeportresources.com, email
info@freeportresources.com, or view our other presentations at
http://www.freeportresources.com/i/pdf/Hutton2011.pdf and
http://www.freeportresources.com/i/pdf/spanishmt2011.pdf for more
information.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Freeport Resources Inc.