🕐14.10.09 - 22:16 Uhr
KWG RESOURCES INC. PROVIDES EXPLORATION UPDATE ON THE BIG DADDY CHROMITE PROSPECT
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EXPLORATION UPDATE ON
THE BIG DADDY CHROMITE PROSPECT
PRESS RELEASE
KWG
Symbol on TSX-Venture Exchange:
KWG
Shares issued and outstanding:
403,468,877
KWG RESOURCES INC., SPIDER RESOURCES INC.
AND FREEWEST RESOURCES CANADA
INC., PROVIDE EXPLORATION UPDATE ON
THE BIG DADDY CHROMITE PROSPECT
Hole FW-09-29 intersects 74.9 metres of massive chromite
mineralization.
Metallurgical tests conclude that >40% Cr2O3 can be considered direct
shipping ore with 1.9 Cr:Fe ratio
TORONTO, ONTARIO October 14, 2009 KWG Resources Inc.
(KWG:TSX-V)
(KWG), Spider Resources Inc.
(SPQ:TSX-V) (Spider), and Freewest
Resources Canada Inc.
(FWR:TSX-V) (Freewest) are pleased to provide an
exploration update on the Big Daddy Chromite property.Eight drill holes,
2,073 metres, have been completed, and have testedthe Big Daddy Chromite
prospect (a magmatic chromium deposit type)along its geophysically inferred
strike length to Line 20 East, and to a vertical depth of approximately
180metres.
The total amount of drilling in this campaign is estimated to be
11,000 metres in 28 drill holes.
The drill program is deigned to test the
entire geophysically inferred strike length on the property to a depth of
+/- 250 metres.
Drill Program
Drilling has progressed significantly since the last report of October 1,
2009, where holes FW-09-24 and 25 were reported on section 1400 metres East.
Drill spacing for this first pass of drilling was established at 200 metres,
testing the entire geophysically inferred strike length to section 2000
metres East.
Drilling has successfully encountered chromite mineralization
in each section.
Since the start of the project in 2006 chromite
mineralization has been established from Line 900 metres East to and
including Line 2000 metres East, for a strike length of 1100 metres thus
far.
Additional drilling is underway to the Northeast in an area where the
geophysical expression of the chromite mineralization appears to be
disrupted by faulting.
Summary of Drill results
DDH ID
Completed
Line
Sta #
Azimuth
Dip
Length
Mineralization Highlights
FW-09-24
Sep 26 / 09
14 E
1700 N
150
50
219
64.43 - 86.0 Intermittent Cr beds 86.0 - 101.85 diss
Cr in peridotite 101.85 - 132.2 Massive Cr
FW-09-25
Sep 30 / 09
14 E
1800 N
150
50
339
151.9 - 200.75 diss Cr + occ Cr bed in Per 200.75 - 213 fault
213.0 - 232.39 diss Cr + occ Cr beds in Per
232.39 - 270.35 Massive Cr
FW-09-26
Oct 2 / 09
16 E
1700 N
150
50
207
Cr zone displaced by fault 166.55 - 178.5 fault
in Pyx with trace py, po, cpy
FW-09-27
Oct 6 / 09
16 E
1800 N
150
50
321
171.0 - 173.3 diss Cr in Dunite 173.3 - 186.8
Massive Cr 186.8 - 189.0 diss Cr in
Dunite 189.0 - 208.0 diss + intermttent Cr in
Dunite 208.0 - 247.0 Massive Cr
FW-09-28
Oct 5 / 09
18 E
1745 N
150
50
207
39.0 - 60.5 Massive Cr 120.0 - 137.3
fault with py, cpy
FW-09-29
Oct 10 / 09
18 E
1850 N
150
50
368
70.1 - 117.35 intermittent Cr beds in Dunite
117.35 - 136.0 Massive Cr 136.0 - 148.0
diss Cr in Dunite 226.0 - 230.7 Semi Massive -
Massive Cr 231.45 - 233.0 Semi Massive Cr
234.75 - 244.3 Massive Cr 248.6 - 323.5
Massive Cr
FW-09-30
Oct 11/09
20 E
1750 N
150
50
77
23.7 - 33.8 Massive Cr
FW-09-31
Oct 11/09
20E
1850 N
150
50
335
205.4 - 235.9 intermittent Cr beds + diss in Dunite
235.9 - 264.5 Massive Cr (dyked off??)
Abbreviations: Cr (chromite), py (pyrite), cpy (chalcopyrite), po
(pyrrhotite), diss (disseminated), Per (peridotite), Pyx (pyroxenite).
Hole FW-09-26 entered a fault zone in pyroxenite between 9 and 45 metres
depth and then continued in an altered pyroxenite to the end of the hole at
207 metres.
No significant chromite mineralization was encountered.
Hole FW-09-27 was designed to step back and undercut Hole FW-09-26.
This
hole encountered massive chromite between 173.3 and 186.8 metres (13.5
metres massive chromite), followed by a second zone of massive chromite
mineralization between 208 and 247 metres (39 metres of massive chromite).
Hole FW-09-28 was designed as a 200 metre northeasterly step out from holes
FW-09-26 and 27.
The hole encountered massive chromite between 39 and 60.5
metres (21.5 metres massive chromite).
Hole FW-09-29 was designed to undercut Hole FW-09-28.
Chromite
mineralization was encountered between 117.4 and 136 metres (18.6metres of
massive chromite), followed by another zone of massive chromite with narrow
beds of semi-massive chromite that was encountered between 234.8 and 244.3
metres (massive chromite over 9.5 metres), followed by a very thick bed of
massive chromite between 248.6 and 323.5 meters (74.9 metres of massive
chromite).
Hole FW-09-30 was designed to test a 200 metre northeasterly step out from
Holes FW-09-28 and 29.
At the bedrock overburden interface of 23.7 metres,
the hole immediately entered massive chromite and stayed in this until 33.8
metres (10.1 metres of massive chromite subcropping).
Hole FW-09-31 was designed to be a 200 metre step out from Holes FW-09-28
and 29 and to undercut Hole FW-09-30.
Between 235.9 and 264.5 metres,
massive chromite was encountered (28.6 metres of massive chromite).
True widths of the chromite mineralization have yet to be determined, as
this is typically done once the geometry (attitude, dip, strike) of the
mineralized body is determined.
The systematic drill pattern as planned is
designed to better understand the Big Daddy Chromite Prospect along its
entire strike length at regular intervals, the chromite mineralized
intersections are quite variable due to the geological nature of the
intrusion.
Once the current program is completed, an estimate of true width
will be provided.
At current rate of drilling, it is anticipated that the
field portion of the program will be completed by early December.
Metallurgical Update
The companies arepleased to report that it has received the results of
scoping level mineral beneficiation test work conducted by SGS Lakefield
Research Limited and a geometallugical study conducted by Cliffs Natural
Resources on the Big Daddy Chromite Prospect.
These early stage studies will
guide both ongoing sampling requirements during drilling and subsequent
resource modelling and beneficiaton studies.
The result of conducting gravity separation test on eight samples covering
the range from low grade to high grade ledto the following conclusions;
* Some of the massive chromite has a grade >40% Cr2O3 which can be
considered direct shipping ore with 1.9 Cr:Fe ratio
* medium grade ore, 20-40% Cr2O3, can be upgraded to saleable material
* The average of 110 SEM-EDS analyses of chromite grains by Cliffs
are; 7.4% MgO, 12.64% Al2O3, 0.54% TiO2, 51.29% Cr2O3, and 27.46% FeO.
* grind size needs to be optimized in future testing to improve
recoveries at low and medium grades
A sulphide flotation test of the chromitite produced a concentrate
containing 14 g/t palladium, 3 g/t platinum, and 1 g/t gold.
An evaluation
of the distribution of all 6 PGEs is underway.
The minerals sperrylite
(PtAs2) and stibiopalladinite (Pd3Sb) and an unkown compound of Os-Ru-As-S
were identified by Cliffs in a hanging wall pyroxenite sample containing
2.24 g/t palladium and 2.36 g/t platinum over 0.5 metres.
Technical Advisory Committee
Spiders VP Exploration Jim Burns P.Eng., along with KWGs VP Exploration
Moe Lavigne M.Sc., P.Geo.
are Qualified Persons responsible for their
respective companys disclosure and have read and approve of this press
release, along with Don Hoy M.Sc., P.Geo.
representing Freewest.
These three
individuals are members of the Technical Committee for the project, along
with Neil Novak P.Geo., President of Spider, Mac Watson P.Eng., President of
Freewest and Richard Fink, Director of KWG.
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.
Forward-Looking Statements
This news release may contain forward-looking information which may
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statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
companies to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Forward-looking statements contained herein are made as of the date of this
press release and the companies disclaim any obligation to update any
forward-looking statements, whether as a result of new information, future
events or results or otherwise.
There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
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statements if circumstances, managements estimates or opinions should
change, except as required by securities legislation.
Accordingly, the
reader is cautioned not to place undue reliance on forward-looking
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- 30
For further information, please contact:
Bruce Hodgman,
Communications Director
Direct: 416-646-1374
Michel Ct
Director
514-866-6001 ext.
266
Or visit our website: www.kwgresources.com
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