Projects Overview Newfoundland & Labrador British Columbia
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Fluorite showings in Barrett Creek canyon staked by H. Forster of Kamloops.
Eaglet Mines Ltd. commenced an exploration program which continued for over ten years. A diamond drill and underground exploration program focussed on a zone 600 metres (1970 ft) west of Barrett Canyon, with Adit Number One driven northerly at this location.
In 1985, a study was conducted by structural geologist, Dr. P. B. Read, to better understand the distribution of mineralized zones.
In the mid 1980's, commodity prices fell sharply. From 1984 to 1985, international fluorspar prices decreased almost 50% from US$ 130-21/metric tonne to US$ 72-115/metric tonne. Between 1980 and 1983, molybdenum prices decreased from US$25/kg to below US$ 10/kg.
Due to funding difficulties, Eaglet Mines allowed the property to lapse in 1990-91. Work carried out in its last years of exploration, 1986-1988, was not publicly reported and many results are unavailable.
Freeport Resources Inc. staked eight 2-post mineral claims to cover the explored fluorite zones. Additional claims were staked afterwards. Selective mapping and sampling of Adit Number Two was conducted by geologist J.C. Ball, with a review of historical data from 1966 to 1994, and co-authored a report with J.J. McDougall, P.Eng.
The site was visited by several independent consulting geologists and Freeport staff, who sampled Adit No. 2, examined and sampled drill core, and located existing drill hole collars/platforms to determine if any could be re-entered.
A digital GPS survey was conducted to create one 16 unit block (4 sq km, 1.5 sq mi), renamed the "Q". The property was maintained on a "care and maintenance basis".
Freeport commenced a digital database on the property, including 60 detailed lithological drill hole logs by Dr. P. Read.
Freeport assayed hundreds of pulp samples stored at the site from drill holes completed in 1983-1985. This work identified widespread celestite (strontium sulphate) in the deposit.
Assay results were reviewed in conjunction with the drill hole logs and a comprehensive compilation report was completed.
Due to very encouraging Mo results, Freeport staked an additional 40 units in the spring of 2007 to hold a 12 sq km (4.6 sq mi) claim block.
Detailed mineralogical and petrographic study completed and published by BC Geological Survey.
Freeport stakes the Q-Z claims, 29 units (7.3 sq km, 2.8 sq mi) located about 8 km (5 mi) southeast of the Q. The new block covers a large molybdenum anomaly measuring 2000m x 500m (6500' x 1640'), with values up to 116 ppm Mo in soil samples, discovered in the early 1980's by the "Molybdenum Belt Joint Venture" (Cominco & Bethlehem Copper).
In summary, the Q claims have potential to become an attractive Mo prospect. Present prices of MoS2 are significantly higher than in 1988. In addition, reduced exports of fluorspar from China, the world's major producer, have led to rising prices, especially for acidspar globally, as demand has outpaced production.