Spider Resources Inc. , KWG Resources Inc. And Freewest Resources Canada Inc., Provide Drilling Update On The Big Daddy Chromite Prospect

16 Nov 2009, Posted by Bruce Hodgeman in 2009, News
  • Strike and Depth of Big Daddy Chromite Prospect expanding to northeast and beyond 250 metres depth
  • Hole FWR-09-43 encounters 93 metres of chromite mineralization, including 76 metres of Massive Chromite

TORONTO , ONTARIO – November 16, 2009 – Spider Resources Inc. (SPQ:TSX-V) (“Spider”), KWG Resources Inc. (KWG:TSX-V) (“KWG”) and Freewest Resources Canada Inc. (FWR:TSX-V)(“Freewest”) are pleased to provide an exploration update on the drilling at the Big Daddy Chromite property. Since starting the current exploration program on September 23, 2009, twenty drill holes totaling 5,776 metres, have been completed and two more holes are underway. These holes have continued to expand and delineate the Big Daddy Chromite prospect (a magmatic chromium deposit type) along strike and to depth. The total amount of drilling in the current campaign is estimated to be 11,000 metres in 28 drill holes, designed to test the entire geophysically inferred strike length of the Big Daddy prospect on the property to a depth of +/- 250 metres at an optimum drill density of 100 metres, being the depth and density for a preliminary pit optimization review.

Drill Program

Drilling has progressed significantly since the last report of October 14, 2009, when holes up to FW-09-31 were reported up to and including section 2000 metres East. Originally, holes were spaced at 100 metre stations along lines 200 metres apart, but now spacing has been tightened to 100 metres by 100 metres. Two of the newly reported holes were drilled on Section 2100 metres East, thus extending the strike length to at least Section 2100 metres East (see drill planhttp://spiderresources.com/pressreleases/SPQPR20091110DDHCollars300dpi.png). Drilling continues to successfully encounter chromite mineralization in each section. Since the start of the project in 2006 chromite mineralization has been established between section 900 metres East to and including section 2100 metres East, for an inferred strike length of 1300 metres thus far. Drilling will continue to explore the chromite mineralization towards the northeast, where faults are interpreted to have offset Big Daddy from the Probe “Creek Zone” and Freewest’s “Black Thor”. In addition, drilling has commenced on a coincident magnetic and electromagnetic anomaly, that straddles the border between the Big Daddy property with four claims held by Freewest due north of the Big Daddy Property.

Assay QA/QC protocol

Samples are continuously being sent out for analysis and are being tracked through a chain of custody process from the time they leave the base camp at McFaulds Lake until they arrive at the laboratory, then during the analytical process that involves preparing the samples at Actlabs facility in Thunder Bay, Ontario through final processing at their facility in Ancaster, Ontario. Once final assays are received from the lab, the analytical results (including the labs internal quality control data) are reviewed and processed by an independent Quality Assurance, Quality Control protocol established at the onset of the program. Once the QA/QC process is completed, the final approved assays are entered into a master assay data file where the results are initially compared to the lithological record for each drill hole and then weighted averages are calculated over appropriate core lengths. Averages will be reported once the final results for a complete hole are available. At present there are no complete holes with assays to report.

Summary of Drill results (since last report)

DDH ID

Completed

Line

Sta #

Az. 

Dip

Length
(m)

Mineralization Highlights (visuals)

FW-09-32

Oct 15 / 09

21 E

1850 N

150

50

291.5

93.7 – 97.0  thick beds massive Cr in dunite
180.9 – 186.0  Massive Cr  (5.1m Cr)
186 0 – 206.6  intermittent beds massive Cr in dunite

FW-09-33

Oct 20 / 09

15 E

1800 N

150

50

267

195.0 – 205.6  Massive Cr  (10.6m Cr)
207.6 – 221.0  Massive Cr  (13.4m Cr)   

FW-09-34

Oct 18 / 09

14 E

1900 N

150

50

468

315.6 – 315.9  Massive Cr (0.3m Cr)
334.0 – 351.9  Massive Cr  (17.9m Cr)
354.5 – 360.0  Massive Cr  (5.5m Cr)
383.0 – 415.3  Massive Cr  (32.3m Cr)
   

FW-09-35

Oct 26 / 09

16 E

1800 N

150

50

429

348.0 – 356.5  Massive Cr  (8.5mCr)
365.0 – 398.6  Massive Cr (33.6m Cr)   

FW-09-36

Oct 17 / 09

15 E

1700 N

150

50

192

9.8 – 19.5 Massive Cr  (9.7m Cr)
24.9 – 28.5 Massive Cr  (3.6m Cr)
33.0 38.0 Massive Cr  (5.0m Cr) 
47.65 – 96.0 Massive Cr  (48.35m Cr)  

FW-09-37

Oct 20 / 09

13 E

1700 N

150

50

171

I00.0 – 114.0  Massive Cr  (14.0m Cr) 

FW-09-38

Oct 29 / 09

21 E

1900 N

150

50

423

263.0 – 266.0  Massive Cr  (3.0m Cr)
372 – 378  Massive Cr (6.0m Cr)
388.2 – 388.8  Masive Cr  (0.6m Cr)
390.55 – 398.0  Massive Cr  (7.45m Cr)   

FW-09-39

Oct 31 / 09

17 E

1850 N

150

50

328

119.1 – 137.8  Massive Cr  (18.7m Cr)

FW-09-40

Oct 31 / 09

17 E

1750 N

150

50

175

81.8 – 83.6  Massive Cr  (1.8m Cr)
87.4 – 102.2 Massive Cr ( 14.8m Cr)

FW-09-41

Nov 10 / 09

17 E

1950 N

150

50

490.5

262.5 – 265.3  Massive Cr  (2.8 m Cr) 
319.6 – 320.5  Massive Cr (0.9m Cr)

353.7 – 356.1  Massive Cr (2.4m Cr)   
441.0 – 460.4 Massive Cr
(19.4m Cr)

FW-09-42

Nov 6 / 09

19 E

1750 N

150

50

133.5

8.0 – 24.5  disseminated Cr  24.5 – 35.9  thin intermittent Cr beds

FW-09-43

Nov 13 / 09

19 E

1850 N

150

50

330

224.5 – 243.0 Massive Cr (18.5m Cr)
243.0 – 260.0 intermittent Cr beds
260.0- 317.5 Massive Cr  (57.5m Cr)

FW-09-44

in progress

18 E

1950N

 150

 50

Abbreviations: Cr (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, as 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 the current rate of drilling, it is anticipated that the field portion of the program will be completed in early December.

Qualified Persons

Spider’s VP Exploration James Burns P.Eng., along with Neil Novak P.Geo., President of Spider, have prepared and reviewed this press release, both of which are Qualified Persons under Canadian Securities Guidelines.

About Spider Resources Inc.  

Spider Resources Inc. is the pioneer exploration company in the James Bay Lowlands of Northern Ontario, exploring this area since 1993. The exploration team at Spider is responsible for the discovery of 8 kimberlites to the east of the Ring of Fire as well as 2 VMS deposits (McFaulds 1 and McFaulds 3), 8 additional VMS occurrences, and the Big Daddy Chromite Prospect within the Ring of Fire. Spider Resources Inc. is a Tier 2 Canadian exploration company, quoted for trading on the TSX Venture Exchange under the symbol SPQ.  There are currently 389,545,100 shares issued in Spider.

For further information concerning Spider Resources Inc., please contact:

Neil D. Novak, P.Geo.
President and CEO
Direct: 416-203-8636
Email: [email protected]
Website: www.spiderresources.com

About Freewest

Freewest is a well-financed mineral exploration company.  It is actively exploring for gold, base-metals and chromite within eastern Canada.  Corporate information can be accessed on the Internet at www.freewest.com.  Freewest’s shares are listed on Tier 1 of the TSX Venture Exchange under the symbol FWR.

For further information concerning Freewest Resources Canada Inc., please contact:

Mackenzie I. Watson
President and CEO
Tel: (514) 878-3551 or 1-888-878-3551
Fax: (514) 878-4427

or

Bay Street Connect
Michael D’Amico
Investor Relations
Tel: (647) 500-6023

E-mail: [email protected] Website: www.freewest.com

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.

For further information concerning KWG Resources Inc., please contact:

Bruce Hodgman
Communications Director
Direct: 416-646-1374
[email protected]
Michel Côté
Director
514-866-6001

Website: www.kwgresources.com

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