Sharpe, Freewest release additional Wisconsin results

Partners Sharpe Energy and Resources (VSE) and Freewest Resources Canada (TSE) have received additional drill results from their Wisconsin massive sulphide program. The two companies are earning a 60% interest in the project from Cyprus Amax Minerals (NYSE).

At the Horseshoe prospect in Lincoln Cty., a second hole, HS94-5, intersected a broad zone of intense hydrothermal alteration, as well as altered metavolcanic flows and cherty metatuffs from 854 to 995 ft. Stockwork sulphide mineralization (up to 10% sulphides) occurs throughout the entire section and contains geochemically anomalous values of up to 555 parts per million (ppm) copper, 413 ppm lead, 3,128 ppm zinc and 2.4 ppm silver. Gold values were sporadic, ranging from 0.001 to 0.051 oz. per ton. The most significant intersection was the interval between 905 and 929 ft., which graded 1.32% zinc and 0.025 oz. gold over a true thickness of 19 ft. Based on results to date, the partners believe the centre of the massive sulphide system lies to the west at a depth of about 800 ft., in an area where several untested pulse electromagnetic (EM) anomalies have been defined. Downhole pulse EM surveys of hole HS94-5 will begin shortly to determine drill targets more precisely.

At the Bend property, about 40 miles west-southwest of Horsehoe, results have been received from the third drill hole. Hole B95-19 intersected the mineralized horizon from 390 to 512.6 ft., and contained 751 ppm copper and 0.03 oz. gold over a true thickness of 104.2 ft.

Additional results have been received from hole B94-18, which was collared on the western margin of the deposit. As previously announced, massive sulphide mineralization was encountered from 554 to 611.8 ft. New results show that the hole contains a lower, gold-bearing, massive sulphide zone from 716 to 731.4 ft. grading 0.092 oz.

Shallow drilling is continuing on the Bend zone to determine if the mineralization subcrops and to test for near-surface copper-gold supergene enrichment.