LABRADOR NEWS ROUNDUP — Freewest options ground

An option agreement with Newfoundland Goldbar Resources (CDN) sets the stage for Freewest Resources Canada (TSE) to earn a 50% interest in 19 separate properties along the Labrador coast.

The properties, which comprise 120,000 acres, cover favorable geology, geochemistry and areomagnetics along a 450-mile strike length north and south of the Voisey Bay nickel-copper-cobalt discovery.

Freewest can earn a half interest by paying $300,000 cash and spending $1.5 million on exploration over four years. An additional 10% can be earned by spending a further $1.5 million over an additional two years. Freewest will be operator during the earn-in period.

Property data are being compiled in order to begin an airborne geophysical survey and field exploration in August.

Dale Hendrick, a well-known geologist, recently joined Newfoundland Goldbar as chairman and chief executive officer.