VANCOUVER, BRITISH COLUMBIA (AMEX: FRG) ("Fronteer" or
"Company") is pleased to announce that remaining results from its
Phase 1 drilling program at Long Canyon in Nevada continue to
extend mineralization in multiple zones, with near-surface oxide
gold intersections as high as 3.03 grams per tonne over 16.8
metres.
Long Canyon defines a new gold trend in eastern Nevada that
shares common characteristics with well-known Carlin-style gold
deposits. High-grade gold intercepts define an open-ended zone of
shallow, oxide mineralization that is over 1,000 metres long across
a 300-metre-wide zone.
Drill highlights include:
- 3.03 grams per tonne over 16.8 metres, including 8.08 grams
per tonne over 4.6 metres in drill hole LC-054
- 2.34 grams per tonne over 7.6 metres in drill hole LC-058
- 2.39 grams per tonne over 12.2 metres, including 6.02 grams
per tonne over 3.0 metres in drill hole LC-059
- 2.98 grams per tonne over 16.8 metres, including 11.84 grams
per tonne over 1.5 metres in drill hole LC-060
These recent results highlight a new region of mineralization,
called the "West Zone", which has been intersected over a strike
length of 300 metres and is open to the northeast and southwest.
The West Zone may represent a potential deep feeder structure for
mineralization at Long Canyon.
"Long Canyon represents one of the most significant discoveries
made in Nevada in the last several years," says Robert Felder,
Fronteer's Nevada exploration manager. "Despite its relatively
early stage, Long Canyon shows excellent size and grade potential
with near-surface oxide gold over significant widths. Long Canyon
is an important component of Fronteer's global gold portfolio."
The Phase 1 drilling program, comprising 22 drill holes (3,500
metres), successfully extended mineralization and further defined
the deposit's geometry. The Phase 2 drilling program, currently
underway, aggressively seeks to extend mineralization to the
northeast and complete selected core twins of mineralization
intersected in previous reverse circulation drilling.
Detailed drilling results are as follows:
------------------------------------------------------------
Hole_ID From - m To - m Interval - m g/tonne Au
------------------------------------------------------------
LC-049 No significant results greater than 0.30 g/tonne
------------------------------------------------------------
LC-053 No significant results greater than 0.30 g/tonne
------------------------------------------------------------
LC-054 21.3 28.9 7.6 0.41
67.0 83.8 16.8 3.03
Including 70.1 74.7 4.6 8.08
89.9 91.4 1.5 1.90
144.8 149.4 4.6 0.54
------------------------------------------------------------
LC-055 No significant results greater than 0.30 g/tonne
------------------------------------------------------------
LC-056 No significant results greater than 0.30 g/tonne
------------------------------------------------------------
LC-057 27.4 28.9 1.5 0.60
------------------------------------------------------------
LC-058 57.9 65.5 7.6 2.34
68.6 73.2 4.6 1.33
------------------------------------------------------------
LC-059 38.1 39.6 1.5 0.44
50.3 62.5 12.2 2.39
Including 56.4 59.4 3.0 6.02
65.5 67.0 1.5 0.31
68.5 70.0 1.5 0.38
------------------------------------------------------------
LC-060 45.7 62.5 16.8 2.98
Including 47.3 48.8 1.5 11.84
65.5 67.0 1.5 1.07
------------------------------------------------------------
LC-061 No significant results greater than 0.30 g/tonne
------------------------------------------------------------
For a map showing the distribution of drill holes, please use
the following link:
www.fronteergroup.com/i/IR/LongCanyonUpdateMap.jpg.
Long Canyon is one of 19 new projects obtained through the
recent acquisition of NewWest Gold. Three of these projects -
Northumberland, Sandman and Zaca - have NI 43-101 gold resources.
Of the remaining 16 projects, nine have drill-indicated gold
mineralization.
Long Canyon is under option from AuEx Ventures Inc. ("AuEx")
(TSX: XAU). Under the terms of the option, Fronteer is the operator
and may earn a majority interest (51%) by investing $5 million over
a five-year period. Fronteer may earn an additional 14% by
advancing Long Canyon through feasibility.
Between 2000 and 2007, a total of 61 holes have been drilled at
Long Canyon. For a comprehensive table listing previous drill
results, please use the following link:
www.fronteergroup.com/i/IR/LongCanyonDrillSummary.pdf.
Robert Felder, M.Sc. and Certified Professional Geologist, is
designated as a Qualified Person for these Long Canyon drill
results, with the ability and authority to verify the authenticity
of, and validity of, this data. Drill composites calculated using
cut-off of 0.30 g/tonne. Drill intersections are reported as
drilled thicknesses. Efforts to determine true thicknesses are
ongoing. Reverse circulation cuttings were samples on 5.0 ft.
(1.52m) intervals and assayed by American Assay Laboratories
(ISO9002:2002) for gold by Fire Assay of a 30 gram (1 assay ton)
charge with an AA finish, or if over 10.0 grams per tonne Au was
re-assayed and completed with a gravimetric finish. QA/QC included
the insertion of numerous standards and blanks into the sample
stream. Selected holes are also analyzed for a 72-element
geochemical suite by ICP-MS.
LIQUIDITY
Fronteer is not invested in any short term commercial paper or
asset-backed securities. The Company has approximately C$98.5
million in cash that is fully liquid and held with a large
commercial bank.
ABOUT FRONTEER
Fronteer is an exploration and development company with a track
record of making big discoveries. Fronteer has a 40% interest in
three world-class gold and copper-gold projects in Turkey, an
extensive portfolio of advanced stage gold projects in Nevada, and
a 46.7% interest in Aurora Energy Resources (TSX: AXU), a leading
Canadian uranium company.
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to, those with respect to
potential expansion of mineralization, future plans for resource
estimation and exploration, drilling exposure and exploration
budgets and timing of expenditures involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Fronteer to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include,
among others, risks related to the actual results of current
exploration activities, conclusions of economic evaluations,
uncertainty in the estimation of ore reserves and mineral
resources, changes in project parameters as plans continue to be
refined, future prices of gold and silver, environmental risks and
hazards, increased infrastructure and/or operating costs, labor and
employment matters, and government regulation as well as those
factors discussed in the section entitled "Risk Factors" in
Fronteer's Annual Information form and Fronteer's latest Form 40-F
on file with the United States Securities and Exchange Commission
in Washington, D.C., and factors discussed in NewWest's annual
information form. Although Fronteer has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Fronteer disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Contacts: Fronteer Development Group Inc. Mark O'Dea, Ph.D,
P.Geo President and CEO (604) 632-4677 or Toll Free: 1-877-632-4677
Fronteer Development Group Inc. Glen Edwards Media Relations (604)
632-4677 or Toll Free: 1-877-632-4677 Email: info@fronteergroup.com
Website: www.fronteergroup.com
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