Fronteer Hits 23 Feet of Nearly One Ounce Per Ton Gold at Nevada Property
January 07 2008 - 10:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: FRG)(AMEX: FRG) is pleased to
announce that new drilling at its Long Canyon property in Nevada
has intersected high-grade gold mineralization.
Diamond drill hole LC063C has hit a significant zone of
near-surface mineralization similar to famous Carlin-style gold
deposits.
LC063C returned:
- 0.88 ounces per ton gold (30.10 grams per tonne) over a true
thickness of 23 feet (7.0 metres), within a broader zone that
returned 0.39 ounces per ton gold (13.40 grams per tonne) over a
true thickness of 75 feet (22.9 metres).
"Long Canyon defines a totally new gold trend in Nevada and
ranks as one of the most significant greenfield discoveries made in
the state in the last several years," says Fronteer President and
CEO Mark O'Dea. "This emerging deposit shows encouraging grade and
tonnage potential and remains open for expansion in all
directions."
The Nevada Bureau of Mines and Geology and the Nevada Division
of Minerals recently selected Fronteer's Long Canyon property as
one of Nevada's Top 10 exploration projects in a presentation to
the Northwest Mining Association.
LC063C is a 65-metre, step-out hole from RC hole LC041
(3.88gpt/15.2 m) and is 150 metres beyond the northeastern limits
of a 1,000-metre long, gold soil anomaly (greater than 100ppb),
indicating that mineralization not only continues in this direction
but has higher grades.
Gold mineralization, which occurs within 35 metres of surface,
is sediment hosted, stratabound and strongly oxidized.
Mineralization occurs within highly sheared iron-altered calcareous
sediments. Core from this bonanza mineralization can be viewed by
using the following link:
www.fronteergroup.com/i/IR/LongCanyonC63Core0801.jpg.
Also of significance, LC062C - a second diamond drill hole
located 750 metres to the southwest of LC063C and in the heart of
the gold soil anomaly - returned:
- 0.06 ounces per ton (2.03 grams per tonne) over 27 feet (8.2
metres)
For a map showing the location of LC063C and LC062C, please use
the following link:
www.fronteergroup.com/i/IR/LongCanyonMap0801.jpg.
These two holes are part of Long Canyon's recently completed
Phase 2 core drilling program, which was designed to extend and
infill mineralization. Assay results from four additional Phase 2
drill holes are pending.
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. Sandman and Northumberland were also ranked in the
top 10 exploration projects by the Nevada Bureau of Mines and
Geology and the Nevada Division of Minerals.
A total of 61 RC holes and 6 core holes have been drilled at
Long Canyon. For a comprehensive table listing drill results
to-date, please use the following link:
www.fronteergroup.com/i/IR/LongCanyonDrillSummary0801.pdf.
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.
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. Core was sampled at geologically selected
intervals and was 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.
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 western Turkey,
an extensive portfolio of advanced stage gold projects in Nevada,
and a 42.3% 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, and size of mineralized
zone, and size of exploration program 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 international
operations, 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,
silver, copper, and uranium, 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. 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.
NEWS RELEASE 08-01
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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