Fronteer Development Group Inc.: Encouraging Copper-Gold Intervals Intersected at Yukon Project
January 09 2008 - 10:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: FRG)(AMEX: FRG) announced
today that two widely spaced drill holes from the Company's Hoover
property in the Yukon have returned the highest grade intervals of
copper-gold mineralization intersected to date.
Combined with Fronteer's previously announced intersections and
historical drilling, the new results suggest Hoover not only hosts
high grade copper-gold mineralization, but has significant tonnage
potential and may form an important deposit component in this
promising mineral district.
New drilling highlights include:
- 1.84% copper and 0.53 grams per tonne gold over 17.3 metres,
in HV07-27.
- 0.56% copper and 0.16 gram per tonne gold over 45.5 metres in
HV07-27.
- 1.20% copper and 0.48 grams per tonne gold over 7.9 metres, in
HV07-26.
Hoover is part of Fronteer's 400-sq-km land package in the
Wernecke Mountains of Canada's north-central Yukon Territory.
Fronteer's exploration efforts have focused on the growing
similarities in styles of copper-gold-uranium mineralization
between this underexplored part of Canada and the Olympic Dam
district of South Australia.
Final drill results for Hoover's 2007 exploration program are as
follows:
--------------------------------------------------------------------
2007 Hoover drill results
Interval Hole_ID From (m) To (m) Interval (m) Au (ppm) Cu (%)
HV07-26 276.7 327.2 50.5 0.07 0.24
Including HV07-26 319.3 327.2 7.9 0.48 1.20
--------------------------------------------------------------------
HV07-27 19.5 65.0 45.5 0.16 0.56
Including HV07-27 23.6 26.4 2.8 0.30 1.17
Including HV07-27 51.0 59.0 8.0 0.27 1.21
HV07-27 204.7 222.0 17.3 0.53 1.84
--------------------------------------------------------------------
Previously announced 2007 results
HV07-19 58.8 61 2.2 0.07 0.20
HV07-19 214.8 238 23.2 0.21 0.39
HV07-19 264.6 313 48.4 0.12 0.28
--------------------------------------------------------------------
HV07-20 NSA
--------------------------------------------------------------------
HV07-21 119.0 135.4 16.4 0.22 0.86
HV07-21 191.0 214.2 23.2 0.05 0.41
HV07-21 273.4 350 76.6 0.11 0.23
--------------------------------------------------------------------
HV07-22 79.7 168.2 88.5 0.11 0.55
--------------------------------------------------------------------
HV07-23 NSA
--------------------------------------------------------------------
HV07-24 NSA
--------------------------------------------------------------------
HV07-25 170 254 84 0.08 0.12
Including HV07-25 218 227 9 0.03 0.17
HV07-25 347 365 18 0.12 0.15
--------------------------------------------------------------------
- Note: The true width of the mineralized zones is estimated to be
approximately 75% of those stated. HV07-26 stopped in mineralized
zone owing to drill repair.
Mineralization at Hoover has been intersected in 11 widely
spaced drill holes. Hoover remains open for further expansion to
the north and south and at depth. Anomalous copper geochemistry has
also been detected as far as 800m to the south along strike from
the most southerly drill hole, as well as westward from known
mineralization.
For a comprehensive table listing all Hoover drill results,
including historical drilling, please use the following link:
www.fronteergroup.com/i/IR/HooverDrillResults.pdf
For a map showing the distribution of all drilling and MMI soil
geochemistry at Hoover, please use the following link:
www.fronteergroup.com/i/IR/HooverMap.jpg
The Wernecke exploration program is operated by Fronteer, and
funded pro-rata by the Company (80%) and its joint venture partner
Rimfire Minerals Corp (20%). Further 2007 drill results from
additional properties in the Wernecke Mountains are pending.
Assay results have been prepared under the guidance of David
Kuran, P. Geo, who is designated as a Qualified Person with the
ability and authority to verify the authenticity of and validity of
this data. All samples were analyzed by ALS Chemex, North
Vancouver, BC, using ICP-AES and fire assay. Assays were completed
with uranium determinations by ME-MS-61 ICP geochemical analysis
with samples returning over 1000 ppm U were then analyzed by
U-XRF-10 analysis.
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 08-02
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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