Fronteer Development Group Inc. (TSX: FRG)(NYSE Amex: FRG) is
pleased to announce that Newmont USA Limited ("Newmont"), a
subsidiary of Newmont Mining Corporation, has provided the results
from a further 16 holes recently drilled as part of their 2009
US$5M work-program at the Sandman gold project in Nevada.
Drilling continues to focus on two gold deposits, Silica Ridge
and Southeast Pediment, which are quickly emerging as a series of
high-quality assets in an underexplored part of Nevada. These
deposits, separated by six kilometres along the Sleeper Trend,
already display compelling production attributes, including:
- High gold and silver grades, characteristic of productive
epithermal vein systems;
- Wide intervals of mineralized wallrock surrounding the high
grade vein networks;
- Oxidized and outcropping mineralization potentially amenable
to heap-leaching and open-pit mining;
- Excellent surrounding infrastructure; and
- Located in the mining-friendly jurisdiction of Nevada.
At Silica Ridge, eight new drill holes have intersected oxidized
gold mineralization, all within 40 metres of surface. Highlights
include:
- 8.35 grams per tonne gold over 4.94 metres in NSM-104;
- 7.63 g/t over 10.18 metres, including 17.22 g/t over 3.90
metres in NSM-106; and
- 12.32 g/t over 3.75 metres (starting at surface) in
NSM-109.
Wider intervals of lower grade mineralization were also
intersected in numerous holes. Using a 0.3 g/t cut-off, these
intervals include:
- 0.89 g/t over 17.59 metres in NSM-41; and
- 0.96 g/t over 23.01 metres in NSM-103.
Mineralization at Silica Ridge occurs over a 700x250m area, down
to a vertical depth of at least 50 metres, and remains open in all
directions.
"We continue to encounter near-surface, high-grade
mineralization at Sandman. The significance of these results
supports our recently completed priority analysis that ranks
Sandman among Fronteer's highest quality assets in Nevada," says
Troy Fierro, Fronteer Chief Operating Officer. "While many
companies are reworking historic mining properties, Fronteer
continues to define resources in undeveloped areas."
At Southeast Pediment, eight holes have intersected oxidized
gold mineralization, all within 40 metres of surface. Highlights
include:
- 3.91 g/t over 7.59 metres in NSM-56;
- 1.07 g/t over 10.21 metres in NSM-58; and
- 1.51 g/t over 13.05 metres in NSM-72.
The Southeast Pediment Deposit has only been tested to a
vertical depth of 200 metres and remains open in all directions.
Two nearby geophysical/geochemical anomalies have yet to be drill
tested.
Newmont's ongoing 2009 work-program will provide the foundation
for development activities. The overall objectives of the 2009
development program are to focus on the known deposits at Southeast
Pediment and Silica Ridge and drill a combination of HQ and PQ core
holes to:
- confirm the character of gold mineralization (size range of
the gold);
- obtain bulk metallurgical material for mill grade and
potential heap leach metallurgical tests; and
- improve the understanding of the geology and ore controls of
the mineralization.
The 2009 exploration program will focus on finding additional
mineralization along the known structural trends from two of the
four existing gold resource areas, and also target new areas
generated from geological mapping and the results of recent
geophysical and geochemical surveys.
SANDMAN DRILL RESULTS
From To Interval Au Au Ag Cut-off
Hole ID (m) (m) (m) (g/t) Opt (g/t) (g/t Au) Target Area
NSM-56 29.26 36.85 7.59 3.91 0.114 22.68 0.5 South East
including 32.86 34.32 1.46 14.35 0.419 27.91 2.0 Pediment
NSM-58 29.32 39.53 10.21 1.07 0.031 15.29 0.3 South East
including 29.32 32.31 2.99 0.65 0.019 14.70 0.5 Pediment
including 34.44 37.09 2.65 1.82 0.053 18.49 0.5
including 38.01 39.53 1.52 1.13 0.033 16.48 0.5
NSM-67 17.07 19.93 2.87 0.62 0.018 8.41 0.3 South East
and 24.90 27.98 3.08 0.64 0.019 12.01 0.3 Pediment
including 25.60 27.98 2.38 0.72 0.021 13.23 0.5
and 30.94 35.20 4.27 2.11 0.062 7.80 0.5
including 30.94 33.10 2.16 3.55 0.104 10.01 2.0
NSM-71 2.83 14.78 11.95 0.62 0.018 7.47 0.3 South East
including 8.66 12.56 3.90 1.05 0.031 6.42 0.5 Pediment
and 17.77 25.45 7.68 1.24 0.036 13.04 0.5
including 23.93 25.45 1.52 2.80 0.082 20.09 2.0
NSM-72 9.85 12.19 2.35 0.81 0.024 6.35 0.5 South East
and 14.48 27.52 13.05 1.51 0.044 14.78 0.3 Pediment
including 16.86 26.15 9.30 2.00 0.058 19.36 0.5
including 22.04 24.99 2.96 4.41 0.129 27.98 2.0
and 39.62 47.52 7.89 0.47 0.014 1.90 0.3
including 39.62 42.76 3.14 0.57 0.017 3.30 0.5
NSM-73 7.74 9.33 1.59 0.54 0.016 1.41 0.3 South East
including 7.74 8.75 1.01 0.67 0.019 0.89 0.5 Pediment
NSM-78 32.31 33.19 0.88 0.57 0.017 4.39 0.5 South East
Pediment
NSM-80 74.92 76.54 1.62 0.99 0.029 1.10 0.5 South East
Pediment
----------------------------------------------------------------------------
NSM-37 12.34 20.21 7.86 0.83 0.024 8.72 0.3 Silica Ridge
including 12.34 17.37 5.03 1.09 0.032 10.49 0.5
and including 16.40 17.37 0.98 2.19 0.064 5.21 2.0
NSM-41 4.45 22.04 17.59 0.89 0.026 8.81 0.3 Silica Ridge
including 4.45 12.80 8.35 1.00 0.029 7.50 0.5
including 14.17 17.89 3.72 1.34 0.039 15.16 0.5
and including 14.17 14.84 0.67 3.64 0.106 22.70 2.0
NSM-103 0.00 23.01 23.01 0.96 0.028 62.53 0.3 Silica Ridge
including 0.00 6.61 6.61 1.32 0.039 98.69 0.5
and including 5.55 6.13 0.58 2.22 0.065 173.69 2.0
including 7.56 18.29 10.73 1.00 0.029 57.73 0.5
including 19.17 21.49 2.32 0.57 0.017 28.34 0.5
NSM-104 4.66 14.87 10.21 4.48 0.131 39.52 0.3 Silica Ridge
including 6.83 11.77 4.94 8.35 0.244 57.29 2.0
including 13.78 14.87 1.10 2.31 0.067 30.89 2.0
and 15.33 18.59 3.26 0.86 0.025 37.55 0.5
and 19.75 21.79 2.04 0.61 0.018 10.99 0.5
NSM-105 0.00 7.99 7.99 2.03 0.059 46.49 0.5 Silica Ridge
including 4.54 6.10 1.55 3.78 0.110 40.01 2.0
NSM-106 38.86 49.04 10.18 7.63 0.223 44.62 0.5 Silica Ridge
including 38.86 41.73 2.87 2.68 0.078 10.91 2.0
and including 42.73 46.63 3.90 17.22 0.502 77.25 2.0
NSM-108 0.00 2.87 2.87 2.26 0.066 8.26 0.5 Silica Ridge
including 0.00 1.34 1.34 2.77 0.081 7.51 2.0
and 20.48 27.77 7.28 1.22 0.036 56.51 0.5
and 28.59 36.30 7.71 0.72 0.021 21.84 0.3
including 29.54 31.76 2.23 1.06 0.031 46.12 0.5
including 32.55 36.30 3.75 0.64 0.019 6.51 0.5
NSM-109 0.00 3.75 3.75 12.32 0.359 19.78 2.0 Silica Ridge
and 6.71 7.56 0.85 2.64 0.077 56.58 2.0
and 8.66 13.78 5.12 1.46 0.043 35.63 0.3
including 8.66 12.01 3.35 2.00 0.058 44.18 0.5
and including 9.85 12.01 2.16 2.72 0.079 56.58 2.0
and 20.33 33.86 13.53 0.65 0.019 27.69 0.3
including 20.33 25.79 5.46 0.80 0.023 30.16 0.5
including 26.82 27.74 0.91 0.50 0.015 22.70 0.5
including 28.90 30.14 1.25 0.61 0.018 37.61 0.5
including 31.36 33.86 2.50 0.65 0.019 23.33 0.5
Note: The true width of the mineralized zones is estimated to be
approximately 90% of those stated. Primary composite intervals were
calculated using a cut-off of 0.3 g/t Au, 0.5 g/t Au and 2.0 g/t Au
for the higher grade internal intervals. No gold values below the 0.30
g/t Au cut-off were included as internal dilution. The lower 0.3 g/t
cut-off is used to conform with the 43-101 compliant resources
previously calculated on the Sandman Project.
Assay results are currently remaining for an additional 19 holes
from the 2009 Phase 1 program completed on April 17, 2009.
Under the terms of the Sandman option and joint-venture
agreement, Newmont can earn an initial 51% interest in the project
by making a positive production decision by June 2011, spending a
minimum of US$14 million on exploration and development, making a
commitment to fund and construct a mine, and completing a
feasibility study. Thereafter, Newmont may earn an additional 9%
interest in Sandman by spending a further US$9 million on
development. Fronteer can elect to have Newmont arrange financing
for its 40% of ongoing development costs in the joint venture.
Drill samples and analytical data for the Sandman project are
being collected under the supervision of Newmont, Fronteer's joint
venture partner and project operator, using industry standard QA-QC
protocols. Fronteer's James Ashton P.E., who is the QP responsible
for compiling the data contained in this release, has not verified
the data; however, the grades and widths reported here agree well
with the Company's past results on the project and correspondence
with the operator has given him no reason to doubt their
authenticity. For further details on Sandman, please view the
technical report prepared by Mine Development Associates ("MDA"),
as of May 31, 2007, on SEDAR at http://www.sedar.com.
Sandman, Long Canyon and Northumberland are currently Fronteer's
leading properties among its large portfolio of gold projects in
Nevada.
For more information on Sandman and Fronteer's other Nevada
projects, visit: http://www.fronteergroup.com/?q=content/nevada
ABOUT FRONTEER
Fronteer is an exploration and development company with three
key gold projects in Nevada forming its platform for future gold
production. Fronteer also has a 40% interest in three gold and
copper-gold projects in western Turkey, and 100% ownership of
Aurora Energy Resources, a private subsidiary advancing a
world-class uranium district in Labrador, Canada. For further
information on Fronteer visit www.fronteergroup.com.
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, potential 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 and joint ventures, 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 and
permitting requirements 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 09-20
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. Richard Moritz Director, Investor
Relations 604-632-4677 or Toll Free 1-877-632-4677 Fronteer
Development Group Inc. Glen Edwards Director, Communications
604-632-4677 or Toll Free 1-877-632-4677 info@fronteergroup.com
www.fronteergroup.com
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