Fronteer (TSX: FRG)(NYSE Amex: FRG) announces today that a new
step-out hole at its Long Canyon deposit in northeastern Nevada has
intersected 4.23 grams per tonne gold (0.124 ounces per ton) over
48.8 metres, including 10.07 g/t gold (0.294 oz/ton) over 15.20
metres.
This new hole, LC411, is approximately 400 metres from the
northeastern edge of the existing resource and represents the most
northerly test of mineralization at the deposit to-date. LC411 is
also roughly 400 metres away from another recently reported
400-metre step-out hole (LC372 in Jan. 6, 2010 press release),
demonstrating that the intensity of the Long Canyon gold system
persists to the northeast.
Also of significance, LC402, drilled from the same location as
LC372 but at a slightly steeper angle, returned:
-- 15.60 g/t gold (0.456 oz/ton) over 7.60 metres.
In addition to the holes described above, a new zone of
mineralization, measuring at least 350 metres long and 150 metres
wide, now ties together the Shadow and Crevasse zones. This
drilling demonstrates that mineralized zones are coalescing along
strike, resulting in enhanced deposit continuity. Highlights
include:
-- 6.02 g/t (0.176 oz/ton) over 21.3 metres, including 9.43 g/t
(0.275 oz/ton) over 12.2 metres in LC410.
-- 4.37 g/t (0.127 oz/ton) over 22.9 metres, including 8.51 g/t
(0.248 oz/ton) over 9.1 metres in LC403.
For a map highlighting recent drilling, please click:
http://media3.marketwire.com/r/DrillMap1004
DRILL HIGHLIGHTS
------------------------------------------------------------
Intercept
Hole ID From To length Au Au
(metres) (metres) (metres) (oz/ton) (g/t)
------------------------------------------------------------
LC383C 154.9 159.5 4.6 0.06 2.04
------------------------------------------------------------
LC390C 104.4 122.0 17.5 0.055 1.90
------------------------------------------------------------
including 104.4 111.3 6.9 0.11 3.78
------------------------------------------------------------
including 120.7 122.0 1.2 0.142 4.88
------------------------------------------------------------
LC391C 98.2 106.3 8.1 0.093 3.17
------------------------------------------------------------
LC399C 68.4 80.0 11.6 0.101 3.47
------------------------------------------------------------
LC400 315.5 320.1 4.6 0.033 1.13
------------------------------------------------------------
LC401 69.1 72.0 2.9 0.057 1.95
------------------------------------------------------------
LC402 303.4 311.0 7.6 0.456 15.60
------------------------------------------------------------
LC403 123.5 146.3 22.9 0.127 4.37
------------------------------------------------------------
including 134.1 143.3 9.1 0.248 8.51
------------------------------------------------------------
LC405 176.8 193.6 16.8 0.076 2.60
------------------------------------------------------------
including 184.4 187.5 3.1 0.194 6.68
------------------------------------------------------------
286.6 317.1 30.5 0.222 7.60
------------------------------------------------------------
including 297.3 311.0 13.7 0.451 15.46
------------------------------------------------------------
LC406 117.4 126.5 9.1 0.075 2.57
------------------------------------------------------------
LC408 89.9 103.7 13.7 0.066 2.26
------------------------------------------------------------
LC410 114.3 135.7 21.3 0.176 6.02
------------------------------------------------------------
including 123.5 135.7 12.2 0.275 9.43
------------------------------------------------------------
138.7 141.8 3.0 0.230 7.88
------------------------------------------------------------
LC411 189.0 237.8 48.8 0.124 4.23
------------------------------------------------------------
including 218.0 233.2 15.2 0.294 10.07
------------------------------------------------------------
Primary drill composites were calculated using a cut-off of 0.30
g/t, with variably higher cut-offs for the sub-intervals. Drill
intersections are reported as drilled thicknesses. True widths of
the mineralized intervals are interpreted to be between 70-100% of
the reported lengths. "#C" indicates core holes. Results less than
1 g/t are not reported in this press-release table. For a PDF of
comprehensive drill results, including non-reportable intercepts,
please click: http://media3.marketwire.com/r/DrillResults1004
These newly reported drill results are the last from the
exploration component of the 2009 work-program. Assays from
remaining metallurgical holes are pending. Approximately 30,000
metres of drilling was completed in 2009 at Long Canyon, with the
majority dedicated to development-related activities to advance the
project to feasibility stage.
Late last year, a positive Preliminary Economic Assessment for
Long Canyon was announced (See Dec. 1, 2009 press release).
Upcoming activities to report in the near-term include:
-- An updated NI 43-101 resource estimate, incorporating drill results from
2009, planned to be completed during first half of 2010.
-- A budget and work program for 2010, planned to be announced in Q1.
-- Detailed metallurgical findings to be reported in Q1 2010. Metallurgical
samples obtained from 20 large-diameter core holes on three cross-
sections that have been composited and submitted to McClelland
Laboratories in Sparks, Nevada, to be reported in Q1 2010.
Long Canyon, Sandman and Northumberland comprise Fronteer's
future production platform based in Nevada. All three gold deposits
have high-grade oxide gold starting at- or near-surface, are
potentially open-pit mineable and have strong production
attributes. Fronteer aims to build regional production by advancing
these projects sequentially over the near-term, and funding the
company's growth with low-risk of dilution. In the near-term,
Fronteer anticipates ongoing deposit growth to add significant gold
ounces to its ledger and pending results from a variety of
development activities to clearly define the economic strength of
the company's projects.
Fronteer is majority owner (51%) and operator of Long Canyon
through a joint venture with AuEx Ventures Inc. (49%).
Moira Smith, Ph.D., and Professional Geologist as recognized by
the Association of Professional Engineers and Geoscientists,
British Columbia, 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
were calculated using a cut-off of 0.30 g/t. Drill intersections
are reported as drilled thicknesses. True widths of the mineralized
intervals are interpreted to be between 70-100% of the reported
lengths. Reverse circulation cuttings were sampled on 5.0 feet
(1.52 metre) intervals and core was sampled at geologically
selected intervals. Drill samples were assayed by ALS Chemex
(ISO9001:2000) in Reno, Nevada for gold by Fire Assay of a 30 gram
(1 assay ton) charge with an AA finish, or if over 5.0 g/t were
re-assayed and completed with a gravimetric finish. For these
samples, the gravimetric data were utilized in calculating gold
intersections. QA/QC included the insertion and continual
monitoring of numerous standards and blanks into the sample stream,
and the collection of duplicate samples at random intervals within
each batch. Selected holes are also analyzed for a 72-element
geochemical suite by ICP-MS.
ABOUT FRONTEER
We intend to become a significant gold producer. Our solid
financial position and strengthened operational team give us the
ability to advance our key gold projects through to production. Our
future potential production platform includes our Long Canyon,
Sandman and Northumberland projects - all located in Nevada, one of
the friendliest gold-mining jurisdictions in the world.
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, timing of preliminary economic assessment and
size and location 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 10-04
Contacts: Fronteer Mark O'Dea, Ph.D, P.Geo President and CEO
604-632-4677 or Toll Free 1-877-632-4677 Fronteer Richard Moritz
Director, Investor Relations 604-632-4677 or Toll Free
1-877-632-4677 Fronteer Glen Edwards Director, Communications
604-632-4677 or Toll Free 1-877-632-4677 info@fronteergroup.com
www.fronteergroup.com
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