Sandman Delivers More High-Grade Gold to Fronteer's Nevada Platform With 90.28 G/T Gold Over 3.47 Metres
January 25 2010 - 7:00AM
Marketwired
Fronteer (TSX: FRG)(NYSE Amex: FRG) announces today that results
provided by Newmont USA Limited ("Newmont") continue to highlight
the high-grade nature of near-surface gold mineralization at
Sandman, one of three high quality Nevada gold projects in
Fronteer's future production platform.
Work by Newmont at Sandman has focused primarily on two
near-surface gold deposits - Southeast Pediment and Silica Ridge.
Recent drilling at these two growing deposits has returned more
bonanza-grade gold intercepts with highlights as follows:
Silica Ridge:
-- 90.28 grams per tonne gold (2.633 ounces per ton) and 126.54 g/t silver
(3.691 oz/ton) over 3.47 metres in NSM-142;
-- 86.91 g/t gold (2.535 oz/ton) over 1.19 metres and 13.15 g/t gold (0.384
oz/ton) over 7.16 metres in NSM-141;
-- 20.03 g/t gold (0.584 oz/ton) over 2.99 metres in NSM-126;
-- 22.37 g/t gold (0.652 oz/ton) over 3.47 metres in NSM-123.
Southeast Pediment:
-- 52.45 g/t gold (1.53 oz/ton) over 1.01 metres, in NSM-147;
-- 9.23 g/t gold (0.269 oz/ton) over 1.22 metres in NSM-146.
"Sandman has some of the highest grade gold intercepts of any
project in our portfolio and has strong production attributes.
These results are consistent with those drilled throughout 2009 and
highlight the productive nature of this epithermal system," says
Troy Fierro, Fronteer Chief Operating Officer.
For a comprehensive table of new and previously reported drill
results, please click:
http://media3.marketwire.com/r/SandmanDrillResults1005. Results are
pending from additional holes from Newmont's 2009 work-program.
Newmont has met its annual earn-in obligations and has continued
to advance the project, completing more than 12,000 metres of
drilling since 2008. To meet its initial 51% earn-in obligations
under the agreement with Fronteer, Newmont will need to spend an
additional approx. US$6 million in ongoing drilling and development
work, and make a positive production decision by June 2011. As part
of this year's program, Newmont is preparing an expanded Plan of
Operations for 2010, which will include exploration drilling to
test up to eight new targets, ongoing development drilling and
additional geotechnical and metallurgical work.
Sandman is within trucking distance to Newmont's Twin Creeks
mine, potentially eliminating the need for a stand-alone milling
facility and other significant capital expenditures if the project
were to proceed to production.
Sandman, Long Canyon 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
its Nevada gold 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.
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
all 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 and review of portions of the data
has given him no reason to doubt their authenticity. The true width
of the mineralized zones is estimated by Fronteer to be
approximately 90% of those stated. Primary composite intervals
stated in this release 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. 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.
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. 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 and Canadian securities
laws. Such forward-looking statements, including but not limited
to, those with respect to potential expansion of mineralization,
potential size of mineralized zone, and size and timing of
exploration and development programs, estimated project capital and
other project costs and the timing of submission and receipt and
availability of regulatory approvals 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 mineral resources, changes in
project parameters as plans continue to be refined, future prices
of uranium, environmental risks and hazards, increased
infrastructure and/or operating costs, labour 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,
other than as required pursuant to applicable securities laws.
Accordingly, readers should not place undue reliance on
forward-looking statements.
NEWS RELEASE 10-05
Contacts: Fronteer Development Group Mark O'Dea, Ph.D, P.Geo
President and CEO 604-632-4677 or Toll Free 1-877-632-4677 Fronteer
Development Group Troy Fierro COO 604-632-4677 or Toll Free
1-877-632-4677 Fronteer Development Group Richard Moritz Director,
Investor Relations 604-632-4677 or Toll Free 1-877-632-4677
Fronteer Development Group Glen Edwards Director, Communications
604-632-4677 or Toll Free 1-877-632-4677 info@fronteergroup.com
www.fronteergroup.com
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