Fronteer (TSX: FRG)(NYSE Amex: FRG) announces today that drilling
by Newmont USA Limited ("Newmont"), a wholly owned subsidiary of
Newmont Mining Corporation, has intersected additional
bonanza-grade, near-surface oxide gold at Sandman, one of three
high-quality Nevada gold projects in Fronteer's future production
platform.
Newmont has provided drill results from six holes at Sandman's
Silica Ridge deposit. Hole NSM-137, starting at a depth of 20
metres, returned:
- 42.28 grams per tonne gold (1.23 ounces per ton) over 7.56
metres (24.8 feet), including 98.24 g/t gold (2.86 oz/ton) over
2.65 metres; and
- 26.52 g/t gold (0.77 oz/ton) over 0.61 metres.
The remaining five holes provided by Newmont all intersected
oxide gold mineralization starting within 15 metres of surface,
including:
- 1.36 g/t gold (0.04 oz/ton) over 7.25 metres in NSM-125;
- 1.43 g/t gold (0.04 oz/ton) over 11.09 metres, in NSM-130.
Importantly, the high-grade style of gold intersected in NSM-137
is a consistent component of the mineralization at Sandman,
reinforcing the high-quality nature of this epithermal system.
Specifically, since Newmont began drilling at Sandman in 2008, 24%
of all holes (26 out of 110) have returned intercepts of greater
than 10 g/t gold over more than 1.0 metres. By way of example, some
of these intercepts, which have been previously published, are
tabulated below.
--------------------------------------------------------------------
From To Intercept Au
Hole ID (metres) (metres) (metres) Au (g/t) (oz/ton) Ag (g/t)
--------------------------------------------------------------------
NSM-57 24.78 27.13 2.35 139.03 4.06 47.58
--------------------------------------------------------------------
NSM-69 38.01 39.96 1.95 120.75 3.52 20.39
--------------------------------------------------------------------
NSM-142 57.79 61.26 3.47 90.28 2.63 126.54
--------------------------------------------------------------------
NSM-141 47.15 48.34 1.19 86.91 2.53 67.89
--------------------------------------------------------------------
NSM-55 29.60 31.46 1.86 72.36 2.11 48.16
--------------------------------------------------------------------
NSM-147 12.92 13.93 1.01 52.45 1.53 34.11
--------------------------------------------------------------------
NSM-148 31.76 32.77 1.01 50.55 1.47 2,067.45
--------------------------------------------------------------------
NSM-53 32.58 34.53 1.95 65.69 1.92 57.97
--------------------------------------------------------------------
NSM-110 17.86 20.48 2.62 32.14 0.94 42.92
--------------------------------------------------------------------
NSM-44 37.06 38.89 1.83 29.17 0.85 8.68
--------------------------------------------------------------------
NSM-51 118.57 120.64 2.07 28.90 0.84 69.31
--------------------------------------------------------------------
The true width of the mineralized zones is estimated to be
approximately 90% of those stated. Drill composites were calculated
using a cut-off of 2.0 g/t.
For a comprehensive table of new and previously reported drill
results, please click (note: due to the length of the URL, you may
need to copy and paste it into your internet browser):
http://www.fronteergroup.com/sites/files/fronteer_admin/SandmanDrillResults1010.pdf
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. 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.
Northumberland, Sandman and Long Canyon comprise Fronteer's
future production platform based in Nevada. All three gold deposits
have high-grade gold starting at- or near-surface, are potentially
open-pit mineable and have encouraging 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.
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 10-10
Contacts: Fronteer Mark O'Dea, Ph.D, P.Geo President and CEO
604-632-4677 or Toll Free: 1-877-632-4677 Fronteer Troy Fierro COO
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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