Fronteer Gold Inc.: New High-Grade Drill Results and Expanded Plan of Operations for Sandman Gold Project, Nevada
June 07 2010 - 8:52AM
Marketwired
Fronteer Gold (TSX: FRG)(NYSE Amex: FRG) reports new high-grade
drill results from Silica Ridge, one of four gold deposits that
comprise our Sandman project, and announces approval of an expanded
Plan of Operations for the Nevada property.
Newmont USA Limited, as project operator, completed a 19-hole
drill program at Silica Ridge in April. Results received from the
first five holes show continued intersection of high-grade oxide
gold mineralization. Highlights include:
-- 15.00 grams per tonne gold (0.438 ounces per ton) and 22.19 g/t silver
(0.647 oz/ton) over 3.60 metres, including 43.87 g/t gold (1.280 oz/ton)
and 51.50 g/t silver (1.502 oz/ton) over 1.13 metres, in NSM-172.
-- 16.33 g/t gold (0.476 oz/ton) and 18.41 g/t silver (0.537 oz/ton) over
1.52 metres, in NSM-168.
-- 2.47 g/t gold (0.072 oz/ ton) and 11.00 g/t silver (0.321 oz/ton) over
5.76 metres, including 13.94 g/t gold (0.407 oz/ton) and 27.91 g/t
silver (0.814 oz/ton) over 0.58 metres, in NSM-174.
-- 9.20 g/t gold (0.268 oz/ ton) and 11.23 g/t silver (0.327 oz/ton) over
1.10 metres, in NSM-165.
For a comprehensive table of new and previously reported drill
results, please click:
http://www.fronteergold.com/sites/files/fronteer_admin/SandmanDrillResults1018.pdf.
The Winnemucca Bureau of Land Management recently approved a new
Exploration Plan of Operations for the Sandman property,
significantly increasing the area permitted for exploration and
development work from two square miles to 39 square miles. This
allows for work to be carried out beyond the Silica Ridge and
Southeast Pediment deposits, which have been the primary focus for
Newmont to date because of disturbance restrictions in the original
BLM Notices. Newmont will commence exploration work in early June
to test up to eight new high-priority targets identified through
geophysical surveys completed in 2008 and 2009. The ongoing
development drilling program will focus on the known North Hill
deposit, which will receive infill drilling and metallurgical test
work, as well as further step-out drilling at the Southeast
Pediment deposit.
Newmont continues to meet earn-in obligations and can elect to
make a positive production decision by June 2011 to earn a 51%
interest in Sandman. Thereafter, Newmont may earn an additional 9%
interest by spending a further US$9 million on development.
All known deposits at Sandman, like the historical Sleeper mine
to the north, are epithermal in origin and have high-grade gold
mineralization hosted within zones of quartz-adularia replacement
associated with faults and breccias. The deposits are also
silver-bearing, with composite grades averaging approximately half
an ounce silver per ton (see table).Silver could be an important
economic attribute of this mineralized system, potentially
providing by-product credits to effectively reduce cash costs of
any future gold production.
The Sandman Property's four known high-grade gold deposits are
located within trucking distance to Newmont's Twin Creeks mine,
potentially eliminating the need for a stand-alone milling facility
and other significant capital expenditures. Given Sandman's
proximity to established infrastructure, Fronteer Gold believes
Sandman has the potential to be the nearest term production-stage
project within the company's large Nevada gold platform.
Drill samples and analytical data for the Sandman project are
being collected under the supervision of Newmont, using industry
standard QA-QC protocols. Fronteer Gold'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 are consistent with Fronteer Gold's past
results on the project. Correspondence with the operator and review
of portions of the data, has given him no reason to doubt the
results authenticity. The true width of the mineralized zones is
estimated by Fronteer Gold 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 GOLD
We intend to become a significant gold producer. Our solid
financial position and strong 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. Fronteer Gold
aims to build regional production by advancing these projects
sequentially over the near-term using existing cash resources -
funding the company's growth with low-risk of dilution. For further
information on Fronteer Gold visit www.fronteergold.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 Gold 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 Gold's Annual
Information form and Fronteer Gold's latest Form 40-F on file with
the United States Securities and Exchange Commission in Washington,
D.C. Although Fronteer Gold 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 Gold 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 10-18
Contacts: Fronteer Gold Inc. Mark O'Dea President & CEO
604-632-4677 or Toll Free 1-877-632-4677 Fronteer Gold Inc. Troy
Fierro COO 604-632-4677 or Toll Free 1-877-632-4677 Fronteer Gold
Inc. Sean Tetzlaff CFO 604-632-4677 or Toll Free 1-877-632-4677
Fronteer Gold Inc. John Dorward VP, Business Development
604-632-4677 or Toll Free 1-877-632-4677 Fronteer Gold Inc. Glen
Edwards Director, Communications 604-632-4677 or Toll Free
1-877-632-4677 info@fronteergold.com www.fronteergold.com
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