Fronteer Builds Additional High-Grade Gold at Long Canyon With 10.46 g/t Gold Over 39.3 Metres
November 08 2010 - 7:00AM
Marketwired
Fronteer Gold (TSX: FRG)(NYSE Amex: FRG) announces that ongoing
drilling to the northeast of the current resource area continues to
intersect wide intervals of high-grade gold at its wholly owned
Long Canyon gold project in Nevada. Fronteer Gold recently
completed the acquisition of AuEx Ventures, thereby consolidating
100% ownership of its flagship Long Canyon project and creating a
dominant position in the emerging Pequop Gold District.
"The Long Canyon deposit is the type of foundational asset upon
which major mining companies have historically been built. Long
Canyon is viewed a 'company-maker' for Fronteer Gold, with its
combination of high grades, simple metallurgy, resource upside and
favourable jurisdiction. We are well funded to advance Long Canyon
on a 100% basis as we push forward on our development timeline,"
says Fronteer Gold President and CEO, Mark O'Dea.
Six drill rigs are currently operating as part of the year's
ongoing 70,000-metre program. New results include:
-- 10.46 g/t gold over 39.3 metres, including 16.72 g/t gold over 15.2
metres in LC556C;
-- 6.35 g/t gold over 38.1 metres, including 10.59 g/t gold over 16.9
metres in LC548C;
-- 5.15 g/t gold over 42.7 metres in LC541C;
-- 5.29 g/t gold over 33.2 metres, including 20.23 g/t gold over 5.2 metres
in LC557C;
-- 3.14 g/t gold over 46.3 metres, including 13.30 g/t gold over 9.8 metres
in LC564C;
-- 6.38 g/t gold over 17.1 metres in LC561C;
-- 5.28 g/t gold over 13.0 metres, including 18.34 g/t gold over 2.7 metres
in LC547C;
-- 8.42 g/t gold over 6.1 metres, including 34.3 g/t gold over 1.2 metres
in LC555C.
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 30-100% of
the reported lengths. Intervals less than 1 g/t are not reported in
this press-release table. "C" indicates a core hole. For a PDF of
comprehensive drill results, including new and non-reportable
intercepts, please click:
http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillResults1037.pdf
This new drilling, concentrated to the northeast of the current
resource area, further defines a thick, high-grade zone with broad
lateral continuity along a recently recognized east-northeast
trend. For a cross-section showing the geometry described above,
please click:
http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonCrossSection1037.pdf
For a map highlighting the location of the cross-section and
other new drilling, please click:
http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillMap1037.pdf
THE NEAR-TERM PROGRAM
Fronteer Gold is efficiently advancing the project toward
production. A $20-$25 million development/exploration program is
planned for 2011, including near-term goals of:
-- an updated resource and Preliminary Economic Assessment in early 2011;
-- 75,000 metres of exploration and development drilling;
-- initiating permitting;
-- an additional resource update near year-end 2011; and,
-- commencing feasibility stage.
BOARD APPOINTMENT
Fronteer Gold welcomes Ronald L. Parratt to our Board of
Directors. Mr. Parratt was formerly President and CEO of AuEx
Ventures and currently President and CEO of Renaissance Gold. Mr.
Parratt brings a wealth of exploration and development experience
in Nevada to the board.
ABOUT FRONTEER GOLD
We intend to become a significant gold producer. Our financial
strength and solid operational team give us the ability to advance
our key gold projects 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. Additionally,
we have 100% ownership of Aurora Energy Resources Inc, developer of
one of the world's largest uranium deposits, based in Labrador,
Canada. For further information on Fronteer Gold visit
www.fronteergold.com.
Moira Smith, P. Geo., Nevada Chief Geologist for Fronteer Gold,
is the company's designated Qualified Person for this news release
and has reviewed and validated that the information contained in
the release accurate. 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 30-100% 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.
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, 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, 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 10-37
Contacts: Fronteer Gold Inc. Mark O'Dea President & CEO
604-632-4677 or Toll Free 1-877-632-4677 Fronteer Gold Inc. Patrick
Reid Senior Director, Institutional Marketing 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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