Fronteer Gold Inc.: 348-Metre Interval Grading 0.28 g/t Gold and 0.31% Copper Expands Halilaga Porphyry Deposit by Additional 15
20 Octubre 2010 - 6:00AM
Marketwired
Fronteer Gold (TSX: FRG)(NYSE Amex: FRG) announces that a new drill
hole at the Halilaga porphyry project in northwestern Turkey has
returned 348.8 metres of continuous copper-gold mineralization
starting at surface, and expanded the width of the mineralized
system by an additional 150 metres.
Drilling at Halilaga continues to report grades and widths
similar to other significant bulk-tonnage copper-gold deposits.
Assay highlights from HD-57, drilled within Halilaga's Central Zone
and starting from surface, are as follows:
-- 0.28 grams per tonne gold and 0.31% copper over 348.80 metres,
including:
-- 0.43 g/t gold and 0.55% copper over 116.10 metres starting from 7.10
metres depth, and including:
-- 0.47 g/t gold and 1.22% copper over 27.40 metres. This interval
intersects a zone of higher-grade copper-gold supergene
enrichment starting at, or near, surface and which locally
reaches up to 40 metres in thickness.
All true widths are 80-90% of reported widths unless otherwise
stated. All intervals of no sampling have been assigned zero grade
for the purposes of compositing. Composites were calculated at 0.5,
1.0 and 2.0 gold equivalent cut-offs using $1000/oz gold and
$3.00/lb copper. For a comprehensive table of drill results to
date, please click:
http://www.fronteergold.com/sites/files/fronteer_admin/HalilagaDrillResults1034.pdf
Porphyry copper-gold deposits are an increasingly important part
of global gold production because of their size, long mine life and
strong cash-flow potential. Halilaga represents an important new
discovery in this deposit class.
HD-57 is situated on the same cross-section as
northerly-directed hole HD-54 (See Aug. 25, 2010, press release,
"Emerging copper-gold porphyry returns 646.50 metres of continuous
copper-gold mineralization"). HD-57 was drilled to the south at -50
degrees to test the limit of copper-gold porphyry mineralization
beneath a prominent topographic high with outcropping silica
alteration and high sulphidation-style gold mineralization.
Drilling in 2010 has almost doubled the overall width of
copper-gold mineralization at Halilaga's Central Zone. Previously
reported drilling increased the width from 400 metres to 600
metres. HD-57 and HD-54 now demonstrate an additional increase of
150 metres to more than 750 metres in overall width, and over a
strike length of 1,200 metres with thicknesses ranging over 600
metres. The Central Zone remains open to expansion in all
directions. Additional assays are pending.
For a cross-section, please click:
http://www.fronteergold.com/sites/files/fronteer_admin/HalilagaCrossSection1034.pdf
Halilaga is accessible by road; situated in favourable terrain;
and surrounded by excellent infrastructure. Preliminary
metallurgical work shows copper and gold are effectively recovered
using a simple, open-circuit flotation flow-sheet. A final
concentrate grade of 35-40% copper with 85-90% overall copper
recovery was achievable using three stages of cleaning. Gold grades
in the final concentrate were approximately 25 grams per tonne with
overall gold recovery in the range of 65-70%.
Fronteer Gold anticipates completing the first resource estimate
for the project by Q1-2011, dependent on sufficient drilling being
completed.
Teck Resources Limited's Turkish subsidiary, ("TMST") is
Fronteer Gold's 60% joint venture partner and project operator.
There are currently three core rigs and one RC rig operating as
part of a $2.7 million drill program, funded 60%/40% by TMST and
Fronteer Gold. The program includes 10,000 metres of core drilling,
with 8,500 metres of drilling planned for the Central Zone, and the
remainder planned for regional porphyry targets through the
property. This program is currently 60% complete.
Drill samples and analytical data for Halilaga are collected
under the supervision of TMST, Fronteer Gold's joint venture
partner and project operator, using industry standard QA-QC
protocols. Ian Cunningham-Dunlop, P. Eng, Vice President
Exploration for Fronteer Gold, 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 TMST has given him no reason to doubt their authenticity. For
further details on Halilaga, please view the NI 43-101 technical
report entitled "NI 43-101 Technical Report on the Halilaga
Exploration Property, Canakkale, Western Turkey", dated March 30,
2009, prepared by Peter Grieve, of Geology and Resource Solutions
Limited, 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. 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 copper, 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 10-34
Contacts: Fronteer Gold Inc. Mark O'Dea President & CEO
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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