VanEck Vectors Global Alternative Energy ETF

Published : August 19th, 2008

discovers new high-grade gold zone at Long Canyon, Nevada

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

August 19, 2008

Fronteer discovers new high-grade gold zone at Long Canyon, Nevada

08-19

Fronteer Development Group Inc. ("Fronteer" or the "Company") (FRG - TSX/AMEX) is pleased to announce the discovery of a new zone of high-grade gold mineralization at its Long Canyon Project in Nevada.

Results from Long Canyon's 2008 work program confirm the presence of a parallel zone of mineralization, referred to as the Shadow Zone, located approximately 200 metres to the northwest of the previously reported main mineralized zone. Drill results from the new Shadow Zone have returned 7.74 grams per tonne gold (0.226 oz/ton) over 22.9 metres (75 feet), including 12.44 g/t (0.363 oz/ton) over 12.2 m (40 feet) in hole LC092.

Gold mineralization has been intersected in multiple, parallel zones over a strike length of more than 1,200 metres (3,900 feet) and remains open in all directions.

Other drill highlights include:

  • 2.39 g/t (0.070 oz/ton) over 24.4 m (80 feet) in LC099;
  • 5.29 g/t (0.154 oz/ton) over 5.2 m (17.2 feet) in LC072C, including 15.21 g/t (0.444 oz/ton) over 0.9 m (3.0 feet);
  • 2.53 g/t (0.074 oz/ton) over 7.6 m (25 feet) in LC098.

Drilling has now commenced on 50-metre spaced holes in the Shadow Zone to test for extensions of  mineralization to the northeast and southwest of LC092 and LC094.

LONG CANYON DRILL RESULTS

 

 

 

Intercept

 

 

 

 

Intercept

 

Hole ID

From

To

Length

Au

Au

From

To

Length

Au

 

(feet)

(feet)

(feet)

(ppb)

(oz/ton)

(metres)

(metres)

(metres)

(g/t)

 

 

 

 

 

 

 

 

 

 

LC072C

137.8

155.0

17.2

5290

0.154

42.0

47.2

5.2

5.29

including

145.0

148.0

3.0

15210

0.444

44.2

45.1

0.9

15.21

LC074C

130.0

144.2

14.2

2122

0.062

39.6

44.0

4.3

2.12

LC076C

 

No reportable intercepts

 

 

 

 

 

 

 

LC092

70.0

145.0

75.0

7739

0.226

21.3

44.2

22.9

7.74

including

75.0

115.0

40.0

12439

0.363

22.9

35.1

12.2

12.44

LC094

245.0

255.0

10.0

570

0.017

74.7

77.7

3.0

0.57

and

280.0

300.0

20.0

1114

0.033

85.4

91.5

6.1

1.11

LC096

 

No reportable intercepts

 

 

 

 

 

 

 

LC098

680.0

705.0

25.0

2531

0.074

207.3

214.9

7.6

2.53

including

680.0

685.0

5.0

8410

0.246

207.3

208.8

1.5

8.41

LC099

560.0

640.0

80.0

2389

0.070

170.7

195.1

24.4

2.39

including

615.0

620.0

5.0

5610

0.164

187.5

189.0

1.5

5.61

and

690.0

710.0

20.0

802

0.023

210.4

216.5

6.1

0.80

*The geometry of mineralization at Long Canyon is still being determined. The current geological model predicts that the true widths of the mineralized intervals vary between 70-100% of the reported lengths of the drill intercepts.

To date, more than 112 holes have been drilled at Long Canyon. For a comprehensive table listing reported drill results, please use the following link: http://www.fronteergroup.com/sites/fronteer_admin/LongCanyonDrillSummary0819.pdf

Ongoing drilling and detailed mapping continue to contribute to a deeper understanding of the distribution of, and controls for, gold mineralization at Long Canyon. Gold mineralization is strongly oxidized and begins at surface. Mineralization is typical of Carlin-style deposits and occurs in stratabound zones with both fault and collapse breccias, hosted within a sequence of lower Paleozoic carbonates. The deposit is comprised of at least six linear and parallel, northeast-trending mineralized shoots. The northeastern extension of the previously reported Main Zone is now referred to as the Northeast Zone. To view the new model showing Long Canyon's Shadow Zone, as well as the location of recent drill holes, please use the following link:
www.fronteergroup.com/sites/fronteer_admin/LongCanyonMap08019.jpg

Fronteer's initial $3.2-million program to advance Long Canyon includes plans for 11,500-metres (37,700 feet) of drilling to extend the deposit along strike to the northeast, southwest, and down dip, with the goal of producing a project-first NI 43-101 resource estimate upon conclusion of the program.  Fronteer has completed 7,500 metres (24,600 feet) of drilling through 2008.

Fronteer has submitted a Plan of Operations to the Elko District Office of the U.S. Bureau of Land Management (BLM) to expand the drilling effort in the southwest portion of the Long Canyon project area.

Long Canyon is under option from AuEx Ventures Inc. Under the terms of the option, Fronteer is the operator and may earn a majority interest (51%) by investing $5 million over a five-year period. Fronteer may earn an additional 14% by advancing Long Canyon through feasibility. Fronteer is expected to vest its 51% interest within the next few months. 

Robert Felder, M.Sc. and Certified Professional Geologist, as recognized by the American Institute of Professional Geologists, is designated as a Qualified Person for these Long Canyon drill results, with the ability and authority to verify the authenticity of, and validity of, this data. Drill composites were calculated using a cut-off of 0.30 g/tonne.  Drill intersections are reported as drilled thicknesses. Reverse circulation cuttings were sampled on 5.0 ft. (1.52m) intervals and core was sampled at geologically selected intervals.  All drill samples were assayed by American Assay Laboratories (ISO9002:2002) in Reno, Nevada, for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 10.0 grams per tonne Au 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 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.

LIQUIDITY
Fronteer is not invested in any short-term commercial paper or asset-backed securities. Fronteer has approximately C$91 million in cash that is fully liquid and held with a large Canadian commercial bank.

ABOUT FRONTEER
Fronteer is an exploration and development company with a track record of making big discoveries. Fronteer has a 40% interest in three gold and copper-gold projects in western Turkey, an extensive portfolio of advanced stage gold projects in Nevada, and a 42.2% interest in Aurora Energy Resources (TSX - AXU), a leading Canadian uranium company.  For further information on Fronteer visit www.fronteergroup.com or contact:

Mark O'Dea, Ph.D, P.Geo President and CEO
Richard Moritz, Director, Investor Relations
Glen Edwards, Director, Communications
Phone 604-632-4677 or Toll Free 1-877-632-4677
info@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. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, potential size of mineralized zone, timing of resource calculation 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 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'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. Accordingly, readers should not place undue reliance on forward-looking statements.

FRG - TSX �2008 Fronteer Development Group | fronteergroup.com
FRG - AMEX Suite 1650, 1055 West Hastings, Vancouver, BC V6E 2E9
Data and Statistics for these countries : Turkey | All
Gold and Silver Prices for these countries : Turkey | All

VanEck Vectors Global Alternative Energy ETF

DEVELOPMENT STAGE
CODE : FRG.TO
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Fronteer Gold is a gold exploration company based in Canada.

Fronteer Gold develops gold and uranium in Canada, and holds various exploration projects in Canada, in Mexico and in Turkey.

Its main assets in development are MICHELIN (UNDERGROUND) and MICHELIN (OPEN PIT) in Canada and its main exploration properties are GROUSE CREEK, OLYMPIC, REEF, BUFFALO CANYON, GOLD SPRINGS, DIXIE LAKE, RAINBOW PROJECT, INDA LAKE, SANDMAN, JACQUES LAKE (UNDERGROUND), JACQUES LAKE (OPEN PIT), NASH, INDA, GEAR, INDA - UNDERGROUND, INDA - OPEN PIT, GEAR - UNDERGROUND, GEAR - OPEN PIT and KLONDIKE NORTH in Canada, SANTA CRUZ PROJECT, PASCO CANYON and ROSE MINE in Argentina, BUNCE, FIREBALL RIDGE, GREEN MONSTER, HAYS CANYON, JPW, WEST PEQUOP, HALILAGA, TRINITY SILVER, AGI DAGI - DELI ZONE, LONG CANYON, NORTHUMBERLAND, AGI DAGI, YUNTDAG and HUM in Turkey, BAZA, ARABIA, GYPSUM VALLEY, PEQUOP SOUTH, LENOID and SINTER in Spain and SWISS BANK in Mexico.

Fronteer Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is 701.2 millions as of today (US$ 728.5 millions, € 503.2 millions).

Its stock quote reached its lowest recent point on December 31, 2004 at 0.30, and its highest recent level on April 08, 2011 at 14.78.

Fronteer Gold has 47 442 200 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of VanEck Vectors Global Alternative Energy ETF
2006 Annual report
Financials of VanEck Vectors Global Alternative Energy ETF
3/29/2011reports year-end results
8/12/2010Gold Reports Strong Second Quarter Financial Results and Sig...
5/12/2010Continues to report strong financial results and advancement...
11/16/2009reports third quarter results
8/14/2009reports second quarter and first half 2009 results
11/14/2008reports third quarter results
8/14/2008reports second quarter results
5/14/2008reports first quarter 2008 results
Project news of VanEck Vectors Global Alternative Energy ETF
1/12/2011(Long Canyon)reports interim resource estimate for Long Canyon gold depos...
1/18/2011(Long Canyon)Step-Out Drilling at Long Canyon Expands Deposit by 200 Metr...
8/18/2010Drilling along northern extension intersects 44.2 metres of ...
8/9/2010(Northumberland)Gold continues to intersect high-grade gold at Northumberlan...
8/3/2010(Northumberland)Second high-grade zone returns 7.10 g/t gold over 37.4 metre...
7/20/2010(Long Canyon)Drilling Along Northern Extension of Deposit Intersects 64 M...
6/21/2010(Sandman)Drilling hits 2.35 ounces/ton gold and 33.18 ounces/ton silv...
6/9/2010(Long Canyon)Drilling returns 16.4 g/t gold over 21.2 metres
6/7/2010(Sandman)New high-grade drill results and expanded Plan of Operations
5/19/2010(Long Canyon)New resource estimate
4/14/2010(Halilaga)Drilling returns 308 metres of 0.34 g/t gold and 0.30% coppe...
4/5/2010(Halilaga)Reports metallurgical results and 2010 work-program
3/25/2010(Sandman)Near-surface oxide gold intercepts highlight open-pit potent...
3/5/2010(Sandman)Drilling returns 1.23 ounces per ton gold over 24.8 feet at ...
3/1/2010(Northumberland)Initial Northumberland metallurgical testing reports gold re...
2/22/2010(Halilaga)New drilling expands Halilaga copper-gold porphyry in northw...
2/18/2010(Northumberland)Drilling further defines high-grade gold
2/2/2010(Long Canyon)Drilling returns 3.94 grams per tonne gold over 77.7 metres ...
1/25/2010(Sandman)Sandman delivers more high-grade gold to Fronteer's Nevada p...
1/11/2010(Sandman)Sandman gold project on track to potential production decisi...
1/6/2010(Agi Dagi)& Teck complete the sale of the Agi Dagi & Kirazli gold proj...
12/21/2009(Long Canyon)Drilling advancing Long Canyon gold deposit to feasib ility
12/9/2009(Northumberland)Drilling highlights large high-grade zone at Northumberland ...
12/4/2009(Michelin (open Pit))Independent study: Michelin Uranium Project to generate regi...
12/1/2009(Long Canyon)Preliminary economic assessment for Long Canyon Project gene...
10/5/2009(Long Canyon)Long Canyon extends 100 metres to the north, returning 6.57 ...
10/1/2009(Long Canyon)Step-out drilling at Long Canyon extends gold mineralization...
9/17/2009(Long Canyon)Long Canyon deposit expansion ramps up: step-out drilling re...
8/20/2009(Long Canyon)provides global update on its development-stage gold pro jec...
8/12/2009(Long Canyon)Emerging zone returns more wide intervals of gold at Long Ca...
8/5/2009(Sandman)High-grade gold intersected in footwall zone of Sandman gold...
7/16/2009(Northumberland)initiates permitting for underground access at Northumbe rla...
6/30/2009(Long Canyon)Metallurgical drilling returns 4.15 grams per tonne gold ove...
6/23/2009(Jacques Lake)reports 87.5% uranium recovery from Aurora's pilot plant te...
6/16/2009(Sandman)Ongoing work-program underlines strong production potential ...
6/11/2009(Long Canyon)Long Canyon column-leach tests return gold recoveries averag...
6/1/2009(Sandman)Sandman gold project returns 25.58 grams per tonne gold over...
1/26/2009(Long Canyon)Drilling returns 5.32 grams per tonne gold over 25.4 metres ...
1/19/2009(Agi Dagi - Deli Zone)Discovery of additional gold zone underlines open-ended pote...
12/29/2008(Long Canyon)Drilling returns 9.03 grams per tonne gold over 25.8 metres ...
12/23/2008(Halilaga)Regional drilling at Halilaga intersects new areas of coppe...
12/8/2008Shallow drilling demonstrates high-grade nature of mineraliz...
11/20/2008(Northumberland)Drilling strengthens continuity at Fronteer's Northumberland...
11/18/2008(Long Canyon)Drilling continues to extend gold mineralization at Long Can...
11/12/2008(Agi Dagi - Deli Zone)JV update: Drilling begins at Agi Dagi gold project
9/29/2008(Long Canyon)Drilling extends strike 400 metres at Fronteer's Long Canyon...
9/24/2008(Long Canyon)Earns Majority Interest in Long Canyon Gold Project, Nevada
9/11/2008(Long Canyon)Drilling, road building unearth more near-surface gold at Fr...
8/19/2008(Long Canyon)discovers new high-grade gold zone at Long Canyon, Nevada
8/9/2008(Northumberland)reclassifies Northumberland resource ounces
7/29/2008(Long Canyon)hits more high-grade gold at Nevada property
6/5/2008(Northumberland)Northumberland gold deposit increases in size and significan...
3/11/2008(Labrador Iocg)Nunatsiavut government considers proposed change
2/15/2008(Long Canyon)Drilling extends strike of high-grade gold at Nevada propert...
Corporate news of VanEck Vectors Global Alternative Energy ETF
4/7/2011Announces Completion of Acquisition by Newmont
3/20/2011ISS Proxy Advisory Services and Glass Lewis & Co. Recommend ...
2/1/2011completes sale of uranium assets to Paladin Energy
1/24/2011reports objectives, work plan and budget for 2011
6/28/2010Provides mid-year update on advancement of its key gold proj...
4/26/2010expands gold portfolio in Nevada with acquisition ...
3/29/2010Strong year-end results
1/6/2010Exceptional gold intercepts expand mineralization at Long Ca...
12/9/2009Agreement signed for the sale of the Agi Dagi and Kirazli go...
9/24/2009and Teck announce proposed sale of projects to Alamos
6/10/2009to subscribe for six million units of East Asia Minerals
6/2/2009grants option to International Enexco on Loomis gold pro per...
3/3/2009acquires additional shares and now owns 92.1% of Aurora Ener...
1/23/2009launches formal bid for Aurora Energy Resources Inc.
12/22/2008announces intention to acquire Aurora Energy Resources I nc.
11/5/2008hits more gold 'off-trend' in Nevada's Eastern Great Basin
6/18/2008finalizes Newmont deal to fast-track Nevada gold project to ...
4/18/2008 to hold Annual General Meeting in Toronto, May 6
4/8/2008Nunatsiavut Government's three-year moratorium to allow uran...
3/28/2008 reports fiscal 2007 results
3/25/2008's global exploration program aims to double gold resource b...
2/25/2008's Aurora exceeds annual resource target, adds four projects
4/5/2007Closes C$5,870,500 Over-Allotment Option
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (FRG.TO)AMEX (FRG)
14.78+0.07%29.88+0.10%
TORONTO
CA$ 14.78
04/08 16:38 0.010
0.07%
Prev close Open
14.77 14.71
Low High
14.71 14.84
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  14.78 -%
Volume 1 month var.
5,867,254 -%
24hGold TrendPower© : 34
Produces
Develops Uranium
Explores for Copper - Gold - Indium - Silver - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/19/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
error

 

 

THE REQUESTED URL IS UNCORRECT

VanEck Vectors Global Alternative Energy ETF profile | VanEck Vectors Global Alternative Energy ETF news | VanEck Vectors Global Alternative Energy ETF market Indicators | VanEck Vectors Global Alternative Energy ETF projects and resources | VanEck Vectors Global Alternative Energy ETF valuation | Go to VanEck Vectors Global Alternative Energy ETF properties | VanEck Vectors Global Alternative Energy ETF corporate presentation | VanEck Vectors Global Alternative Energy ETF annual report | VanEck Vectors Global Alternative Energy ETF management | VanEck Vectors Global Alternative Energy ETF interactive charts | VanEck Vectors Global Alternative Energy ETF free charts | VanEck Vectors Global Alternative Energy ETF TORONTO | VanEck Vectors Global Alternative Energy ETF AMEX | VanEck Vectors Global Alternative Energy ETF FRANKFURT
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !