10-40
Fronteer Gold (FRG: TSX/NYSE-Amex) reports that
ongoing drilling continues to return wide intervals of high-grade oxide
gold at its wholly owned Long Canyon deposit, located in northeastern
Nevada.
New results, largely focused to the northeast of
the current resource area, include:
- 13.77 grams per tonne gold over 21.3 metres,
including 23.72 g/t over 10.4 metres in
LC633C;
- 5.77 g/t over 34.7 metres, including 34.3 g/t over 2.4 meters; and
5.23 g/t over 13.3 metres in LC631C;
- 4.18 g/t over 59.1 metres in LC598C;
- 5.81 g/t over 30.2 metres in LC600C;
- 4.54 g/t over 28.3 metres in LC646C;
- 3.29 g/t over 43.4 metres in LC629C.
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 generally range between 50-100% 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 from 2010, including new and non-reportable intercepts,
please click:
http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillResults1040.pdf
Drilling
in the southern part of the deposit has also returned wide intervals of
oxide gold mineralization, including 1.06 g/t gold over 21.3 metres (LC619), highlighting additional areas of
deposit growth.
The Long Canyon gold deposit is open in all
directions and remains oxidized. Aggressive step-out drilling to the
northeast is now underway. Six drill rigs are operating on the property and
approximately 70,000 metres have been drilled to
date in 2010. Drilling will extend through winter, with an additional
10,000 metres planned for December through to
March 2011.
For
a map highlighting recent drilling, please click: http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillMap104X.pdf
2011 GOALS
Fronteer Gold is well-funded to advance Long Canyon on a
100% basis as we move the project through development. Long Canyon's
comprehensive work program is focused on resource definition and expansion,
as well as the metallurgical, engineering, and environmental work necessary
to move the project to feasibility stage. Significant water and
private-surface rights for mine development have already been secured. A
planned $25 million work program for 2011 includes the near-term goals of:
- completing an updated
resource and updated Preliminary Economic Assessment in early 2011;
- undertaking 75,000 metres of exploration and development
drilling;
- initiating permitting;
- completing an additional
resource update near year-end 2011; and,
- commencing feasibility stage.
ABOUT FRONTEER
GOLD
We intend to become a significant gold producer.
Our future potential production platform includes our Long Canyon, Sandman
and Northumberland projects - all located in Nevada. We also have a
40% interest in Halilaga, an emerging copper-gold
porphyry deposit in northwestern Turkey, and 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 or contact:
Mark
O'Dea, President & CEO
Patrick Reid, Senior Director, Institutional Marketing
Phone 604-632-4677 or Toll Free 1-877-632-4677
info@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, 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.
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