10-42
Fronteer Gold (FRG: TSX/NYSE-Amex) reports it has
intersected wide intervals of high-grade, oxide gold to the west of the
resource area at its wholly owned Long Canyon deposit, and that aggressive
step-out drilling to the northeast is well underway.
Drilling in 2010 has been largely focused in an area to the northeast of
the current resource area. However, areas along the sparsely-drilled
western edge of the resource area were also tested and are returning
intervals of higher grade and greater thickness than currently modeled. Drill
results from this western area include:
- 9.84 grams per tonne gold over 27.7 metres,
including 14.63 g/t over 17.2 metres in
LC698C;
- 3.82
g/t over 55.0 metres, in LC657C.
Highlights
from other new drilling largely throughout the northern half of the deposit
include:
- 5.23
g/t over 41.8 metres, including 15.33 g/t
over 4.0 metres in LC683C;
- 5.32
g/t over 10.4 metres, including 16.13 g/t
over 2.7 metres in LC660C;
- 2.62
g/t over 39.9 metres in LC693C;
- 2.58
g/t over 39.3 metres in LC696C;
- 2.73
g/t over 20.7 metres in LC655C.
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/LongCanyonDrillResults1042.pdf
"The robust results from drilling along and
beyond the northern and western edges of the current resource area
demonstrate the strength and ongoing growth potential of the Long Canyon
deposit," says Moira Smith, Nevada Chief Geologist for Fronteer Gold.
The Long Canyon gold deposit is open in all
directions and remains oxidized. Aggressive step-out drilling to the
northeast is now underway, with assays pending. Six drill rigs are
operating on the property and more than 70,000 metres
have been drilled to date in 2010. Drilling will extend through
winter, with an additional 10,000 metres of
drilling planned from January through March 2011.
For
a map highlighting recent drilling, please click: http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillMap1042.pdf
2011 GOALS
Long Canyon's comprehensive work program is
focused on resource definition and expansion, as well as on 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 proposed $30-million
work program for 2011 includes the near-term goals of:
- completing an updated
resource and updated Preliminary Economic Assessment in early 2011;
- undertaking 100,000 metres of exploration and development
drilling;
- initiating permitting;
- completing an additional
resource update near year-end 2011; and,
- commencing feasibility stage.
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 generally
range between 50-100% 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.
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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