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Published : July 29th, 2008

hits more high-grade gold at Nevada property

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July 29, 2008

Fronteer hits more high-grade gold at Nevada property

08-16

Fronteer Development Group Inc. ("Fronteer" or the "Company") (FRG - TSX/AMEX) is pleased to announce that recent drilling has extended the length and width of gold mineralization at Long Canyon, further enhancing this property.

Results from 18 reverse-circulation (RC) holes include grades as high as 17.63 grams per tonne gold (0.515 ounces per ton) over 4.6 m (15 feet), as intersected in hole LC87. The results are the first from Long Canyon's 2008 work program, which commenced in May.

Other highlights include:

  • 10.21 g/t (0.298 oz/ton) over 9.1 m (30 feet), within a broader zone returning 3.31 g/t (0.097 oz/ton) over 36.6 m (120 feet) in hole LC86;
  • 12.59 g/t (0.368 oz/ton) over 4.6 m (15 feet), within a broader zone returning 4.59 g/t (0.134 oz/ton) over 38.1 m (125 feet) in hole LC85; and,
  • 14.13 g/t (0.413 oz/ton) over 3.0 m (10 feet), within a broader zone returning 4.53 g/t (0.132 oz/ton) over 10.7 m (35 feet) in hole LC84

Drilling has also intersected a new area of gold mineralization located 200 metres northwest of the main zone. Highlights include:

  • 2.28 g/t (0.067 oz/ton) over 24.4 m (80 feet) in LC73; and,
  • 1.18 g/t (0.034 oz/ton) over 3.0 m (10 feet) in LC79.

Results from an additional 23 holes drilled to date will be reported as completed assays are received.

LONG CANYON DRILL RESULTS

 

 

 

Intercept

 

 

 

 

Intercept

 

Hole ID

From

To

Length

Au

Au

From

To

Length

Au

 

 

 

(feet)

(ppb)

(oz/ton)

 

 

(metres)

(g/t)

LC068

205

215

10

346

0.010

62.5

65.5

3.0

0.35

 

255

265

10

936

0.027

77.7

80.8

3.0

0.94

LC069

 

No reportable intercepts

 

 

 

 

 

 

 

LC070

230

245

15

562

0.016

70.1

74.7

4.6

0.56

 

250

340

90

1633

0.048

76.2

103.7

27.4

1.63

including

300

310

10

7165

0.209

91.5

94.5

3.0

7.17

 

445

455

10

424

0.012

135.7

138.7

3.0

0.42

 

490

510

20

382

0.011

149.4

155.5

6.1

0.38

LC071

85

115

30

753

0.022

25.9

35.1

9.1

0.75

 

135

165

30

986

0.029

41.2

50.3

9.1

0.99

LC073

305

315

10

383

0.011

93.0

96.0

3.0

0.38

 

345

355

10

350

0.010

105.2

108.2

3.0

0.35

 

370

450

80

2280

0.067

112.8

137.2

24.4

2.28

including

375

380

5

6744

0.197

114.3

115.9

1.5

6.74

 

395

400

5

9468

0.276

120.4

122.0

1.5

9.47

 

460

470

10

388

0.011

140.2

143.3

3.0

0.39

 

520

530

10

439

0.013

158.5

161.6

3.0

0.44

LC075

360

375

15

734

0.021

109.8

114.3

4.6

0.73

LC077

 

No reportable intercepts

 

 

 

 

 

 

 

LC078

 

No reportable intercepts

 

 

 

 

 

 

 

LC079

650

660

10

1178

0.034

198.2

201.2

3.0

1.18

LC081

260

325

65

2271

0.066

79.3

99.1

19.8

2.27

including

280

295

15

6190

0.181

85.4

89.9

4.6

6.19

 

345

385

40

4294

0.125

105.2

117.4

12.2

4.29

including

365

375

10

12945

0.378

111.3

114.3

3.0

12.95

LC082

335

350

15

650

0.019

102.1

106.7

4.6

0.65

LC084

330

365

35

4526

0.132

100.6

111.3

10.7

4.53

including

340

350

10

14130

0.413

103.7

106.7

3.0

14.13

LC085

250

375

125

4594

0.134

76.2

114.3

38.1

4.59

including

265

280

15

12592

0.368

80.8

85.4

4.6

12.59

 

310

330

20

7902

0.231

94.5

100.6

6.1

7.90

 

340

350

10

9210

0.269

103.7

106.7

3.0

9.21

 

395

405

10

1102

0.032

120.4

123.5

3.0

1.10

 

420

430

10

2046

0.060

128.0

131.1

3.0

2.05

 

485

495

10

1947

0.057

147.9

150.9

3.0

1.95

LC086

370

490

120

3309

0.097

112.8

149.4

36.6

3.31

including

390

420

30

10208

0.298

118.9

128.0

9.1

10.21

including

400

415

15

14043

0.410

122.0

126.5

4.6

14.04

LC087

360

390

30

9378

0.274

109.8

118.9

9.1

9.38

including

365

380

15

17633

0.515

111.3

115.9

4.6

17.63

LC088

250

260

10

576

0.017

76.2

79.3

3.0

0.58

LC090

465

475

10

706

0.021

141.8

144.8

3.0

0.71

 

505

520

15

425

0.012

154.0

158.5

4.6

0.43

LC091

305

335

30

1530

0.045

93.0

102.1

9.1

1.53

*The true widths of the mineralized zones have not been rigorously determined, but are thought at this time to be 70-100% of true thicknesses.  The geometry of mineralization at Long Canyon is complex, and true widths may not be completely understood until delineation drilling is completed.   For a comprehensive table listing previous drill results, please use the following link: http://www.fronteergroup.com/sites/fronteer_admin/LongCanyonDrillSummary0816.pdf

For a map showing the location of drill holes, please use the following link:  www.fronteergroup.com/sites/fronteer_admin/LongCanyonMap08016.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 4,100 metres (13,700) of drilling to date.

Gold mineralization at Long Canyon 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. 

Long Canyon, Northumberland and Sandman are currently Fronteer's leading properties among its large, relatively untapped portfolio of gold projects in Nevada.

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. ("AuEx") (XAU - TSX). 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 meet its initial earn-in obligations this year.

Robert Felder, M.Sc. and Certified Professional Geologist, 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 calculated using a cut-off of 0.30 g/tonne.  Drill intersections are reported as drilled thicknesses. .  Reverse circulation cuttings were samples on 5.0 ft. (1.52m) intervals and assayed by American Assay Laboratories (ISO9002:2002) 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 was re-assayed and completed with a gravimetric finish.  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$92 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
PH) 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 http://www.industrymailout.com/Industry/W.aspx?q=81607253&qz=0747e73484d5d4227cacca53671977b7

VanEck Vectors Global Alternative Energy ETF

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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.

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TORONTO (FRG.TO)AMEX (FRG)
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