Fronteer Gold

Published : May 19th, 2010

New resource estimate

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May 19, 2010

Fronteer Gold reports new resource estimate for Long Canyon gold deposit, Nevada

10-17

Fronteer Gold (FRG - TSX/NYSE-Amex) reports that a new resource estimate for the Long Canyon deposit shows a meaningful increase in resource size and continues to showcase the high-grade nature of this new Nevada gold deposit. 

Quoted at a cut-off grade of 0.20 grams per tonne gold, the updated Classified Mineral Resource consists of:

  • A Measured and Indicated (M&I) resource of 672,000 ounces at an average grade of  1.71 g/t gold (12,240,000 tonnes) and,
  • An additional Inferred resource of 552,000 ounces at an average grade of 1.65 g/t gold (10,394,000 tonnes).

The previously published 2009 resource estimate was quoted at a cut-off of 0.30 g/t gold. This updated Mineral Resource estimate is quoted at a cut-off grade of 0.20 g/t gold to be consistent with the internal cut-off defined by Long Canyon's current Preliminary Economic Assessment (see Dec. 1, 2009, press release).

Using a 0.30 g/t gold cutoff, the new resource estimate shows an 81% increase in M&I ounces and a 17% increase in Inferred ounces compared to the 2009 resource. The substantial increase in M&I ounces is attributable to the 2009 work-program's focus on infill core drilling.

 "Long Canyon has rapidly transitioned from exploration to development stage, showcasing the high-quality nature of the deposit," says Troy Fierro, Fronteer Gold Chief Operating Officer. "Results from the 2009 drilling program clearly demonstrate Long Canyon has significant growth potential. In 2010, our objectives are to continue resource expansion and complete the required metallurgical, engineering, and environmental work necessary to move Long Canyon to pre-feasibility stage and prepare the project for permitting."

The grade and tonnage of this new resource estimate is shown at various cut-off grades in the table below. 

Long Canyon 2010 resource estimate

2010

 

Cut-off

Tonnes

g Au/t

oz Au

Measured

0.20

587,000

2.50

47,000

0.30

510,000

2.84

47,000

1.00

297,000

4.47

43,000

Indicated

0.20

11,653,000

1.67

625,000

0.30

9,839,000

1.93

611,000

1.00

4,432,000

3.61

515,000

Measured & Indicated

0.20

12,240,000

1.71

672,000

0.30

10,348,000

1.98

657,000

1.00

4,729,000

3.67

558,000

Inferred

0.20

10,394,000

1.65

552,000

0.30

8,292,000

2.01

536,000

1.00

3,571,000

3.97

456,000

 

The grade-tonnage distribution of this new estimate continues to show that higher cut-off grades dramatically increase the average grade of the resource but only modestly reduce the number of contained ounces.  Specifically, at a 1.0 g/t gold cut-off, 83% of the total resource ounces remain while the grade increases by more than 100% as follows:

  • An M&I resource of 558,000 ounces at an average grade of  3.67 g/t gold (4,729,000 tonnes) and,
  • An additional Inferred resource of 456,000 ounces at an average grade of 3.97 g/t gold (3,571,000 tonnes).

Fronteer Gold is majority owner (51%) and operator of Long Canyon.  A $19.8 million development and exploration program, funded 49% by our JV partner, is planned for 2010.  The program is currently underway with five rigs operating. 

Long Canyon, Northumberland and Sandman comprise Fronteer Gold's future production platform based in Nevada. All three gold deposits have high-grade gold starting at or near surface, and have encouraging production attributes.  We aim to build regional production by advancing these projects over the near-term using existing cash resources. We anticipate further deposit growth, which may add significant gold ounces to our ledger and pending results from a variety of development activities to clearly define the economic strength of our projects.

Long Canyon mineral resource estimation as of May 13, 2010. The Long Canyon mineral resource estimation was completed by Mine Development Associates ("MDA"). The resources were modeled and estimated by evaluating the drill data statistically and utilizing geologically interpreted cross-sections provided by Fronteer to interpret mineral domains on cross-sections spaced at 50-metre intervals throughout the extent of the Long Canyon mineralization. The mineral domain interpretations were then rectified on cross-sections spaced at 10-metre intervals. The modeled mineralization was analyzed statistically to establish estimation parameters, and gold grades were estimated by inverse-distance methods into a block model with 5 metre (width) x 10 metre (length) x 3 metre (height) blocks that were coded to the mineral domains by the 10-metre mineral domain polygons. All modeling of the diluted resources was performed using Gemcom Surpac� software. Quality-control data generated during the various drill programs conducted at Long Canyon were independently reviewed by MDA as part of the resource study. The person responsible for the resource estimate on behalf of MDA is Michael Gustin, Ph.D., P. Geo, a Qualified Person as defined by National Instrument 43-101.  Further details of the estimation procedure will be available in an updated NI 43-101 report, which will be posted on SEDAR (www.sedar.com), no later than 45 days from the date of this release.  

 

Christopher Lee, P. Geo., Chief Geoscientist 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 is consistent with that provided by the independent QP responsible for the resource estimate, Michael Gustin of MDA.

 

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 or contact:

Mark O'Dea, President & CEO
Troy Fierro, COO
John Dorward, VP, Business Development
Glen Edwards, Director, Communications
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 and development 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 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 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.

FRG - TSX �2010 Fronteer Development Group | fronteergold.com
FRG - NYSE Amex Subscribe |
Suite 1650, 1055 West Hastings, Vancouver, BC V6E 2E9

Fronteer Gold

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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 CA$ 2.2 billions as of today (US$ 2.3 billions, € 1.6 billions).

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

Fronteer Gold has 150 571 000 shares outstanding.

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Annual reports of Fronteer Gold
2006 Annual report
Financials of Fronteer Gold
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 Fronteer Gold
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 Fronteer Gold
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
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