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Fronteer Gold

Publié le 18 novembre 2008

Drilling continues to extend gold mineralization at Long Canyon

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Mots clés associés :   Copper | Uranium |

November 18, 2008

Drilling continues to extend gold mineralization at Long Canyon

08-29

Fronteer Development Group Inc. ("Fronteer" or the "Company") (FRG - TSX/AMEX) is pleased to announce that further step-out drilling has extended high-grade, near-surface, oxide gold mineralization by an additional 100 metres (328 feet) along strike at its 51% owned Long Canyon project in Nevada.

To date, Long Canyon's 2008 work-program has extended mineralization along strike to 1.7 kilometres (1.1 miles) and across multiple zones, with a footprint up to 400 metres (1,300 feet) in width. Mineralization remains open in all directions.

Two 100-metre step-out holes returned: 

  • 3.12 grams per tonne gold  (0.091 ounces per ton) over 24.4 metres (80 feet), including 9.87 g/t (0.288 oz/ton) over 3.0 metres (10 feet), in hole LC149;
  • 3.01 g/t  (0.088 oz/ton) over 7.6 metres (25 feet), including 5.92 g/t (0.173 oz/ton) over 1.5  metres (5 feet), in LC147.

Other new results continue to further define this growing deposit, demonstrating encouraging consistency and continuity of grade, including:

  • 4.81 g/t  (0.141 oz/ton) over 12.8 metres (42.2 feet), including 8.16 g/t (0.238 oz/ton) over 4.3 metres (14.1 feet), in LC107C;
  • 4.95 g/t (0.145 oz/ton) over 13.8 metres (45 feet), including 8.52 g/t (0.249 oz/ton) over 6.1 metres (20 feet), in LC141.

    For a map highlighting recent drilling, please click: http://www.fronteergroup.com/sites/fronteer_admin/LongCanyonDrillMap0829.pdf

    Approximately 21,200 metres (69,700 feet) of drilling from more than 130 holes have been completed at Long Canyon this year. Two reverse circulation rigs and two diamond drill-core rigs are currently turning on site. Results are pending from approximately 70 drilled holes, with an additional 20 holes planned for the season. 

    The remainder of the 2008 work program is focusing on:

    • infill drilling between the northeast extensions and the rest of the drill grid; 
    • extending mineralization in the Shadow Zone, a new parallel zone of mineralization; and,
    • infill drilling selected areas of the southern portion of the deposit.

    A project-first NI 43-101 resource estimate is planned by the end of January 2009. 

    Mineralization at Long Canyon is sediment-hosted and associated with solution breccias and stratabound horizons along a boudinaged limestone-dolomite contact. With drilling consistently intersecting near-surface, high-grade oxide gold mineralization, Long Canyon is developing into a high-quality gold deposit. 

    Fronteer is majority owner (51%) and manager of Long Canyon through a participating joint venture with AuEx Ventures Inc. ("AuEx") (49%).  An initial joint venture project budget of approximately US$3.9 million will see activities through to March 2009. 

    Long Canyon, Sandman and Northumberland are currently Fronteer's leading properties among its large, portfolio of gold projects in Nevada.  Long Canyon, located 6.5 km (4 miles) south of the I-80 Freeway corridor in northeastern Nevada, is part of Fronteer's emerging 400,000-acre Eastern Great Basin portfolio. For more information on Long Canyon and Fronteer's other Nevada projects, visit:  http://www.fronteergroup.com/?q=content/nevada

    LONG CANYON DRILL RESULTS

    Hole ID

    From

    To

    Intercept
    Length

    Au

    Au

    From

    To

    Intercept
    Length

    Au

     

    (feet)

    (feet)

    (feet)

    (ppb)

    (oz/ton)

    (metres)

    (metres)

    (metres)

    (gpt)

    LC107C

    136

    178.2

    42.2

    4812

    0.141

    41.5

    54.3

    12.8

    4.81

    including

    139

    142.2

    3.2

    5532

    0.162

    42.4

    43.4

    1.0

    5.53

     

    151

    165.1

    14.1

    8160

    0.238

    46.0

    50.3

    4.3

    8.16

     

    168.2

    171

    2.8

    9047

    0.264

    51.3

    52.1

    0.8

    9.05

    LC111C

    131

    216

    85

    2183

    0.064

    39.9

    65.9

    25.9

    2.18

    including

    186

    191

    5

    11598

    0.339

    56.7

    58.2

    1.5

    11.60

     

    206

    210.7

    4.7

    7943

    0.232

    62.8

    64.2

    1.4

    7.94

    LC114C

    132

    192

    60

    1369

    0.040

    40.2

    58.5

    18.3

    1.37

     

    193.5

    217

    23.5

    6113

    0.179

    59.0

    66.2

    7.2

    6.11

    including

    193.5

    197

    3.5

    7869

    0.230

    59.0

    60.1

    1.1

    7.87

     

    201

    209

    8

    12805

    0.374

    61.3

    63.7

    2.4

    12.81

     

    322

    337

    15

    3646

    0.106

    98.2

    102.7

    4.5

    3.65

    including

    329

    331.2

    2.2

    18598

    0.543

    100.3

    101.0

    0.7

    18.60

    LC121C

    156

    161

    5

    1413

    0.041

    47.6

    49.1

    1.5

    1.41

    LC141

    440

    485

    45

    4953

    0.145

    134.1

    147.9

    13.8

    4.95

    including

    455

    475

    20

    8520

    0.249

    138.7

    144.8

    6.1

    8.52

    LC147 

    370

    395

    25

    3011

    0.088

    112.8

    120.4

    7.6

    3.01

    including

    380

    385

    5

    5918

    0.173

    115.9

    117.4

    1.5

    5.92

    LC149

    365

    445

    80

    3119

    0.091

    111.3

    135.7

    24.4

    3.12

    including

    370

    380

    10

    9867

    0.288

    112.8

    115.9

    3.0

    9.87

     

    470

    500

    30

    1642

    0.048

    143.3

    152.4

    9.1

    1.64

     

    True widths of the mineralized intervals are interpreted to be between 70-100% of the reported lengths. Results less than 1 g/t not highlighted in this table.  Holes LC144-45 and LC150-152 had no reportable intercepts. For a PDF of comprehensive drill results, please click: http://www.fronteergroup.com/sites/fronteer_admin/LongCanyonDrillResults0829.pdf


    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/t.  Drill intersections are reported as drilled thicknesses. Reverse circulation cuttings were sampled on 5.0 feet (1.52 metre) intervals and core was sampled at geologically selected intervals.  All drill samples were assayed by American Assay Laboratories (ISO9002:2002) in Sparks, Nevada, for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 10.0 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 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 no debt and holds approximately C$84 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 an extensive portfolio of advanced stage gold projects in Nevada, a 40% interest in three gold and copper-gold projects in western Turkey, 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

    Fronteer Gold

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    Fronteer Gold est une société d’exploration minière d'or basée au Canada.

    Fronteer Gold est en développement de projets d'or et d'uranium au Canada, et détient divers projets d'exploration au Canada, au Mexique et en Turquie.

    Ses principaux projets en développement sont MICHELIN (UNDERGROUND) et MICHELIN (OPEN PIT) au Canada et ses principaux projets en exploration sont 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 et KLONDIKE NORTH au Canada, SANTA CRUZ PROJECT, PASCO CANYON et ROSE MINE en Argentine, BUNCE, FIREBALL RIDGE, GREEN MONSTER, HAYS CANYON, JPW, WEST PEQUOP, HALILAGA, TRINITY SILVER, AGI DAGI - DELI ZONE, LONG CANYON, NORTHUMBERLAND, AGI DAGI, YUNTDAG et HUM en Turquie, BAZA, ARABIA, GYPSUM VALLEY, PEQUOP SOUTH, LENOID et SINTER en Espagne et SWISS BANK au Mexique.

    Fronteer Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,2 milliards CA$ (2,3 milliards US$, 1,6 milliards €).

    La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2004 à 0,30 CA$, et son plus haut niveau récent le 08 avril 2011 à 14,78 CA$.

    Fronteer Gold possède 150 571 000 actions en circulation.

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    Rapports annuels de Fronteer Gold
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    01/12/2009(Long Canyon)Preliminary economic assessment for Long Canyon Project gene...
    05/10/2009(Long Canyon)Long Canyon extends 100 metres to the north, returning 6.57 ...
    01/10/2009(Long Canyon)Step-out drilling at Long Canyon extends gold mineralization...
    17/09/2009(Long Canyon)Long Canyon deposit expansion ramps up: step-out drilling re...
    20/08/2009(Long Canyon)provides global update on its development-stage gold pro jec...
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    01/06/2009(Sandman)Sandman gold project returns 25.58 grams per tonne gold over...
    26/01/2009(Long Canyon)Drilling returns 5.32 grams per tonne gold over 25.4 metres ...
    19/01/2009(Agi Dagi - Deli Zone)Discovery of additional gold zone underlines open-ended pote...
    29/12/2008(Long Canyon)Drilling returns 9.03 grams per tonne gold over 25.8 metres ...
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    24/09/2008(Long Canyon)Earns Majority Interest in Long Canyon Gold Project, Nevada
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    19/08/2008(Long Canyon)discovers new high-grade gold zone at Long Canyon, Nevada
    09/08/2008(Northumberland)reclassifies Northumberland resource ounces
    29/07/2008(Long Canyon)hits more high-grade gold at Nevada property
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    11/03/2008(Labrador Iocg)Nunatsiavut government considers proposed change
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    07/04/2011Announces Completion of Acquisition by Newmont
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    01/02/2011completes sale of uranium assets to Paladin Energy
    24/01/2011reports objectives, work plan and budget for 2011
    28/06/2010Provides mid-year update on advancement of its key gold proj...
    26/04/2010expands gold portfolio in Nevada with acquisition ...
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    05/04/2007Closes C$5,870,500 Over-Allotment Option
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