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Fronteer Gold

Publié le 20 novembre 2008

Drilling strengthens continuity at Fronteer's Northumberland gold project

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November 20, 2008

Drilling strengthens continuity at Fronteer's Northumberland gold project

08-30

Fronteer Development Group Inc. ("Fronteer" or the "Company") (FRG - TSX/NYSE-A) is pleased to announce that recent drilling has strengthened the continuity and expansion potential of the Company's 100%-owned Northumberland deposit.

Mineralization has been extended both at depth and towards the west.

Depth extensions from hole FNU009 include :

  • 7.17 grams per tonne (0.209 ounces per ton) over 3 metres (10 feet);
  • 6.16 g/t (0.180 oz/t) over 3 metres (10 feet);
  • 13.50 g/t (0.394 oz/t) over 1.5 metres (5 feet);
  • all within a broader zone averaging 2.73 g/t (0.080 oz/t) over 64 metres (210 feet).

 FNU014, a 152-metre (500 foot) step-out to the southwest, also returned at depth:

  • 4.07 g/t (0.119 oz/t) over 1.5 metres (5 feet);
  • within a larger zone averaging 1.47 g/t (0.043 oz/t) over 27.4 metres (90 feet).

Of the relatively few historic drill holes that have targeted deep mineralization on the property, many have returned similar encouraging grades, including:

  • NW-1103 returned 13.9 g/t (0.405 oz/t) over 7.6 metres (25 feet) at a depth of approximately 518 metres (1,700 feet).
  • NN-5 returned 9.15 g/t (0.267 oz/t) over 19.8 metres (65 feet) at a depth of approximately 305 metres (1,000 feet).
  • NW-1165 returned 33.9 g/t (0.99 oz/t) over 3.0 metres (10 feet) of at a depth of approximately 914 metres (3,000 feet).

In addition to extending mineralization at depth, Fronteer's 2008 drill program also sought to test new shallow targets peripheral to Northumberland's existing pits. Fronteer intersected mineralization in multiple holes, including:

  • 1.70 g/t (0.050 oz/t) over 9.1 metres (30 feet) in FNU003
  • 1.52 g/t (0.044 oz/t) over 10.7 metres (35 feet) in FNU002
  • 1.49 g/t (0.043 oz/t) over 4.0 metres (13 feet), starting from surface, in FNU004

Gold at Northumberland occurs in a window of prospective lower plate Roberts Mountain stratigraphy, which hosts some of the largest gold deposits in Nevada.  The mineralization occurs in a series of stacked, sediment hosted gold zones that occur over a 2.6 kilometre-long by up to 1.1 kilometre-wide area (1.6 miles x 0.68 miles). Over 1,400 drill holes totaling about 154,000 metres (505,000 feet) have cumulatively established a high confidence level in the integrity of Northumberland's resource.

Northumberland's historical production, taken from small oxide open pits, is estimated at 230,700 ounces gold and 485,000 ounces silver - less than 10% of the current resource. Northumberland's NI 43-101 gold-equivalent resource estimate includes 2.44 million ounces indicated and 815,000 ounces inferred (43,440,000 tonnes averaging 2.17 g/t). The deposit is located entirely on private lands owned 100% by Fronteer.

 

DRILL HIGHLIGHTS

Hole ID

From

To

Intercept
Length

Au

Au

From

To

Intercept
Length

Au

 

(feet)

(feet)

(feet)

(ppm)

(oz/ton)

(metres)

(metres)

(metres)

(gpt)

 

 

 

 

 

 

 

 

 

 

FNU001 

40

50

10

1.19

0.035

12.2

15.2

3.0

1.19

FNU002 

180

190

10

1.08

0.032

54.9

57.9

3.0

1.08

 

335

370

35

1.52

0.044

102.1

112.8

10.7

1.52

FNU003 

70

100

30

1.70

0.050

21.3

30.5

9.1

1.70

FNU004 

315

325

10

1.10

0.032

96.0

99.1

3.0

1.10

FNU008

0

13

13

1.49

0.043

0.0

4.0

4.0

1.49

FNU009

2088

2298

210

2.73

0.080

636.6

700.6

64.0

2.73

including

2148

2158

10

7.17

0.209

654.9

657.9

3.0

7.17

 

2253

2258

5

5.24

0.153

686.9

688.4

1.5

5.24

 

2268

2278

10

6.16

0.180

691.5

694.5

3.0

6.16

 

2293

2298

5

13.50

0.394

699.1

700.6

1.5

13.50

FNU010 

835

855

20

2.85

0.083

254.6

260.7

6.1

2.85

 

1162.5

1191

28.5

1.83

0.053

354.4

363.1

8.7

1.83

including

1162.5

1167.5

5

5.37

0.157

354.4

355.9

1.5

5.37

FNU012 

1748

1758

10

1.77

0.052

532.9

536.0

3.0

1.77

FNU014

3313

3338

25

1.67

0.049

1010.1

1017.7

7.6

1.67

 

3343

3433

90

1.47

0.043

1019.2

1046.6

27.4

1.47

including

3348

3353

5

4.07

0.119

1020.7

1022.3

1.5

4.07

FNU019

560

585

25

1.17

0.034

170.7

178.4

7.6

1.17

*Note: The true width of the mineralized zones is estimated to be approximately 70-95% of those stated. Drill composites were calculated using a cut-off of 0.30 g/t. Results less than 1 g/t are not reported here. FNU005-007, 011, 013, 015, 016 and 018 had no reportable assays. Assay results are pending for FNU017.

Northumberland, Long Canyon and Sandman are currently Fronteer's leading properties among its large, portfolio of gold projects in Nevada. For more information on Northumberland and Fronteer's other Nevada projects, visit:  http://www.fronteergroup.com/?q=content/nevada

 

James Ashton P.E. is designated as a Qualified Person for the Northumberland 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 ft. (1.52m) intervals and core was sampled atgeologically selected intervals. All 2008 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 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 approximately C$83 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

Christopher Lee, P. Geo, Chief Geoscientist for Fronteer Development Group., is the designated Qualified Person who has prepared the Northumberland resource estimate. Mineral resources have been estimated in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in November 2003, as amended, and prescribed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects.  The mineral resource estimate is as of May 1, 2008 and was conducted using a combination of Ordinary Kriging (gold) and Inverse-Distance Weighting (silver) grade interpolations within an 'unwrinkled' 3-D block model in Gemcom software. A total of 17,149 assays from 1,119 drill holes (core, RC and rotary drilling) were capped and composited to 10 ft lengths, then separated into high and low grade domains within three distinct mineralized horizons, constrained by hand-digitized, 3-D solids. Each horizon was 'unwrinkled' into a separate flat horizon to facilitate continuous interpolation across variably dipping segments of the deposit, then back-transformed into real space. Densities were based on 295 s.g. measurements and assigned according to lithological proportions in different areas of the deposit and degree of oxidation. Three different resource types were defined in order to reflect the different anticipated costs of extraction for open pit versus underground mining, and heap leach versus sulfide processing. Cut-off grades for each resource type were estimated using cost ranges of existing operations for various parameters, such as mining and processing costs, metal recoveries, general and administrative, sales and refining costs, and an assumed gold price of $700 per ounce. The three different resource types are: open pit oxide and sulfide, based on gold cyanide extraction ratios (oxide resource = cyanide leach assay/fire assay greater than 0.5), and underground, based on depth below surface (2,286-metre elevation, constrained by preliminary internal Lerchs-Grossman pit optimizations). Mineral resources were classified according to: (i) geological confidence, (ii) number of drill holes, and (iii) average distances to samples used in each block estimate. Further details of the estimation procedure are available in the amended and restated NI 43-101 report, posted on SEDAR (www.sedar.com). Detailed resource tables for Fronteer's Nevada projects, including Northumberland, can also be found at: http://www.fronteergroup.com/?q=content/nevada-resource-estimate-tables.

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 - NYSE-A
Suite 1650, 1055 West Hastings, Vancouver, BC V6E 2E9

Fronteer Gold

EN DÉVELOPPEMENT
CODE : FRG.TO
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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
2006 Annual report
Rapports Financiers de Fronteer Gold
29/03/2011reports year-end results
12/08/2010Gold Reports Strong Second Quarter Financial Results and Sig...
12/05/2010Continues to report strong financial results and advancement...
16/11/2009reports third quarter results
14/08/2009reports second quarter and first half 2009 results
14/11/2008reports third quarter results
14/08/2008reports second quarter results
14/05/2008reports first quarter 2008 results
Projets de Fronteer Gold
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18/01/2011(Long Canyon)Step-Out Drilling at Long Canyon Expands Deposit by 200 Metr...
18/08/2010Drilling along northern extension intersects 44.2 metres of ...
09/08/2010(Northumberland)Gold continues to intersect high-grade gold at Northumberlan...
03/08/2010(Northumberland)Second high-grade zone returns 7.10 g/t gold over 37.4 metre...
20/07/2010(Long Canyon)Drilling Along Northern Extension of Deposit Intersects 64 M...
21/06/2010(Sandman)Drilling hits 2.35 ounces/ton gold and 33.18 ounces/ton silv...
09/06/2010(Long Canyon)Drilling returns 16.4 g/t gold over 21.2 metres
07/06/2010(Sandman)New high-grade drill results and expanded Plan of Operations
19/05/2010(Long Canyon)New resource estimate
14/04/2010(Halilaga)Drilling returns 308 metres of 0.34 g/t gold and 0.30% coppe...
05/04/2010(Halilaga)Reports metallurgical results and 2010 work-program
25/03/2010(Sandman)Near-surface oxide gold intercepts highlight open-pit potent...
05/03/2010(Sandman)Drilling returns 1.23 ounces per ton gold over 24.8 feet at ...
01/03/2010(Northumberland)Initial Northumberland metallurgical testing reports gold re...
22/02/2010(Halilaga)New drilling expands Halilaga copper-gold porphyry in northw...
18/02/2010(Northumberland)Drilling further defines high-grade gold
02/02/2010(Long Canyon)Drilling returns 3.94 grams per tonne gold over 77.7 metres ...
25/01/2010(Sandman)Sandman delivers more high-grade gold to Fronteer's Nevada p...
11/01/2010(Sandman)Sandman gold project on track to potential production decisi...
06/01/2010(Agi Dagi)& Teck complete the sale of the Agi Dagi & Kirazli gold proj...
21/12/2009(Long Canyon)Drilling advancing Long Canyon gold deposit to feasib ility
09/12/2009(Northumberland)Drilling highlights large high-grade zone at Northumberland ...
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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...
12/08/2009(Long Canyon)Emerging zone returns more wide intervals of gold at Long Ca...
05/08/2009(Sandman)High-grade gold intersected in footwall zone of Sandman gold...
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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 ...
23/12/2008(Halilaga)Regional drilling at Halilaga intersects new areas of coppe...
08/12/2008Shallow drilling demonstrates high-grade nature of mineraliz...
20/11/2008(Northumberland)Drilling strengthens continuity at Fronteer's Northumberland...
18/11/2008(Long Canyon)Drilling continues to extend gold mineralization at Long Can...
12/11/2008(Agi Dagi - Deli Zone)JV update: Drilling begins at Agi Dagi gold project
29/09/2008(Long Canyon)Drilling extends strike 400 metres at Fronteer's Long Canyon...
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
05/06/2008(Northumberland)Northumberland gold deposit increases in size and significan...
11/03/2008(Labrador Iocg)Nunatsiavut government considers proposed change
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07/04/2011Announces Completion of Acquisition by Newmont
20/03/2011ISS Proxy Advisory Services and Glass Lewis & Co. Recommend ...
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 ...
29/03/2010Strong year-end results
06/01/2010Exceptional gold intercepts expand mineralization at Long Ca...
09/12/2009Agreement signed for the sale of the Agi Dagi and Kirazli go...
24/09/2009and Teck announce proposed sale of projects to Alamos
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18/04/2008 to hold Annual General Meeting in Toronto, May 6
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05/04/2007Closes C$5,870,500 Over-Allotment Option
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