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Fronteer Gold

Publié le 05 juin 2008

Northumberland gold deposit increases in size and significance

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Mots clés associés :   Copper | Uranium |

June 5, 2008

Fronteer's Northumberland gold deposit increases in size and significance

08-14

Fronteer Development Group Inc. ("Fronteer" or the "Company") (FRG - TSX/AMEX) is pleased to announce that a new resource estimate for its 100%-owned Northumberland gold project has increased the deposit's size and advanced its production potential on multiple fronts. 

The Northumberland project represents one of the largest undeveloped Carlin-style deposits in Nevada. The updated resource estimate, incorporating a new 3-D geological model and three years of drill results, has increased Northumberland's gold-equivalent resource estimate by 28%. The resource now comprises a Measured and Indicated ("M&I") resource of 2.44 million ounces and an inferred resource of 0.82 million ounces. 

The new open-pit and underground resource estimate (oxide and sulphide) also:

  • Identifies new near-surface and down-dip areas open for expansion.
  • More than doubles the gold ounces in the measured category;
  • Increases the open-pittable, gold-equivalent resource to 2.41 million ounces (M&I);
  • Adds a new indicated resource of 9.06 million ounces of silver; and
  • Reveals exceptional continuity of mineralization and grade over hundreds of metres, allowing for a reclassification of ounces to higher confidence levels.

 "With gold prices on a strong uptrend, global gold reserves decreasing and advanced projects in mining-friendly jurisdictions with good infrastructure in short supply, Northumberland represents an important asset not only for Fronteer, but the gold industry," says Fronteer President and CEO Dr. Mark O'Dea. "Our focus in the near-term is to expand the deposit by drill testing higher grade mineralized bodies identified through this new modeling."

Northumberland's US$3.8-million exploration program is currently underway with two drills turning.   A further updated resource estimate, incorporating Fronteer drill results from this year and next, is planned for late 2009.

Newmont Mining Corporation has granted Fronteer a license for the use of its patented N2TEC flotation process technology (tests using Newmont's technology achieved recoveries greater than 90% from Northumberland refractory sulfide mineralization). In return, Fronteer has granted Newmont preferential ore processing rights for any non heap leach ore developed from Northumberland on commercially competitive terms.

Northumberland is one of several Nevada gold projects obtained by Fronteer from the 2007 acquisition of NewWest Gold Corp. The new resource estimate comprises exploration data collected prior to the acquisition.

The Northumberland resource is located entirely on private lands. The deposit consists of a series of stacked, shallow-dipping, tabular, sheet-like deposits stretching over 2.6 km long and up to 1.1 km wide, and is open for expansion in multiple directions.

To view the new resource model, please use the following link:  www.fronteergroup.com/sites/fronteer_admin/NorthumberlandResourceModel.jpg  

To download a print-quality version of this file, please use the following link:
www.fronteergroup.com/sites/fronteer_admin/NorthumberlandResourceModel.pdf (2MB)

Northumberland resource estimate

 

 

 

MEASURED

 

 

 

Gold

 

Gold Equivalent*

Resource Type

Cut-off (g/t)

Cut-off (opt)

Tonnes

g/t

opt

oz

 

 

 

 

oz

Open Pit Oxide

0.3

0.01

12,888,000

1.19

0.035

492,000

 

 

 

 

492,000

Open Pit Sulfide

1.0

0.03

13,781,000

2.31

0.067

1,022,000

 

 

 

 

1,022,000

Underground

2.5

0.07

 

 

 

 

 

 

 

 

 

TOTAL

 

 

26,669,000

1.77

0.05

1,514,000

 

 

 

 

1,514,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INDICATED

 

 

 

Gold

Silver

Gold Equivalent*

Resource Type

Cut-off (g/t)

Cut-off (opt)

Tonnes

g/t

opt

oz

Tonnes

g/t

opt

oz

oz

Open Pit Oxide

0.3

0.01

739,000

1.94

0.057

46,000

13,627,000

7.31

0.213

3,203,000

110,000

Open Pit Sulfide

1.0

0.03

8,794,000

2.35

0.069

665,000

22,575,000

8.01

0.234

5,815,000

781,000

Underground

2.5

0.07

316,000

3.35

0.098

34,000

316,000

4.43

0.129

45,000

35,000

TOTAL

 

 

9,849,000

2.35

0.07

745,000

36,518,000

7.72

0.23

9,063,000

926,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MEASURED & INDICATED

 

 

 

Gold

Silver

Gold Equivalent*

Resource Type

Cut-off (g/t)

Cut-off (opt)

Tonnes

g/t

opt

oz

Tonnes

g/t

opt

oz

oz

Open Pit Oxide

0.3

0.01

13,627,000

1.23

0.036

538,000

13,627,000

7.31

0.213

3,203,000

602,000

Open Pit Sulfide

1.0

0.03

22,575,000

2.32

0.068

1,687,000

22,575,000

8.01

0.234

5,815,000

1,803,000

Underground

2.5

0.07

316,000

3.35

0.098

34,000

316,000

4.43

0.129

45,000

35,000

TOTAL

 

 

36,518,000

1.92

0.06

2,259,000

36,518,000

7.72

0.23

9,063,000

2,440,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INFERRED

 

 

 

Gold

Silver

Gold Equivalent*

Resource Type

Cut-off (g/t)

Cut-off (opt)

Tonnes

g/t

opt

oz

Tonnes

g/t

opt

oz

oz

Open Pit Oxide

0.3

0.01

17,000

1.83

0.053

1,000

17,000

10.98

0.320

6,000

1,000

Open Pit Sulfide

1.0

0.03

1,841,000

2.06

0.060

122,000

1,841,000

6.54

0.191

387,000

130,000

Underground

2.5

0.07

5,560,000

3.71

0.108

663,000

5,560,000

5.95

0.174

1,064,000

684,000

TOTAL

 

 

7,418,000

3.30

0.10

786,000

7,418,000

6.11

0.18

1,457,000

815,000

*AuEq calculated at a Au:Ag ratio of 50:1

 

 

 

 

 

 

 

 

 

Christopher Lee, P. Geo, Chief Geoscientist for Fronteer Development Group, is the designated Qualified Person for the Northumberland resource estimate with the ability and authority to verify its authenticity and validity. Mineral resources have been estimated in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in August 2000, as amended, and prescribed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects.  The estimate 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: 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). 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 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.  

The Independent Qualified Person responsible for Northumberland's previous resource estimate is Michael Gustin, Ph.D., of Mine Development Associates ("MDA"), Reno, Nevada. For further details, please view the 43-101 Compliant Report: "Technical Report, Northumberland Project, Nye County, Nevada, USA, November 1, 2007, by Mine Development Assoc. for Fronteer" on SEDAR at http://www.sedar.com/.

LIQUIDITY
Fronteer is not invested in any short term commercial paper or asset-backed securities. Fronteer has approximately C$96 million in cash that is fully liquid and held with a large 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 excellent 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
Glen Edwards, Director, Communications
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, , timing of resource estimate, potential recovery rates  and size and type 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  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, government regulation 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. Mineral resources are not mineral reserves and do not have demonstrated economic viability, and there is no guarantee that any resource will become a reserve.

FRG - TSX �2008 Fronteer Development Group | fronteergroup.com
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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
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
12/01/2011(Long Canyon)reports interim resource estimate for Long Canyon gold depos...
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 ...
04/12/2009(Michelin (open Pit))Independent study: Michelin Uranium Project to generate regi...
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...
16/07/2009(Northumberland)initiates permitting for underground access at Northumbe rla...
30/06/2009(Long Canyon)Metallurgical drilling returns 4.15 grams per tonne gold ove...
23/06/2009(Jacques Lake)reports 87.5% uranium recovery from Aurora's pilot plant te...
16/06/2009(Sandman)Ongoing work-program underlines strong production potential ...
11/06/2009(Long Canyon)Long Canyon column-leach tests return gold recoveries averag...
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
11/09/2008(Long Canyon)Drilling, road building unearth more near-surface gold at Fr...
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
15/02/2008(Long Canyon)Drilling extends strike of high-grade gold at Nevada propert...
Communiqués de Presse de Fronteer Gold
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
10/06/2009to subscribe for six million units of East Asia Minerals
02/06/2009grants option to International Enexco on Loomis gold pro per...
03/03/2009acquires additional shares and now owns 92.1% of Aurora Ener...
23/01/2009launches formal bid for Aurora Energy Resources Inc.
22/12/2008announces intention to acquire Aurora Energy Resources I nc.
05/11/2008hits more gold 'off-trend' in Nevada's Eastern Great Basin
18/06/2008finalizes Newmont deal to fast-track Nevada gold project to ...
18/04/2008 to hold Annual General Meeting in Toronto, May 6
08/04/2008Nunatsiavut Government's three-year moratorium to allow uran...
28/03/2008 reports fiscal 2007 results
25/03/2008's global exploration program aims to double gold resource b...
25/02/2008's Aurora exceeds annual resource target, adds four projects
05/04/2007Closes C$5,870,500 Over-Allotment Option
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TORONTO (FRG.TO)AMEX (FRG)
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