Nov 9 2010
Fronteer Gold (TSX:FRG)(NYSE Amex:FRG) announces that ongoing drilling to the northeast of the current resource area continues to intersect wide intervals of high-grade gold at its wholly owned Long Canyon gold project in Nevada.
Fronteer Gold recently completed the acquisition of AuEx Ventures, thereby consolidating 100% ownership of its flagship Long Canyon project and creating a dominant position in the emerging Pequop Gold District.
"The Long Canyon deposit is the type of foundational asset upon which major mining companies have historically been built. Long Canyon is viewed a 'company-maker' for Fronteer Gold, with its combination of high grades, simple metallurgy, resource upside and favourable jurisdiction. We are well funded to advance Long Canyon on a 100% basis as we push forward on our development timeline," says Fronteer Gold President and CEO, Mark O'Dea.
Six drill rigs are currently operating as part of the year's ongoing 70,000-metre program.
New results include:
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10.46 g/t gold over 39.3 metres, including 16.72 g/t gold over 15.2 metres in LC556C;
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6.35 g/t gold over 38.1 metres, including 10.59 g/t gold over 16.9 metres in LC548C;
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5.15 g/t gold over 42.7 metres in LC541C;
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5.29 g/t gold over 33.2 metres, including 20.23 g/t gold over 5.2 metres in LC557C;
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3.14 g/t gold over 46.3 metres, including 13.30 g/t gold over 9.8 metres in LC564C;
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6.38 g/t gold over 17.1 metres in LC561C;
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5.28 g/t gold over 13.0 metres, including 18.34 g/t gold over 2.7 metres in LC547C;
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8.42 g/t gold over 6.1 metres, including 34.3 g/t gold over 1.2 metres in LC555C.
Primary drill composites were calculated using a cut-off of 0.30 g/t, with variably higher cut-offs for the sub-intervals. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 30-100% of the reported lengths. "C" indicates a core hole.
This new drilling, concentrated to the northeast of the current resource area, further defines a thick, high-grade zone with broad lateral continuity along a recently recognized east-northeast trend.
THE NEAR-TERM PROGRAM
Fronteer Gold is efficiently advancing the project toward production. A $20-$25 million development/exploration program is planned for 2011, including near-term goals of:
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an updated resource and Preliminary Economic Assessment in early 2011;
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75,000 metres of exploration and development drilling;
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initiating permitting;
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an additional resource update near year-end 2011; and,
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commencing feasibility stage.
BOARD APPOINTMENT
Fronteer Gold welcomes Ronald L. Parratt to our Board of Directors. Mr. Parratt was formerly President and CEO of AuEx Ventures and currently President and CEO of Renaissance Gold. Mr. Parratt brings a wealth of exploration and development experience in Nevada to the board.
Moira Smith, P. Geo., Nevada Chief Geologist 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 accurate.
Source: Fronteer Gold