Fronteer Gold Inc.: Emerging Copper-Gold Porphyry Returns 646.50 Metres of Continuous Copper-Gold Mineralization
August 25 2010 - 7:00AM
Marketwired
Fronteer Gold (TSX: FRG)(NYSE Amex: FRG) announces that a new drill
hole has returned the longest interval of continuous copper-gold
mineralization ever intersected at the early-stage Halilaga
porphyry project in northwestern Turkey.
Assay highlights from HD-54, drilled within Halilaga's Central
Zone, are as follows:
-- 0.26 g/t gold and 0.33% copper over 646.50 metres starting from surface
and including:
-- 0.65 g/t gold and 0.89% copper over 106.80 metres, including 0.63
g/t gold and 1.50% copper over 33.0 metres; and,
-- a deeper zone averaging 0.23 g/t gold and 0.24% copper over 143.70
metres.
Based on the success of this significant hole, the drill plan
has been modified and an additional rig has been added to the
program, for a total of four rigs.
"Halilaga's Central Zone and the surrounding prospective
district have seen relatively minimal exploration. This drill hole
demonstrates the continuation of the deposit to the north, well
beyond what was previously thought to be the edge of the system,"
says Fronteer Gold President and CEO, Mark O'Dea. "Halilaga
provides Fronteer Gold with excellent upside exposure to an
exciting new deposit. Porphyry copper-gold deposits are an
increasingly important part of global gold production because of
their size, long mine life and strong cash-flow potential."
The Halilaga project is accessible by road; situated in
favourable terrain; and surrounded by excellent infrastructure.
HD-54 cored mineralized porphyry for its entire length,
including two zones of moderate- to higher grade copper-gold
mineralization. The hole cored the main zone of copper-gold
porphyry mineralization and supergene enrichment before passing
through a prominent east-west near-vertical fault and then
intersecting a postulated down-dropped block of porphyry
mineralization under younger volcanic cover on the northern portion
of the property.
Teck Resources Limited's Turkish subsidiary, ("TMST") is
Fronteer Gold's 60% joint venture partner and project operator.
There are currently three core rigs and one RC rig operating as
part of a $2.7 million drill program, funded 60%/40% by TMST and
Fronteer Gold. The program includes 10,000 metres of core drilling,
with 8,500 metres of drilling planned for the Central Zone, and the
remainder planned for regional porphyry targets through the
property. This program is currently one-third complete.
Fronteer Gold anticipates completing the first resource estimate
for the project by Q1-2011, dependent on sufficient drilling being
completed.
Drill highlights
---------------------------------------------------------------------------
From Intercept
Hole ID (metres) To (metres) (metres) Au (g/t) Cu (%)
---------------------------------------------------------------------------
HD-54 0.00 646.50 646.50 0.26 0.33
---------------------------------------------------------------------------
Including 0.00 392.80 392.80 0.32 0.41
---------------------------------------------------------------------------
Including 4.50 111.30 106.80 0.65 0.89
---------------------------------------------------------------------------
Including 17.00 50.00 33.00 0.63 1.50
---------------------------------------------------------------------------
and
including 502.80 646.50 143.70 0.21 0.23
---------------------------------------------------------------------------
All true widths are 80-90% of reported widths unless otherwise stated.
All intervals of no sampling have been assigned zero grade for the purposes
of compositing.
For a cross-section highlighting HD-54, please
clickhttp://www.fronteergold.com/sites/files/fronteer_admin/HalilagaCrossSection1028.pdf
Drill samples and analytical data for Halilaga are collected
under the supervision of TMST, Fronteer Gold's joint venture
partner and project operator, using industry standard QA-QC
protocols. Ian Cunningham-Dunlop, P. Eng, Vice President
Exploration for Fronteer Gold, who is the QP responsible for
compiling the data contained in this release, has not verified all
the data; however, the grades and widths reported here agree well
with the company's past results on the project and correspondence
with TMST has given him no reason to doubt their authenticity. For
further details on Halilaga, please view the NI 43-101 technical
report entitled "NI 43-101 Technical Report on the Halilaga
Exploration Property, Canakkale, Western Turkey", dated March 30,
2009, prepared by Peter Grieve, of Geology and Resource Solutions
Limited, on SEDAR at http://www.sedar.com.
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.
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 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.
NEWS RELEASE 10-28
Contacts: Fronteer Gold Inc. Mark O'Dea President & CEO
604-632-4677 or Toll Free 1-877-632-4677 Fronteer Gold Inc. John
Dorward VP, Business Development 604-632-4677 or Toll Free
1-877-632-4677 Fronteer Gold Inc. Glen Edwards Director,
Communications 604-632-4677 or Toll Free 1-877-632-4677
info@fronteergold.com www.fronteergold.com
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