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Message: Fronteer: Drilling Intersects 14.30 Grams Per Tonne Gold Over 12.77 Metres
| April 3, 2009 | |
| Fronteer Development Group Inc.: Drilling Intersects 14.30 Grams Per Tonne Gold Over 12.77 Metres at Sandman Project, Nevada | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2009) - Fronteer Development Group Inc. (TSX:FRG)(NYSE Alternext US:FRG)(NYSE Amex:FRG.A) is pleased to announce the results of the first 12 holes completed by Newmont USA Limited ("Newmont"), a subsidiary of Newmont Mining Corporation, as part of the ongoing 2009 US$5M work-program at the Sandman gold project in Nevada. All 12 holes intersected the near-surface, oxide gold mineralization at Sandman's Southeast Pediment deposit as part of a broader resource delineation program. Results are very encouraging as they confirm not only the high-grade nature of the gold mineralization, but the potential for a large tonnage of lower-grade material. Highlights include: - 14.30 g/t (0.417 oz/ton) over 12.77 metres, including 72.36 g/t (2.111 oz/ton) over 1.86 metres in NSM-55; and, - 139.03 grams per tonne gold (4.055 ounces per ton) over 2.35 metres, in NSM-57. The holes lie within the main resource area at Southeast Pediment. Silver is also a consistent component of the mineralized system at Sandman, with assays up to 121.03 g/t (3.53 oz/ton) over 1.52 metres. Two core drills and one reverse-circulation drill are currently active on the property with approximately 30 holes completed to date in 2009. Sandman is located along the King River Rift structure, a regional feature that hosts multiple high-grade vein-related gold systems, including the Sleeper gold mine and the Goldbanks deposit. At Sandman, high-grade, gold mineralization occurs in multiple locations along a 16-kilometre trend, suggesting the potential for an underlying structural linkage that could expand the size and continuity of the mineralization at this project. Sandman's deposits are near-surface and potentially amenable to open-pit mining. Infrastructure surrounding Fronteer's Sandman project is considered excellent. The property is within trucking distance to Newmont's Twin Creeks mine, potentially eliminating the need for a stand-alone milling facility and other significant capital expenditures if the project were to proceed to production. Under the terms of the Sandman option and joint-venture agreement, Newmont can earn an initial 51% interest in the project by making a positive production decision by June 2011, spending a minimum of US$14 million on exploration and development, making a commitment to fund and construct a mine, and completing a feasibility study. Sandman is to be assessed through Newmont's formal Stage Gate process, a disciplined, step-by-step, project evaluation system to move projects through the development pipeline. SANDMAN DRILL RESULTS From To Interval Ag Au Au Hole ID (m) (m) (m) (g/t) (g/t) (oz/ton) NSM-52 35.91 47.98 12.07 10.21 1.92 0.056 including 38.71 42.12 3.41 15.12 3.90 0.114 NSM-54 30.72 40.29 9.57 20.69 1.18 0.034 including 33.44 34.47 1.04 27.60 3.70 0.108 and 41.97 43.92 1.95 13.66 0.53 0.015 and 47.27 48.46 1.19 13.71 0.76 0.022 NSM-55 26.06 28.96 2.90 35.27 0.92 0.027 and 29.60 42.37 12.77 21.61 14.30 0.417 including 29.60 31.46 1.86 48.16 72.36 2.111 and including 31.46 39.62 8.17 15.01 1.06 0.031 and including 39.62 42.37 2.74 23.26 14.36 0.419 and 42.37 50.90 8.53 11.89 0.65 0.019 NSM-57 17.37 22.43 5.06 25.30 0.79 0.023 and 24.78 27.13 2.35 47.58 139.03 4.055 and 33.86 35.39 1.52 16.18 1.86 0.054 including 33.86 34.56 0.70 20.61 3.68 0.107 NSM-60 29.47 33.31 3.84 7.05 0.51 0.015 and 34.44 35.66 1.22 9.19 0.85 0.025 and 38.80 52.88 14.08 16.96 1.18 0.035 including 44.23 45.45 1.22 28.90 5.93 0.173 NSM-61 0.00 1.40 1.40 0.10 0.98 0.029 and 28.99 29.87 0.88 5.11 0.83 0.024 and 32.86 33.71 0.85 7.82 0.55 0.016 and 41.73 55.78 14.05 26.95 0.89 0.026 and 64.31 65.87 1.55 2.91 2.96 0.086 NSM-62 35.36 36.45 1.10 18.99 0.66 0.019 and 42.18 56.63 14.45 27.82 1.93 0.056 including 50.60 52.73 2.13 80.91 8.41 0.245 NSM-63 20.12 24.44 4.33 19.05 0.65 0.019 and 24.99 26.03 1.04 20.19 3.06 0.089 NSM-64 4.33 5.46 1.13 55.99 3.39 0.099 and 8.56 9.48 0.91 15.60 0.94 0.027 and 38.56 39.93 1.37 1.41 0.58 0.017 and 46.60 47.91 1.31 1.61 0.93 0.027 NSM-65 3.29 4.33 1.04 8.40 0.84 0.025 and 7.77 8.56 0.79 7.99 0.67 0.020 NSM-70 9.24 10.06 0.82 3.39 0.67 0.019 and 15.24 18.29 3.05 4.95 0.89 0.026 and 29.63 31.27 1.65 10.58 0.69 0.020 and 35.27 42.98 7.71 10.64 0.86 0.025 and 46.63 49.90 3.26 12.90 1.82 0.053 NSM-75 7.50 15.24 7.74 20.20 1.88 0.055 including 7.50 8.69 1.19 46.29 8.87 0.259 and 22.68 23.53 0.85 1.51 0.55 0.016 and 28.50 30.02 1.52 121.03 3.57 0.104 and 40.39 44.20 3.81 2.78 0.85 0.025 Note: The true width of the mineralized zones is estimated to be approximately 90% of those stated. Primary composite intervals were calculated using a cut-off of 0.5 g/t Au, and 1.0 g/t Au and 2.0 g/t Au for the higher grade internal intervals. Sandman, Long Canyon and Northumberland are currently Fronteer's leading properties among its large portfolio of gold projects in Nevada. CORRECTION TO LONG CANYON MENTION IN YEAR-END RESULTS RELEASE There is an error in the March 30, 2009, press release ("Fronteer reports 2008 fiscal results"). In the first bulleted paragraph, the Long Canyon resource's 363,000 indicated ounces are mistakenly identified as "measured." The resource is correctly stated in the MD&A and previous Company disclosures. For more information on Sandman and Fronteer's other Nevada projects, visit: http://www.fronteergroup.com/?q=cont... 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 92.1% interest in Aurora Energy Resources (TSX:AXU), a leading Canadian uranium company. |
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