Fronteer Development Corp
In Turkey, as part of a joint venture with Teck Cominco, Fronteer has a 40% interest in a new mineral district that includes two gold deposits and a third copper-gold porphyry deposit.
Fronteer Development & AuEx Ventures Extend Drilled Gold Mineralization at Long Canyon, Nevada
Dual listed Fronteer Development Group (TSX & NYSE: FRG) announced new gold drilling intercepts at the Long Canyon project in Elko County, Nevada, a joint venture with Canadian AuEx Ventures Inc (TSX: XAU) . The new drill results extend drilled gold mineralization by an additional 500m, and the results include average grades of 0.089 ounces per US ton over 99.5 feet.
Fronteer is operator and holds 51% of in Long Canyon, while AuEx own the remaining 49%. The Long Canyon gold deposit consists of a series of multiple, parallel, north- to northeast-directed zones aggregating 800 to 1,000 feet in width with a current strike length of approximately 1.36 miles (2.2 km).
This most recent, 2009 drilling campaign took the form of step out drilling towards the southwest. Three new holes have returned near-surface oxide gold intercepts, demonstrating that the deposit is evolving and growing, Fronteer said.
The drilling highlights show that the closest of the step-out holes had the highest average grades at 3.06 grams per ton over 30.3 metres, including a higher grade concentration of 10.20 grams per ton over 5.6 metres in LC329C which was a 50-metre step-out hole.
The other two holes had average grades of 1.0 gram per ton over 12.2 metres and 1.65 grams per ton over 6.9 metres in the 400m step out LC311C hole and the 500m step-out intercepted an average of 2.57 grams per ton over 3.6 metres in LC303C.
According to the drilling update the Long Canyon gold deposit continues to grow within the 12,000 acre property. All mineralization encountered to date in the 2009 drilling program continues to be oxidized, shallow and open to extension.
The balance of this year's work-program will be focused on step-out drilling beyond the limits of the current resource area, as well as testing the mineralization potential at depth underlying the currently defined resource. Four drill rigs are currently turning on the property.
In addition to continuing exploration drilling, other activity underway includes further metallurgical evaluation based on large diameter ("PQ") core recovered earlier this year and preparation of a NI 43-101 compliant Preliminary Economic Assessment (PEA) which should be completed before year end.
An updated resource estimate for Long Canyon is planned for completion in the 1st quarter 2010 incorporating data from the 2009 drilling campaign.
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Other Fronteer Development Corp news
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21/12/09 Fronteer and AuEx continue to hit near surface gold mineralisation with infill drilling at Long Canyon
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22/07/09 Fronteer Development options into Redstar’s Carlin trend property in Nevada
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16/07/09 Fronteer starts permitting for underground access at Northumberland gold deposit in Nevada
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16/06/09 Fronteer Development reports further promising results from drilling Sandman gold project in Nevada
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10/06/09 Fronteer Developments to take 9.3 pct stake in East Asia Minerals
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27/04/09 Fronteer Development says tests at Long Canyon return 90 pct+ gold recoveries
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