Drilling Extends Strike 400 Metres at Fronteer’s Long Canyon Gold Project
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 29, 2008) – Fronteer Development Group Inc. (“Fronteer” or the “Company”) (TSX:FRG)(AMEX:FRG) is pleased to announce that step-out drilling has extended high-grade, oxide gold mineralization by 400 metres along strike at its Long Canyon Project in Nevada.
The 400-metre (1,312 feet) step-out from the most northeastern drill hole returned:
– 2.53 grams per tonne gold (0.074 oz/ton) over 33.5 metres (110 feet), including 13.18 g/t (0.385 oz/ton) over 4.6 metres (15 feet), starting at a depth of 93.0 metres (305 feet), in hole LC129.
This aggressive step-out not only confirms the strength and continuity of gold mineralization along trend, but extends the total strike length by 30 per cent to 1.6 kilometres (one mile). The gold system remains open in all directions.
New drilling has also further defined a new parallel zone of mineralization, referred to as the Shadow Zone (See Aug. 19, 2008, press release). Drill results from this new zone include:
– 1.68 g/t (0.049 oz/ton) over 73.2 metres (240 feet), including 13.33 g/t (0.389 oz/ton) over 3.1 metres (10 feet), in LC113.
Approximately 13,300 metres (43,600 feet) of drilling has been completed at Long Canyon this year. Long Canyon’s program budget is planned to increase from US$3.2 million to US$5.6 million to allow for ongoing drilling, preliminary metallurgical studies and resource estimation. A project-first NI 43-101 resource estimate is planned for year end.
Ongoing drilling, detailed mapping and geophysical work continue to contribute to the understanding of gold mineralization at Long Canyon, located 6.5 km (4 miles) south of the I-80 Freeway corridor in northeastern Nevada. Mineralization is sediment-hosted and associated with fault and collapse breccias along a stratigraphic limestone-dolomite contact. The deposit is strongly oxidized and is exposed at surface.
Fronteer has a majority interest (51%) in Long Canyon and is the project operator. Under the terms of the earn-in agreement, AuEx Ventures Inc. (“AuEx”) (49%) has elected to participate in pro-rata joint funding of the Long Canyon project. Fronteer has until December 10, 2008 to notify AuEx if it elects to earn an additional 14% interest in the project for a total of 65% by carrying all further costs through the completion of a feasibility study within five years.
LONG CANYON DRILL RESULTS ——————————————————————– —— ________________________ Inter-______________________________ Inter- __________________________cept____________Au__ From____ To____ cept __________ From____ To__Length____ Au____(oz/__(met-__(met- __Length____ Au Hole ID__ (feet) (feet)__(feet)__(ppb)__ ton)__ res)__ res) (metres)__(gpt) ——————————————————————– —— ——————————————————————– —— LC112________85____105______20____369__0.011__ 25.9__ 32.0______6.1__ 0.37 ——————————————————————– —— ____________320____340______20__ 1153__0.034__ 97.5__103.6______6.1__ 1.15 ——————————————————————– —— LC113______ 245____485____ 240__ 1684__0.049__ 74.7__147.8____ 73.2__ 1.68 ——————————————————————– —— including__ 310____320______10__13326__0.389__ 94.5__ 97.5______3.1__13.33 ——————————————————————– —— LC115______ 200____225______25____989__0.029__ 61.0__ 68.6______7.6__ 0.99 ——————————————————————– —— ____________230____280______50__ 2842__0.083__ 70.1__ 85.3____ 15.2__ 2.84 ——————————————————————– —— including__ 255____260______ 5__ 9390__0.274__ 77.7__ 79.2______1.5__ 9.39 ——————————————————————– —— including__ 265____270______ 5__ 5910__0.173__ 80.8__ 82.3______1.5__ 5.91 ——————————————————————– —— ____________325____345______20____528__0.015__ 99.1__105.2______6.1__ 0.53 ——————————————————————– ——
___________355____370______15____638__0.019__108.2__112.8______4.6__ 0.64 ——————————————————————– —— LC116______ 320____345______25____919__0.027__ 97.5__105.2______7.6__ 0.92 ——————————————————————– —— LC118______ 285____315______30____550__0.016__ 86.9__ 96.0______9.1__ 0.55 ——————————————————————– ——
______355____370______15____599__0.017__108.2__112.8______4.6____0.6 ——————————————————————– —— LC119________80____ 95______15__ 1810__0.053__ 24.4__ 29.0______4.6__ 1.81 ——————————————————————– —— ____________100____150______50__ 2917__0.085__ 30.5__ 45.7____ 15.2__ 2.92 ——————————————————————– —— LC120________70____100______30____796__0.023__ 21.3__ 30.5______9.1____0.8 ——————————————————————– —— ____________400____445______45__ 3422____0.1__121.9__135.6____ 13.7__ 3.42 ——————————————————————– —— including__ 420____435______15__ 7210__0.211__128.0__132.6______4.6__ 7.21 ——————————————————————– —— LC124______ 330____425______95__ 2341__0.068__100.6__129.5____ 29.0__ 2.34 ——————————————————————– ——
___________455____465______10____567__0.017__138.7__141.7______3.0__ 0.57 ——————————————————————– —— LC125______ 165____205______40__ 3678__0.107__ 50.3__ 62.5____ 12.2__ 3.68 ——————————————————————– —— including__ 175____185______10__ 8615__0.252__ 53.3__ 56.4______3.0__ 8.62 ——————————————————————– —— LC126________50____120______70__ 2046__ 0.06__ 15.2__ 36.6____ 21.4__ 2.05 ——————————————————————– —— LC129______ 305____415____ 110__ 2527__0.074__ 93.0__126.5____ 33.5__ 2.53 ——————————————————————– —— including__ 385____400______15__13176__0.385__117.3__121.9______4.6__13.18 ——————————————————————– —— – The geometry of mineralization at Long Canyon is still being determined. __The current geological model predicts that the true widths of the __mineralized intervals vary between 70-100% of the reported lengths of the __drill intercepts. Holes LC095C, LC97C, LC108, LC109 and LC110 had no __reportable intercepts. See link to PDF for comprehensive drill results.
– Drill map: www.fronteergroup.com/sites/fronteer_admin/ LongCanyonDrillMap0822.pdf
– Drill results: www.fronteergroup.com/sites/fronteer_admin/ LongCanyonDrillResults0822.pdf
Robert Felder, M.Sc. and Certified Professional Geologist, as recognized by the American Institute of Professional Geologists, is designated as a Qualified Person for these Long Canyon drill results, with the ability and authority to verify the authenticity of, and validity of, this data. Drill composites were calculated using a cut-off of 0.30 g/tonne. Drill intersections are reported as drilled thicknesses. Reverse circulation cuttings were sampled on 5.0 ft. (1.52m) intervals and core was sampled at geologically selected intervals. All drill samples were assayed by American Assay Laboratories (ISO9002:2002) in Sparks, Nevada, for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 10.0 grams per tonne Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. QA/QC included the insertion of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 72-element geochemical suite by ICP-MS.
Fronteer is not invested in any short-term commercial paper or asset-backed securities. Fronteer has approximately C$86 million in cash that is fully liquid and held with a large Canadian commercial bank.
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 42.2% interest in Aurora Energy Resources (TSX:AXU), a leading Canadian uranium company.
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, timing of resource calculation 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 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’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.
NEWS RELEASE 08-22
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