Fronteer Development Group Inc. 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.