Fronteer Development Group Inc.
FRONTEER AND ALBERTA STAR INTERSECT HIGH GRADE GOLD ON DIXIE LAKE PROPERTY
Corporate-news announcement processed and sent by DGAP.
The sender is solely responsible for the contents of this announcement.
——————————————————————————–
FRONTEER AND ALBERTA STAR INTERSECT HIGH GRADE GOLD ON DIXIE LAKE PROPERTY
Fronteer Development Group Inc. (FRG – Toronto Stock Exchange, FRR – Frankfurt
Stock Exchange) and Alberta Star Development Corp (ASX – TSX-V) are pleased to
announce that drilling on the Dixie Lake Property has intersected high grade
gold mineralization. Gold mineralization was intersected in all 10 holes and a
five metre interval containing visible gold was intersected at a depth of 110
metres confirming the vertical continuity and depth potential of this large gold
bearing system.
This Phase I drilling program has demonstrated that the 88-4 zone is open down
dip and that high grade gold mineralization is hosted within steeply plunging
shoots. According to Fronteer President Dr Mark O’Dea “We have successfully
tested our exploration model and confirmed the presence and continuity of high
grade gold shoots within the resource area, which can be traced and confirmed
down plunge.” Fronteer and Alberta Star are extremely encouraged by their drill
results to date and are planning a comprehensive follow up deep drill program
to begin systematically testing the potential of the property to host a >500,000
ounce gold resource.
DRILLING HIGHLIGHTS
– Hole DL-03-08 intersected a 5 metre interval containing visible gold that
returned 4.7 metres of 8.1 g/t gold including 3.0 metres of 10.6 g/t gold and
0.6 metres of 39.7 g/t gold.
– Hole DL-03-06 returned 17.0 metres of 2.9 g/t gold including two high grade
intercepts: 0.5 metres of 12.4 g/t gold and 4.3 metres of 5.8 g/t gold including
0.9 metres of 12.0 g/t gold.
– Hole DL-03-05 returned 21.0 metres of 1.8 g/t gold including 4.0 metres of 3.0
g/t gold and 1.2 metres of 5.3 g/t gold.
– Hole DL-03-01 returned 8.3 metres of 2.0 g/t gold including 2.5 metres of 3.9
g/t gold
Hole DL-89-09, in which Teck Corp intersected 2.8 metres of 15.6 g/t gold at a
depth of 40 metres, was undercut by DL-03-06 at a depth of 65 metres. Hole DL-
03-08 and DL-03-05 also tested the down plunge extension of this high grade gold
shoot at depths of 110 metres and 245 metres respectively.
In addition to the 88-4 zone, 1 exploration hole was drilled into a distict
structural and geophysical target with an untested strike length of over 600
metres, situated 800 metres to the north of the 88-4 zone. The hole intersected
a broad zone (>100 metres) of gold enrichment including 29.68 metres of 0.56
g/t gold. This new zone is an important new discovery on the property that has
significant growth potential. According to Fronteer’s project manager Lucas
Marshall, “DL-03-10 intersected a broad zone of pyrite-sericite alteration,
characteristics of many lode gold systems. There is significant potential in
and adjacent to this zone to discover discrete high grade gold shoots.”
This round of drilling has intersected the 88-4 zone at vertical depths of
between 65 metres and 305 metres. The next round of drilling, which will be
commencing shortly, will follow the high grade gold bearing zone to depths of at
least 600 metres. The sheer size and vertical continuity of the large gold
bearing system on the Dixie Lake Property indicate that it has the potential to
expand and develop into a Red Lake Belt-style deposit. Bearing in mind that the
average grade of Goldcorp’s Red Lake Mine between 1948 and 1996 was 11.8 g/t
gold, the results obtained at Dixie Lake indicate that the property hosts Red
Lake style grades over mining widths.
Fronteer is a dynamic and well-funded gold exploration company that owns and
operates five active gold (and copper-gold-silver) projects in Canada. In
addition to further drilling on the Dixie Lake Project, the Company will be
drilling three other projects in the first quarter of 2004.
On behalf of Fronteer Development Group Inc.
“Mark O’Dea”
MARK O’DEA PhD, P.Geo
President and CEO
For further information on Fronteer visit http://www.fronteergroup.com
or contact
Mark O’Dea, President & CEO
604-632-4677 (Phone)
modea@fronteergroup.com
end of message, (c)DGAP 02.12.2003
——————————————————————————–
WKN: 533050; ISIN: CA35903Q1063; Index:
Listed:
022125 Dez 03
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden