Fronteer Development Group Inc.
Fronteer Development Group Inc.: Drills Mobilized for Phase II as Check Assays I
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Fronteer Development Group Inc.: Drills Mobilized for Phase II as Check Assays
Increase Gold Grades at Dixie Lake
VANCOUVER, BRITISH COLUMBIA–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 field crews and drill rigs have
been mobilized for the Phase II drilling program on the Dixie Lake Gold Project
in Red Lake, Ontario. A 3,000 metre deep drilling program will commence Feb 1st
and is expected to last approximately 40 days.
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THE PROGRAM
The objective of the program is to test the down plunge extension of high grade
gold mineralization that was intersected in a 10-hole drill program completed in
November 2003. Gold mineralization was encountered 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. High grade gold mineralization is wide open at depth, and the
property is considered to have the potential to host a greater than 500,000
ounce gold resource.
CHECK ASSAYS INCREASE GRADE OF HIGH GRADE ZONE
Fronteer is also pleased to report that recent check assays on drill core from
the November 2003 program have increased the highest grade interval by 10.9 g/t
gold. Specifically, the interval in DL-03-08, containing visible gold, increased
from 0.6 metres @ 39.7 g/t gold to 0.6 metres @ 50.6 g/t gold (1.9 feet @ 1.5
oz/ton). This high grade intercept is part of an interval that now runs 4.0
metres @ 10.7 g/t gold (13.2 feet @ 0.30 oz/ton) including 1.5 metres of 21.0
g/t gold (5.1 feet @21.0 g/t gold). 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.
According to Fronteer’s President, Dr Mark O’Dea, “These results are
particularly encouraging as we embark on our second round of drilling on the
property to test the continuity of high grade gold shoots down plunge.” The
sheer size and vertical continuity of the 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.
Fronteer is a leading Canadian mineral exploration company primarily focused on
the discovery of gold. The Company owns and operates five active exploration
projects, three located in the prolific gold-producing Red Lake Belt and two
located in the Bear Province of the Northwest Territories and in the central
mineral belt of Labrador with the potential for discovery of gold and copper.
Fronteer is well financed and has negotiated several option and joint venture
agreements with industry partners to participate in the exploration of
Fronteer’s properties. The Company is continually evaluating and seeking
additional exploration opportunities
On behalf of Fronteer Development Group Inc.
MARK O’DEA PhD, P.Geo, President and CEO
These results have been prepared under the guidance of Dr Mark O’Dea P.Geo, who
is designated as a Qualified Person with the ability and authority to verify the
authenticity of and validity of this data. All core samples were analyzed by
ALS Chemex, North Vancouver, BC, using ICP-AES and fire assay.
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Contact:
Fronteer Development Group Inc.
Mark O’Dea
President & CEO
Phone: (604) 632-4677
Email: modea@fronteergroup.com
Website: www.fronteergroup.com
or
European Investor Relations
Contact:
Baltic Investment Group
tel:011 49 172 4490789
end of message, (c)DGAP 26.01.2004
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WKN: 533050; ISIN: CA35903Q1063; Index:
Listed:
262157 Jän 04
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