Fronteer Development Group Inc.
FRONTEER INTERSECTS HIGH GRADE URANIUM IN DRILL PROGRAM
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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FRONTEER INTERSECTS HIGH GRADE URANIUM IN DRILL PROGRAM
September, 15th 2004 : Fronteer Development Group Inc. (FRG – Toronto Stock
Exchange, FRR – Frankfurt Stock Exchange) and Northwestern Mineral Ventures
Inc. (TSX-V: NWT, OTCBB: NWTMF, Frankfurt: NMV) are pleased to announce that
they have intersected high grade Uranium mineralization in a recent drill
program on their Longtom Property in the NWT. Drilling intersected:
· 1.68% U3O8 over 1.0 metre at a down hole depth of 80 metres. This
Uranium intercept was part of a broader interval that returned 0.56% U3O8
over 3.0 metres.
· 0.16% U3O8 over 1.0 metres was intersected at a depth of 51 metres
in the same hole.
Previous drill campaigns by other operators of the property (Tyhee
Development Corp and Alberta Star Development Corp.) also intersected
anomalous to high grade Uranium. Within a 300 metre radius of Fronteer’s
new high grade discovery, eight historic drill holes intersected uranium
mineralization with values ranging between:
· 0.21% U3O8 over 0.6 metres at a down hole depth of 45 metres and
· 0.48% U3O8.over 1.5 metres at a down hole depth of 59 metres.
Based on recent drill hole results and historical results in the surrounding
area, there are indications of a near surface uranium system, that has both
size and high grade potential.
Fronteer’s summer 2004 program completed 2100 metres of drilling to test the
copper-gold-silver-uranium targets based on surface mineralization,
geophysical data and historic drilling results. Other significant results
include:
· 0.19% copper over 15 metres at a down hole depth of 37 metres
· 0.14% cobalt over 6 metres at a down hole depth of 185 metres
Northwestern Mineral Ventures is earning a 50% interest in the Property by
completing $5.0 million in exploration work by September 2008. Based on
Uranium’s current spot price of $19.50/lb and its longer term price
projections, Northwestern’s management has asked Fronteer, as operator, to
prepare a follow up program on the Longtom property, to explore and expand
Uranium targets over the course of the next year.
Fronteer is a Discovery-Stage exploration company with clear and immediate
growth potential. With an outstanding project portfolio and a solid
management team, Fronteer is poised for success.
For further information on Fronteer visit www.fronteergroup.com or contact:
Mark O’Dea, President & CEO
604-632-4677 (Phone)
modea@fronteergroup.com
end of message, (c)DGAP 15.09.2004
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WKN: 533050; ISIN: CA35903Q1063; Index:
Listed:
151200 Sep 04
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