Fronteer Development Group Inc.
Fronteer Adds Silver Discovery to New Gold Zone in Western Turkey
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Fronteer Adds Silver Discovery to New Gold Zone in Western Turkey
VANCOUVER, British Columbia–(BUSINESS WIRE)–Nov. 23, 2004–Fronteer (TSX:FRG
– News) is pleased to announce it has intersected 588 g/t silver and 0.5 g/t
gold, for a combined result of 10.5 g/t gold equivalent over 15.4 metres from
drill hole AD-105 on the Agi Dagi Project.
Drill hole AD-105 is situated 137 metres to the south of previously announced
hole AD-92, which was also rich in silver, returning 3.0 g/t gold equivalent
over 51 metres.
Fronteer also announces that it has intersected 37.9 metres of 1.5 g/t gold
equivalent in hole AD-108, situated 100 metres to the north of hole AD-92.
DELI ZONE DRILL HIGHLIGHTS
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Gold Silver Gold
Hole ID From To Width Grade Grade Equivalent
(m) (m) (m) (g/t) (g/t) (g/t)
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AD-105 18.5 43.1 24.6 0.3 398.0 7.1
incl. 23.6 39.0 15.4 0.5 588.0 10.5
AD-105 92.7 112.9 20.2 0.95 0.8 0.96
AD-92 49.5 100.5 51.0 2.3 41.0 3.0
AD-108 167.7 205.6 37.9 1.3 7.5 1.5
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Values for gold equivalent were calculated based on a gold price of
$428 and a silver price of $7.30.
Based on results to date, precious metal mineralization has been intersected
in six widely spaced holes over a length of 500 metres, running north to south
across the northeast end of the property. Additional holes in this new
discovery zone (called the Deli Zone) are currently being completed and assay
results are pending.
Fronteer has had rapid success in expanding the resource potential of the Agi
Dagi Project. Drilling in the Deli Zone has intersected thick intervals of
near surface oxide mineralization, with shallow geometries favorable to open
pit extraction. The Deli Zone has the potential to match or exceed the size
and grade of the historic resource area, located at the southwest end of the
property.
The Agi Dagi Project is under option from Teck Cominco Arama ve Madencilik
Sanayi Ticaret A.S.
Fronteer is a Discovery-Stage exploration company with active exploration
programs in Canada and Western Turkey, focused on gold and uranium deposits.
Assay results have been prepared under the guidance of Dr Rick Valenta 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 samples were
analyzed by ALS Chemex, North Vancouver, BC, using ICP-AES and fire assay.
This News Release includes certain “forward looking statements” within the
meaning of the United States Private Securities Litigation Reform Act of 1995.
Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company
are forward looking statements that involve various degrees of risk. The
following are important factors that could cause Fronteer’s actual results to
differ materially from those expressed or implied by such forward looking
statements: changes in the world wide price of mineral commodities, general
market conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the uncertainty of
future profitability and the uncertainty of access to additional capital.
Fronteer Development Group Inc. (TSX:FRG – News)
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Contact:
Fronteer Development Group Inc.
Mark O’Dea
President & CEO
(604) 632-4677
or
Fronteer Development Group Inc.
Dan McIntyre
Corporate Communications
(604) 632-4677
Email: info@fronteergroup.com
Website: http://www.fronteergroup.com
Ende der Mitteilung, (c)DGAP 23.11.2004
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WKN: 533050; ISIN: CA35903Q1063; Index:
Notiert:
231925 Nov 04
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