Vancouver — Fronteer Development Group (FRG-T) plans to commence drill programs on its Dixie Lake, Swain-Sol D’Or and Birch-Uchi gold projects in Ontario as well as its Long Tom iron oxide gold copper project in the Northwest Territories.
With 11,000 metres of drilling planned, this year will be extremely active for Fronteer Development.
At the Dixie Lake project in the Red Lake gold camp in Ontario, Fronteer is gearing up to drill 3,000 metres in early February. The program will test the down plunge extension of gold mineralization discovered in November of 2003. The earlier drilling campaign cut 4.7 metres averaging 8.1 grams gold per tonne, including 3.0 metres averaging 10.6 grams gold and 0.6 metres averaging 39.7 grams gold. The high grade gold mineralization remains open at depth.
At the Swain-Sol D’Or gold project, also in the Red Lake gold belt, Fronteer is planning another 3,000 metre drill program for mid-February. Drilling will test a newly discovered 4 km long gold-bearing zone (Sol D’Or gold trend) that Fronteer believes has high grade and large tonnage potential. The zone was discovered in the summer of 2002. Earlier drill holes cut 6.0 metres averaging 2.0 grams gold.
Fronteer holds a number of other drill ready targets on the property, including the Beaver Pond showing which returned assays from surface grab samples of 55 grams gold and 2.1% copper, and the No. 7 Vein and Sol D’Or mine which returned historic grab values of 2.18 ounces gold per ton and an average grade of 0.56 ounces gold per ton, respectively.
At the Birch-Uchi gold project, Fronteer intends to drill another 3,000 metres commencing in mid-February. This program will test the junior’s newest gold discovery, a gold target that strikes for 3 km and is 500 metres wide. It has never been drill tested.
Fronteer will drill 2,000 metres at the company’s Longtom project in the Northwest Territories in mid-August. The program will test a series of coincident gravity, magnetic and IP anomalies that are part of a large Olympic-Dam-style mineralizing system that measures over 7.5 km long. The Longtom property is one of three iron oxide copper gold properties in the Bear Province that Fronteer will explore next summer.
Fronteer and Altius Minerals (ALS-V) are jointly exploring several properties in the Central Mineral Belt of Labrador. The partners are specifically looking for Olympic Dam-type copper-gold-silver deposits. Next summer’s exploration program will consist of airborne geophysical surveys and detailed ground follow up programs. Drill ready targets are expected by September 2004.
Fronteer has a number of joint venture partners on its projects including;
- Placer Dome (PDG-T) is earning a 65% interest in a number of Fronteer’s properties in the Red Lake Belt by spending $2.5 million on exploration over 5 years. Fronteer is the operator.
- Red Lake Resources (RL-V) is earning a 50% interest in two of Fronteer’s projects in the Red Lake Belt by spending $750,000 on exploration over 4 years. Fronteer is the operator.
- Alberta Star (ASX-V) is earning a 50% interest in Fronteer’s Dixie Lake gold project by spending $2.0 million on exploration over 3 years. Fronteer is the operator.
- NW Mineral Ventures is earning a 50% interest in six of Fronteer’s properties in the NWT by spending $5.0 million over 5 years. Fronteer is the operator.
- Altius Minerals and Fronteer are in a 50-50 joint venture in the Central Mineral Belt of Labrador exploring for iron oxide copper gold deposits. Fronteer and Altius are sharing operatorship.
Fronteer has no debt, $3.5 million in working capital and 21 million shares outstanding.