June 5th
Fronteer\'s Northumberland Gold Deposit Increases in Size and Significance
Fronteer Development Group Inc. (\"Fronteer\" or the \"Company\") (TSX: FRG)(AMEX: FRG) is pleased to announce that a new resource estimate for its 100%-owned Northumberland gold project has increased the deposit\'s size and advanced its production potential on multiple fronts.
The Northumberland project represents one of the largest undeveloped Carlin-style deposits in Nevada. The updated resource estimate, incorporating a new 3-D geological model and three years of drill results, has increased Northumberland\'s gold-equivalent resource estimate by 28%. The resource now comprises a Measured and Indicated (\"M&I\") resource of 2.44 million ounces and an inferred resource of 0.82 million ounces.
The new open-pit and underground resource estimate (oxide and sulphide) also:
- Identifies new near-surface and down-dip areas open for expansion;
- More than doubles the gold ounces in the measured category;
- Increases the open-pittable, gold-equivalent resource to 2.41 million ounces (M&I);
- Adds a new indicated resource of 9.06 million ounces of silver; and
- Reveals exceptional continuity of mineralization and grade over hundreds of metres, allowing for a reclassification of ounces to higher confidence levels.
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Published: 05 June 2008
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Written by Editor
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Read more: Fronteer Development Group Inc ( FRG )