Fronteer Development Group Inc.
Monday, July 23rd, 2007
Fronteer Development Group Inc. announce that thick intervals of copper-gold mineralization have been intersected in new widely spaced drilling at its Hoover property in the Wernecke Mountains of north-central Yukon.
These new results, combined with nine historical drill holes completed in the mid-1990â€™s, suggest Hoover has significant tonnage potential and may form an important deposit component in this emerging mineral district.
The most encouraging results to date have returned:
1. 0.56% copper and 0.11 grams per tonne gold over 89 metres, including 0.82% copper and 0.17 grams per tonne gold over 39 metres in HV07-22.
2. 0.86% copper and 0.22 grams per tonne gold over 16 metres in HV07-21.
â€œThese results are an appealing start to this yearâ€™s drill program and highlight the growing similarities in styles of mineralization between this poorly understood, underexplored part of Canada and the Olympic Dam district of South Australiaâ€ says Dr. Mark Oâ€™Dea, Fronteer President and CEO.
The eight widely spaced drill holes (2,400 metres) now completed at Hoover are part of an ongoing 10,000-metre drill program. Hoover remains open for further expansion to the north and south and at depth. In addition to the copper-gold-uranium identified at Hoover, there are other new significant copper, gold and uranium occurrences throughout Fronteerâ€™s 450-square-kilometre Wernecke land package that will be drilled in the 2007 drilling program.
The Wernecke exploration program is operated by Fronteer, and funded pro-rata by the Company (80%) and its joint venture partner Rimfire Minerals Corp (20%).
Hoover drill results returned to date are as follows:
Hole_ID, From(m), To(m), Interval(m), Cu(%), Au(g/T)
HV07-19 214.80 238.00 23.20 0.39 0.21
and 264.60 313.00 48.40 0.28 0.12
HV07-21 119.00 135.40 16.40 0.86 0.22
and 191.00 214.20 23.20 0.41 0.05
and 273.40 350.00 76.60 0.23 0.11
HV07-22 79.70 168.20 88.50 0.55 0.11
incl 119.00 155.00 39.00 0.82 0.17
HV07-23 20.70 39.10 18.40 0.08 0.01
HV07-24 55.00 67.00 12.00 0.01 0.09
HV07-25 170.00 254.00 84.00 0.12 0.08
For a map showing the distribution of new and historic drilling at Hoover, please follow the link: