-Frontier Resources Ltd. - Variable Gold and Weak Copper Mineralization Demonstrated in Bulago Holes 002-006.
ENP Newswire - 22 October 2012
Release date- 19102012 - Frontier Resources Ltd announces assay results from drill holes BUL002 through BUL006 targeting porphyry copper -gold at EL 1595 - in Papua New Guinea.
Nine drill holes have been completed by OTML at Bulago for 3,302.9m, including 2 holes at the Suguma high-grade gold Prospect.
Assay results for Holes BUL002 - BUL006 are reported herein. Assay results for holes BUL007, SUG001 and SUG002 are yet to be returned.
Each of the holes returned one or more intercepts of Mineralization with greater than 1.0 g/t gold and hole BUL002 demonstrated 63.2m grading 0.12% copper + 0.10 g/t gold.
Peak results included 5.9m of 1.71 g/t gold in hole BUL003, with up to 0.22% copper, 17.4 g/t silver and 118 ppm molybdenum.
Previously announced hole BUL001 returned (at 0.1% Cu cutoff) 124m grading 0.13 % copper + 0.06 g/t gold (from 119 to 243m), plus 76.1m grading 0.15% copper + 0.16 g/t gold (from 267 to 343.1m), plus 12.7m grading 0.11% copper + 0.10 g/t gold (from 371.8 to 384.5m) and 21m grading 0.42g/t gold + no significant copper (from 407 to 428m), including 3m of 2.04 g/t gold.
The strongest copper in soil geochemistry zone in the central north of the grid remain to be drilled. EL 1595 is part of an Earn-In Joint Venture with OK Tedi Mining Ltd, who are earning 58% by expending $US 12 million within 6 years. OTML have been undertaking systematic ridge and spur soil sampling to complement Frontier's historic grid based work. This work will provide excellent geochemical coverage and enhanced vectoring for future drilling.
The geochemistry indicates two possible mineralization events, a copper event with some gold and a gold only event. The 0.2% copper and 0.1 g/t gold cut off grades failed to adequately define the Mineralized zones in the holes and a 0.1% cut off was used with limited internal dilution. Zones were defined by similar geochemistry. Weighted drill assay results, assay highlights and drill collar information are tabulated rein.
Core from holes BUL002- 006 was cut in half onsite longitudinally by diamond bladed cut-off saw. Half core was sampled as appropriate relative to geology; they were flown to Tabubil for sample preparation and were assayed by Australian Analytical Laboratories in Townsville by fire assay (50g charge) for gold and ICP for copper, molybdenum, silver, lead, zinc, arsenic and other elements. Suitable internal standards are used as appropriate.
EL 1595 - Bulago is located in PNG between the World Class OK-Tedi porphyry copper-gold and the Porgera epithermal/intrusive related gold Deposits. Targets are porphyry copper- gold, high-grade epithermal gold and skarn gold deposits.
The prospects are located in a 4.5km x 6km well-defined gold, zinc and copper drainage anomaly covering a recessive intrusive in a sub-circular drainage basin, with anomalism continuing up to the peripherallimestones (demonstrating skarn potential). The Suguma Prospect has very high gold grades in structures and is located in the NW of the grid.
For additional information relating to Frontier Resources, please visit the Company's website at www.frontierresources.com.au
Frontier Resources Ltd.Level 4, 66 Kings Park RoadWest Perth WA 6005Tel: +61 (0)8 6141 3500Fax: +61 (0)8 6141 3599
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