Fronteer (OTCBB:FTDGF) (TSX:FRG) (FWB:FRR) is pleased to announce that is has intersected significant oxide gold mineralization in its first drill hole on the Kirazli Project in western Turkey.
Diamond Drill Hole KD-01 intersected a high grade zone of 44.01 g/t gold over 9.1 metres followed by an additional zone of 2.69 g/t gold over 30.3 metres, for a total intercept of 12.23 g/t gold over 39.4 metres. Using a cut-off of 0.5 g/t gold, the hole contains an overall intercept of 4.54 g/t gold over 115.7 metres. The drill hole bottomed in gold mineralization at a depth of 223 metres. All high grade assays are uncut.
KD-01 was a confirmation hole designed to test the width and grade of a previously intersected high grade zone on the property. Fronteer's diamond drill results are comparable to historic reverse circulation intervals.
KD-01 is Fronteer's first hole of a 3,000 metre diamond drill campaign on the Kirazli property, which will continue through 2005 (see Fronteer's website for further details, including detailed assay results).
KD-01 was drilled at -60 degrees and the geometry of the hosting structures are interpreted to have a sub-vertical component. At present there is insufficient data available to determine the true width of the gold intervals.
The Kirazli Property is under option to Fronteer from Teck Cominco Arama ve Madencilik Sanayi Ticaret A.S.'s ("Teck Cominco").
Fronteer is a Discovery-Stage exploration company with active exploration programs focused on gold in Western Turkey and on gold and uranium-copper deposits in Canada.
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.