Vancouver – The first of Fronteer Development Group’s (FRG-T) diamond drill holes into the oxide zone of the Kirazli deposit has come up with higher grades than the previous reverse circulation holes.
The Kirazli property situated in western Turkey is under option to Fronteer from Teck Cominco.
Fronteer is testing the oxide zone of Kirazli’s high sulphidation epithermal system by drilling 3,000 metres and using results from the previous RC holes to guide the program.
Fronteer reported 12.23 grams gold per tonne over 39.4 metres starting from 43.3 metres down the first hole, which contains 44.01 grams gold over 9.1 metres followed by 2.69 grams gold over 30.3 metres.When cut to 0.5 gram gold, the hole contains 4.54 grams gold over 115.7 metres.
The drill hole bottomed in gold mineralization at a depth of 223 metres where it intersected 8.7 metres grading 1.55 grams gold.
Fronteer recently acquired the RC drill data from Eldorado Gold’s reverse circulation drilling in the early 1990s. Significant intercepts included 13.7 grams gold over 19.5 metres; 1.9 grams gold over 103.5 metres and 6.3 grams gold over 8.8 metres in separate holes.
Fronteer is also exploring the Agi Dagi project and three other less advanced projects in western Turkey through the option agreement with Teck.Shares in the company were up sharply and closed at an even $2.00 on the Toronto Stock Exchange.
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