FNT 0.00% 0.7¢ frontier resources limited

fnt on crest of significant png porphyr system

  1. 2,036 Posts.
    lightbulb Created with Sketch. 16
    Frontier Resources on crest of significant Papua New Guinea porphyry copper gold system
    Tuesday, October 11, 2011 by Proactive Investors

    Frontier Resources (ASX: FNT) has received the first results from its 10,000 metre diamond drilling program at Andewa in Papua New Guinea, which indicates Frontier could be drilling into the upper sections of a higher tonnage, lower grade, major porphyry copper - gold mineralised system.

    Assay results from diamond drill hole ADH 001 returned results of 48.5 metres grading 1.02 grams per tonne (g/t) gold and 0.38% copper, within a wider intersection of 93.2 metres at 0.78g/t gold and 0.3% copper from 166 metres.

    Results from the first diamond drill hole assayed, along with textures, lithologies and mineralisation from all five holes cored to date indicate that the company is drilling into the upper sections of a major porphyry copper-gold mineralised system.

    The intercept from the top of the copper envelope to the bottom of the gold and copper envelope is 190.1 metres grading 0.55g/t gold and 0.24% copper.

    ADH 001 is consistently mineralised with gold greater than 0.1g/t from the surface to 325.2 metres down hole and thereafter more erratically (but including to 2 metres of 1.11g/t gold).

    Copper ranges from 0.05% to 0.1% to 135 metres, is consistently mineralised greater than 0.1% from 135 metres to 325.2 metres and becomes more erratic thereafter to end of hole.

    Holes ADH 002, 003, 004 and 005 were completed on the second drill pad, 2,700 linear metres north-east of ADH 001.

    Variable copper and molybdenum mineralisation is visible in the holes and selected core photos. Assays for ADH 002 will be announced when returned and collated.

    The drill rig has been shifted to start hole ADH 006, 700 metres further north of holes ADH 002-005, targeting the northern extension of mineralisation.

    Frontier began the 10,000 metre drilling program at Andewa on July 1, 2011, targeting world class porphyry copper-gold-molybdenum and epithermal gold-silver deposits associated with three anomalies that cover 7 square kilometres, as well as large resistivity anomalies.

    So far 1,910 metres has been drilled over the five holes.

    Frontier has been pursuing exploration at a number of projects in Papua New Guinea and Tasmania after raising more than $7.3 million through a placement and share purchase plan in May 2011.

    Clearly, with drill results to date, Andewa Gold Project is shaping up as a potentially a large higher tonnage, lower grade porphyry copper - gold mineralised system for Frontier.
watchlist Created with Sketch. Add FNT (ASX) to my watchlist
(20min delay)
Mkt cap ! $3.423M
Open High Low Value Volume
0.7¢ 0.7¢ 0.7¢ $19.00K 2.714M

Buyers (Bids)

No. Vol. Price($)
4 4400000 0.6¢

Sellers (Offers)

Price($) Vol. No.
0.7¢ 2878979 2
View Market Depth
Last trade - 15.38pm 02/04/2020 (20 minute delay) ?
0.000 ( 0.00 %)
Open High Low Volume
0.7¢ 0.7¢ 0.7¢ 485460
Last updated 15.38pm 02/04/2020 (live) ?
FNT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.