10th May 2010 07:00
10 May 2010
FRONTIER MINING LTD
("Frontier" or the "Company")
New Infill Drilling Results at the Benkala Copper Project
Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development company focused on Kazakhstan, is pleased to announce an update of results from its infill drilling programme at its 50% owned Benkala Copper development project in north-western Kazakhstan. Benkala is managed by KazCopper LLP ("KazCopper"), the joint-venture company.
As previously announced in 2009 and early 2010, KazCopper undertook a 54 hole (approximately 6,700 meters) drilling program primarily designed to confirm the oxide zone of the Benkala deposit, which will enable KazCopper to utilise conventional SX-EW processing technology. Of the 54 holes, 48 holes were drilled to depths of 33 to 200 meters (with approximately 4,800 meters drilled in oxide ore) and six holes were drilled to depths of 230 - 350 meters (with approximately 1,800 meters drilled in primary ore).
Over 4,500 assay samples were collected during the drilling program and sent to the Geoplazma laboratory in Kazakhstan. Independent sampling checks are being carried out by the Alex Stewart laboratory in Kyrgyzstan. As of 4 May, 2010, KazCopper has received assay results for 8 holes. The results are summarised below, based on a 0.25% cut off grade. Full assay results are presented in the table at the end of this release.
|
Drill Hole |
Interval (Meters) |
% Copper |
|
111-4 |
19.5 |
0.74 |
|
115-3 |
6.0 |
0.58 |
|
115-5 |
44.0 |
0.60 |
|
115-8 |
10.5 |
0.33 |
|
116-6 |
31.0 |
0.55 |
|
117-5 |
45.5 |
0.92 |
|
117-5 |
27.0 |
0.59 |
|
117-6 |
33.5 |
0.52 |
|
Total |
227.0 |
|
|
Average Grade |
0.63 |
|
As shown in the table below, the results from the first eight holes indicate slightly higher (0.63%) copper grades compared to the historical (Soviet 1976-1980) drilling data which indicated an average copper content for the Benkala deposit of 0.55%.
|
|
Avg. Interval (Meters) |
Avg. Copper % |
|
8 New Frontier Drill Holes |
28.38 |
0.63 |
|
Comparable Historical Soviet (1976-1980) Results |
25.54 |
0.55 |
Erlan Sagadiev, CEO of Frontier Mining commented: "Now that we are entering the production phase, we are pleased to see that these positive results continue to demonstrate the quality of the Benkala deposit. With 63% recovery in the lab tests, the ability to process the oxide cap of the deposit through conventional SX/EW processing reinforces our decision to use this technology and further supports our overall business strategy for initial production in 2011."
The Company will continue to provide updates on its drilling results and development activities at Benkala as they become available.
Qualified Person's Declaration
The information in this announcement that relates to drilling results is based on information compiled by and reviewed by Brian Savage, Director. Mr. Savage has a BSc in Mining Engineering and MSc in Mineral Economics from the Colorado School of Mines. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a Qualified Person as defined in the March 2006 Edition of the AIM Guidance Note for Mining, Oil and Gas Companies. He consents to the inclusion in the announcement of the matters based on his information in the form and context in which they appear and confirms that this information is accurate and not false or misleading.
Enquiries:
|
Frontier Mining Ltd |
George Cole |
+44 (0)20 7898 9019
|
|
Libertas Capital |
Sandy Jamieson |
+44 (0)20 7569 9695
|
|
Walbrook PR |
Bob Huxford / Leah Kramer |
+44 (0)20 7933 8780 |
Notes to Editors:
Full Assay results are presented in the following table:
|
|
Interval (Meters) |
Cut off grade 0.25% |
||||
|
Drill Hole |
Sample |
From |
to |
Length, meters |
Cu, (%) |
м*% |
|
111-4 |
3622 |
40.50 |
42.00 |
1.50 |
0.29 |
0.44 |
|
111-4 |
3623 |
42.00 |
43.50 |
1.50 |
0.67 |
1.00 |
|
111-4 |
3624 |
43.50 |
45.00 |
1.50 |
1.08 |
1,62 |
|
111-4 |
3625 |
45.00 |
46.50 |
1.50 |
1.05 |
1.58 |
|
111-4 |
3627 |
46.50 |
48.00 |
1.50 |
1.21 |
182 |
|
111-4 |
3628 |
48.00 |
49.50 |
1.50 |
1.76 |
2.64 |
|
111-4 |
3629 |
49.50 |
51.00 |
1.50 |
0.74 |
1.11 |
|
111-4 |
3630 |
51.00 |
52.50 |
1.50 |
0.63 |
0.94 |
|
111-4 |
3631 |
52.50 |
54.00 |
1.50 |
0.32 |
0.49 |
|
111-4 |
3632 |
54.00 |
55.50 |
1.50 |
0.78 |
1.17 |
|
111-4 |
3633 |
55.50 |
57.00 |
1.50 |
0.43 |
0.64 |
|
111-4 |
3634 |
57.00 |
58.50 |
1.50 |
0.34 |
0.51 |
|
111-4 |
3635 |
58.50 |
60.00 |
1.50 |
0.31 |
0.46 |
|
Total |
|
|
|
19.50 |
|
14.41 |
|
Average |
|
|
|
|
0.74 |
|
|
115-3 |
2955 |
33.00 |
34.50 |
1.50 |
0.59 |
0.89 |
|
115-3 |
2956 |
34.50 |
36.00 |
1.50 |
0.49 |
0.74 |
|
115-3 |
2957 |
36.00 |
37.50 |
1.50 |
0.92 |
1.37 |
|
115-3 |
2958 |
37.50 |
39.00 |
1.50 |
0.32 |
0.47 |
|
Total |
|
|
|
6.00 |
|
3.48 |
|
Average |
|
|
|
|
0.58 |
|
|
115-5 |
2703 |
38.00 |
39.50 |
1.50 |
0.45 |
0.67 |
|
115-5 |
2704 |
39.50 |
41.00 |
1.50 |
0.66 |
0.99 |
|
115-5 |
2705 |
41.00 |
42.50 |
1.50 |
1.01 |
1.52 |
|
115-5 |
2706 |
42.50 |
44.00 |
1.50 |
1.17 |
1.76 |
|
115-5 |
2707 |
44.00 |
45.50 |
1.50 |
1.56 |
2.34 |
|
115-5 |
2709 |
45.50 |
47.00 |
1.50 |
0.78 |
1.17 |
|
115-5 |
2710 |
47.00 |
48.50 |
1.50 |
0.76 |
1.14 |
|
115-5 |
2711 |
48.50 |
50.00 |
1.50 |
0.73 |
1.09 |
|
115-5 |
2712 |
50.00 |
51.50 |
1.50 |
0.73 |
1.10 |
|
115-5 |
2713 |
51.50 |
53.00 |
1.50 |
0.84 |
1.26 |
|
115-5 |
2714 |
53.00 |
54.50 |
1.50 |
0.72 |
1.08 |
|
115-5 |
2715 |
54.50 |
56.00 |
1.50 |
0.69 |
1.04 |
|
115-5 |
2716 |
56.00 |
57.50 |
1.50 |
1.15 |
1.73 |
|
115-5 |
2717 |
57.50 |
59.00 |
1.50 |
0.84 |
1.26 |
|
115-5 |
2719 |
59.00 |
60.50 |
1.50 |
0.70 |
1.04 |
|
115-5 |
2720 |
60.50 |
62.00 |
1.50 |
0.50 |
0.75 |
|
115-5 |
2721 |
62.00 |
63.50 |
1.50 |
0.26 |
0.39 |
|
115-5 |
2722 |
63.50 |
65.00 |
1.50 |
0.17 |
0.25 |
|
115-5 |
2723 |
65.00 |
66.50 |
1.50 |
0.31 |
0.46 |
|
115-5 |
2724 |
66,50 |
68.00 |
1.50 |
0.22 |
0.33 |
|
115-5 |
2725 |
68.00 |
69.50 |
1.50 |
0.37 |
0.55 |
|
115-5 |
2726 |
69.50 |
71.00 |
1.50 |
0.34 |
0.50 |
|
115-5 |
2727 |
71.00 |
72.50 |
1.50 |
0.28 |
0.43 |
|
115-5 |
2729 |
72.50 |
74.00 |
1.50 |
0.32 |
0.48 |
|
115-5 |
2730 |
74.00 |
75.50 |
1.50 |
0.31 |
0.47 |
|
115-5 |
2731 |
75.50 |
77.00 |
1.50 |
0.57 |
0.86 |
|
115-5 |
2732 |
77.00 |
78.50 |
1.50 |
0.49 |
0.74 |
|
115-5 |
2733 |
78.50 |
80.00 |
1.50 |
0.23 |
0.35 |
|
115-5 |
2734 |
80.00 |
82.00 |
2.00 |
0.26 |
0.52 |
|
Total |
|
|
|
44.00 |
|
26.27 |
|
Average |
|
|
|
|
0.60 |
|
|
115-8 |
2351 |
32.50 |
34.00 |
1.50 |
0.34 |
0.51 |
|
115-8 |
2352 |
34.00 |
35.50 |
1.50 |
0.32 |
0.48 |
|
115-8 |
2353 |
35.50 |
37.00 |
1.50 |
0.44 |
0.66 |
|
115-8 |
2354 |
37.00 |
38.50 |
1.50 |
0.33 |
0.49 |
|
115-8 |
2355 |
38.50 |
40.00 |
1.50 |
0.31 |
0.46 |
|
115-8 |
2357 |
40.00 |
41.50 |
1.50 |
0.32 |
0.48 |
|
115-8 |
2358 |
41.50 |
43.00 |
1.50 |
0.28 |
0.43 |
|
Total |
|
|
|
10.50 |
|
3.50 |
|
Average |
|
|
|
|
0.33 |
|
|
116-5 |
1181 |
26.00 |
28.00 |
2.00 |
0.37 |
0.74 |
|
116-5 |
1182 |
28.00 |
30.00 |
2.00 |
0.48 |
0.96 |
|
116-5 |
1183 |
30.00 |
32.00 |
2.00 |
0.51 |
1.02 |
|
116-5 |
1184 |
32.00 |
34.00 |
2.00 |
0.24 |
0.48 |
|
116-5 |
1185 |
34.00 |
36.00 |
2.00 |
0.36 |
0.73 |
|
Total |
|
|
|
10.00 |
|
3.93 |
|
Average |
|
|
|
|
0.39 |
|
|
116-6 |
1021 |
38.00 |
39.50 |
1.50 |
0.46 |
0.69 |
|
116-6 |
1022 |
39.50 |
41.00 |
1.50 |
0.22 |
0.34 |
|
116-6 |
1023 |
41.00 |
42.50 |
1.50 |
0.11 |
0.16 |
|
116-6 |
1024 |
42.50 |
44.00 |
1.50 |
0.36 |
0.54 |
|
116-6 |
1025 |
44.00 |
45.70 |
1.70 |
0.60 |
1.01 |
|
116-6 |
1026 |
45.70 |
47.00 |
1.30 |
0.65 |
0.84 |
|
116-6 |
1027 |
47.00 |
48.50 |
1.50 |
0.99 |
1.49 |
|
116-6 |
1028 |
48.50 |
50.00 |
1.50 |
0.71 |
1.06 |
|
116-6 |
1029 |
50.00 |
51.50 |
1.50 |
0.61 |
0.92 |
|
116-6 |
1030 |
51.50 |
53.00 |
1.50 |
0.60 |
0.89 |
|
116-6 |
1031 |
53.00 |
54.50 |
1.50 |
0.60 |
0.89 |
|
116-6 |
1032 |
54.50 |
56.00 |
1.50 |
0.85 |
1.27 |
|
116-6 |
1033 |
56.00 |
57.50 |
1.50 |
0.54 |
0.80 |
|
116-6 |
1034 |
57.50 |
59.00 |
1.50 |
0.50 |
0.75 |
|
116-6 |
1035 |
59.00 |
60.50 |
1.50 |
0.60 |
0.90 |
|
116-6 |
1036 |
60.50 |
62.00 |
1.50 |
0.50 |
0.75 |
|
116-6 |
1037 |
62.00 |
63.50 |
1.50 |
0.59 |
0.88 |
|
116-6 |
1038 |
63.50 |
65.00 |
1.50 |
0.50 |
0.76 |
|
116-6 |
1039 |
65.00 |
66.50 |
1.50 |
0.55 |
0.83 |
|
116-6 |
1040 |
66.50 |
68.00 |
1.50 |
0.46 |
0.69 |
|
116-6 |
1041 |
68.00 |
69.00 |
1.00 |
0.51 |
0.51 |
|
Total |
|
|
|
31.00 |
|
16.97 |
|
Average |
|
|
|
|
0.55 |
|
|
117-5 |
2107 |
38.50 |
40.00 |
1,50 |
0.70 |
1.05 |
|
117-5 |
2108 |
40.00 |
41.50 |
1,50 |
1.36 |
2.04 |
|
117-5 |
2109 |
41.50 |
43.00 |
1,50 |
0.87 |
1.30 |
|
117-5 |
2110 |
43.00 |
44.50 |
1,50 |
0.98 |
1.47 |
|
117-5 |
2111 |
44.50 |
46.00 |
1,50 |
1.38 |
2.07 |
|
117-5 |
2113 |
46.00 |
47.50 |
1,50 |
1.30 |
1.95 |
|
117-5 |
2114 |
47.50 |
49.00 |
1,50 |
1.62 |
2.43 |
|
117-5 |
2115 |
49.00 |
50.50 |
1,50 |
2.01 |
3.02 |
|
117-5 |
2116 |
50.50 |
52.00 |
1,50 |
1.71 |
2.57 |
|
117-5 |
2117 |
52.00 |
53.50 |
1,50 |
1.25 |
1.88 |
|
117-5 |
2118 |
53.50 |
55.00 |
1,50 |
1.26 |
1.89 |
|
117-5 |
2119 |
55.00 |
56.50 |
1,50 |
1.54 |
2.31 |
|
117-5 |
2120 |
56.50 |
58.00 |
1,50 |
1.07 |
1.61 |
|
117-5 |
2121 |
58.00 |
59.50 |
1,50 |
1.43 |
2.15 |
|
117-5 |
2123 |
59.50 |
61.00 |
1,50 |
1.44 |
2.16 |
|
117-5 |
2124 |
61.00 |
62.50 |
1,50 |
1.02 |
1.53 |
|
117-5 |
2125 |
62.50 |
64.00 |
1,50 |
0.58 |
0.87 |
|
117-5 |
2126 |
64.00 |
65.50 |
1,50 |
0.49 |
0.73 |
|
117-5 |
2127 |
65.50 |
67.00 |
1,50 |
0.54 |
0.81 |
|
117-5 |
2128 |
67.00 |
68.50 |
1,50 |
0.43 |
0.65 |
|
117-5 |
2129 |
68.50 |
70.80 |
2,30 |
0.47 |
1.08 |
|
117-5 |
2130 |
70.80 |
72.00 |
1,20 |
0.80 |
0.95 |
|
117-5 |
2131 |
72.00 |
73.50 |
1,50 |
1.10 |
1.65 |
|
117-5 |
2133 |
73.50 |
75.00 |
1,50 |
0.62 |
0.94 |
|
117-5 |
2134 |
75.00 |
76.50 |
1,50 |
0.49 |
0.74 |
|
117-5 |
2135 |
76.50 |
78.00 |
1,50 |
0.26 |
0.39 |
|
117-5 |
2136 |
78.00 |
79.50 |
1,50 |
0.23 |
0.34 |
|
117-5 |
2137 |
79.50 |
81.00 |
1,50 |
0.21 |
0.32 |
|
117-5 |
2138 |
81.00 |
82.50 |
1,50 |
0.30 |
0.44 |
|
117-5 |
2139 |
82.50 |
84.00 |
1,50 |
0.44 |
0.66 |
|
Total |
|
|
|
45.50 |
|
41.97 |
|
Average |
|
|
|
|
0.92 |
|
|
117-5 |
2209 |
177.00 |
178.50 |
1.50 |
0.31 |
0.47 |
|
117-5 |
2210 |
178.50 |
180.00 |
1.50 |
0.64 |
0.97 |
|
117-5 |
2211 |
180.00 |
181.50 |
1.50 |
0.51 |
0.76 |
|
117-5 |
2213 |
181.50 |
183.00 |
1.50 |
0.61 |
0.92 |
|
117-5 |
2214 |
183.00 |
184.50 |
1.50 |
0.55 |
0.82 |
|
117-5 |
2215 |
184.50 |
186.00 |
1.50 |
0.51 |
0.77 |
|
117-5 |
2216 |
186.00 |
187.50 |
1.50 |
066 |
0.99 |
|
117-5 |
2217 |
187.50 |
189.00 |
1.50 |
0.57 |
0.85 |
|
117-5 |
2218 |
189.00 |
190.50 |
1.50 |
0.47 |
0.70 |
|
117-5 |
2219 |
190.50 |
192.00 |
1.50 |
0.52 |
0.78 |
|
117-5 |
2220 |
192.00 |
193.50 |
1.50 |
0.84 |
1.27 |
|
117-5 |
2221 |
193.50 |
195.00 |
1.50 |
0.71 |
1.06 |
|
117-5 |
2223 |
195.00 |
196.50 |
1.50 |
0.63 |
0.95 |
|
117-5 |
2224 |
196.50 |
198.00 |
1.50 |
0.59 |
0.88 |
|
117-5 |
2225 |
198.00 |
199.50 |
1.50 |
0.59 |
0.89 |
|
117-5 |
2226 |
199.50 |
201.00 |
1.50 |
0.48 |
0.72 |
|
117-5 |
2227 |
201.00 |
202.50 |
1.50 |
0.78 |
1.17 |
|
117-5 |
2228 |
202.50 |
204.00 |
1.50 |
0.60 |
0.90 |
|
Total |
|
|
|
27.00 |
|
15.86 |
|
Average |
|
|
|
|
0.59 |
|
|
117-6 |
3526 |
42.50 |
44.00 |
1,50 |
0.28 |
0.41 |
|
117-6 |
3527 |
44.00 |
45.50 |
1,50 |
0.37 |
0.56 |
|
117-6 |
3529 |
45.50 |
47.00 |
1,50 |
0.41 |
0.62 |
|
117-6 |
3530 |
47.00 |
48.50 |
1,50 |
0.70 |
1.04 |
|
117-6 |
3531 |
48.50 |
50.00 |
1,50 |
0.92 |
1.37 |
|
117-6 |
3532 |
50.00 |
51.50 |
1,50 |
0.62 |
0.92 |
|
117-6 |
3533 |
51.50 |
53.00 |
1,50 |
0.46 |
0.68 |
|
117-6 |
3534 |
53.00 |
54.50 |
1,50 |
0.51 |
0.76 |
|
117-6 |
3535 |
54.50 |
56.00 |
1,50 |
0.48 |
0.72 |
|
117-6 |
3536 |
56.00 |
57.50 |
1,50 |
0.66 |
0.99 |
|
117-6 |
3537 |
57.50 |
59.00 |
1,50 |
0.75 |
1.13 |
|
117-6 |
3539 |
59.00 |
60.50 |
1,50 |
0.41 |
0.62 |
|
117-6 |
3540 |
60.50 |
62.00 |
1,50 |
0.53 |
0.80 |
|
117-6 |
3541 |
62.00 |
63.50 |
1,50 |
0.59 |
0.88 |
|
117-6 |
3542 |
63.50 |
65.00 |
1,50 |
0.31 |
0.47 |
|
117-6 |
3543 |
65.00 |
66.50 |
1,50 |
0.32 |
0.49 |
|
117-6 |
3544 |
66.50 |
68.00 |
1,50 |
0.46 |
0.70 |
|
117-6 |
3545 |
68.00 |
69.50 |
1,50 |
0.60 |
0.90 |
|
117-6 |
3546 |
69.50 |
71.30 |
1,80 |
0.62 |
1.12 |
|
117-6 |
3547 |
71.30 |
73.00 |
1,70 |
0.57 |
0.96 |
|
117-6 |
3549 |
73.00 |
74.50 |
1,50 |
0.49 |
0.73 |
|
117-6 |
3550 |
74.50 |
76.00 |
1,50 |
0.38 |
0.56 |
|
Total |
|
|
|
33.50 |
|
17.42 |
|
Average |
|
|
|
|
0.52 |
|
Note: % M* = Interval meters x % copper
About Frontier Mining Ltd:
Frontier Mining Ltd. is a mineral exploration and development Company that was incorporated in the state of Delaware, USA, on 5 August 1998 for the purpose of exploring and developing gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates, acquires, explores and develops mineral properties.
Frontier currently owns two licenses in Kazakhstan. They are the Naimanjal exploration and mining licence, held by FML Kazakhstan, and, 50% of U.S. Megatech BVI which holds the Benkala licence. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd. Frontier has one producing gold mine, Naimanjal; one pre-feasibility stage gold project, Koskuduk; and the recently acquired 50% interest in the Benkala copper mine.
Frontier also has a potential copper porphyry deposit with associated gold and molybdenum, Baitimir; and several copper/gold prospects along a 25-km trend including both VMS and porphyry types. Metallurgical tests on its Beschoku and Yubileiny copper projects confirm the oxide copper ore is amenable to extraction using low cost SX-EW technology.
Frontier owns a 50% interest in KazCopper LLP, the joint venture company that owns the Benkala copper-molybdenum-gold deposit located in north-western Kazakhstan within the Urals gold/copper ore belt. A Competent Persons Report ("CPR") on the Benkala project completed by Wardell Armstrong International ("WAI") in March 2007 estimated 47.75 Mt at an average grade of 0.36% Copper ("Cu") for the oxide mineralization, and 873.75 Mt at an average grade of 0.30% Cu for the sulphide mineralisation, representing some 2.8 million tonnes of contained copper, and at a 10% Discount Rate and a $1.5/lb Cu price, the Benkala Project has an NPV approaching $500M. A conceptual study team and advisory team have both been appointed to fast track the development of this project forward towards a pre- feasibility study, with a view to beginning production in 2011.
Issued Share Capital
Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.
Frontier now has 917,336,219 issued and 21,812,009 reserved options giving 939,148,228 fully diluted ordinary shares.
For further information please visit; www.frontiermining.com
Related Shares:
FML.L