29th Mar 2010 07:00
FRONTIER MINING LTD
("Frontier" or "the Company")
Infill Drilling Update
Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development company focused on Kazakhstan, announces the first assay results from its infill drill programme at its Benkala Copper project in north-western Kazakhstan.
During the period 2009 to early 2010 KazCopper, the joint venture between FML and Coville Intercorp Ltd ("Coville"), undertook an ongoing drillingprogramme on its Benkala copper project. The main focus of this programme was to confirm the oxide section of the project, enabling the Company to prepare for initial copper production using an SX-EW process. In addition to this a few deep wells were also drilled to confirm primary ore exploration.
The completion of the first 54 holes was announced on 14 December 2009. The depth of the holes range from 33 metres to 350 metres with a combined total of 6,699 metres. Of the 54 holes, 6 holes were with depths of 230-350 metres (with a combined total of 1,826.2 metres, in primary ore) and 48 holes were to depths of 33-200 metres (with a combined total of 4,872.7 metres in oxide ore).
Over 4,000 assay samples were collected and have been sent to the Geoplazma laboratory in Kazakhstan. Independent sampling checks are being carried out by the Alex Stewart laboratory in Kyrgyzstan. The company has received confirmed results for its first 3 holes:
·; Hole C-111-4 which shows 26.5 metres interval with average copper content of 0.59%
·; Hole C-115-3 which shows 6.0 metres interval with average copper content of 0.58%
·; Hole C-116-6 which shows 31.0 metres interval with average copper content of 0.55%
Soviet era drilling data indicated an average copper content throughout the deposit of 0.55%. Assay results in respect of the remaining 51 holes will be released in due course.
The Company has completed the first stage of the infill programme and is now working on completing an additional 3000 metres of oxide ore drilling at depths of 100 to 250 metres in the proposed open pit zone, in 2010.
Due to the delayed receipt of assay samples the Company now expects it will issue a JORC compliant resource statement for the oxide/supergene zone in the third quarter of 2010. However this in no way delays proposed 2011 production dates.
Erlan Sagadiev, CEO of Frontier commented:
"I am pleased that our initial assay results confirm and exceed the Soviet era data. We have always been confident of the quality of the Benkala deposit and these drill results not only reinforce that confidence but further supports the decision to fast track SX/EW production for 2011."
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 mineralization 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 |
Louise Goodeve / Leah Kramer |
+44 (0)20 7933 8780 |
Full Assay results are presented in the following table:
|
Local net |
Depth |
Expl |
|
|
|
|
|
|
|
|
№ Скв. |
X |
Y |
м |
line |
№ assay |
From (m) |
To (m) |
м |
Сu ppm |
Сu % |
м*% |
115-3 |
77250,01 |
13815,46 |
84,70 |
115 |
2955 |
33,00 |
34,50 |
1,50 |
5939,7 |
0,59 |
0,891 |
115-3 |
|
|
|
|
2956 |
34,50 |
36,00 |
1,50 |
4932,5 |
0,49 |
0,740 |
115-3 |
|
|
|
|
2957 |
36,00 |
37,50 |
1,50 |
9156,9 |
0,92 |
1,374 |
115-3 |
|
|
|
|
2958 |
37,50 |
39,00 |
1,50 |
3155,8 |
0,32 |
0,473 |
115-3 |
|
|
|
|
2959 |
39,00 |
40,50 |
1,50 |
1759,4 |
0,18 |
0,264 |
115-3 |
|
|
|
|
2960 |
40,50 |
42,00 |
1,50 |
1306,6 |
0,13 |
0,196 |
115-3 |
|
|
|
|
2961 |
42,00 |
43,50 |
1,50 |
1528,6 |
0,15 |
0,229 |
115-3 |
|
|
|
|
2962 |
43,50 |
45,00 |
1,50 |
1064,2 |
0,11 |
0,160 |
115-3 |
|
|
|
|
2964 |
45,00 |
46,50 |
1,50 |
1215,8 |
0,12 |
0,182 |
115-3 |
|
|
|
|
2965 |
46,50 |
48,00 |
1,50 |
1065,0 |
0,11 |
0,160 |
115-3 |
|
|
|
|
2966 |
48,00 |
49,50 |
1,50 |
955,08 |
0,10 |
0,143 |
115-3 |
|
|
|
|
2967 |
49,50 |
51,00 |
1,50 |
924,68 |
0,09 |
0,139 |
115-3 |
|
|
|
|
2968 |
51,00 |
52,50 |
1,50 |
1536,2 |
0,15 |
0,230 |
115-3 |
|
|
|
|
2969 |
52,50 |
54,00 |
1,50 |
1706,4 |
0,17 |
0,256 |
115-3 |
|
|
|
|
2970 |
54,00 |
55,50 |
1,50 |
2685,5 |
0,27 |
0,403 |
115-3 |
|
|
|
|
2971 |
55,50 |
57,00 |
1,50 |
1842,7 |
0,18 |
0,276 |
115-3 |
|
|
|
|
2972 |
57,00 |
58,50 |
1,50 |
1762,4 |
0,18 |
0,264 |
115-3 |
|
|
|
|
2974 |
58,50 |
60,00 |
1,50 |
1820,3 |
0,18 |
0,273 |
115-3 |
|
|
|
|
2975 |
60,00 |
61,50 |
1,50 |
1917,7 |
0,19 |
0,288 |
115-3 |
|
|
|
|
2976 |
61,50 |
63,00 |
1,50 |
1901,3 |
0,19 |
0,285 |
115-3 |
|
|
|
|
2977 |
63,00 |
64,50 |
1,50 |
1307,4 |
0,13 |
0,196 |
115-3 |
|
|
|
|
2978 |
64,50 |
65,00 |
0,50 |
2730,9 |
0,27 |
0,137 |
|
|
|
|
|
|
|
|
32,00 |
|
0,24 |
7,559 |
|
|
|
|
|
|
|
в т.ч. |
6,00 |
|
0,58 |
3,48 |
|
|
|
|
|
|
|
|
|
|
|
|
111-4 |
76849,04 |
14014,07 |
68,00 |
111 |
3622 |
40,50 |
42,00 |
1,50 |
2900 |
0,29 |
0,435 |
111-4 |
|
|
|
|
3623 |
42,00 |
43,50 |
1,50 |
6690 |
0,67 |
1,004 |
111-4 |
|
|
|
|
3624 |
43,50 |
45,00 |
1,50 |
10800 |
1,08 |
1,620 |
111-4 |
|
|
|
|
3625 |
45,00 |
46,50 |
1,50 |
10500 |
1,05 |
1,575 |
111-4 |
|
|
|
|
3627 |
46,50 |
48,00 |
1,50 |
12100 |
1,21 |
1,815 |
111-4 |
|
|
|
|
3628 |
48,00 |
49,50 |
1,50 |
17600 |
1,76 |
2,640 |
111-4 |
|
|
|
|
3629 |
49,50 |
51,00 |
1,50 |
7390 |
0,74 |
1,109 |
111-4 |
|
|
|
|
3630 |
51,00 |
52,50 |
1,50 |
6280 |
0,63 |
0,942 |
111-4 |
|
|
|
|
3631 |
52,50 |
54,00 |
1,50 |
3240 |
0,32 |
0,486 |
111-4 |
|
|
|
|
3632 |
54,00 |
55,50 |
1,50 |
7830 |
0,78 |
1,175 |
111-4 |
|
|
|
|
3633 |
55,50 |
57,00 |
1,50 |
4290 |
0,43 |
0,644 |
111-4 |
|
|
|
|
3634 |
57,00 |
58,50 |
1,50 |
3370 |
0,34 |
0,506 |
111-4 |
|
|
|
|
3635 |
58,50 |
60,00 |
1,50 |
3050 |
0,31 |
0,458 |
111-4 |
|
|
|
|
3637 |
60,00 |
61,50 |
1,50 |
1170 |
0,12 |
0,176 |
111-4 |
|
|
|
|
3638 |
61,50 |
63,00 |
1,50 |
2610 |
0,26 |
0,392 |
111-4 |
|
|
|
|
3639 |
63,00 |
64,50 |
1,50 |
2190 |
0,22 |
0,329 |
111-4 |
|
|
|
|
3640 |
64,50 |
66,00 |
1,50 |
1480 |
0,15 |
0,222 |
111-4 |
|
|
|
|
3641 |
66,00 |
67,00 |
1,00 |
1480 |
0,15 |
0,148 |
|
|
|
|
|
|
|
|
26,50 |
|
0,59 |
15,672 |
|
|
|
|
|
|
|
|
|
|
|
|
116-6 |
77347,23 |
14221,29 |
69,00 |
116 |
1021 |
38,00 |
39,50 |
1,50 |
4590 |
0,46 |
0,689 |
116-6 |
|
|
|
|
1022 |
39,50 |
41,00 |
1,50 |
2240 |
0,22 |
0,336 |
116-6 |
|
|
|
|
1023 |
41,00 |
42,50 |
1,50 |
1050 |
0,11 |
0,158 |
116-6 |
|
|
|
|
1024 |
42,50 |
44,00 |
1,50 |
3590 |
0,36 |
0,539 |
116-6 |
|
|
|
|
1025 |
44,00 |
45,70 |
1,70 |
5950 |
0,59 |
1,012 |
116-6 |
|
|
|
|
1026 |
45,70 |
47,00 |
1,30 |
6490 |
0,65 |
0,844 |
116-6 |
|
|
|
|
1027 |
47,00 |
48,50 |
1,50 |
9930 |
0,99 |
1,490 |
116-6 |
|
|
|
|
1028 |
48,50 |
50,00 |
1,50 |
7060 |
0,71 |
1,059 |
116-6 |
|
|
|
|
1029 |
50,00 |
51,50 |
1,50 |
6110 |
0,61 |
0,917 |
116-6 |
|
|
|
|
1030 |
51,50 |
53,00 |
1,50 |
5950 |
0,59 |
0,893 |
116-6 |
|
|
|
|
1031 |
53,00 |
54,50 |
1,50 |
5950 |
0,59 |
0,893 |
116-6 |
|
|
|
|
1032 |
54,50 |
56,00 |
1,50 |
8490 |
0,85 |
1,274 |
116-6 |
|
|
|
|
1033 |
56,00 |
57,50 |
1,50 |
5350 |
0,53 |
0,803 |
116-6 |
|
|
|
|
1034 |
57,50 |
59,00 |
1,50 |
5010 |
0,50 |
0,752 |
116-6 |
|
|
|
|
1035 |
59,00 |
60,50 |
1,50 |
6010 |
0,60 |
0,902 |
116-6 |
|
|
|
|
1036 |
60,50 |
62,00 |
1,50 |
4990 |
0,49 |
0,749 |
116-6 |
|
|
|
|
1037 |
62,00 |
63,50 |
1,50 |
5880 |
0,59 |
0,882 |
116-6 |
|
|
|
|
1038 |
63,50 |
65,00 |
1,50 |
5040 |
0,50 |
0,756 |
116-6 |
|
|
|
|
1039 |
65,00 |
66,50 |
1,50 |
5500 |
0,55 |
0,825 |
116-6 |
|
|
|
|
1040 |
66,50 |
68,00 |
1,50 |
4620 |
0,46 |
0,693 |
116-6 |
|
|
|
|
1041 |
68,00 |
69,00 |
1,00 |
5140 |
0,51 |
0,514 |
|
|
|
|
|
|
|
|
31,00 |
|
0,55 |
16,97 |
|
|
|
|
|
|
|
|
|
|
|
|
Notes to Editors:
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