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Infill Drillng Update

29th Mar 2010 07:00

RNS Number : 3086J
Frontier Mining Ltd
29 March 2010
 



 

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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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