22nd May 2012 07:00
FRONTIER MINING LTD
("Frontier" or "the Company")
Publication of Newsletter
Frontier Mining Ltd (AIM: FML), the AIM quoted copper exploration and development company focused on Kazakhstan, is pleased to announce it has issued its second Newsletter detailing the Company's latest activities.
The newsletter can be found on the Company's website with the following link:
http://www.frontiermining.com/news/newsletter/pdf/120522_frontier_mining_ltd_newsletter.pdf
For further details please contact:
Frontier Mining Ltd |
George Cole |
+44 (0) 20 7898 9019
|
Libertas Capital (NOMAD)
Westhouse Securities Ltd (Joint Broker)
XCap Securities plc (Joint Broker)
| Sandy Jamieson
Dermot McKechnie Martin Davison
Jon Belliss David Lawman Karen Kelly
| +44 (0) 20 7569 9650
+44 (0) 20 7601 6100
+44 (0) 20 7101 7070
|
Walbrook PR Walbrook IR | Louise Mason (Media Enquiries) Paul Cornelius (Investor Enquiries) | +44 (0) 20 7933 8792 +44 (0) 20 7933 8794 |
Notes to Editor
Frontier Mining Limited is a copper exploration and development company with a focus on Kazakhstan. The Company's main activity is the Benkala Copper Project in North West Kazakhstan, which forms part of the Urals copper gold ore belt. Frontier has a 100% interest in Benkala through its subsidiary KazCopper LLP.
Frontier, through its wholly owned subsidiary FML Kazakhstan, also owns Baitemir, a potential copper gold porphyry deposit with associated gold and molybdenum situated on the Naimanjal exploration licence area in North East Kazakhstan.
Frontier maintains an administrative and technical office in Almaty, the former capital city of Kazakhstan and the main business centre in the South East. The Company also maintains offices in Aktyubinsk and Semipalatinsk, close to the Benkala and Baitemir operations respectively.
Benkala
A Competent Persons Report completed by Wardell Armstrong International ("WAI") in June 2010, estimated the oxide section of the Benkala project, which represents development of only ~10% of the total resource at Benkala, to have a NPV of $190 million, based on 0.5% diluted copper grade, 63% recovery and 185,000 tonnes of contained metal at a 6,000 USD per tonne copper price. Frontier will use the production platform of the SX-EW project currently under construction to finance further evaluation and technical studies required to advance development of the significant Benkala sulphide resources. Frontier expects first production at Benkala in the second quarter of 2012.
WAI updated their Joint Ore Reserves Committee resource estimate in February 2011, significantly increasing the measured and indicated resource for both oxide and sulphide ores. The oxide resource has increased by a total of 9.72kt to 174.38kt (+5.9%) and the sulphide resource by 65.54kt to 779.28kt (+9.2%) of copper. As well as the overall increase, both ore types now have significantly more resource in the measured category and there has been an increase in the average oxide grade percentage. In addition, the overall inferred resource has also increased by 42.8kt to 607.70kt of copper (+7.6%).
In January 2012 Frontier added the South Benkala mining area to its existing Benkala licence. The South Benkala area is approximately 10 kilometres south of Benkala and has a GKZ resource estimate of 94.5kt of oxide and 515.1kt of sulphide copper.
Baitemir
Baitemir was identified as the most attractive deposit on the Naimanjal licence area and an exploration drill program was developed to confirm the size and grades of the deposit. Frontier has now drilled almost 16,000 metres and, on the basis of positive results, has an additional 1,000 metre drilling programme for 2012. The Company is working to further define the mineral inventory, anticipating the generation of a mineral resource prepared in accordance with the guidelines of the JORC Code (2004) in 2012.
Issued Share Capital
Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.
Frontier has 1,860,913,920 ordinary shares issued.
For further information please visit: www.frontiermining.com
Related Shares:
FML.L