RRS 0.00% 0.1¢ range resources limited

starting to look interesting!, page-15

  1. 854 Posts.
    Frontier Pacific Reports Very Favourable Results from First Phase on Macusani Uranium Project, South-eastern Peru
    VANCOUVER, Aug. 16 /CNW/ - Frontier Pacific Mining Corporation,
    (TSX-V: FRP) ("Frontier Pacific" or the "Company"), a junior mineral
    exploration company with common shares listed on the TSX Venture Exchange is
    pleased to provide a progress report on its Macusani uranium project
    exploration program in Southern Peru, with venture management partner Solex
    Resources Corp. (TSX-V: SOX) ("Solex").
    Radiometric surveys over two known uraniferous areas, the Calvario and
    Agaton prospects, provide excellent correlation with test sampling. Large
    anomalous areas of 120,000 square metres and 320,000 square metres on the
    Calvario and Agaton uranium targets have been outlined. The average uranium
    grade and thickness of the ignimbrite units has not been defined adequately to
    project tonnages and grade of each of the targets in this first stage program.
    The geological mapping, sampling and assaying on two of the prospects
    indicate good correlation with the test radiometric surveys. Radiometric
    surveys will be continued in order to define the many additional targets that
    have been identified by prospecting. These surveys suggest the Calvario and
    Agaton prospect areas could contain potentially significant resources of
    uranium for which the average grade will have to be quantified. Frontier
    Pacific and Solex will be developing and implementing a diamond drilling plan
    to determine the average grade of the Calvario and Agaton Prospects over the
    next few weeks.
    On April 19, 2005, the Company signed an option and venture management
    agreement (the "Venture") with Solex to earn a 50% interest in certain uranium
    mineral concessions in the Macusani District of South-eastern Peru. To date
    the Venture has acquired 35,000 hectares (350 square kilometres) contained in
    55 concessions covering prospective uranium mineral occurrences in the
    district. The Macusani uranium district was discovered and identified in the
    late 1970's to mid- 1980's by the Peruvian Institute of Nuclear Energy
    ("IPEN"). However, exploration and development of the District was restricted
    by government moratorium until late 2004 when the area was opened to
    concession acquisition by individuals and companies.
    The Venture exploration program began in the first week of May 2005 and
    expenditures of approximately CDN$400,000 have been incurred to date. Site
    visits to prepare an engineering report conforming to the National Instrument
    43-101 guidelines were initiated with Roscoe Postle Associates Inc. Programs
    carried out by GeoScott Exploration Consultants ("Geoscott") and VDG Del Peru
    S.A.C. ("VDG") were supervised by Dr. W.J. Scott, Ph.D., P. Eng. of GeoScott,
    a qualified person under the National Instrument 43-101 guidelines.
    Ground radiometric and real time differential GPS surveys were carried
    out by VDG on behalf of the Venture during the period May-June, 2005. A total
    of 101.25 line-kilometres of geophysical coverage (representing 4177 survey
    stations) was completed over three prospective zones containing uranium
    occurrences, the Calvario, Chapis and Agaton Prospects. The surveys aimed at
    testing the radiometric response over known uranium-bearing showings and at
    determining the extent of the mineralization at the three prospects. The
    radiometric method was employed for mapping the content variation of uranium,
    thorium and potassium within the lithologies. The DGPS method was used to
    accurately establish the location of the geophysical lines and stations at the
    prospects.
    Anomalous radiometric responses associated with the presence of uranium-
    bearing mineralization were detected at the three prospects that were test
    surveyed.
    At the Calvario Prospect the radiometric response outlined an anomalous
    area of approximately 120,000 square metres featuring smooth topographic
    relief on the top of a rounded hill with elevations ranging from 4295 to 4525
    m.a.s.l. Uranium mineralization which correlates well with the margins of the
    radiometric anomaly is observed in rock outcrops on the steeper flanks of the
    hill.
    Similarly, at the Agaton Prospect, the radiometric response outlined an
    anomalous area of approximately 320,000 square metres featuring again
    relatively smooth topographic relief on the top of a rounded hill with
    elevations ranging from 4750 to 4835 m.a.s.l. Uranium mineralization also
    correlates well with the margins of the radiometric anomaly as observed in
    rock outcrops on the steeper flanks of the hill.
    As reported by IPEN and verified by the exploration work carried out to
    date by the Venture geologists and in part by the work carried out by
    GeoScott, the uranium mineralization is present and bounded within certain
    sub-horizontal ignimbrite units of the Upper Yapamayo member of Pliocene-
    Quaternary age. The uranium mineralization occurs as disseminations and
    fracture fillings ranging from a few millimeters to a few centimeters in
    thickness over a vertical dimensions extending up to ten meters within
    relatively coarser-grained ignimbrite units. The most common uranium minerals
    are meta-autunite and weeksite in certain districts and pitchblende in others.
    The ignimbrite wallrock is also observed to carry disseminated mineralization
    comprised mostly of the mineral tentatively identified gummite. Uranium
    mineralization appears to be restricted to specific ignimbrite units up to
    25 meters thick where rock exposure can be observed. Other minerals identified
    are autunite, torbenite, fosforanilite and renardinite.
    GeoScott carried out site specific geologic mapping and sampling of two
    of the three prospects to determine the modes of occurrence and setting of the
    uranium mineralization reported by IPEN and the Venture program of prospecting
    and sampling. The purpose of the mapping and sampling program was to determine
    if potential economic uranium values are consistent over sufficient area to
    create potential for economic deposits. Emphasis was placed on sampling the
    disseminated uranium occurrences in unfractured ignimbrite adjacent to
    observable autunite and weeksite fracture filling uranium occurrences. A total
    of 48 samples taken from the ignimbrite adjacent to fractured fillings in the
    Calverio and Agaton Prospect areas ranged in value from a low of 6 ppm uranium
    to a high of 8,320 ppm uranium over sample widths ranging from 0.4 metres to
    2.1 metres. The disseminated mineralization is difficult to see in the
    ignimbrite and it was very encouraging that significant uranium assays were
    recorded in the relatively unfractured ignimbrite adjacent to fractures.
    The Venture geologic mapping and sampling program carried out by the
    Venture geologists independently of the work by GeoScott focused on
    understanding uranium fracture density to help determine potential average
    grade of uranium. A total of 168 samples were taken over sample widths and
    orientations ranging from 0.1 metre (38 samples), 0.3 to 0.6 metres
    (54 samples), 1.0 metre (33 samples), 2.0 to 7.0 metres (19 samples) and
    composites along the strike of fracture fillings (29 samples) and primarily
    covered the Calvario, Agaton and Chapi prospects. Values in general exceeded
    10,000 ppm uranium for most of the sampling that was carried out on these test
    sampled prospects. Nine other prospects within the concession holdings were
    prospected and test sampled for uranium with significant results and will be
    followed up by systematic exploration. Locations and assay results obtained to
    date will be posted on the Company's website.
    The GeoScott samples were analyzed at SRC Analytical Laboratories in
    Saskatoon, Saskatchewan while the Venture's samples were analyzed at ALS
    Chemex Labs, North Vancouver, BC and at Instituto Peruano De Energia Nuclear
    in Lima, Peru.

    About Frontier Pacific
    ----------------------
    Frontier Pacific is a mineral exploration and development company based
    in Vancouver, British Columbia. The Company's holdings include the advanced
    Perama Hill gold project in Greece, options on the Dixie Creek gold project in
    Nevada and uranium exploration concessions in southern Peru.
    For further details on Frontier Pacific Mining Corporation, please visit
    the Company's website at http://www.frontierpacific.com.

    On behalf of the Board of Directors

    "Peter F. Tegart"

    Peter F. Tegart, P.Geo., President

    This press release contains forward-looking statements that involve risks
    and uncertainties. The TSX Venture Exchange does not accept responsibility for
    the adequacy or accuracy of the contents herein.


    http://www.newswire.ca/en/releases/archive...5/16/c0702.html
 
watchlist Created with Sketch. Add RRS (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.