gold news

GOLD CONTINUITY CONFIRMED BY INFILL DRILLING AT THE NARRAWA DEPOSIT,
WITH POTENTIALLY OPEN PITABLE AND ALSO HIGH GOLD GRADES
Frontier Resources Ltd is pleased to announce that assays from our recent diamond drilling
program have confirmed the general grade and continuity of gold plus base metal mineralisation
at the Narrawa Deposit, in central-northern Tasmania.
A total of 11 holes were drilled for 726.9m and locations are shown (along with results from
previous drilling) in the summary plan below. The best results were: NC43 with 24.7m grading 3.42
g/t gold equivalent, NC44 with 24.3m of 4.42 g/t gold equivalent, NC45 with 9m of 1.17 g/t gold
equivalent, NC46 with 7.6m of 0.6 g/t gold equivalent and NC47 with 52.3m of 0.82 g/t gold
equivalent (including several barren intervals).
The highest grade internal intervals included 2.1m of 15.63 g/t gold equivalent 1.1m of 15.92 g/t
gold equivalent, 1.1m of 12.4g/t gold equivalent and 1.1m of 11.11 g/t gold equivalent. All
significant results are tabulated below and a separate table shows drill collar and hole orientation
information. Assays are yet to be returned for holes NC48-52
An Inferred Resource of 30,850 ounces of gold equivalent grading 5.05 g/t gold equivalent was
announced to the ASX on 5th September 2008 and summary information relating to the Project
was announced 19th August 2008. Please refer to those documents for additonal information.
The Narrawa resource will be re-estimated when all the assay results have been returned and
compiled and will likely be re-classified as Indicated and Inferred, with part Measured. Future
drilling at Narrawa will target extensions to the mineralisation to increase the total size of the
resource and thus improve possible ‘economics’. There is excellent exploration potential
particularly to the NW along strike. Additional mineralisation is also likely to be documented in
the general project region, from the many existing drill targets.
The pre-feasibility studies are assessing the capacity of
the Narrawa and Stormont Deposits to be mined and
processed (individually and together) at the nearby
Hellyer or Rosebery mills to generate early cash flow to
Frontier. This work is proceeding and a ‘preliminary’
Conceptual Mining Study is expected to be ready for
release in mid-October.
Narrawa’s resource definition and expansion drilling
was completed mid-September 2008 and drilling is
currently underway at the nearby Stormont goldbismuth
Deposit for the first time. An Inferred Resource
will be estimated for Stormont, subsequent to the
planned 6 weeks drilling program, then the Conceptual
Mining Study will be finalised in Q1 2009, evaluating
changes in the projects’ economics and recommending
a development path forward.