major aeromagnetic-radiometric survey - bulago

OTML are not waiting around.... they want to find the next large deposit fast...... And FNT is along for the ride... nice... Bulago could be VERY interesting...

Major Aeromagnetic - Radiometric Geophysical Survey Initiated by Ok Tedi Mining Ltd at the Bulago Joint Venture
?? A large and very detailed aeromagnetic and radiometric geophysical survey has been initiated by OTML Ltd at the Bulago Joint Venture (EL 1595), located near the Strickland River, in Southern Highlands Province in the NW of Papua New Guinea (figures 1 and 2).
?? Interpretation of the survey data will be undertaken by specialist geophysical consultants in conjunction with OTML and should become available in 2 to 3 months.
?? The geophysical data will then be integrated with the existing geological and geochemical information to discriminate and rank targets for follow up exploration, potentially including drilling.
?? The geophysical survey covers the Exploration License (EL 1595) at a 30m sensor height on 50m traverse spacing, with 500m spaced tie lines, for 2,839 line kilometres total
?? In addition to the digital aeromagnetic and radiometric data, images will be produced of Total Magnetic Intensity -TMI (and derivative enhanced TMI), radiometrics and the digital elevation model for evaluation. (figure 3).
?? The exploration program is budgeted to cost approximately US$ 230,000.
?? Trench channel sample assay results have included 27m of 66.8 g/t gold, 7.5m of 67.0 g/t gold, 18m of 40.3 g/t gold and 1.5m of 5.59 g/t gold+ 2,555 g/t silver+ 2.17% copper+ 3.16% zinc.
?? In May 2010 Frontier and OTML established a Joint Venture that relates to 3 ELs and 2 EL Applications in PNG.
?X OTML have the option to earn 58% of EL 1595 by spending US$12 million within 6 years.
?X Frontier is carried from completion of earn-in to the completion of a Bankable Feasibility Study, with pro-rata (carried) repayments from 50% of its future metal sales.
?X Under certain circumstances, OTML can purchase up to 80.1% equity in the project.