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
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