Frontier Resources (ASX:FNT) Makes First Resource Estimate for PNG Gold Prospect – The Market Herald

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  • Frontier Resources (FNT) Releases First Mineral Resource Estimate (MRE) for its Saki Gold Prospect in Papua New Guinea
  • The epithermal gold deposit hosts an inferred resource of two million tonnes at two grams per tonne gold for 128,000 ounces of contained gold
  • The MRE was generated from an independent analysis of historic drill results coupled with data from the company’s recent geological mapping and trench and rock sampling.
  • Frontier says the ERM provides it with a solid basis to plan further work to fill and extend mineralization
  • FNT shares stable at 2.6 cents

Frontier Resources (FNT) has released a first mineral resource estimate (MRE) for its Saki epithermal gold prospect in Papua New Guinea.

The company said the alleged MRE would weigh two million tonnes grading two grams per tonne gold for 128,000 ounces of contained gold, using a cut-off of one g/t gold.

It was generated from an independent analysis of historic drill results coupled with data from Frontier’s recent geological mapping and trench and rock sampling work.

A total of 46 historic diamond holes were drilled at the Saki prospect for a total coverage of 4,191.85 metres.

Frontier said its recent mapping described the extent and outcrop of the mineralized veins and, together with the results of the trenches, allowed the mineral resource to be classified as JORC 2012.

The veins have only been tested to a depth of 120 meters below surface and could host further lateral and depth extensions, according to the company.

“This first mineral resource estimate … is an exciting step for Frontier in unlocking Saki’s potential,” said Frontier Technical Director Brian Thomas.

“The new mineral resource provides Frontier with a solid basis to plan further infill work and expansion of mineralization.

“Frontier is evaluating a haul road between Saku and the nearby Tolukuma gold mine that will allow truck access to the site.”

Frontier said it plans to conduct scoping studies before new drilling.

FNT shares closed the day’s trading session at 2.6 cents.

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