Vancouver – Fronteer Development Group (FRG-T, FRG-X) has notched up a couple of new uranium discoveries in drilling on its coastal Labrador projects.
The Jacques Lake and Otter Lake targets, both located about 25 km east of the Michelin uranium deposit, were first identified from 2004 radiometric surveys. Initial drilling has intersected a number of significant uranium mineralized intervals.
Several widely spaced drill holes at Jacques Lake tested about one-tenth of the 4-km long target, cutting near-surface uranium in four of the holes. Hole JL-05-05 returned a 9.2-metre interval grading 0.1% U3O8, including 2.1 metres of 0.2% U3O8. In further holes, four other 3-to-5 metre intervals delivered similar grades.
Fronteer notes a similarity of results to those initially discovered at Michelin in the 1960s, where the first seven drill holes averaged 0.11% U3O8 over 3.9 metres at depths of 20-70 metres.
Drilling on the Otter Lake targets returned the company’s hottest result of 2005 with hole OL-05-04 intersecting one-half-metre of 1% U3O8 at shallow depths, plus an additional one-metre interval of 0.14% U3O8. Three other holes returned an average grade of 0.11% U3O8 over 0.5-to-1 metre.
Further, Fronteer’s work on its Michelin uranium project has extended the vertical extent of mineralization to at least 700 metres in its testing beneath the historic resource of 6.4 million tonnes grading 0.13% U3O8.
In mid-2005, Fronteer and Altius Minerals (ALS-V) restructured a 50-50 alliance covering the central Labrador project area and created Aurora Energy, a private company now held 57% by Fronteer (operator) and 43% by Altius.
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