At the Sandy Point property, 22 grab samples returned 1.7-13.8 grams gold per tonne. Results from chip sampling include 1.7 metres grading 12.6 grams gold and 1 metre of 2.6 grams gold.
The property is underlain by late Archean mafic volcanic strata and intercalated magnetite iron formation. The gold mineralization occupies silicified and pyritized axial zones of tight east-striking folds in the iron formation. Soil geochemistry suggests gold mineralization extends for at least 70 metres southwest of the showing. Further infill soil sampling and ground geophysics are planned, in anticipation of drilling.
Chip samples from the Shanty Bay property include 1.75 metres running 3.4 grams gold, 1.2 metres of 11.43 grams, and 0.5 metre of 7.34 grams. Grab sampling returned up to 9.95 grams gold.
Additional ground geophysics and soil sampling will attempt to define drill targets.
Under an option agreement,
Nearby, Fronteer and
Rock samples from three copper-gold showings on the Swain East property returned up to 18.6 grams gold per tonne and 3.9% copper. The property is underlain by Archean felsic-to-mafic volcanic rocks, where two showings, North and South, sit in a broad zone of intense chlorite and quartz-sericite-pyrite alteration.
Grab samples from the Mink Lake property, where a 20-metre-wide corridor of quartz-carbonate veining extends about 2.8 km, yielded up to 35.6 grams gold per tonne.
Mapping on the Grace Lake property failed to reveal the source of a coincident magnetic and conductivity anomaly on which the property is centred. Follow-up ground geophysics and modelling are planned.
Under the terms of an option deal, Glenhaven must spend $250,000 on the properties by April 2003. Glenhaven must also pay Fronteer $10,000 in cash and issue 100,000 shares.
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