| Announcement Date: | 2022-02-28 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Frontier Resources Ltd. |
| Project name: | Saki |
| Location: | Papua New Guinea |
| Commodities: | Gold |
| Highlight: | Initial Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Frontier Resources Limited (Frontier or the Company) is pleased to announce the results of an independent analysis of historical drilling coupled with Frontier’s recent geological mapping to produce a Maiden Inferred Resource Estimate of the Saki gold prospect in Papua New Guinea (Figures 1 and 2). Frontier requested Steve Rose of Rose and Associates, Mining Geology Consultants (RMG), carry out a Mineral Resource estimate over the Saki Gold Prospect. Saki is an epithermal gold deposit, with mineralisation sitting in a series of north‐west striking veins which outcrop or lie close to surface. Saki has 46 historical diamond drill holes for a total of totalling 4191.85 metres. Recent mapping by Frontier geologists showed the extent and outcrop of mineralised veins and together with trenching results has allowed the Mineral Resource to be classified. The veins have been modelled to reflect Frontier’s mapping and there appears potential for further strike extensions, particularly for Saki‐1, Saki‐3, Saki‐4, and Saki‐5 veins. The veins are only tested down to a depth of 120m below surface. Grade seems to be controlled by a flattish plunge to the north, which if applied to new drilling could see improved success rates. |
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