Frontier Pacific & Solex Joint Venture Intersects 8 Metres of 0.373% U3O8 at Puncopata Prospect, Macusani Uranium Project, Peru
16 Gennaio 2008 - 2:00PM
Marketwired Canada
Frontier Pacific Mining Corporation (TSX VENTURE:FRP) ("Frontier Pacific") and
Solex Resources Corp. (TSX VENTURE:SOX) ("Solex"), (collectively the "Venture
Participants") are pleased to report very encouraging results from a completed
12-hole drill program at their Puncopata near-surface uranium target. This drill
program formed part of the 24,000-metre program that was conducted in 2007 to
test an initial seven targets on the extensive Macusani uranium project in
southern Peru.
Puncopata Results
HIGHLIGHTS
- 8m @ 7.5 lbs/ton (0.373%) U3O8 (in drillhole PUN07-01)
- 7m @ 3.8 lbs/ton (0.189%) U3O8 (in drillhole PUN07-09)
- 2m @ 2.5 lbs/ton (0.125%) U3O8 (in drillhole PUN07-02)
The Puncopata prospect is located 1 km southwest of the Calvario I prospect and
is part of the Calvario Group that consists of prospects Calvario I, Calvario
II, Calvario III and Puncopata in the northern part of the Macusani project. A
map showing the location of the targets is available at www.frontierpacific.com
and www.solexresources.com.
The 12 drill holes targeted the east-west radiometric anomaly at Puncopata and
confirmed a near-surface, flat lying ignimbrite volcanic flow containing a
weighted average grade of 0.055% U3O8 (552ppm U3O8) or 1.1 pounds per ton (U3O8)
over an average stratigraphic thickness of 4.0 metres covering an area measuring
800 metres by 150 metres in plan view. The drill results show excellent
continuity of uranium grade within a strata-bound westerly-terminating wedge of
the T2 ignimbrite volcanic flow. Mineralization remains open to the east.
Uranium mineralization found through drilling at Puncopata occurs as several
mineralogical types, disseminated between tuffaceous fragments and within
congealing fracture fillings related to cooling of the near-surface flows. In
several locations, the favourable uraniferous ignimbrite flows appear stacked
one on top of the other and separated in most cases by barren or low grade
ignimbrites.
The application for drill permits to further define the mineralization and
potential resource at Puncopata has begun. A follow-up drill program will be
included as part of the 2008 (20,000 metres) drill program scheduled to begin
during the first quarter of 2008.
Drill results from the Puncopata Prospect
(Drillhole collar and survey information can be found at
www.frontierpacific.com and www.solexresources.com).
----------------------------------------------------------------------------
U3O8
From To Interval lbs/ton
Hole ID (m) (m) (m) U3O8 ppm U3O8% (short)
----------------------------------------------------------------------------
PUN06-01 23.2 39.2 16.0 394 0.039 0.79
----------------------------------------------------------------------------
PUN06-01 46.2 47.2 1.0 217 0.022 0.43
----------------------------------------------------------------------------
PUN06-03 17.5 22.5 5.0 129 0.013 0.26
----------------------------------------------------------------------------
PUN06-03 28.5 30.5 2.0 159 0.016 0.32
----------------------------------------------------------------------------
PUN06-03 33.5 43.5 10.0 196 0.020 0.39
----------------------------------------------------------------------------
PUN06-04 31.5 40.5 9.0 199 0.020 0.40
----------------------------------------------------------------------------
PUN06-05 31.5 32.5 1.0 1008 0.101 2.02
----------------------------------------------------------------------------
PUN06-05 37.5 38.5 1.0 1392 0.139 2.78
----------------------------------------------------------------------------
PUN06-05 42.5 43.5 1.0 334 0.033 0.67
----------------------------------------------------------------------------
PUN06-05 48.5 49.5 1.0 101 0.010 0.20
----------------------------------------------------------------------------
PUN06-06 20.5 22.5 2.0 126 0.013 0.25
----------------------------------------------------------------------------
PUN06-06 27.5 28.5 1.0 3641 0.364 7.28
----------------------------------------------------------------------------
PUN06-06 33.5 39.5 6.0 242 0.024 0.48
----------------------------------------------------------------------------
PUN06-07 9.5 10.5 1.0 242 0.024 0.48
----------------------------------------------------------------------------
PUN06-08 25.5 26.5 1.0 1904 0.190 3.81
----------------------------------------------------------------------------
PUN06-09 14.5 20.5 6.0 775 0.077 1.55
----------------------------------------------------------------------------
PUN06-09 26.5 35.5 9.0 138 0.014 0.28
----------------------------------------------------------------------------
PUN06-10 12.5 13.5 1.0 263 0.026 0.53
----------------------------------------------------------------------------
PUN06-10 21.5 22.5 1.0 478 0.048 0.96
----------------------------------------------------------------------------
PUN06-10 30.5 31.5 1.0 227 0.023 0.45
----------------------------------------------------------------------------
PUN06-11 NSI
----------------------------------------------------------------------------
PUN06-12 NSI
----------------------------------------------------------------------------
PUN07-01 37.0 38.0 1.0 324 0.032 0.65
----------------------------------------------------------------------------
PUN07-01 58.0 66.0 8.0 3730 0.373 7.46
----------------------------------------------------------------------------
PUN07-01 71.0 73.0 2.0 153 0.015 0.31
----------------------------------------------------------------------------
PUN07-01 77.0 78.0 1.0 363 0.036 0.73
----------------------------------------------------------------------------
PUN07-02(i) 15.0 19.0 4.0 91 0.009 0.18
----------------------------------------------------------------------------
PUN07-02 24.0 28.0 4.0 346 0.035 0.69
----------------------------------------------------------------------------
PUN07-02 37.0 39.0 2.0 1248 0.125 2.50
----------------------------------------------------------------------------
PUN07-02 50.0 51.0 1.0 165 0.017 0.33
----------------------------------------------------------------------------
PUN07-02 67.0 68.0 1.0 169 0.017 0.34
----------------------------------------------------------------------------
PUN07-02 74.0 78.0 4.0 177 0.018 0.35
----------------------------------------------------------------------------
PUN07-03 71.0 72.0 1.0 329 0.033 0.66
----------------------------------------------------------------------------
PUN07-04 73.0 74.0 1.0 112 0.011 0.22
----------------------------------------------------------------------------
PUN07-05 15.0 19.0 4.0 104 0.010 0.21
----------------------------------------------------------------------------
PUN07-05 22.0 23.0 1.0 394 0.039 0.79
----------------------------------------------------------------------------
PUN07-05 26.0 34.0 8.0 214 0.021 0.43
----------------------------------------------------------------------------
PUN07-06 29.0 32.0 3.0 297 0.030 0.59
----------------------------------------------------------------------------
PUN07-07 31.0 33.0 2.0 112 0.011 0.22
----------------------------------------------------------------------------
PUN07-08 24.0 31.0 7.0 195 0.020 0.39
----------------------------------------------------------------------------
PUN07-09 21.0 28.0 7.0 1893 0.189 3.79
----------------------------------------------------------------------------
PUN07-10 19.0 22.0 3.0 200 0.020 0.40
----------------------------------------------------------------------------
PUN07-10(i) 26.0 30.0 4.0 81 0.008 0.16
----------------------------------------------------------------------------
PUN07-11 22.0 32.0 10.0 282 0.028 0.56
----------------------------------------------------------------------------
PUN07-12 23.0 32.0 9.0 405 0.041 0.81
----------------------------------------------------------------------------
NOTE: Lower cut-off grade = 0.01% (or 100ppm) U3O8 for 0.200lbs/ton;
No top cut was applied.
NOTE: For completeness - Results from 2006 drilling are included and used
for calculation of average drill intercept grade.
NOTE: For completeness - Holes PUN07-02 and PUN07-10 used a lower cut-off
grade = 0.005% (50ppm) U3O8 for 0.1 lbs/ton.
Ian F. Laurent, M.Econ.Geol. MAIG (Vice President - Exploration; Frontier
Pacific) is a member of the Australian Institute of Geoscientists, a Competent
Person, responsible for the technical content of this news release and a
Qualified Person under Canadian Securities Administrators National Instrument
43-101. Peter F. Tegart, P.Geo, and Jonathan Challis FIMMM are Qualified Persons
under Canadian Securities Administrators National Instrument 43-101 policies,
and are responsible for the contents of this news release.
On Behalf of the Board of Directors of
FRONTIER PACIFIC MINING CORPORATION
Peter F. Tegart, P. Geo., President & CEO
On Behalf of the Board of Directors of
SOLEX RESOURCES CORP.
Jonathan Challis, President & Director
This news release may contain forward-looking statements that are based on
Frontier Pacific or Solex expectations, estimates and projections regarding its
business and the economic environment in which it operates. These statements are
not guarantees of future performance and involve risks and uncertainties that
are difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the occurrence
of future events or circumstances, unless otherwise required to do so by law.
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