YUKON If there is an Olympic Dam-type deposit in the Werenecke Breccias of the northern Yukon, Vancouver’s FRONTEER DEVELOPMENT GROUP is determined to find it. The company has mobilized field crews to the area and begun a $2.5-million exploration program. The key component of the program will be a regional airborne gravity survey to aid in the selection of drilling targets.
“The region is grossly under-explored with vast untapped mineral potential,” said Mark O’Dea, Fronteer president & CEO in a news release. “We believe this district has the potential to host both Olympic Dam-style copper-gold-uranium deposits and stand alone uranium deposits.”
Fronteer (www.FronteerGroup.com) is the operator of the project earning an 80% interest, with RIMFIRE MINERAL CORP. earning 20% interest. Subsequent to $2.0 million being spent on the properties by Fronteer, an 80:20 joint venture will be formed with Rimfire, and ongoing exploration expenses will be shared pro-rata, subject to dilution for non-participation.