FRONTEER DEVELOPMENT GROUP believes it will find economic iron oxide-copper-gold (IOCG) deposits in the Northwest Territories. It has completed a reconnaissance survey of four properties, which confirms the potential for such mineralization in the Bear structural province.
All four of the properties are related to and lie within regional-scale IOCG systems. The Achook property on the northeastern shore of Great Bear Lake has several gold and copper showings. One grab sample returned values of 10.3% Cu and 4.0 g/t Au. The Conjuror property is located immediately north of the Terra Peninsula, which hosts former Ag-Co-Cu mines. The best grab samples there assayed 1.75% Cu and 0.35 g/t Au. The best results from the McPhoo property on the eastern edge of the Bear Province came from a 1.7-m-wide chip sample grading 1.22% Cu and from a 0.60-m-wide sample grading 1.75% Cu and 0.35 g/t Au. The Flex property, also on the eastern edge of the Bear Province, is cut by arrays of copper- and gold-bearing quartz veins. A float sample there returned 11.24% Cu, 0.47 g/t Au and 632 ppm Bi.
Fronteer says it has begun to discuss further exploration opportunities on its properties with major mining companies. Dr. Geordie Mark has been retained to compare the geochemistry of rocks from the properties with other IOCG systems around the world.
Keep abreast of further developments by calling Fronteer president Mark O'Dea at 604-632-4677 or write to [email protected]