LABRADOR - Vancouver-based FRONTEER DEVELOPMENT says the latest assays from its Michelin uranium project in the Central Mineral Belt are the best since the deposit was first discovered in 1968. Hole M-05-06 intersected 0.11% U3O8 over 63.5 metres.
The intersection in this hole includes three distinct zones of mineralization: 0.13% U3O8 over 7.9 metres from a down-hole depth of 503.3 metres; 0.34% U3O8 over 7.9 metres from a down-hole depth of 524.3 metres; and 0.28% U3O8 over 7.1 metres from a down-hole depth of 542.3 metres. The combined composite interval of these three zones returned 0.25% U3O8 (5.5 lb/tonne) over an intersected width of 22.9 metres. Hole M-05-06 demonstrates the potential for Michelin to expand significantly from its current historical resource. The deeper portion of the Michelin system remains open in all directions.
Two more holes have intersected mineralization at vertical depths of 450 metres and 700 metres. Assays are pending. See www.FronteerGroup.com for details.
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