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Data review of Frontier’s projects has been initiated by a major gold miner in mid-November and is ongoing.
The company drilled four diamond core holes on the Central Lower Horizon that targeted flat lying and moderate gold mineralised zones. All core samples are still on-site at this stage awaiting batch finalisation and shipment. The drill rig shifted to “Pad 2” in East Creek, to target a 3 metre wide zone that graded 45.2 g/t gold in previous jackhammer channel samples. The geological log from the first hole on Pad 2 indicates significant visible mineralisation and veining in the core from the surface to 25.
Frontier Resources Ltd (ASX:FNT) has completed the review of historical geological and airborne geophysical data for the Baia and Cecelia Projects in Muller Range, Papua New Guinea. The projects were discovered as anomalous copper and gold in stream sediment and were held most recently by Barrick Gold. The primary targets for Frontier are shallow buried porphyry copper-molybdenum-gold mineralisation plus higher grade skarns and epithermal gold.
Frontier Resources (AIM:FRI), is pleased to announce it has conditionally agreed to acquire Concepta Diagnostics Limited ("Concepta"), a pioneering UK healthcare company established in 2013, that has developed proprietary products and a platform, which targets the personalised mobile health market with a primary focus on women's fertility and specifically unexplained infertility. SPARK Advisory Partners is acting as Nominated Adviser and Financial Adviser to the Company with Beaufort Securities as Broker.
The Board of Frontier (AIM:FRI), is pleased to provide shareholders with the final results for the year ended 31 December 2015. Chairman's Statement 2015 was without doubt a very challenging year for the Company. Volatility in global financial markets and the steep decline in oil prices made it exceptionally difficult for the Company to progress its farm-out discussions in respect of its then owned portfolio of oil exploration assets in Africa and the Middle East, and particularly Oman or secure new funding for its oil exploration activities.
Frontier Resources Ltd’s (ASX:FNT) share price has increased recently as the company edges closer to mobilising a drilling team exploring for gold at the Swit Kia Prospect in Bulago, Papua New Guinea. A diamond core drilling program will commence this week on the eastern strike extensions of the Upper Zone within the Swit Kia Prospect. The initial target to be drilled is a 2 metres wide interval that graded a whopping 195 g/t gold from 77-degree south dip in jackhammer trench sampling, followed by the Lower Zone that graded 3 metres at 45.