Frontier Resources (ASX: FNT) has delivered a 128,000oz maiden Inferred Mineral Resource at its Saki gold prospect in Papua New Guinea following independent analysis of historical drilling and geological mapping.
The result, which was generated partly from a series of 46 historic diamond holes totalling over 4,191m, weighed in at 2.0 Mt @ 2.0 g/t gold for 128,000 oz Au.
Speaking on the news, Frontier Resources Technical Director Brian Thomas said: “This maiden Mineral Resource Estimate for the Saki Gold Prospect is an exciting step for Frontier in unlocking the potential of Saki. Recent geological mapping and trench sampling has allowed Frontier to better understand the controls on gold mineralisation, and this has been incorporated into the interpretation of historic diamond drilling.
“The new Mineral Resource provides Frontier with a solid basis for planning further work to infill and extend the mineralisation”
The new Mineral Resource provides Frontier with a solid basis for planning further work to infill and extend the mineralisation. Frontier is in the process of evaluating a haul road between Saki and the nearby Tolukuma Gold Mine, which will allow site access for trucks.”
The Saki prospect is located approximately 100km north of Port Moresby in Papua New Guinea, and 3km east of the Tolukuma Gold Mine.
Saki is an epithermal gold deposit, with mineralisation situated within a series of north‐west striking veins that outcrop or sit close to surface.
Frontier had earlier reported results from a mapping, trench and rock sampling program at the prospect, with ‘significant’ gold and silver grades achieved along the Saki III vein. This included trench sample results of 1m @ 128.5g/t Au & 94g/t Ag, 3m @ 40.28g/t Au & 27.92g/t Ag; including 1m @ 115.0g/t Au & 54.1g/t Ag.
Map displaying the Saki‐Yava system of gold veinsThe company notes that the veins have only been tested to a depth of 120m, which is says provides upside for potential further strike and depth extensions. In addition, gold grades appear to be controlled by a ‘flattish’ plunge to the north, which may provide opportunity for new drilling.
Moving forward, scoping economic studies are expected to be carried out prior to additional drill work.
Images: Frontier Resources Limited
