Fronteer Development & Red Lake Res. Expand Holdings in NW Ontario

摘要

Fronteer Development Group Inc., Vancouver, and Red Lake Resources Inc. have expanded their Swain East property in the Red Lake-Birch Uchi Belt about 75 kilometers east of Red Lake in northwestern Ontario. The companies recently staked an additional 1,318 acres to expand the land holdings in an area where grab samples have returned values of up to 55 grams per ton of gold and 1.39 percent copper from semi-massive sulfide accumulations in mafic pillows. In addition to staking, Red Lake Resources' recently optioned Sol D'Or property was added to the Birch Lake option agreement between Red Lake Resources and Fronteer, as it falls within Fronteer's area of interest. The Swain East, Sol D'Or and Grace Lake properties now comprise a 7,634-acre tract of ground centered over the prominent Swain Lake Deformation Zone, a major D2 shear zone that strikes about E-W. These three contiguous properties are also situated over a highly deformed unconformity separating volcanic strata and overlying Timiskaming-style conglomeratic sediments. Fronteer reports that the presence of this unconformity is very significant, as it indicates proximity to a major rift fault, which formed an important part of the underlying plumbing system for both volcanic massive sulfides and subsequent Red Lake style gold mineralization.