- Frontier Resources’ (FNT) geologists have identified visible gold specks in the recently discovered Guima vein system
- The Guima veins are approximately 900 metres northeast of the historical Kimono vein in Papua New Guinea
- Laboratory results have confirmed mineralisation along the vein system, with assays as high as 2.24g/t gold
- Additional trench and outcrop rock samples are undergoing fire assaying for gold in ALS laboratories
- Frontier Resources is up 12.5 per cent and trading at 1.8 cents per share
Frontier Resources’ (FNT) geologists have identified visible gold specks in the recently discovered Guima vein system.
The newly found Guima vein system is located approximately 900 metres northeast of the company’s historical Kimono vein in Papua New Guinea. The company believes that the Guima system demonstrates the under-explored region of mineralised veining between the Tolukuma mine and Saki vein system located three kilometres to the east.
According to mapping and interpreting along the structures, the Guima system consists of three separate veins, two of which run along the main Guima vein. The two main veins have strike lengths of 620 metres and 580 metres, for a combined strike length of 1.2 kilometres.
The third vein is a mineralised splay vein, interpreted over a 520-metre strike length.
Trace visible gold specks were observed in rock samples, taken from an outcrop along the Guima vein system. Preliminary aqua-regia analysis techniques returned 1.18g/t gold in this area.
Laboratory results have confirmed gold mineralisation along the system of veins, with preliminary aqua-regia results from outcrop rock samples going as high as 1.41, 1.59 and 2.24 g/t gold.
Frontier Resources expects final total recovery gold analysis techniques using fire assay sometime this week. Additionally, a total of 218 trench samples and 54 outcrop rock samples are currently undergoing fire assaying for total gold, by ALS laboratories in Brisbane.
Frontier Resources is up 12.5 per cent, trading at 1.8 cents per share at 10:10 am AEST.