Frontier Resources (ASX:FNT) has revealed soil assays from exploration program conducted in early 2013 at Gasmata in New Britain, Papua New Guinea. The project is joint ventured with fellow listed microcap Quintessential Resources (ASX:QRL) on 50%-50% basis.
Assays have delineated a 2 kilometre long north-east trending Mineralised Fault Zone with strong arsenic and uranium anomalism, with encouraging levels of gold, silver, copper, zinc, antimony, molybdenum and tellurium.
Reconnaissance exploration soil and rock sampling was conducted over the bullseye aeromagnetic target and circular topographic feature located at a major structural intersection with a gold/silver within a drainage anomaly.
Grid based soil sampling was completed over the entire area, but only the 174 samples from the western half were analysed. One 52m long trench was completed with 13 soil samples 32 rock samples collected.
All samples were analysed for gold and 44 other elements.
Targets are porphyry copper/gold and sulphidated epithermal gold deposits that could occur within the lightly explored volcanics and/or under limestone 'cover' rocks near major structural intersections.
The program has confirmed that a moderate iron/titanium and weak copper mineralised intrusive system is present in the north-west sector, and the possibility for locating copper and/or gold mineralisation at the Bullseye Prospect and at two other 'bullseye' aeromagnetic targets within the license.
Whilst early days, the fault zone is quite large and the results demonstrate the potential of the area.
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