Welcome to Frontier Resources Ltd
Frontier Resources Ltd is an Australian Stock Exchange listed (FNT) junior mineral exploration company, whose shares also trade on the Frankfurt, Berlin and Munich Stock Exchanges. Frontier seeks to return significant value to its shareholders through the discovery, delineation and development of copper, gold and basemetal deposits in Papua New Guinea (PNG) and Australia.
The Company's focus is the rapid exploration and possible further development of the Kodu copper-gold - molybdenum Deposit in PNG. In addition, the Bukuam porphyry copper- gold- silver- molybdenum, Andewa gold and Elo porphyry copper- gold- molybdenum prospects (all previously undrilled) in PNG are all scheduled for drill evaluation in 2007. The other properties will be joint ventured, perhaps separately listed, or maintained and advanced.
The Kodu Deposit contains an Inferred Resource of 543,000 tonnes of copper equivalent, grading 0.50% in 108 million tonnes grading 0.33% copper, 0.42 g/t gold and 60ppm molybdenum(calculated at 4/07 metal prices). The project is conveniently located for exploration and possible development about 55km NE of the capital of Port Moresby and 20km from highway access. An access track to site was completed mid-March, 2007.
Frontier commenced resource delineation and expansion drilling at Kodu in October 2006 and it is ongoing with 2 of the Company’s own, continuously operating, diamond coring rigs. Twenty eight holes total have been drilled to date for about 9,020m.
The Company’s short term goal is to convert a significant portion of the current Inferred Resource to Indicated status and also to significantly increase the total tonnage of the deposit. The intent is to release a revised Inferred Resource in early June, then again in early August 2007, then likely commence a pre-feasibility study to evaluate possible development paths and requirements.
A desktop economic evaluation assuming a body of mineralisation of 120 M tonnes (in a relatively accessible location in PNG) grading 0.36% copper plus 0.47 g/t gold (with no molybdenum credit), shows a possibly robust project with a theoretical IRR of 55%, NPV of $US516 million and cumulative cash flow of $US1,301 million (using close to current prices of $US2.80lb copper and $US640 /oz gold). NB: this desktop study does not relate to the Kodu Inferred Resource and should not be relied upon for investment decisions.
Frontier’s properties offer excellent mineral deposit potential, with primary targets being World Class and major copper- gold- molybdenum, gold- silver and polymetallic (zinc-lead-silver) deposits. The properties all have high-grade historic exploration results and are in the same or similar geological terranes as existing World Class and/or major mines. The Company is committed to maintaining its responsibilities to all relevant stakeholders, including shareholders, local indigenous communities, the PNG Government and the environment.
The Frontier Directors and management team have more than 120 years combined experience in mineral exploration, project development and financing in Papua New Guinea and Tasmania, to ensure the Company has the best possible opportunity to achieve success.
* Updated May 8, 2007
Width of Drilled Mineralisation at the Kodu Deposit Increased by 100 to 200% (to 400m total) on section 9950N
Hole KFD004 Assay, Discussion of Results & Strategy Forward Kodu Deposit, Papua New Guinea
The New Bukuam Mineralised System Continues to Progress and Impress
Contained Copper Equivalent at Kodu Up 19% to 604,000 tonnes
This is from the website of FNT, note the goal of some more results in early june