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Fronteer (FRG), AuEx Ventures (XAU.to) and Long Canyon

News out from both companies about their JV asset, Long Canyon in Nevada.

The FRG version is on this link

The XAU.to version is on this link

Here’s how the FRG PR kicks off (and after reading the first para, any minehead will want to click through and read the whole thing).

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 09/17/09) – Fronteer Development Group Inc. (TSX:FRGNews)(AMEX:FRGNews) announces today that new drilling along Long Canyon’s intensely altered West Zone has extended high-grade oxide gold mineralization an additional 200 metres along strike.

The West Zone is one of five parallel elongate gold zones that make up the evolving Long Canyon deposit. Examination of drill core from the West Zone suggests that alteration intensity is increasing westward, and additional drilling may lead to identification of a feeder zone or zones toward the west. Highlights from important new step-out holes from the West Zone include:

– 7.39 grams per tonne gold (0.216 ounces per ton) over 12.7 metres, including 28.70 g/t (0.838 oz/ton) over 2.7 metres in LC285C;

– 12.52 g/t (0.366 oz/ton) over 12.5 metres, including 40.10 g/t (1.171 oz/ton) over 3.6 metres in LC291C; and

– 2.50 g/t gold (0.73 oz/ton) over 23.0 metres, including 9.62 g/t (0.281 oz/ton) over 3.0 metres in LC292C.

The IKN Weekly subscribers know how much I like both stocks; quality mgmt, quality assets, serious juniors. And by way of a reminder, Nevada is where Newmont (NEM) is looking to gather resource ounces in the future. Yeah, that’s the same Newmont that has just raised U$2Bn for expansion and M&A reasons.

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