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Bullboard - Stock Discussion Forum FairPoint Communications FRP

"FairPoint is the seventh- largest local telephone firm in the United States, following its acquisition of Verizon's northern New England assets. It operates in 18 states serving 1.4 million access lines, though nearly 90% of these are in Maine, New Hampshire, and Vermont. The firm was founded in 1991 and has its headquarters in Charlotte, N.C."

NDAQ:FRP - Post Discussion

FairPoint Communications > News Release, April 2, 2007
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Post by FrontierNews on Apr 02, 2007 2:47pm

News Release, April 2, 2007

Official News Release: https://frontierpacific.com/media/prv_1175525307.pdf First 54 holes on Calvario III at Macusani indicate a continuous, near surface, 10 metre thick zone of U3O8 grading 0.32 lbs/ton over a 158,000 square metre surface area Vancouver, British Columbia – April 2, 2007 - Frontier Pacific Mining Corporation (TSX-V: FRP) (”Frontier Pacific”), (the “Operator”) and Solex Resources Corp. (TSX-V: SOX) (“Solex”), (collectively the “Joint Venture Participants”) are pleased to report very encouraging initial results from the first 54 diamond drill holes on the Calvario III, near surface uranium target. Phase 1 drilling is now complete on the Calvario III target and two rigs are now drilling on the Agaton and Sayana West targets where permits have recently been granted. Drilling on the new targets is part of an additional 440 drill holes planned as part of the current program to define resources on a further 7 delineated targets. Calvario III Results: HIGHLIGHTS • 1m @ 15.6 lbs/ton U3O8 (in drillhole CIII07-26) • 1m @ 11.2 lbs/ton U3O8 (in drillhole CIII07-54) • 3m @ 6.5 lbs/ton U3O8 (in drillhole CIII07-28) • 2m @ 3.8 lbs/ton U3O8 (in drillhole CIII07-35) • 1m @ 3.5 lbs/ton U3O8 (in drillhole CIII07-05) • 1m @ 3.4 lbs/ton U3O8 (in drillhole CIII07-19) The first 54 drill holes, of the completed 61 hole program on the Calvario III target confirmed a flat lying ignimbrite volcanic flow containing a weighted average grade of 0.016% or 0.32 pounds per ton (based on a short ton of 2,000 lbs) uranium (U3O8) over a stratigraphic thickness of 30 feet (10 metres) and an area measuring 350 metres by 450 metres in plan view. Average depth to the uraniferous ignimbrite varies from zero to 40 metres on top of the small hills. The drill results show excellent continuity of uranium grade within the ignimbrite flow throughout the stratigraphic zone. The uraniferous ignimbrite flow is continuously mineralized under the capping flows exposed on the top of the small hills flanking the valley exposure. Drilling to date at Calvario III has tested only a small portion of the radiometric anomaly contained within the four square kilometre concession area. Mineralization is still open to the north, west and south with higher grade zones increasing to the north-west. A follow-up drill program will be designed to continue delineating this resource. The Joint Venture Participants are very encouraged by the potential economic significance of the Calvario III target particularly given the current uranium spot price of US$95 per lb and the positive initial leach tests that were carried out by Melis Engineering based in Saskatoon. Typical large scale Open Pit Heap Leach operations in Peru at similar locations have mining and processing costs averaging between US$5 to US$7 per ton. A complete resource analysis of the Calvario III target area will be undertaken to better understand the economic potential of the target. Assay results from an additional 7 drill holes on Calvario III are expected shortly. Reportable results from drilling have been slow to gather because of the rigorous procedure to prepare and transport the samples to Ancaster, Ontario, for analysis. Based on the encouraging uranium grades seen in drill holes and projected continuity of results between drill holes, Frontier Pacific decided it was important to release this information to our shareholders prior to having all the results from Calvario III, as indicated in the last news release dated January 23, 2007. Drilling commenced on the Calvario III target at the end of 2006 after the granting of a drill permit by the Government of Peru. Calvario III was not the highest priority target of the initial 8 targets generated by the Operator, but was the first for which a permit was awarded. The target was a previously untested, hidden geophysical target and as a result, the Joint Venture Participants are particularly pleased with these initial results. Results from the Calvario III drilling constitutes part of the planned US $2.5 million, 20,000 metre, 500 hole drill program to test up to eight widely separated targets on the extensive Macusani Uranium Project in Southern Peru. Detailed Drill Results Calvario III Target found on frontierpacific.com Drilling Report: https://frontierpacific.com/pdf/Calvario_III_Drilling_Report.pdf Calvario Drill Section: https://frontierpacific.com/media/prv_1175539176.pdf The uranium found in the drilling at Calvario III occurs as several mineralogical types, disseminated between tuffaceous fragments and within congealing fracture fillings related to cooling of the near surface flows. At Calvario III only the near surface flow was tested by drilling at this time. In several locations the favourable uraniferous ignimbrite flows appear stacked one on top of the other and separated in most cases by barren or low grade ignimbrites. The better grades of uranium are related to coarse fragmental tuffs suggesting proximity to volcanic necks. New Targets Surface ground radiometric surveys are currently being carried out on approximately 6 uranium targets that were identified by prospecting and geologic mapping carried out this past year. Particular emphasis is being placed on uranium targets exposed at surface that exhibit volcanic neck appearances and conical fracture systems that returned scintillometer readings over 10,000 counts per second over wide dimensions of 300 metres or more. These targets lie in the remote western area of the concession holdings and the Operator recently received community approval to carry out further detailed exploration work. These targets are not well understood compared to the uraniferous ignimbrite flows that are currently being drilled. The initial interpretation of these volcanic neck targets is that they represent the source of the uranium found in the stratabound ignimbrite flows. The intent of this work is to elevate the level of understanding of these uranium occurrences in order that drill programs can be planned and permitted. Drilling Commenced on Two More Targets Additional permits have been received and the drill rig has been removed from Calvario III and is currently drilling on the Agaton near surface uranium target outlined by a strong radiometric anomaly that measures approximately one square kilometre in size. A second drill rig has been mobilized to the area and is currently drilling on the Sayana West near surface uranium target measuring approximately a half square kilometre in surface area. Approximately three drill holes per day are completed by the two rigs on these target areas. The balance of the drill permits are expected to be approved by the Ministry of Mines in the next few weeks. Final observations have been received for an additional three drill permits covering the Calvario I, Puncopata, and Calvario II targets. Permits are slow to be issued by the Ministry of Mines because they require complete details on the scope of work and underlying surface access agreements. It is projected that a third drill rig will be mobilized to these targets when the permits are received. Community Access Agreements in Place Frontier Pacific has negotiated and maintains five access agreements with land holding communities and private land owners. Excellent working relationships have been established with the local communities who, in addition to the access agreements, are providing needed labour to the program. The drills are portable by hand and minimal ecological disturbance results from the work. A regular surface water monitoring survey has been implemented to ensure an accurate record of discharge from the drill site areas. The drill sites are immediately reclaimed to the standards encountered before work started. The analyses of core samples from Macusani drilling are being performed by Activation Laboratories Ltd. (“Actlabs”), Ancaster, Ontario, Canada. Actlabs has a preparation laboratory in Lima, Peru. Peter Tegart, P.Geo., President and CEO of Frontier Pacific and Mohan R. Vulimiri, M.Sc. P.Geo., Chairman of Frontier Pacific are Qualified Persons under the guidelines of National Instrument 43-101 policies, and are responsible for the contents of this news release. About Frontier Pacific: Frontier Pacific is focused on the development of the advanced Perama Hill gold project in northern Greece, held by its subsidiary Thracean Gold Mining S.A. In addition to Perama Hill, the Company holds an option to earn a 50% interest in the Macusani Uranium Project from Solex Resources Corp.(TSX-V: SOX) under the terms of an Option and Joint Venture Agreement signed April 19, 2005. Please visit https://www.frontierpacific.com for more information on Frontier Pacific. On Behalf of the Board of Directors, FRONTIER PACIFIC MINING CORPORATION “Peter F. Tegart” Peter F. Tegart, P. Geo., President & CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events and/or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the Company.. There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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