NEWSFrontier Pacific - Solex Joint Venture Reports Excellent Drill Results From the Calvario I Prospect, Macusani Uranium Project, Peru
Filing Services Canada Inc.
FSC / Press Release
Frontier Pacific - Solex Joint Venture Reports Excellent Drill Results From the Calvario I Prospect, Macusani Uranium Project, Peru
Vancouver, British Columbia CANADA, July 19, 2007 /FSC/ - Frontier Pacific Mining Corporation (FRP - TSX Venture), ("Frontier Pacific") (the "Operator") and Solex Resources Corp. (TSX-V: SOX) ("Solex") (collectively the "Macusani Joint Venture") are pleased to report results from the first 23 of 52 holes completed on the Calvario I uranium target. The initial results at Calvario I have confirmed the presence of a flat-lying, near-surface ignimbrite volcanic flow containing significant intersections of uranium at a weighted average grade of 0.04% U3O8 (0.72 pounds per ton uranium) over a stratigraphic thickness of 10 metres in an area measuring 350 metres by 325 metres in plan view. Continuing surface radiometric surveys in the district have outlined six additional highly anomalous areas for which drill permits are being applied for to enable drill testing to commence in the fall. These targets are in addition to the eight targets currently being drill tested.
The highlights of the Calvario I drill program are:
* 1m @ 20.08 lbs/ton (1.004%) U3O8 in drillhole CAL07-21
* 2m @ 10.03 lbs/ton (0.502%) U3O8 in drillhole CAL07-22
* 14m @ 1.09 lbs/ton (0.054%) U3O8 in drillhole CAL07-04
* 6m @ 4.83 lbs/ton (0.241%) U3O8 in drillhole CAL07-02
Regional mapping and prospecting have identified at least three stratigraphic ignimbrite layers which host uranium, confirming historical reports that uranium mineralization occurs in multiple horizons. Exploration to date has only concentrated on the two upper, near-surface horizons and the Macusani Joint Venture plans to test some of the deeper units in future drill programs.
Calvario I is the second target to be reported as part of the 20,000 metre shallow diamond drill program currently being carried out to test and measure the uranium content in eight targets in the Macusani district of southeastern Peru. Additional results for Calvario I and the Sayana, Sayana West and Agaton targets that have been drill tested to date will be reported as the assays are received and tabulated over the next few weeks. To date, five targets have been drill tested totalling approximately 17,000 metres of drilling in 250 holes. Drilling is currently continuing on the Puncopata and Sayana targets and is projected to start next month on the Calvario II target.
Drilling has intersected uranium mineralization at Calvario I from surface to depths of approximately 30 metres below natural surface. Mineralization occurs as several mineralogical types disseminated between tuffaceous fragments and within congealing fracture fillings related to cooling of the near-surface flows. Drilling to date has tested the radiometric anomaly contained within a three-square-kilometre concession area. Mineralization is still open to the east with higher grade zones increasing to the east-south-east. A follow-up drill program will be designed to continue delineating this anomaly.
Assay results from the remaining 29 drill holes on Calvario I are expected over the next few weeks. Once a complete set of results have been received from all the drilled targets, a resource potential will be evaluated. An independent consultant will oversee Frontier Pacific's resource estimation with the aim of completing a NI43-101 technical report for the Joint Venture.
Calvario I Prospect Drill Results (For drillhole collar and survey information, maps and drill sections, please visit either www.frontierpacific.com or www.solexresources.com.)
-***-
---------------------------------------------------------------------
From To Interval
Hole ID (m) (m) (m) U3O8 U3O8 U3O8
---------------------------------------------------------------------
ppm % lbs/ton (short)
---------------------------------------------------------------------
CAL07-01 50 52 2 56 0.006 0.112
---------------------------------------------------------------------
CAL07-02 26 32 6 2412 0.241 4.825
---------------------------------------------------------------------
including 26 28 2 7122 0.712 14.243
---------------------------------------------------------------------
CAL07-03 22 34 12 56 0.006 0.112
---------------------------------------------------------------------
CAL07-03 40 51 11 53 0.005 0.105
---------------------------------------------------------------------
CAL07-04 22 36 14 544 0.054 1.089
---------------------------------------------------------------------
including 31 33 2 3383 0.338 6.765
---------------------------------------------------------------------
CAL07-04 49 52 3 61 0.006 0.121
---------------------------------------------------------------------
CAL07-05 21 30 9 52 0.005 0.103
---------------------------------------------------------------------
CAL07-05 37 42 5 59 0.006 0.119
---------------------------------------------------------------------
CAL07-06 24 27 3 83 0.008 0.167
---------------------------------------------------------------------
CAL07-06 39 43 4 55 0.006 0.110
---------------------------------------------------------------------
CAL07-07 27 33 6 196 0.020 0.392
---------------------------------------------------------------------
including 27 28 1 990 0.099 1.979
---------------------------------------------------------------------
CAL07-08 28 35 7 66 0.007 0.132
---------------------------------------------------------------------
CAL07-09 15 30 15 117 0.012 0.233
---------------------------------------------------------------------
including 15 16 1 1066 0.107 2.132
---------------------------------------------------------------------
CAL07-10 24 30 6 61 0.006 0.123
---------------------------------------------------------------------
CAL07-11 16 20 4 137 0.014 0.273
---------------------------------------------------------------------
CAL07-12 27 40 13 57 0.006 0.113
---------------------------------------------------------------------
CAL07-13 17 20 3 59 0.006 0.117
---------------------------------------------------------------------
CAL07-14 1 4 3 95 0.010 0.191
---------------------------------------------------------------------
CAL07-14 16 25 9 50 0.005 0.101
---------------------------------------------------------------------
CAL07-15 0 7 7 362 0.036 0.724
---------------------------------------------------------------------
including 1 3 2 1016 0.102 2.033
---------------------------------------------------------------------
CAL07-16 2 26 24 163 0.016 0.327
---------------------------------------------------------------------
including 2 3 1 3080 0.308 6.159
---------------------------------------------------------------------
CAL07-17 17 32 15 131 0.013 0.262
---------------------------------------------------------------------
including 17 18 1 958 0.096 1.916
---------------------------------------------------------------------
CAL07-18 16 42 26 139 0.014 0.278
---------------------------------------------------------------------
including 20 21 1 1599 0.160 3.199
---------------------------------------------------------------------
including 25 26 1 958 0.096 1.916
---------------------------------------------------------------------
CAL07-19 18 21 3 101 0.010 0.203
---------------------------------------------------------------------
CAL07-20 13 25 12 106 0.011 0.213
---------------------------------------------------------------------
including 14 15 1 624 0.062 1.247
---------------------------------------------------------------------
CAL07-21 33 57 24 464 0.046 0.929
---------------------------------------------------------------------
including 34 35 1 10039 1.004 20.078
---------------------------------------------------------------------
CAL07-22 26 57 31 368 0.037 0.736
---------------------------------------------------------------------
including 32 34 2 5016 0.502 10.032
---------------------------------------------------------------------
CAL07-23 53 61 8 63 0.006 0.126
---------------------------------------------------------------------
-****-
NOTE: Lower cut-off grade = 0.005% (or 50ppm) U3O8 for 0.100 lbs/ton; No top cut was applied.
The Macusani Joint Venture is now being funded equally by Frontier Pacific and Solex with Frontier Pacific continuing to be the operator of the venture. Frontier has informed Solex that it has completed the US$4-million exploration expenditure component of its option to earn a 50% interest in the project.
Community Relations and Agreements
The Macusani Joint Venture has recently received continued community approval from the Isivilla Community to carry out further detailed exploration work in and around the Calvario I and Puncopata prospects. Frontier Pacific has been directly involved with all the communities in the Macusani district since they began active exploration in 2006. Sponsored community programs such as school construction, equipping the schools with computers, agricultural assistance programs, employment with the exploration and drill crews, and a variety of community aid programs have been carried out by Frontier Pacific.
The analyses from drilling at Calvario I are being performed by ACME Laboratories Ltd. ("ACME"), Vancouver, B.C., Canada. ACME has a preparation laboratory in Lima, Peru.
Ian F. Laurent, M.Econ.Geol. MAIG (Vice President - Exploration; Frontier Pacific) is a member of the Australian Institute of Geoscientists, a Competent Person, responsible for the technical content of this news release and a Qualified Person under Canadian Securities Administrators National Instrument 43-101.
On Behalf of the Board of Directors of
FRONTIER PACIFIC MINING CORPORATION
"Peter F. Tegart"
Peter F. Tegart, P. Geo., President & CEO
On Behalf of the Board of Directors of
SOLEX RESOURCES CORP.
Per: "Jonathan Challis"
Jonathan Challis, President & Director
The TSX Venture Exchange (the "Exchange") has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may contain forward-looking statements that are based on Frontier Pacific or Solex expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
FOR FURTHER INFORMATION:
Frontier Pacific Mining Corporation
Brian Lock
Executive Vice President
Tel: (604) 717-6488
Fax: (604) 717-6427
E-mail: info@frontierpacific.com
Website: www.frontierpacific.com
Solex Resources Corp.
Shirley Zhou
Investor Relations
Tel: (604) 646-7210 Ext. 103
Toll Free: 1-877-646-4488
E-mail: shirley@solexresources.com
Website: www.solexresources.com
News By Filing Services Canada, Distributed By The Richmond Club
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.co