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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 by User

Post by lhyneson Apr 22, 2005 8:57am
156 Views
Post# 8942171

FRP Acquires Uranium Projects in Peru

FRP Acquires Uranium Projects in PeruFRONTIER PACIFIC MINING CORPORATION 3rd Floor, 853 Richards Street Tel: 1 (604) 717 6488 Fax: 1 (778) 371-9859 Email: info@frontierpacific.com Website: https://www.frontierpacific.com Frontier Pacific Signs an Option Agreement with Solex Resources to earn a 50% interest in Thirty-five Uranium Mineral Concessions, Macusani District, Southern Peru Vancouver, British Columbia – April 21, 2005: Further to the news release dated March 21, 2005, Frontier Pacific Mining Corporation (“Frontier Pacific” or the “Company”) announces that, it has signed an option agreement with Solex Resources Corp. (“Solex”) to earn a 50% interest in thirty-five (35) uranium mineral concessions. These concessions total 30,000 hectares (300 square kilometres) and are located in the Macusani district, Southern Peru and cover over 60 uranium showings and anomalies identified by the Peruvian Institute of Nuclear Energy (“IPEN”). Total exploration expenditures for the Option period have been increased from the US$2 million to US$4 million to reflect the increase in concession areas from the initial 4000 hectares to 30,000 hectares. Detailed exploration is expected to commence in the first week of May 2005. An engineering report conforming to the National Instrument 43-101 guidelines will be initiated at the same time. The report will be authored by Roscoe Postle Associates of Toronto, Canada and the work program will supervised by Dr. W.J. Scott, Ph.D., P.Eng. of GeoScott Exploration Consultants, a qualified person under the National Instrument 43-101 guidelines. Exploration on the project will consist of the following: • Ground radiometric surveys over the known showings to determine the extent of the mineralization. • Detailed mapping, prospecting and channel and chip sampling of the showings. • AlphaTrack radon surveys to identify areas of hidden mineralized zones. • Airborne surveys to track down hidden anomalies if the ground radiometric surveys are successful • Diamond core drilling of the known showings and radiometric and AlphaTrack anomalies if results warrant. Uranium mineralization was confirmed by geologists of Solex, and examined with a scintillometer and a short wavelength ultraviolet lamp by Mohan R. Vulimiri, M.Sc., P.Geo., a director of Frontier Pacific. Mr. Vulimiri is the qualified person responsible for the project with the Company. Nineteen (19) grab samples from a number of prospects with underground and surface workings were collected by Solex geologists, examined by Mr. Vulimiri and sent in for analyses. Fifteen (15) samples returned assay values ranging from 1.5% to 28% U3O8. The samples were analysed at ALS Chemex Labs, North Vancouver, BC, and at SRC Analytical Labs, Saskatoon, Saskatchewan, Canada. Uranium mineralization, in one of the showings with three interconnected underground adits, is exposed over an area of 100 metres by 30 metres. According to recent reports by IPEN, the uranium mineralization is present in the ignimbrite units of Pliocene- Quaternary age. The uranium mineralization occurs in fractures 1 cm to 10 cm in thickness. The most common mineral is meta-autunite and weeksite in certain districts and pitchblende in others. The wallrock was also observed to carry disseminated mineralization comprising of mostly the mineral gummite, and appears to be restricted in ignimbrite units up to 25 meters thick. Other minerals identified are autunite, torbenite, fosforanilite and renardinite. For further details on Frontier Pacific Mining Corporation, please visit the Company's website at https://www.frontierpacific.com. On behalf of the Board of Directors “Peter F. Tegart” Peter F. Tegart, P.Geo., President This press release contains forward-looking statements that involve risks and uncertainties. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the contents herein.
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