Frontier Resources (FNT) announced today that it had commenced its exploration program on the under-explored and highly prospective Southern Mount Read Volcanics (SMRV) project in southwest Tasmania.
The SMRV project covers 57 square km and is considered prospective for very high-grade volcanic-hosted massive sulphide deposits (VHMS) which normally consist of 90% iron sulphide, plus hybrid VHMS gold deposits
The target is a Rosebery / Hellyer type high-grade, high tonnage, zinc-lead-silvergold, VHMS deposit.
Previous high grade drill results at the Wart Hill Prospect have returned a strong presence of mineralisation.
The base and precious metal mineralised horizon at Wart Hill was tracked plunging for 290m by Frontier's previous drilling, before being faulted off at the southern end.
The main focus of the exploration work will be to increase known tonnage in this "faulted off" mineralisation at depth in the south of the Wart Hill prospect
Shares in the minerals exploration company rose by as much as 16% at one point today, before dropping back slightly to close up by 8% at 13.5 cents.
