Frontline Gold Corp.

Published : January 11th, 2011

Frontline Gold Corporation

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Keywords :   Canada | Gold | Mali | Market | Silver |

News Release

 

Frontline Gold Corp.

 

Frontline Gold Corporation reports the expansion of its Stewart Gold Camp Projects, NW BC

 

HALIFAX, NOVA SCOTIA - (Marketwire � January 11, 2011) -- Walter Henry, President and CEO of Frontline Gold Corporation ("Frontline") (TSX Venture: FGC) announces the expansion of the Poly and Stewart Au-Cu Projects located in the Stewart Gold Camp. 

Poly Expansion and Option of Lord Nelson Tenures

Based on the positive results obtained from the 2010 exploration work on the Poly Property reported in the FGC Press Release of November 29, 2010 the Poly Project has been enlarged to include the Lord Nelson Tenures (�the LNT�). The LNT comprise about 2450 hectares contiguous with the southeast boundary of the Poly Property.

Geofine Exploration Consultants Ltd. (�Geofine�) optioned the LNT from Teuton Resources Corporation by an option agreement dated October 26, 2010 (the �Teuton Option�). Pursuant to the strategic alliance between Geofine and Frontline the tenures, which fall within the Area of Influence of the Poly Property, were offered to Frontline and by an assumption agreement dated December 30, 2010 (the Geofine-Teuton Assumption�) Frontline assumed the Teuton Option.  Pursuant to the Geofine-Teuton Assumption Frontline will reimburse Geofine its initial $15,000 option payment by issuing to the Weekes� Investment Group (�INV�) 88,236 shares at a value of $0.17 per share. The shares will be issued to Ralph R. Weekes (35,294 shares), John L. Tranter (26,471 shares) and James R. Cameron (26,471 shares). To maintain the Teuton Option Frontline will be required to make option payment totaling $195,000 and incurring exploration expenditures totaling $1,200,000 over five years as follows:

 

Date

Payments

Exploration Expenditures

November 1, 2011

$25,000 (or shares in lieu)

$100,000

November 1, 2012

$35,000

$200,000

November 1, 2013

$40,000

$200,000

November 1, 2014

$40,000

$300,000

November 1, 2015

$50,000

$400,000

Totals

$195,000

$1,200,000

The LNT is subject to a 2% Net Smelter Return royalty subject to a 1% buy-back for $1,000,000. If the Teuton Option is exercised then advance royalty payments of $50,000 per annum subject to inflation adjustment will commence November 1, 2016. The Geofine-Teuton Assumption and the Teuton Option do not require TSX approval; the issuance of the 88,235 will requires TSX approval.

The LNT cover the postulated southeastern extension of the favorable VMS environment on the Poly Property and includes a number of gossan zones and structural fabric along strike of the principal targets on the Poly Tenures.  The LNT are also contiguous to the west with the Mountain Boy Minerals Ltd. and Great Bear Resources Ltd. BA Project that hosts the BA Ag-Pb-Zn deposit 5 km to the west.  The LNT are also contiguous on the south with the Sabina Gold & Silver Corp. and Teuton Del Norte Project, which hosts VMS style and vein-type gold-silver mineralization. FGC has the right to earn a 100% interest in the Poly Property subject to the underlying NSR royalties.

The Stewart Project Expansion

The Stewart Project has been expanded by the staking of 3 additional tenures that comprise 800 hectares contiguous with the northwest boundary of the Stewart Property.  The new tenures fall within the Area of Influence of the Stewart Property and will be governed by the Stewart Option Agreement. FGC has the right to earn a 100% interest in the Stewart Property subject to the underlying NSR royalties.  The additional ground covers the along strike extension of a number of historic IP and conventional soil geochemical anomalies, the importance of which has been confirmed by a 2010 follow-up MMI-M soil survey. The target is stratabound base metal mineralization associated with buried Hazelton Group stratigraphy in close proximity to the Stewart-Cassiar Hwy 37, along which the Northwest Transmission Line will be constructed.  A 2011 drill program will be recommended on the Stewart Project, including the principal Deltaic Grid Au-Cu porphyry target, once the results of the 2010 VTEM airborne survey, flown over most of the Property, have been received. The 2010 exploration program was supervised by Geofine Exploration Consultants Ltd. under the direction of David Molloy, P.Geo

Stewart Property Payment

Further to Frontline`s news release of December 15, 2010, a Stewart Project property payment of 42,857 shares was made, the required TSX approval having been received.

 

Frontline has an experienced management group, a solid exploration team and a promising portfolio of gold exploration projects in the Stewart and Red Lake Camps of Canada and in the heart of the prolific West African gold belt in Niaouleni, West Mali, offering investors an excellent opportunity.

Please visit our website at www.frontlinegold.com for
 the most recent presentation.

If you wish to unsubscribe from the email news service, please reply with REMOVE in the subject line.

On Behalf of the Board
Walter Henry, CFA, ICD.D.
President & CEO

Frontline Gold Corporation
1550 Bedford Highway
Suite 802
, Sun Tower
Bedford, NS B4A 1E6
Tel.: (902) 832-5555   

Fax: (902) 832-2223   

info@frontlinegold.com

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

.
Data and Statistics for these countries : Canada | Mali | All
Gold and Silver Prices for these countries : Canada | Mali | All

Frontline Gold Corp.

EXPLORATION STAGE
CODE : FGC.V
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Frontline Gold is a gold exploration company based in Canada.

Frontline Gold holds various exploration projects in Mali and in Turkey.

Its main exploration properties are JUBILEE in Canada, NIAOULENI in Mali and MENDERES in Turkey.

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Financings of Frontline Gold Corp.
9/30/2013Announces Closing of Private Placement
5/30/2013Extends Private Placement
4/17/2013Extends Private Placement
2/22/2013Announces a $500,000 Non-Brokered Private Placement
6/8/2011Announces Closing of First Tranche of Private Placement
5/4/2011Announces Private Placement
Option Grants of Frontline Gold Corp.
3/19/2013Announces Stock Option Grant
10/25/2011Announces Stock Option Grant
Nominations of Frontline Gold Corp.
8/26/2011Announces Appointment of Tom Hussey as Board Member
Project news of Frontline Gold Corp.
5/6/2016Frontline announces acquisition of Rainy River Properties St...
4/2/2013(Menderes)Completes 100% Interest in Menderes Turkey Asset
1/30/2013(Menderes)Amends the Terms of Its Option Agreement Regarding the Mende...
5/22/2012Expands Poly Project in the Stewart Gold Camp, NW BC
4/19/2012highlights planned 2012 Exploration Programs at its Poly and...
2/22/2012(Menderes)Commences Diamond Drill Program on the Menderes Gold Project...
1/12/2012Provides an Update on the 2011 Exploration Programs at the P...
1/4/2012(Menderes)Announces Drill Contract for Menderes Gold Project, Located ...
10/25/2011Provides an Update on the 2011 Exploration Program on the Po...
10/13/2011(Niaouleni)intersects 1.76 g/t Au over 8.5 metres and extends the R1 go...
9/22/2011announces the commencement of the 2011 diamond drill program...
8/24/2011Announces Drill Contract for the Poly Project in the Stewart...
6/30/2011Reports the Initiation of the 2011 Exploration Programs on t...
6/29/2011(Menderes)Completes Soil Geochemistry Analysis and Commences IP Survey...
5/30/2011(Menderes)Advances Initial Exploration at Menderes Gold Project, Izmi...
5/5/2011Frontline Gold Stewart Camp Property Payments
4/27/2011Stewart Camp Property Payments
4/12/2011Stewart Camp Property Payments
4/1/2011(Menderes)Renames Turkish Gold Project
2/22/2011(Niaouleni)Confirms 4 Gold Structures at Niaouleni and Intersects 21.56...
Corporate news of Frontline Gold Corp.
6/22/2016Frontline announces an increase to the Loan funding to advan...
5/31/2016Frontline Announces Keban Tailings Assays, (including signif...
5/10/2016Frontline Announces Increase in Keban Tailings Tonnage and P...
4/20/2016Frontline secures funding to advance production at its Kambe...
4/7/2016Frontline Acquires Fully Permitted Keban and Kambertepe Tail...
7/22/2015Frontline Provides Update on its Menderes Gold Project, Plan...
12/18/2014Frontline Options Baird Property Along Pure Gold's Madsen Go...
12/18/2014Frontline Options Chukuni Property Along Goldcorp's Red Lake...
8/28/2014Frontline Gold - Results of Annual and Special General Meeti...
8/13/2014TSX Venture Exchange Daily Bulletins
5/28/2014IIROC Trading Resumption - FGC
5/21/2014IIROC Trading Halt - FGC
6/7/2013Announces Shares for Debt Agreement for US$200,000
6/7/2013Announces Shares for Debt Agreement for US$200,000
5/29/2013Defending Claim
5/28/2013-Results of Annual and Special General Meeting of Shareholde...
5/28/2013-Results of Annual and Special General Meeting of Shareholde...
3/27/2013Announces Shares for Debt Transaction
3/14/2013Initiates Strategic Review Process
3/13/2013Announces Significant Drill Ready Base-Precious Metal VMS Ta...
11/8/2012(Menderes)Announces Discussions Regarding Menderes Turkey Asset
10/2/2012Announces Completion of Phase 1, 2012 Follow-Up Program on t...
7/4/2012Results of the Annual and Special General Meeting of Shareh...
6/5/2012(Menderes)Submits Application for Operating License on the Menderes Pr...
8/23/2011Identifies 2 IP Anomalies from IP/Resistivity Survey
8/17/2011Divests Share Position held in Merrex Gold Inc.
8/17/2011Edison Investment Research report on Frontline Gold
7/13/2011-Results of the 2011 Annual and Special General Meeting of S...
6/23/2011Annual and Special Meeting of Shareholders
6/22/2011Announces Loan from President and CEO
6/15/2011Announces Initiation of Edison Investment Analyst Coverage
5/19/2011(Niaouleni)New Gold Discovery and Resumption of Diamond Drilling at Nia...
5/5/2011Engages Auburn Partners as Investor Relations Consultants
4/27/2011Stewart Property Payments
4/12/2011Frontline Gold Corp.
4/7/2011Adds Darryl Sittler as an Independent Director to Board
4/7/2011(Niaouleni)Makes a Gold Discovery, Completes RC Drilling Program and Re...
3/3/2011Announces $500,000 Exploration Program at Efemcukuru
2/23/2011Frontline Gold Corporation
2/23/2011-Stock Options
2/23/2011Stock Options
2/22/2011Frontline Gold Corporation
2/11/2011Frontline Gold Corporation
2/1/2011Frontline Gold Corporation
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