Frontline Stakes Strategic land position in vicinity of Treasury Metal's Goliath Gold Project
Toronto, Ontario -- (February 14, 2016)
-- Frontline Gold Corporation (TSX-V:FGC) ("Frontline" or the "Company") announces its has staked a 100% interest in several early stage exploration claims with the Kenora District of Ontario. The Dryden Area exploration properties (see attached Claim Map) consist of:
- five claims, totaling 464 hectares on 29 claim units located on or near the western property boundary to Treasury Metals' ("Treasury Metals") Goliath Gold Project;
- three claims, totaling 112 hectares on 7 claims units, which have been previously been identified to host the Northern Queen Occurrence and Gold Shaft and the Northern Queen Gold Mine. The distance been the location of the Northern Queen Occurrence and Shaft and the location of the Northern Queen Mine is approx. 400 metres; and
- seven claims, 576 hectares and 36 claim units that are located on or near the southern and eastern property boundaries of Treasury Metals' Goliath Gold Project property boundaries.
The staked areas total 72 claim units covering 1,152 hectares (2,846 acres).
Rationale for staking these claims:
- proximity to Treasury Metals' Goliath Gold Project - see link to investor presentation http://www.treasurymetals.com/i/pdf/ppt/presentation.pdf . 43-101 Resource Estimate 1,165,800 oz Au Eq Measured and Indicated and 341,300 oz Au Eq Inferred, 2.8 g/t. See slide 10. The Treasury Metals Goliath Gold Project is located in the Abitibi greenstone belt of Ontario and Quebec, which is one of the world's main sources of gold. Historically, the Abitibi greenstone belt produced over 170 million ounces of gold, and reserves and resources are still increasing; and
- As it relates to the two claims that have been identified to host the Northern Queen Occurrence and Gold Shaft and the Northern Queen Gold Mine the following has been observed:
- Northern Queen Gold Occurrence and Shaft - Grab samples, taken, October 1984, from the felsic dikes, altered mafic metavolcanics, sulphide-rich material, and quartz veins all assayed trace amounts of gold with minor Cu and Zn values. Highest recorded - 0.02, 0.04, 0.08, 0.22 oz. per ton Au. (Source: www.geologyontario.mndmf.gov.on.ca/gosportal/gos?command=mndmsearchdetails:mdi&uuid=MDI000000000750)
- The Northern Queen Gold Mine -- AMIS site -- Based on following Northern Queen Gold Mine references in the "REPORT OF THE BUREAU OF MINES VOLUME VII FIRST PART 1898":
- "The vein is traceable for several hundred yards, and it is said for miles. Shots have been put in at several points a seven by nine shaft has been sunk to a depth of 40 or 50 feet.;
- Assays of this ore body run from nothing to $20. On lot 1 there is a vein of white quartz which I saw at, one point only, but which was four feet wide. It extended up the face of a bluff about 20 feet high, and is said to be distinctly traceable at the top for some distance. A test pit has been sunk a few feet Upon it. Assays run from $7.10 at the surface to $8.50 at the bottom of the pit."
Frontline is planning to undertake a $20,000 exploration program at the Northern Queen Gold Mine and Northern Queen Gold Occurrence area works to get a better understanding the geology, map any vein outcrop and to take some assays to ultimately confirm the above noted findings. The program is scheduled for May 2017.
Frontline's President and CEO, Mr. Walter Henry, said, "The Zealand claims staked are an excellent low cost addition to the Company's current land position in internationally known gold mining districts.
The Zealand exploration land package which is situated within the near vicinity of Treasury Metal's Goliath Gold Property, provides the Company with a number of strategically located exploration mining claims totaling just under 3,000 acres.
The newly identified exploration potential of the claim group associated with the Northern Queen Gold Mine and Northern Queen Gold Occurrence and Shaft provides the Company with a basis for an exploration program in May 2017."
Frontline is a Canadian junior mineral exploration company. The Company's principal properties in Ontario, in internationally know gold mining districts, include the following:
- Red Lake Gold exploration properties, which include the Whitehorse Island Mining Patents, the Chukuni property which consists of seven contiguous claims, totaling 2,960 acres on 74 claim units, that is located long the south and western boundaries of Goldcorp Inc's Red Lake Gold Mine, and the exploration projects consisting of 16 claims, totaling 6,400 acres on 160 claim units adjoining Pure Gold's Madsen Mine to the east and the south (source: http://www.frontlinegold.com/s/NewsReleases.asp?ReportID=771979&_Type=News-Releases&_Title=Frontline-Increases-its-exploration-properties-in-the-Red-Lake-District-and...). The Company has one of the largest exploration land within the Red lake District totaling just 9,600 acres.
- Flint Lake and Sandhill Lake Gold Projects which are adjacent to First Mining Finance's advanced stage exploration Cameron Lake Gold Deposit in Ontario. Measured & Indicated Resource: 8.9 Mt at 2.29 g/t for 650,000 ounces of gold. Inferred Resource: 14.9 Mt at 1.91 g/t for 920,000 ounces of gold (source: www.firstminingfinance.com.)
- Confederation Lake Project, the Copperlode Property hosts a number of historical Cu-Zn bearing massive sulphide and stringer sulphide mineralized zones, hosted in strongly altered felsic volcanic pyroclastic rocks. The mineralization and associated alteration are typical of Archean Cu-Zn VMS deposits similar to the Mattab-type VMS deposits occurring in the Sturgeon Lake Mining Camp.
- Birch-Uchi Greenstone Belt exploration property, which is adjacent to Sabina Gold and Silver's Golden Sidewalk property, hosting the past-producing Bathurst Mine;
- Production Royalty and Net Smelter Royalty on a portion of First Mining Finance's Pickle Crow Gold Project which was acquired from PC Gold Inc. (see http://www.frontlinegold.com/s/NewsReleases.asp?ReportID=668206&_Type=News-Releases&_Title=PC-Gold-Enters-Into-Agreement-to-Acquire-Mining-Claims)
The technical information herein was reviewed by Mr. Greg Isenor, P. Geo., who acts as Frontline's Qualified Person as defined by National Instrument 43-101.
Further information about the Company is available on the Company's website, www.frontlinegold.com
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This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Walter Henry, President & CEO
FRONTLINE GOLD CORP.
Contact: Walter Henry
Telephone: (416) 414-5825
Frontline Gold Corp. (TSX-V: FGC)
1 Toronto Street, Suite 201
Toronto, Ontario M5C 2V6
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