Feb 16, 2017
Frontline's Summary and Update of its Ontario Exploration Portfolio and NSR's
Toronto, Ontario -- (February 16, 2017)
-- Frontline Gold Corporation (TSX-V:FGC) ("Frontline" or the "Company") wishes to provide a summary and update on its Ontario Exploration and NSR portfolio. The current Ontario Exploration Portfolio exploration properties in internationally known gold mining districts (see attached Ontario Property Map) consist of:
- Red Lake Gold exploration properties 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...). This land package combined with the Company's Chukuni and White Horse Island Projects, provides the Company with one of the largest exploration land packages within the Red lake District totaling just 9,600 acres.
- The Chukuni property which consists of seven contiguous claims, totaling 2,960 acres on 74 claim units. The Chukuni property is attractive given i) the proximity to Goldcorp's Red Lake Gold Mine, and the proximity to Goldcorp's #3 Mine shaft, located approximately 3.5 kms north of the Chukuni property boundary; ii) the strategic location of the group in the Red Lake Gold District and the property being directly contiguous to Goldcorp's Red Lake Property both on northern and eastern property boundaries of the Chukuni property and iii) that the known gold occurrences have not been revisited in any detail located within the property claim group.
Frontline is planning to undertake an exploration program at the property area to get a better understanding of the geology and to follow-up on the known gold occurrences. The program is scheduled for early summer of 2017.
- Whitehorse Island property comprised of two contiguous claims, totalling 35.55 hectares hosts the Whitehorse Island gold shaft and are situated between the Goldcorp / Premier Gold Rahill-Bonanza Gold Property and Premier Gold's Hasaga Gold Property (see http://www.frontlinegold.com/s/NewsReleases.asp?ReportID=718609&_Type=News-Releases&_Title=Frontline-Acquires-Red-Lake-Mining-Patents-Between-Goldcorp-and-Premier-Gol...).
The Whitehorse Property has seen considerable past exploration. The Property has been explored and drilled quite extensively around the historic Orlac deposit, discovered by Orlac Red Lake Mines Ltd in 1946-47, with excellent gold assays including Hole #NBZ-88-10 drilled by Pure Gold Resources in 1988, which graded 4.53 g/T over 26m with a 5.5m interval grading 13.65 g/T, 3.3m grading 22.22 g/T and 2m grading 34.94 g/T.
- Cameron Lake Property Group consists of a 100% interest in seven (7) gold properties in the Rainy River area of Ontario ("Rainy River Properties") which are strategically located adjacent to First Mining Finance's Cameron Gold Project ("Cameron Gold Project") in the Rainy River area. Frontline's properties comprise 7 individual property groups covered by 21 mining claims (see news release http://www.frontlinegold.com/s/NewsReleases.asp?ReportID=748217&_Type=News-Releases&_Title=Frontline-announces-acquisition-of-Rainy-River-Properties-Strategically-loc).
The Cameron Gold Project is located in the mineralized Kakagi Lake Greenstone Belt of the Archean-aged Superior Province located in the Kenora township in southwestern Ontario. In December, 2015, Chalice filed a Technical Report (the "Report") entitled "Technical Report on the Cameron Gold Deposit, Ontario, Canada". The Report included a resource estimate for the Cameron Gold project which, at a cut-off grade of 0.50 g/t gold, is estimated to have Measured and Indicated Resources of 7,824,000 tonnes grading 2.26 g/t gold (569,000 Au ounces) and Inferred Resources of 14,464,000 tonnes grading 1.92 g/t gold (894,000 Au ounces) (source: First Mining Finance website at www.firstminingfinance.com).
The two key properties of focus within this property group are the following:
Frontline is planning to undertake a $20,000 exploration program at this project area to get a better understanding the geology, map any vein outcrop and to undertake a rock chip and soil program to follow up on the results announced by Chalice Gold on December 7, 2015. This program is scheduled for May 2017.
- Flint Lake -- The Project claims are located along the Pipestone Cameron Fault with the group adjacent to Chalice Gold's Cameron Gold property that hosts its Dogpaw and Dubenski deposits. Frontline's specific rationale in acquiring this land package has to do with its mandate to strategical add undervalued gold exploration properties where the cost to maintain the properties is minimal. As noted in the table below, this claim package has a combined C$417,631 in banked assessment credits; after the current maturity dates of land claims 2019/2020, the combined $11,200 in annual required work on the group would be covered for the next 30 plus years by the banked assessment credits.
- Sandhill Lake Gold Project - 3 claims, (400 hectares) located in the Brooks Lake Area and adjacent to Cameron Gold Project where Chalice did its 2015 Cameron Rock Chip and Soil Programs (source:http://www.chalicegold.com/images/content/Corp_Presentation_Feb_2016.pdf). As noted in the referenced press release, a new mineralised zone was defined along a major northwest-trending mafic-intermediate volcanic contact along the Pipestone fault with no historical mineralisation having been documented from this area. Highlights of results of rock chip sampling at Pipestone prospect were 3 samples assaying: 2.19 g/t Au, 1.62 g/t Au and 1.37 g/t Au.
- Zealand Properties consist of a total of 72 claim units covering 1,152 hectares. All of the claims are located on or near the project boundaries to Treasury Metals' ("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.
Key claims of focus within these properties are:
Frontline is planning to undertake a $20,000 exploration program at the Northern Queen Gold Mine and Northern Queen Gold Occurrence area to get a better understanding of 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.
- five claims, totaling 464 hectares on 29 claim units located on or near the western property boundary to Treasury Metals' Goliath Gold Project; and
- three claims, totaling 112 hectares on 7 claims units which have 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.
- Northern Queen Gold Occurrence and Shaft - Grab samples taken in 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.;
- Confederation Lake Project the 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.
Frontline is in advanced discussions with two groups looking to joint venture this Project.
- Birch-Uchi Greenstone Belt exploration property, which is adjacent to Sabina Gold and Silver's Golden Sidewalk property, hosts 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)
Frontline's President and CEO, Mr. Walter Henry, said, "The Ontario Portfolio of exploration properties that the Company has currently accumulated provides the Company with numerous early stage exploration projects to advance, all strategically located within internationally known gold mining districts."
Frontline continues to actively seek additional investor/partner(s) 1) to jointly fund exploration an development on all its Ontario Properties. To contact Frontline, please call Walter Henry at 416-414-5825 or visit the Company's website.
Frontline did not complete the work required to verify the historical mining estimates noted above and is not treating these historical estimates as being compliant with current standards under NI 43-101 and as such these historical estimates should not be relied upon. Caution should be used when evaluating these resources as they were calculated prior to NI 43-101 existing and a qualified person has not done work to classify the historical estimate as a current mineral resource.
About Frontline Gold Corporation
Frontline is a Canadian junior mineral exploration company. In addition to the Ontario Exploration portfolio discussed above, the Company's international principal properties include the following:
- Keban Tailings Project - Located approximately 45 km northwest from the city of Elazig, via paved highway, which is fully permitted and includes the exclusive rights to process a minimum 114,000 tonnes of mineralized milled tailings stored in two areas within the defined tailings boundaries.
- Kambertepe Tailings Project - Includes the exclusive rights to process approximately up to 6,000 tonnes of mineralized tailings, with the following average reported grades per tonne of tailings: 2.1% Copper, 21 g/t Silver, 1.9% Zinc, 0.5% Titanium and over 50% Iron, based on assays completed by Bureau Veritas, Vancouver, Canada, as noted from a Firat University report on the project dated March 15th, 2016.
- Menderes Gold Project, a 6,194 ha (62 km²) contiguous land package located near the village of Efemçukuru, in Izmir Province, Western Turkey. The permits that make up the Menderes Gold Project were acquired for their excellent potential to host low to medium sulphidation, gold-mineralized epithermal vein systems. The Menderes Gold Project is contiguous to the eastern and southern property boundaries of Eldorado Gold's Efençukuru Mine (source www.eldoradogold.com).
- Niaouleni Gold Project, in southern Mali in the heart of West Africa's prolific gold belt. Active gold exploration projects in the immediate vicinity of Niaouleni include African Gold Group Inc.'s Kobada Gold Project (www.africangoldgroup.com). Within the general geographic area surrounding Niaouleni, there are approx. 12 operating mines, which make the economics of establishing mining operations very viable. Niaouleni sits between the 6.4Moz Lero mine (source:www.nordgold.com) & the 5.9Moz Morila mine (source:www.randgoldresources.com).
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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