Frontline Increases Land Position at Executed LOI To Option its Copperlode Property
Toronto, Ontario -- (May 9, 2017)
-- Frontline Gold Corporation (TSX-V:FGC) ("Frontline" or the "Company") announces that it has increased its land positon at its 100% owned Zealand Property consisting several early stage exploration claims within the Kenora District of Ontario that was highlighted in its February 16, 2017 press release ("Frontline Stakes Strategic land position in vicinity of Treasury Metal's Goliath Gold Project
The Zealand exploration property, located in the Dryden Area (see attached revised Claim Map) consists of:
Summary of Zealand Property
- seven claims, totaling 528 hectares on 33 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 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
- eight claims, 640 hectares and 40 claim units that are located on or near the southern and eastern property boundaries of Treasury Metals' Goliath Gold Project property boundaries.
The area now totals 80 claim units covering 1,280 hectares, an increase of 8 claims covering 128 hectares.
Rationale for the Zealand Property Group:
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 25. 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.
Frontline will 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 to be completed by the end of June 2017.
Frontline is a Canadian junior mineral exploration company. The Company's principal Ontario properties include the following:
- 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. 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 in proximity to Goldcorp's Red Lake Gold Mine, and the proximity to Goldcorp's #3 Mine shaft.
- 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.
- 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.
- 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.
- Confederation Lake Project the Property hroperty hosts a number of historical Cu-Zn bearing massive sulphide and stringer sulphide mineralized zones, hosted in strongly altered felsic volcanic pyroclastic rocks.
- 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.
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).
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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