Frontline Gold samples 1.29 g/t Au in Keban tailings05/31/16https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aFGC-2379559&symbol=FGC®ion=C
New samples show gold in samples and Frontline Gold will be purchasing more Keban Tailing properties. Good news.
Mr. Walter Henry reports
FRONTLINE ANNOUNCES KEBAN TAILINGS ASSAYS, (INCLUDING SIGNIFICANT ZINC GRADES) AND ADVANCED DISCUSSIONS TO ACQUIRE NEW TAILINGS AREAS
Frontline Gold Corp. has released the results of its assay sampling at depth at its Keban tailings project as highlighted in its May 10, 2016, press release.
In addition, the company has provided the following updates:
- The previously announced tailings tonnage at Kambertepe, which were thought to be approximately 6,000 tonnes, has now been estimated to be in the range of 15,000 to 20,000 tonnes of tailings based on a larger surface area and an increase in the depth of the tailings. The following average reported grades per tonnes of tailings: 2.1 per cent gold, 21 grams per tonne silver , 1.9 per cent zinc, 0.5 per cent titanium and 50 per cent iron, as noted from the Firat University report on the Kambertepe project dated March 15, 2016;
- The company is in advanced discussions regarding the acquisition of two to three new tailings areas all within the Elazig region of Turkey. The timing on the completion of these new tailings is expected to be within the next 45 days;
- The excavating and transportation of the Kambertepe tailings to the processing facility continues.
Keban tailings assays
The following is a summary of the assayed results for gold, silver, lead and zinc. Note that out of the 14 assayed samples, seven assays show zinc percentage per tonne over 5 per cent per tonne, including three assays with zinc levels over 10 per cent per tonne, with the highest zinc value being 14.1 per cent per tonne. In addition to the gold assays, there were significant silver and lead assays noted.
Assay ID Au g/t Ag g/t Pb %/t Zn %/t Area KA SK-1-B 1.42 69.6 1.75 2.36 SK-2-B 1.10 43.5 0.86 5.15 SK-3-B 1.52 88.2 2.19 3.75 SK-4-B 1.56 65.6 1.58 4.88 SK-5-B 0.10 8.9 1.67 0.55 Area average 1.14 55.2 1.61 3.34 Area KY SK-1 2.59 90.8 1.97 3.47 SK-2 1.86 60.5 1.29 3.59 SK-3 1.35 147 3.18 14.1 SK-4 0.88 57.6 1.48 7.04 SK-5 1.03 55.3 1.16 5.3 SK-6 0.07 9.5 0.21 9.53 SK-7 1.28 52.1 1.20 4.79 SK-8 0.99 111 3.05 11.55 SK-9 2.27 209 5.41 12.85 Area average 1.37 88.1 2.11 8.02 Total average 1.29 76.4 1.93 6.35 Note: not included in the table is the combined copper assay grade of 0.13 per cent per tonne
Based on the reported ALS assays in the table, the 14 assays averaged 1.29 g/t Au, 76.4 g/t Ag, 1.93 per cent per tonne Pb and 6.35 per cent per tonne Zn.
Keban assay sampling at depth
Frontline completed the taking of 14 assay samples, with average depth of each sample taken being four feet, spread over the Keban tailings project. The rationale for the sampling program at depth was to verify the company's position that given the age of the tailings at depth and the potential seepage of the tailings at surface due to rain water and snow, that the tailings grade will be higher at depth.
In summary, the assay samples at depth, combined with over 50 surface assays previously reported by the company, the combined assays have averaged 1.74 g/t Au, 91 g/t Ag, 2.6 per cent per tonne Pb and 1.86 per cent per tonne Zn. The combined tailings grade from surface to a four-foot depth compares very favourably with the independent comprehensive report, completed by Dr. Sasmaz, Phd, geologist, Firat University, dated June, 2015, where 40 assay samples were collected at Keban and assays completed by Bureau Vertias Mineral Laboratories in Vancouver, Canada, on behalf of the Firat University in Elazig. According to the Bureau Vertias analysis, the Firat University report of June, 2015, noted that all the assays averaged 1.78 g/t Au, 96 g/t Ag, 2.94 per cent per tonne Pb and 0.63 per cent per tonne Zn.
Commentary
Walter Henry, president and chief executive officer of Frontline, commented: "I am pleased with the assay results of the sampling program at Keban which was primary designed to test the tailings grade at the four-foot depth. The emergence of the high zinc values at depth has significantly added to the in situ commodity value of the Keban tailings. Based on the above assay results, combined with the previously reported surface assays, the overall tailings grade has been improved at depth.
"The company is in advanced negotiations to add two to three new tailings projects all within the Elazig region to its portfolio of tailings. The company's current tailings projects, combined with the potential to add two to three new tailings areas, is rapidly transforming the company into a tailings processor with the ability to generate positive cash flow for years to come. Lastly, I am happy with the continued level of progress we have made at advancing the Kambertepe tailings project during April and May of 2016."
Keban tailings project
Located approximately 45 kilometres northwest from the city of Elazig, via paved highway, which is fully permitted, which includes the exclusive rights to process a minimum 114,000 tonnes of mineralized milled tailings stored in two areas within the defined tailings boundaries. Current tailings tonnage is now estimated to be approximately 150,000 tonnes.
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 per cent copper, 21 grams per tonne silver, 1.9 per cent zinc, 0.5 per cent titanium and over 50 per cent iron, as noted from a Firat University report on the project dated March 15, 2016. As discussed, current tailings tonnage is now estimated to be in the range of 15,000 to 20,000 tonnes.
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.
Frontline continues to actively seek additional investor/partner(s) to continue to expedite the full tailings and contained metal recovery at both the Keban and Kambertepe tailings projects, to jointly finance the new tailings projects that the company has been in discussions to acquire, and to finance development on all its properties in the Red Lake and Rivery River areas.
The technical information herein was reviewed by Greg Isenor, PGeo, who acts as Frontline's qualified person as defined by National Instrument 43-101.
We seek Safe Harbor.