(TheNewswire)
Toronto, Ontario - TheNewswire - September 21, 2020 - Frontline Gold Corporation (TSXV:FGC) ("Frontline" or the "Company") is pleased to announce that it has acquired a 100% interest in the Route 109 Property which consists of 100 mining claims in the Province of Quebec covering 5,588 hectares.
Aptly named, the Route 109 Property straddles Highway 109 which leads to the mining camp of Matagami providing excellent access and infrastructure. The Property lies in the same volcanic-sedimentary rock package as the Casa Beradi Deposit 75km to the west. The same belt also hosts the Douay Gold Project owned by Maple Gold Mines, The Vezza Gold Project currently operated by Nottaway Resources and the N2 Gold Project under Wallbridge Mining. These three gold projects lie in close proximity to the property. Numerous gold occurrences and drill hole intersections are located just north of the property boundary along linear east-west magnetic signatures. The Route 109 property has the same magnetic signatures, similar rocks, yet has received little drilling. The above information provides an indication of the exploration potential of the Route 109 Property and may not be representative of expected results.
The Route 109 Property is situated within the Abitibi Subprovince which is prolifically known for its metal endowment. It has been estimated the Abitibi Subprovince has produced over 200 million ounces of gold and 400,000,000 million tonnes of base metal ore.
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Figure 1. Regional location of the Route 109 Property.
To exercise its option and to acquire a 100% interest in the Quebec claims, Frontline must pay the Optionor a total of $123,000 (of which a total of $95,000 is due in years 2-4 of the option agreement), with $14,000 due on signing and $14,000 due on the first anniversary, and grant the Optionor a 1.5% net smelter returns royalty. Frontline may repurchase zero point five percent (0.5%) of the royalty for $500,000.
Commentary
Frontline's President and CEO, Mr. Walter Henry, said, "The low acquisition cost of a very large land package combined with the fact that there is no minimal property expenditure requirements on the property affords us the flexibility to evaluate the gold mineralization exploration potential of the Douay-Vezza Gold belt and whether to grow further our position in this area of Quebec."
Route 109 Project Highlights
The Route 109 Property lies within a sequence of mafic volcanic and metasediment rocks. Iron formation and Timaskaming-type conglomerates have also been noted which are key to mineralization in the belt. Gold mineralization in the Douay-Vezza Gold belt are strongly associated with magnetic trends and signatures
The Route 109 Property has seen little historical drilling in a similar geological environment where significant intersections were encountered along the northern boundary. Numerous gold +/- silver occurrences and drill intersections are very proximally located to the Route 109 Property.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Route 109 Property, particularly regarding historical exploration, neighbouring companies, and government geological work.
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Figure 2 . Local mineral occurrences of the Route 109 Property.
The Company has initiated discussions with a service provider to complete a high resolution heli-borne magnetic survey to cover the entire Property. The program will comprise of 50- metre flight line spacings for a total of 1,859 line kilometres (km) to achieve high quality definition of geological units and associated structural features. The airborne magnetic survey is scheduled to be completed in October. Combining a high-resolution magnetic survey and an October field program (ie. ground mapping and sampling), Frontline will be in an advanced position to identify those targets that warrant diamond drilling in 2021.
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
About Frontline Gold Corporation
Frontline is a Canadian junior mineral exploration company. The Company's properties include the optioned gold projects in Red Lake area of Ontario, Cameron Lake Gold Project (Ontario), Abbie Lake (Ontario), the Portage River Gold Project in the Abitibi Region of Quebec, the Confederation Lake Project which is approx. 60 kms east of the Red Area and the Menderes gold project in the Izmir province of Western Turkey. Other Canadian exploration properties include other gold property groups in Ontario and include the Whitehorse Island Mining Patents. In addition, Frontline has a large NSR package on four separate gold property groups in Red Lake, which are currently under option to the Pacton Gold.
Frontline continues to actively seek projects, and additional investor/partner(s) in order to continue to build upon its properties and net smelter return royalties.
Further information about the Company is available on the Company's website, www.frontlinegold.com , or our social media sites listed below:
Facebook: https://www.facebook.com/Frontline Gold Corp./
Twitter: https://twitter.com/frontlinegold
Linkedin: https://www.linkedin.com/company/6925052/admin/
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” | |Contact: Walter Henry | | | |Mobile: (416) 414-5825 | |Walter Henry, President&CEO| |Phone: (416) 861-9090 | |FRONTLINE GOLD CORP. | |Email: info@frontlinegold.com| | | |Website: www.frontlinegold.com | | | |Frontline Gold Corp. (TSX-V: FGC) | | | |372 Bay Street, Suite 301 | | | |Toronto, Ontario M5H 2W9 | | | | | -------------------------------------------------------------------------
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