(TheNewswire)
Toronto, Ontario – TheNewswire - September 19, 2022 – Frontline Gold Corporation (TSXV:FGC) (“Frontline” orthe “Company”) is pleased to announcet hat it has made thesecond anniversary option payment, $20,000, as required under theRoute 109 option agreement dated September 24, 2020 (refer to September 21, 2020 press release for further details). To date the Company has incurred approximately$150,000 in exploration expenditures on the Route 109 since October2020 .
Route 109 Project
Route 109 Property consists of 100 mining claims in theProvince of Quebec covering 5,588 hectares. It is contiguous to therecently announced 50-50 joint venture between Maple Gold's DouayProject and Agnico Eagle's Joutel Project that has been consolidatedinto a joint property package. The Property is located along the CasaBeradi belt which hosts the Douay Gold deposit and Eagle-Telbel Zn-Cudeposits (Maple Gold Mines/Agnico Eagle joint venture), the Vezza Golddeposit (Nottaway Resources) and the N2 Gold Project (WallbridgeMining).
The Route 109 Property has seen little historicaldrilling in a geological environment where significant intersectionshave been encountered in historical drilling. These include DH92-CA-A-05 which intersected 0.608 g/t Au over 10.8m, DH 92-CA-A-15which intersected 102.4 g/t Ag over 2.45m and DH 96-Ca-A-20 whichintersected 1.13 g/t Au over 45m which includes 10.95 g/t Au over 4m.The above drill intersections occur along the northern boundary. Theabove information provides an indication of the exploration potentialof the Route 109 Property and may not be representative of expectedresults.
The Company has not completed sufficient work to verifythe historic information on the properties comprising the Route 109Property, particularly regarding historical exploration, neighbouringcompanies, and government geological work.
To exercise its option and to acquire a 100% interestin the Quebec claims, Frontline must pay the Optionor a total of$123,000 (Frontline to datehas paid $28,000) . The Optionor a 1.5% netsmelter returns royalty. Frontline may repurchase zero point fivepercent (0.5%) of the royalty for $500,000.
About Frontline GoldCorporation
Frontline is a Canadian junior mineral explorationcompany. The Company's core properties include the Crooked Pine GoldProject (Ontario), Copperlode Project (Ontario), the Flint Lake andKakagi Lake Gold Project (Ontario), and the Route 109 Gold Project andthe NE Bachelor Lake Gold Project which are both in the Abitibi Regionof Quebec, and the Menderes gold project in the Izmir province ofWestern Turkey. Other Canadian exploration properties include othergold property groups in Ontario and include the Whitehorse IslandMining Patents.
Frontline continues to actively seek projects, andadditional investor/partner(s) in order to continue to build upon itsproperties and net smelter return royalties.
Further information about the Company is available onthe Company’s website, www.frontlinegold.com , or oursocial media sites listed below:
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This news release containsforward-looking statements, which address future events andconditions, which are subject to various risks and uncertainties. TheCompany’s actual results, programs and financial position coulddiffer materially from those anticipated in such forward-lookingstatements as a result of numerous factors, some of which may bebeyond the Company’s control. These factors include: theavailability of funds; the timing and content of work programs;results of exploration activities and development of mineralproperties, the interpretation of drilling results and othergeological data, the uncertainties of resource and reserveestimations, receipt and security of mineral property titles; projectcost overruns or unanticipated costs and expenses, fluctuations inmetal prices; currency fluctuations; and general market and industryconditions.
Forward-looking statements are based on the expectations and opinionsof the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, althoughconsidered reasonable at the time of preparation, may prove to beimprecise and, as such, undue reliance should not be placed onforward-looking statements.
“Walter Henry” Walter Henry, President & CEO FRONTLINE GOLD CORP. | Contact: Walter Henry Phone: (416) 861-9090 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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