Frontline Gold Corp. Completes Cash Option payment for its Route 109, Quebec
Toronto, Sept. 19, 2022 - Frontline Gold Corp. (TSXV:FGC) ("Frontline" or the "Company") is pleased to announce that it has made the second anniversary option payment, $20,000, as required under the Route 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 October 2020. Route 109 Project
Route 109 Property consists of 100 mining claims in the Province of Quebec covering 5,588 hectares. It is contiguous to the recently announced 50-50 joint venture between Maple Gold's Douay Project and Agnico Eagle's Joutel Project that has been consolidated into a joint property package. The Property is located along the Casa Beradi belt which hosts the Douay Gold deposit and Eagle-Telbel Zn-Cu deposits (Maple Gold Mines/Agnico Eagle joint venture), the Vezza Gold deposit (Nottaway Resources) and the N2 Gold Project (Wallbridge Mining).
The Route 109 Property has seen little historical drilling in a geological environment where significant intersections have been encountered in historical drilling. These include DH 92-CA-A-05 which intersected 0.608 g/t Au over 10.8m, DH 92-CA-A-15 which intersected 102.4 g/t Ag over 2.45m and DH 96-Ca-A-20 which intersected 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. The above information provides an indication of the exploration potential of the Route 109 Property and may not be representative of expected results.
The Company 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.
To exercise its option and to acquire a 100% interest in the Quebec claims, Frontline must pay the Optionor a total of $123,000 (Frontline to date has paid $28,000). The Optionor a 1.5% net smelter returns royalty. Frontline may repurchase zero point five percent (0.5%) of the royalty for $500,000.
About Frontline Gold Corporation
Frontline is a Canadian junior mineral exploration company. The Company's core properties include the Crooked Pine Gold Project (Ontario), Copperlode Project (Ontario), the Flint Lake and Kakagi Lake Gold Project (Ontario), and the Route 109 Gold Project and the NE Bachelor Lake Gold Project which are both in the Abitibi Region of Quebec, 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.
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/frontline-gold-corp-fgc-
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" Walter Henry, President & CEO | 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 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
