Frontline Gold Announces Completion of Phase 1, 2012 Follow-Up Program on the Poly Property, Stewart Gold Camp, NW BC
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TORONTO, ONTARIO--(Marketwire - Oct. 2, 2012) -
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Frontline Gold Corporation (TSX VENTURE:FGC) ("Frontline" or the "Company") is pleased to announce the completion of the Phase 1, 2012 follow-up surveys on the Poly Property (Figure 1), which straddles the Stewart Hwy 37A, about 34 km northeast of Stewart, BC.
The Cottonwood (CWG), Northwest Gold (NWG) and Swimming Pool (SPG) Grids were expanded and additional Mobile Metal Ion (MMI) soil sampling carried out to follow up positive 2011 geological/geochemical results. The CWG hosts the strongest Au/Cu MMI anomaly on the Poly Property; the NWG, the strongest Au MMI anomaly; and, the SPG, an apparent Red Mountain deposit type (gold mineralization closely associated with an intrusion; Figure 2). Three drill holes were also spotted in preparation for a 2013 test of other 2011 MMI/Soil Gas Hydrocarbon (SGH) soil anomalies and favourable geology on the Lower Poly Grid.
The main exploration target is Eskay Creek type precious metal volcanogenic massive sulphide (VMS) mineralization. The 2011 drill pad on the Classic Grid remains in place for follow-up drilling after a VMS feeder zone with a Au-Cu signature was intersected in drill hole P11-02 that tested a 2010 VTEM anomaly recommended by Geotech Ltd.
The favourable VMS horizon, the X-LNX Zone, is postulated to extend from the X Zone on the north side of the Poly Tenures over a strike length of about 7 km to Nelson Creek on the south side of the Lord Nelson Tenures (LNT; Figure 1). The interpretation of the extent of the VMS target and favourable geological environment was further substantiated in 2012 with the discovery of rhyolite stratigraphy, a key ingredient for the discovery of VMS, in proximity to the LNX Zone on the Ridge Grid. An untested Aerotem airborne EM anomaly with a strike length of over 2 km is associated with the LNX Zone on the LNT.
Well mineralized boulders with Cu staining were found near the LNX Zone and the structural contact of pyroclastic and felsic rocks and overlying sediments. Assay results from the approximately 300 rock, MMI soil, talus rock and soil and stream sediment samples are expected to be available in November.
Frontline's CEO, Walter Henry, comments, "We are very pleased it appears that the favourable VMS horizon, located at the Poly Project, now appears to have a 7 km strike length that extends onto the LNT. There, the horizon is signatured by an untested airborne EM anomaly and is associated with recently discovered mineralized boulders and favourable felsic stratigraphy (rhyolite) that is often associated with VMS deposits. The significance of the Company's 2012 program should become apparent when the samples are analyzed later this year."
Frontline plans to continue the LNT Option via the reduced 2012 program expenditure as agreed to by Teuton and by making the $35,000, 2012 option payment. Geofund, the principal owners of the Poly Tenures, has provided interim funding in the amount of approximately $200,000 for the Frontline BC projects in 2012, the aggregate amount of the funding to be repaid on or before November 30, 2012.
The 2012 Poly program was carried out by Geofine Exploration Consultants Ltd. The work was supervised by David Molloy, P. Geo., who has reviewed this release and is the Qualified Person in compliance with National Instrument 43-101. Geofine has recommended a Phase 2, 2012 fall follow-up program to continue to delineate the priority targets and establish set-ups for a 2013 drill program.
About Frontline's Poly/Stewart Projects
Frontline holds an option to earn and acquire up to a 100% in both the Poly and Stewart Projects. The Poly and Stewart Projects are based in the Stewart Gold Camp in northwestern British Columbia. This is an evolving gold camp that hosted one of the world's richest Kuroko-type VMS precious metal deposits, Eskay Creek, as well as one of the world's largest undeveloped Cu-Au porphyry deposit, KSM/Snowfield, with over 90Moz of Au, 444Moz of Ag and 20B lbs Cu in resources. The Poly Project is contiguous with Mountain Boy Minerals and Great Bear Resources mineral tenures that host the BA Ag-Pb-Zn VMS deposit as well as with Teuton/Sabina's tenures that host the Del Norte VMS trend.
Frontline's gold-copper porphyry project, the Stewart Property, straddles Highway 37 approximately 10 kilometres south of Bell 2 and its western tenures are contiguous with the KSM (Seabridge Resources) and Snowfield/Brucejack (now Pretium Resources) properties.
About Frontline Gold Corporation
Frontline is a Canadian junior mineral exploration company with an experienced discovery team and a proven record of accomplishment. The Company's flagship properties include the Menderes gold project in the Izmir province of Western Turkey and the Niaouleni gold project in southern Mali in the heart of West Africa's prolific gold belt. Ongoing Canadian exploration includes the Poly (gold VMS) and the Stewart (gold-copper porphyry) projects.
For further information, please visit the Company's website at www.frontlinegold.com to view the most recent corporate presentation.
The Qualified Person under National Instrument 43-101-Standards of Disclosure for Mineral Projects ("NI 43-101") for this News Release is David Molloy, P. Geo., consultant to the Company, who has reviewed and is responsible for the technical information presented in this news release.
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.
