Frontline Gold announces second acquisition of strategically located gold property in Quebec

Frontline Gold Corporation 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.

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.

Tags: Quebec / Deals & Financial / Gold / All Articles