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Frontline Options Chukuni Property along Goldcorp's Red Lake Gold Mine and Property Boundary

24.06.2015  |  Newsfile

Toronto, Ontario--(Newsfile Corp. - June 24, 2015) - Frontline Gold Corp. (TSXV: FGC) ("Frontline" or the "Corporation") is pleased to announce that it has, subject to regulatory approval, negotiated an option to purchase up to a 100% interest in the Chukuni property ("Chukuni") , subject to a .5% net smelter returns royalty. The property is comprised of six contiguous claims, totaling 2,720 acres on 68 claim units, that is located long the south and western boundaries of Goldcorp Inc.'s ("Goldcorp") Red Lake Gold Mine in the Red Lake Gold District, Ontario. The Chukuni property is approximately 3.5 kms directly south of Goldcorp's #3 Shaft (see attached map).

Frontline's Purchase Option

To exercise its option and acquire up to a 100% interest in the claims, Frontline must issue a total of 150,000 shares of the Corporation over two years and pay the optionor a total of $72,000 (of which $7,000 due on signing, $10,000 due on first anniversary date of signing, $15,000 due on second anniversary, $20,000 due on third anniversary and $20,000 due on fourth anniversary). If Frontline acquires the claims and begins commercial production on any part of the claims, it will pay a .5% net smelter returns royalty. Frontline may repurchase one-half of the royalty for $500,000.

Goldcorp's Red Lake Gold Mine

Is amongst the world's richest gold mine. Located in one of the world's most prolific gold districts, Red Lake is Goldcorp's top producer, yielding 414,400 ounces in 2013. Recent investments in infrastructure and development have positioned this renowned mine for many more years of long-term sustainable production. At December 31, 2014, total proven and probable gold reserves total 2,060,000 contained ounces.

Goldcorp is one of the fastest-growing, lowest-cost senior gold producers, with operations and development projects in politically stable jurisdictions throughout the Americas.

Commentary

Frontline's President and CEO, Mr. Walter Henry, said, "The claims are an excellent addition given the proximity to a known historical gold mining area located in the Red Lake Gold District and to Goldcorp's Red Lake mine and its #3 Mine Shaft. The low acquisition cost of the land package combined with no property expenditure requirements allows us to continue to grow our portfolio of strategic land packages in the Red Lake Gold District. The Chukuni property is very interesting given 1) the proximity to Goldcorp's Red Lake Gold Mine, and the proximity to Goldcorp's #3 Mine shaft, located approximately 3.5 kms north of the Chukuni property boundary; 2) the strategic location of the group in the Red Lake Gold District and being directly contiguous to Goldcorp's Red Lake Property both on northern and eastern property boundaries of the Chukuni property boundaries and 4) given that the known gold occurrences have not been revisited in any detail located within the Chukuni property boundary, (see attached map)."

Historical Exploration on the Chukuni Property

The property lies immediately south of and adjoins the Goldcorp Red Lake Mine property. Previous exploration in the Red Lake area disclosed high grade gold mineralization and, in 1995, a rich gold deposit that was not supposed to exist, was discovered in the area now being mined by Goldcorp. Although a small target relative to the whole area, this high grade zone indicates there is plenty of space available for a similar-sized gold deposit to exist elsewhere.

The mineralization is generally associated with intermediate intrusions and occurs within sheared or faulted, silicified and/or sulphide-mineralized zones near the margins of the intrusions. The sheared/fault zones have been shown in the past to occur both parallel and non-parallel to the contacts of the intermediate intrusions.

In February 2004, the Solitaire Minerals Corporation ("Solitaire") commenced a work program on this property entailing an airborne geophysical survey and a ground-based gravity survey. This work defined a wnw-trending gravity anomaly paralleling the regional gravity anomaly demarking the major deformative/alteration zone hosting the Goldcorp Red Lake Mine and the Placer Dome Campbell Mine. The interpreted deformation zone consists of high-density mafic-intrusives, and mafic volcanics, bounded by grandodiorites to the north, and grandiorites and mafic volcanics to the south. Several anomalies were identified and several significant diamond drill targets areas were proposed.

In July 2006, Solitaire completed a work program explorative in nature, and designed to better identify lithologies, contacts, structural features, and to test possible mineralized zones which were identified within the geophysical interpretation. Target zones were chosen from various airborne magnetic anomalies (highs, lows), Fraser filtered VLF-EM data, as well as from previous mapping, trenching, and drilling results. A total of 11 holes, totaling 2,117 m of NQ core were drilled.

Diamond drilling identified a medium to coarse grained pyroxenite body, intermixed with fine grained, weakly foliated (45%) basalt and medium to coarse grained melanodiorite with weak sulphide mineralization. At depth, the basalt unit grades into a more medium grained groundmass, with very strong silicification, and a weakly mineralized (3-5% po, py, aspy, mag) background veining zone. Late lampophyre dykes crosscut these lithologies. Several weakly mineralized, iron carbonate altered quartz- tourmaline veins were noted within the basalts. Localized breccia zones, associated with increasing silicification, biotite alteration, and sulphide replacement zones, were noted in holes CH-06-08,-09, and -10. A shear zone identified in CH-06-08 appears to be one of the main structural conduits controlling this sulphide replacement. Significant assay values returned were from Sample 135282 (CH-06-09) yielded 1.597 gpt Au over 0.5 m (45.5 -46 m depth). The project was under the direction of Garry Clark, PGeo, in accordance with the regulations of National Instrument 43-101.

On July 23, 2009 and September 29, 2009, Solitaire and Ashburton Ventures Inc. ("Ashburton"), its joint venture partner, had commenced a summer work program on the Chukuni Property. Contractors were on the property completing 17 km of ground grid. GEOSIG Inc. commenced an Induced Polarization (IP) survey over the newly established grid. Upon completion of the Induced Polarization Survey, compilation of the data identified five potential drill targets based on coincidental chargeability/resistivity anomalies. The potential targets include chargeability/resistivity zones in the interpreted fold nose of the Howey Diorite, the Diorite/Mafic Volcanic contact plus sulphide bearing zones within the Mafic Volcanic unit to the north of the Howey intrusive.

On April 28, 2010, Solitaire and Ashburton announced that the assay results had been received from the 1,006 m diamond drill program completed in March, 2010. The drill program was a technical success in explaining the source of the IP anomalies as above average sulphide concentrations but did not encounter significant gold values. Drill hole CH10-04 did encounter anomalous Pyrite-Chalcopyrite mineralization in the form of stringers and disseminations in a weak discontinuous alteration envelope of chlorite and staurolite over a core length of 95 m. (Source: Solitaire Minerals Corp. Management Discussion and Analysis 3 months ended August 31, 2010)

Further recommended work on the Chukuni property should involve a close examination of the recent Red Lake Camp developments and also expanding the area of historical focus away from the old showings, while noting that the previous work has at least tapped into a gold-mineralized system. (Source: Report on the 2006 Diamond Drill Program, Chukuni Property, Solitaire Minerals Corporation, January 2007, J. Garry Clarke, P.Geo.)

The technical information herein was reviewed by Mr. Greg Isenor, P. Geo., who acts as Frontline's Qualified Person as defined by National Instrument 43-101.

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 principal properties include the Menderes gold project in the Izmir province of Western Turkey, the Poly and Stewart (gold-copper polymetallic) projects in the Stewart region of British Columbia and the Niaouleni gold project in southern Mali in the heart of West Africa's prolific gold belt. Other Canadian exploration properties include its Red Lake (gold) property groups.

For further information, please visit the Company's website at www.frontlinegold.com to view the most recent corporate presentation.

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.

Contact: Walter Henry
Telephone: (416) 362-9100
"Walter Henry" Fax: (416) 362-9300
Walter Henry, President & CEO Email: info@frontlinegold.com
Frontline Gold Corp. Website: www.frontlinegold.com
Frontline Gold Corp. (TSXV: FGC)
1 Toronto Street, Suite 201
Toronto, Ontario M5C 2V6

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

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.


To view an enhanced image of the Frontline Gold Corp. - Red Lake Area Property, please visit:
https://orders.newsfilecorp.com/files/2192/16022_frontline1enhanced.jpg


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