Frontline Gold Corporation
TSX VENTURE : FGC

Frontline Gold Corporation

August 31, 2010 14:41 ET

Frontline-Stewart Exploration Update; Stock Options Withdrawn

HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 31, 2010) - Walter Henry, President and CEO of Frontline Gold Corporation. ("Frontline")(TSX VENTURE:FGC) announces:

Exploration Underway on Stewart and Poly Claims

Exploration has begun on the Company's recently optioned Stewart and Poly Gold Projects in the Stewart Mining Camp in Northwestern British Columbia. The 3,281 hectares Poly Gold Project and approximately 28,000 hectares Stewart Gold Project both host significant potential for gold-copper porphyries and precious metals rich VMS deposits.

The airborne surveys will total approximately 1,958 line kilometres (305 line kilometres on the Poly Claims and 1,653 line kilometres on Stewart Claims) of VTEM Time Domain EM and magnetic surveys. The VTEM airborne surveys are being conducted by Geotech Ltd. and are designed to follow up on outcropping precious and base-metal mineralized systems, including precious metal rich massive sulphides, copper gold veins and breccias, and porphyry gold-copper.

The cost of both surveys will be approximately $320,000 and with both surveys being completed in early September. The airborne surveys are fully funded from the recently completed Flow-Through Private Placement to Mineralfields Group.

After completion of the VTEM surveys significant EM anomalies associated with Eskay Creek type precious metal VMS mineralization will be further examined to prioritize geophysical and diamond drill targets for the next phase of exploration.

About the Stewart Gold Camp

The Stewart Gold Camp in Northwestern British Columbia is an emerging, world-class mining district offering discovery opportunities for major gold-copper and precious metal polymetallic deposits. The Hazelton stratigraphy hosts a variety of prominent historic deposits, including Granduc (Besshi-type VMS), Premier Silbak (epigenetic, intrusive related), and Eskay Creek (Kuroko-type precious metal VMS). Recent attention has focused on immense gold-copper porphyry deposits in the region such as Snowfield/Kerr-Sulphurets-Mitchell and on new VMS environments in proximity to the Stewart Highway corridor (Todd Creek, Decade, BA, Poly, and Surprise). 

Strategic infrastructure such as the construction of the Northwest Transmission Line and the ice-free Port of Stewart will facilitate the cost-effective and efficient development of up to eleven pending mining projects and the shipment of concentrates to international markets. The evolution of the Stewart Gold Camp is further enhanced by environmental change; as ice fields and glaciers retreat, significant new exploration targets are exposed and important discoveries are made with each successive year.

Incentive Stock Options Withdrawn

Required regulatory filings for 4,490,000 incentive stock options announced January 22, 2010 were not perfected as required and the grant of options is withdrawn. There are no incentive stock options currently outstanding.

Frontline is repositioning itself as a pure-gold exploration company with experienced management, a solid exploration team and a promising portfolio of gold exploration projects offering investors an excellent opportunity.

Please visit our website at www.frontlinegold.com for the most recent presentation.

On Behalf of the Board

Walter Henry, CFA, ICD.D, President & CEO

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Frontline Gold Corporation
    1550 Bedford Highway, Suite 802, Sun Tower
    Bedford, NS B4A 1E6
    (902) 832-5555
    (902) 832-2223 (FAX)
    info@frontlinegold.com