Fronteer Development Corp
In Turkey, as part of a joint venture with Teck Cominco, Fronteer has a 40% interest in a new mineral district that includes two gold deposits and a third copper-gold porphyry deposit.
Fronteer Development options into Redstar’s Carlin trend property in Nevada
Redstar Gold Corp (TSX-V) said it signed a deal with Fronteer Development Group Ltd (TSX: FRG) under which Fronteer can earn a 70 percent interest in the Richmond Summit project of the Carlin trend property in Nevada currently held 100 percent by Redstar.
The Richmond Summit project covers 2 square miles within the central Carlin trend, 4 miles northwest of the Mike copper-gold deposit within the Gold Quarry (Maggie Creek) district and 5 miles south of the Carlin gold mine, both operated by Newmont Mining Corp (NYSE: NEM).
Under the terms of the agreement, Fronteer can earn the 70 percent interest in the project by completing US$$3.25 million in work expenditures and paying US$$250,000 in cash over four years. Fronteer will act as operator and will commit US$500,000 in work expenditures in the first year.
Other Fronteer Development Corp articles
Other Fronteer Development Corp news
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21/12/09 Fronteer and AuEx continue to hit near surface gold mineralisation with infill drilling at Long Canyon
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01/10/09 Fronteer Development & AuEx Ventures Extend Drilled Gold Mineralization at Long Canyon, Nevada
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16/07/09 Fronteer starts permitting for underground access at Northumberland gold deposit in Nevada
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16/06/09 Fronteer Development reports further promising results from drilling Sandman gold project in Nevada
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10/06/09 Fronteer Developments to take 9.3 pct stake in East Asia Minerals
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27/04/09 Fronteer Development says tests at Long Canyon return 90 pct+ gold recoveries
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