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Market: TSX NYSE AMEX
Sector: Gold Mining
EPIC: FRG
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Fronteer Gold
fronteergold.com

Fronteer Gold has an interest in several growing deposits among a portfolio of projects in Nevada, northwestern Turkey, and Labrador.

 

Fronteer Development options into Redstar’s Carlin trend property in Nevada

22nd Jul 2009, 3:11 pm
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.

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