Thursday, 3rd February 2005 (2504 views)

Mining company Fronteer Development Group has announced that it has signed an option agreement with Teck Cominco to fully acquire three gold properties in Turkey.

The three sites are situated in the Biga Peninsula of western Turkey and are known as the Biga Properties.

Fronteer is looking to advance the properties to drilling stage during the next 12 months and has set a minimum budget of $500,000.

Dr. Rick Valenta, Fronteer VP Exploration, commented: "This expanded foothold in the Biga Peninsula provides new discovery opportunities that strengthen and compliment our advanced gold portfolio in the region."

Under the deal, Fronteer has to issue shares to Teck Cominco and must complete $2 million on exploration over four years.

Fronteer is a mining exploration company focused on gold deposits in western Turkey and Uranium deposits in Labrador.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.