PRWeb The Leader Press Release Distribution
See How PRWeb Works

We're here to help 1-866-640-6397

Login Create Free Account


All Press Releases for April 17, 2002 Subscribe to this News Feed    
 

April 8, 2002 CDNX symbol "FRP" FRONTIER ANNOUNCES NEW ACQUISITION OF A GOLD-SILVER PROPERTY IN MEXICO

Frontier Pacific Mining Corporation announces a Letter of Intent has been signed with Minera Holmex S.A. de C.V. on a gold-silver project located in the Moris-Ocampo area, Southwest Sonora, Mexico. Small-scale mining was carried out on the property during late 1800's and early 1900's.

Vancouver BC: Frontier Pacific Mining Corporation (Frontier" or the Company") announces a Letter of Intent has been signed with Minera Holmex S.A. de C.V., a corporation based in Culiacan, Mexico, on a gold-silver project located in the Moris-Ocampo area, Southwest Sonora, Mexico. The terms of the Letter of Intent are US $5,000 on signing, and escalating payments totalling US $200,000 over a period of 4 years and a final payment of US $450,000 in the 5th year to acquire a 100% interest in the property. The vendor will retain a 1.5% Net Smelter Return with a buy-out of US $1,500,000.

A finders-fee of US $5,000 and 50,000 shares is payable on signing with US $100,000 in shares payable at the end of 4 years, or at the start of production, in accordance with CDNX Policy 5.1 on finders fees.

The Company recently carried out an evaluation on this property including representative chip sampling. Sampling results include gold values up to 13 grams over 2 metres and silver values up to 457 grams over 3 metres in widely-exposed multi-stage quartz-chalcedony breccia zones spatially related to upper level epithermal systems emplaced in Tertiary lower andesitic sequences. Small-scale underground mining was carried out in the past. Frontiers geologists believe excellent potential exists on the property for hosting higher-grade medium tonnage gold-silver deposits.

Frontier is also pleased to report it is in advanced negotiations to acquire a gold property in Nevada, USA, as the Company continues to build a package of highly prospective properties in North America where it will focus its exploration efforts in the near term. Due diligence with regard to title and ownership is currently being carried out on the Ding-Ma, Carlin-type gold project in Shaanxi Province, China.

Frontier is pleased to announce the appointment of Jon Van Hulstein as a member of the Board of Directors of the Company. Mr. Hulstein is currently Vice-President, Corporate Development of Frontier. He has a strong business, marketing, public and media relations background. He is also President, General Manager and an owner of Sunshine Coast Hockey Camps, one of North America's largest hockey camp operations based in Powell River, BC.

Mr. Gaurav Sri Krishna resigned from Frontier as a Director on March 31, 2002, to pursue his interests in the finance and technology sectors.

Mohan R. Vulimiri"
Mohan R. Vulimiri, M.S., P.Geo., President


This press release contains forward-looking statements that involve risks and uncertainties. The Canadian Venture Exchange does not accept responsibility for the adequacy or accuracy of the contents herein

OPTIONS
Printer Friendly Version
Email this story to a colleague
CONTACT INFORMATION
Mohan Vulimiri
Frontier Pacific Mining Corporation
1 604 717-6488
Email us Here
ATTACHED FILES

There are no multimedia files attached to this release. If this is your release, you may add images or other multimedia files through your PRWeb News Management Console.

ABOUT PRESS RELEASES
If you have any questions regarding information in these press releases please contact the company listed in the press release. Please do not contact PRWeb. We will be unable to assist you with your inquiry. PRWeb disclaims any content contained in these release. Our complete disclaimer appears here.