www.frontiermining.com
Frontier Mining Ltd is a mineral exploration and development Company focussed on gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates, acquires, explores and develops mineral properties. Frontier currently operates two licenses in Kazakhstan, Naimanjal (100% owned) and Benkala (50% owned). Naimanjal operations currently consist of five projects; a producing gold mine, a test stage gold production project, a potential copper porphyry deposit with associated gold and molybdenum, and copper/gold prospects along a 25km trend including both VMS and porphyry types. Benkala is a copper-molybdenum-gold deposit located in north-western Kazakhstan, within the Urals gold/copper ore belt.
Frontier Mining in early stage discussions to consolidate Benkala Copper Project
Frontier Mining (AIM: FML) said that it is in early-stage discussions with Coville Intercorp to merge Coville’s assets into Frontier with a memorandum of understanding (MoU) already signed and the transaction expected to be concluded by 31 October 2010.
Coville's assets include a 50% interest in KazCopper LLP, the joint venture company that owns the Benkala copper-molybdenum-gold deposit in Kazakhstan and 100% of the CJSC (closed joint stock company) Maminiskoe Mining Enterprise, whose mineable gold resources in the Russian classification C1-C2 category have been estimated at 1.2 Moz (million ounces) at an average gold grade of 2.4 g/t (grammes per tonne) and 216,000 oz in the P1 category at an average gold grade of 2.3 g/t.
Results form geological work carried out at Maminiskoe in 2008-2009 are expected to be announced this year.
“We are very pleased that Coville and Frontier have agreed to merge their assets under Frontier. We believe we are now well on our way to becoming a world class company founded upon world class assets and a strong team of professionals,” said Chief Executive of Frontier Mining Erlan Sagadiev.
The company simultaneously announced the appointment of George Neville Ralph Cole as Chief Financial Officer of Frontier to replace Thomas Ian Sinclair. Cole has held the post of Financial Controller since April 2008 and was appointed to the board in December that year.
Sinclair will remain as an executive director of Frontier with specific responsibilities for strategy, mergers and acquisitions.
Shares in the company added 4% on the statement.
















