Subject to shareholder and regulatory approval, High Frontier Resources plans to consolidate its 8.26 million shares on a 4-for-1 basis and change its name to Consolidated Frontier Resources.
To settle a large portion of its debt, the company will issue post-consolidation shares.
The revived company will focus on exploration along the Goose Lake-George Lake trend in the Northwest Territories, says President Albert Applegath. Homestake Mining (TSE) is investigating iron formation-hosted gold zones in the area.
The trend lies 140 miles northeast of the Lac de Gras diamond area and 100 miles east of the Echo Bay’s Lupin gold mine.
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