Frontenac Ventures Corporation (Frontenac) is a private company dedicated to the exploration and development of uranium properties through the acquisition of quality uranium prospects in Canada. The foremost project is in the East Bancroft area of southern Ontario, approximately 50 miles east of Bancroft, between Toronto and Ottawa. Four uranium mines operated in the Bancroft area from 1957 to 1964 and produced in excess of 15 million pounds of uranium from pegmatite ore.
The collapse of the uranium market and resulting very low prices during the 1970's resulted in almost no exploration during the next several decades. In the past two years there has been a resurgence in the uranium market, with the current spot price exceeding US$41 per pound. This dramatic increase in uranium prices has resulted in the re-examination of uranium projects which had been abandoned during the 1970's and 1980's.
During 2005 and 2006 Frontenac acquired a 100% ownership in two uranium properties that had been explored and partly developed during the last uranium boom. Substantial drilling and engineering studies at that time indicated that there was potential for an open-pit operation on one of these properties. In 2006 Frontenac staked an additional 400 claims for a total of almost 8,000 hectares, contiguous with the two original properties. These claims enclose a large area of very high radioactivity, due entirely to uranium, which has been identified by the Canadian Government since the last period of exploration. Several other uranium occurrences are recorded by the Ontario Government in the area which has now been staked by Frontenac. The current large property held by Frontenac is in the same geological province as the former mines in the Bancroft area.
These properties can be easily reached by both paved and gravel roads. High voltage electrical power is available within two miles of the property, while labour and supplies are available from several nearby towns and villages.
Frontenac's management team has over 100 years of combined experience in exploration, mine development and project financing.
The company plans to commence an aggressive exploration and development program during 2006, in order to establish the economic potential of these highly prospective properties.