Frontline Gold finds new deposits in West Africa; shares rise

Tue Feb 22, 2011 11:56am EST

Feb 22 (Reuters) - Frontline Gold Corp said it found four gold zones at its Niaouleni project in West Africa, sending the Canadian junior explorer's shares up as much as 13 percent to a more than four-month high.

The company's flagship Niaouleni property lies in the heart of West Mali in Africa's prolific gold belt.

West Africa is seen as one of the world's fastest growing regions for gold production over the next three years.

Shares of the Nova Scotia-based company were up 5 percent at 20 Canadian cents on Tuesday morning on the Toronto Venture Exchange. They touched a high of 21.5 Canadian cents earlier in the session. (Reporting by Bhaswati Mukhopadhyay; Editing by Maju Samuel)

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