Vancouver, B.C., April 14, 2020. FALCON GOLD CORP. (FG:TSX-V), (3FA:GR); (“Falcon” or “the
Company“) is pleased to announce drilling has commenced on its Central Canada Gold Project. The program is designed to target a significant induced polarization (“IP”) anomaly interpreted by Terra-X Minerals Ltd. 2010 ground geophysics survey which extends 200-meters along strike of the Central Canada mineralized zone which has sampled up to 44 g/t Au over 2 meters (Anjamin Mines Ltd. 1967).
Gold mineralization can be traced across the Central Canada structure, interpreted as a large splay along the Quetico Fault Zone. With more recent drilling by Interquest Resources Corp. intersecting over 1 meter @ approximately 30 g/t gold in diamond drill core and 23.3 meters @ 0.83 g/t gold and 10.61m @ 1.32 g/t gold in 2012 by Terra-X Minerals. Trenching work in 2011 indicated significant gold mineralization to the south of the historic Sapawe Gold Mine, where the operator sampled up to 6.7 g/t gold along a strongly mineralized shear zone.
Gold prospects in the Central Canada Project are typically associated with metavolcanics and felsic intrusive rocks which are cross-cut by quartz-porphyry dykes and sills with later-stage quartz veining. Economic mineralization has been observed in highly mineralized shear zones and quartz veins.
The largest nearby deposit discovered to date is represented by the Sapawe Gold Mine which milled 33,013 tonnes of ore (producing 4,547oz gold & 1,315 oz silver) with an unclassified resource of 528,614 tonnes @ 0.31 oz/t gold calculated by Sapawe Gold Mines Ltd. in 1995. Significant gold mineralization has also been identified in the halo of the original Sapawe Mine of up to 24 g/t.
The technical content of this news release has been reviewed and approved by Mr. Alex Pleson, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Falcon Gold Corp.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon’s flagship Central Canada gold project is approximately 20 kilometers SE of Agnico Eagle’s Hammond Reef Gold Deposit which has a Measured & Indicated estimated resource of 208 Million Tonnes containing 4.5 Million ounces of Gold. The Hammond Reef gold property lies on the Hammond fault which is the control for the gold deposit. The Central Gold property lies on a similar major structure the Quetico Fault. History on Central Canada 1901 to 1907 – Shaft to a depth of 12 m and 27 oz of gold from 18 tons using a stamp mill. 1930 to 1935 – Central Canada Mines Ltd. deepened the shaft to 40 m with about 42 m of crosscuts and installed a 75 ton per day gold mill. 1965 Anjamin Mines completed diamond drilling and in hole S2 returned a 2 ft section of 37.0 g/t Au and hole S3 assayed 44.0 g/t Au across 7 ft. 1985 – Interquest Resources Corp. drilled 13 diamond holes totaling 1,840 m in which a 3.8 ft intersection showed 30.0 g/t Au. The company holds 3 projects in Red Lake; the Bruce and Camping lake projects, the Wabunk Bay base metal project and a 49% interest in the Burton gold property with Iamgold in Sudbury.
Falcon Gold Corp.
Cautionary Language and Forward-Looking Statements
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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