Vancouver, B.C., March 11, 2020. FALCON GOLD CORP. (FG:TSX-V), (3FA:GR); (“Falcon” or the Company”) is pleased to announce it has received an exploration and drill permit to carry out activities on its gold, silver, and copper prospects on its Central Canada project in Atikokan, Ontario. The permit includes > 20 drill pad locations, overburden trenching, and geophysical surveys to test historic prospects and expand the company’s economic geology understanding.
The company has also compiled multiple historic assessment reports and files that date from 1903-2017. Field work and GPS location confirmation of the prospects has been completed to ensure the accuracy of the data before larger scale drilling, trenching and geophysics is commenced.
Multiple gold, copper, cobalt and other metals occurrences have been discovered on the approximate 3,200-hectare property in a variety of geological settings – none of which has been sufficiently pursued to determine economic potential for mining. The table below highlights some of the historical gold drilling results.
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 produced 33,013 tonnes (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.
Gold mineralization can be traced across the Central Canada property 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 @ 1.83 g.t gold in 2012 by Terrex 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 “well” mineralized shear zone.
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. Its Ontario, Canada projects include: the Central Canada gold and copper projects in Atikokan; the Bruce and Camping lake projects in Red lake; the Wabunk Bay base metal project in Red Lake and an interest in the Burton gold property located near 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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