The Conversation (0)
Falco Resources Ltd. (TSX-V:FPC) (" Falco " or the " Corporation ") is pleased to announce that it will begin a major exploration initiative across its significant holdings within the world-class Noranda Mining Camp (the " Noranda Camp "), which is located in the region of Abitibi, Québec, starting with an Airborne Gravity Gradiometry (" AGG ") survey (the " Survey ") over the next month. The Survey, a first for the region, will be utilized to identify new near surface Volcanogenic Massive Sulfide (" VMS ") type deposits. Falco is the largest claim holder in the Noranda Camp where over 19.0 Moz of gold equivalent was previously mined.
Luc Lessard, President and CEO of Falco, commented: "While the Horne 5 Project remains the Corporation's primary focus, Falco is unique among peers as few, if any, gold exploration companies hold such a significant position in a world-class mining camp. With this modern exploration technology, we believe this survey offers an unprecedented opportunity to generate new discoveries in the Noranda Camp. The scale of the Noranda Camp and the prevalence of favorable geological formations to VMS mineralization was historically overwhelming for previous operators. Combining this new exploration approach with our extensive compilation of historical data, the potential to identify more VMS type deposits in the periphery of the Horne 5 Project Complex is very compelling."
The Survey will be operated by Xcalibur MPH (Canada) Ltd. using their Falcon system known as FALCON fixed-wing AGG with a high-density grid of 100-meter line spacing providing exceptional resolution for detailed mapping. The Survey will be flown over 280 square kilometers across the majority of the Corporation's land package, including the Noranda Camp, which includes 13 former mining sites for gold and base metals (see Figure below).
AGG surveys measure the change in density between the lighter host rock and denser sulfide mineralization. This sharp density contrast should be well identified by the Survey. Importantly, the majority of the rhyolitic units remain untested due to the scale of the property. Combined with the high-density contrast and expected shallow depths of mineralization, the Survey will provide an unprecedented opportunity to identify new VMS type targets at the Noranda Camp.
Results from the Survey are expected to be received for analysis in December 2025 and will complement the mining camp-scale digital compilation and geological reinterpretation of historical data. The integration of high-precision topographic data from the government-managed LIDAR survey will help define the structural controls associated with the distribution of high-grade mineralization. Consequently, the Corporation will define priority exploration targets in brownfield sites, with potential drilling to be determined based on the merit of the identified targets.
Stock Option Grant
The Corporation's Board of Directors approved the grant of incentive stock options (the " Options ") to key employees, officers, special advisors and directors to purchase up to an aggregate of 9,950,000 common shares of the Corporation (" Common Shares "). The Options are subject to a three-year vesting period and a five-year term. The Options are exercisable at an exercise price of $0.33 per Common Share being the closing price of the Common Shares on the TSX Venture Exchange on November 4, 2025.
Qualified Person
The scientific and technical information related to this press release has been reviewed and approved by Mr. Francois Goulet, independent consultant geologist. He is a Professional Geologist registered in Québec.
About Falco
Falco is one of the largest mineral claim holders in the province of Québec, with an extensive portfolio of properties in the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 63,000 hectares of land in the Noranda Camp, which represents 63% of the camp as a whole and includes 13 former gold and base metal mining sites. Falco's main asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder, with an approximate 16% interest in the Corporation.
For further information, please contact:
Luc Lessard
President and Chief Executive Officer
514-261-3336
info@falcores.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release .
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (together, "forward looking statements") within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by words such as "plans", "expects", "seeks", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Specific forward-looking statements in this news release include, but are not limited to, statements with respect to; the expected timing, scope and results of the Survey; the ability of the Survey and related compilations to identify new VMS type targets at the Noranda Camp; the anticipated integration of high-precision topographic data from the government-managed LIDAR survey. These statements are made as of the date of this news release. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Falco's annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although the Corporation believes the forward-looking statements in this news release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Consequently, the Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c86a666-4d8b-479a-a4eb-96d3e18f6ff2
