The Conversation (0)
March 27, 2024
Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce the receipt of confirmation of the admissibility of its Environmental Impact Assessment (“EIA”) for the Horne 5 Project located in Rouyn-Noranda (the “Admissibility”) from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks (“MEFCCWP”).
Since the initial EIA filing in 2018, Falco has completed extensive field work and studies, in addition to providing the documentation in order to respond to questions and requests for information raised by the MEFCCWP. Driven by ESG principles, the EIA was conducted by a multidisciplinary team comprised of Falco’s employees, experts and partners, and highlights the Horne 5 Project’s benefits and impacts on its physical, biological and human environments. The EIA includes various measures to avoid, mitigate or compensate for these impacts, and to enhance the project’s overall benefits, in a strong corporate governance environment. The EIA and all related documentation are publicly available on the Environmental Assessment Register of the MEFCCWP.
Luc Lessard, President and Chief Executive Officer of Falco noted: “In addition to the recent conclusion of the Operating License and Indemnity Agreement with Glencore Canada Corporation on January 23, 2024, the Horne 5 Project’s EIA Admissibility from the MEFCCWP constitutes another significant milestone in advancing closer to the development and realization of the Horne 5 Project. Falco’s team has been working extremely hard on the environmental permitting process, and the EIA Admissibility provides the path forward for the advancement of the Project. Although important steps remain, we strongly believe in the Horne 5 Project as a green and world-class polymetallic project that will benefit the surrounding communities. We would like to thank everyone involved at the MEFCCWP for their work and continued assistance throughout this process. Falco would also like to thank the communities of Rouyn-Noranda for their engaged and active participation and continuous support.”
Public Hearing Process
The EIA Admissibility allows Falco to progress towards the public hearing process to be hosted by the Bureau d’audiences publiques sur l’environnement (“BAPE”) following the issuance by the MEFCCWP of a BAPE mandate to conduct such public hearing process, which notably involves a 45-day public information period, beginning April 24, 2024, in addition to a 4-month public hearing process. Falco’s stakeholders will be invited to this public information period which will allow them to meet Falco’s team, ask questions and obtain information on the Horne 5 Project. For more information, please refer to the following MEFCCWP link: https://www.ree.environnement.gouv.qc.ca/index.asp
Since 2019, Falco has been interacting and working with its host milieu and stakeholders, including its Consultation Committee. The comments, questions and ideas collected during these discussions have helped Falco gain a better understanding of the challenges and concerns of our stakeholders in order to develop a proposal for the Horne 5 Project that fosters the harmonious cohabitation of all stakeholders in the region with this mining project of a new generation.
Hélène Cartier, Vice President, Environment, Sustainable Development and Community Relations added: “We are extremely grateful to our stakeholders and host communities, who participate in our consultation activities and initiatives, allowing us to develop a great project for the Rouyn-Noranda region. We remain committed to continuing to develop a collaborative project and making it a source of pride for our communities. Our team is ready and proud to initiate the BAPE process.”
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal asset is the Horne 5 Project located under the former Horne mine that 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 owning a 17.3% 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 Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws, in particular Falco’s ability to complete the BAPE, to obtain receipt of permits and approvals required to develop the Horne 5 Project and the ability of Falco to efficiently develop and operate the Horne 5 Project based on the terms of the Operating License and Indemnity Agreement concluded with Glencore Canada Corporation (“OLIA”). These statements are based on information currently available to the Corporation and the Corporation provides no assurance that actual results will meet management’s expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors, including, without limitation, the ability of Falco to provide the financial assurance guarantees required by the OLIA and the exercise by Glencore Canada of rights under the OLIA which could affect the development and operation of the Horne 5 Project, together with the other risk factors identified in Falco’s Annual Information Form and other continuous disclosure documents available at www.sedarplus.com. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
FPC:CA
4h
Quarterly Activities/Appendix 5B Cash Flow Report
10h
Mali Court Upholds Detention of Barrick Employees
A Malian court has upheld the detention of four employees of Barrick Mining (TSX:ABX,NYSE:B), rejecting an appeal filed by the Canadian mining company as its dispute with the military-led government deepens.
According to a Bloomberg report, Judge Samba Sarr ruled Tuesday (July 22) that the appeal was unfounded, according to Barrick’s legal counsel, Alifa Habib Koné.
The employees have been held in pre-trial detention since November 2023 on charges including money laundering and financial misconduct, allegations the company has dismissed as without merit.
In June, Mali’s transitional government placed the Loulo-Gounkoto mine under provisional administration and later removed nearly a metric ton of gold from the site. A similar seizure of three metric tons occurred earlier this year after Barrick suspended exports due to the dispute.
Barrick has initiated international arbitration proceedings, citing violations of its mining convention with the state.
The company says it was not formally notified of the appointment of the provisional administrator, who it later learned was a former company employee, Samba Touré, now serving as a liaison to the mines ministry. Touré has been facilitating state control of the site since the takeover.
The Loulo-Gounkoto complex, which Barrick operates and owns 80 percent of, remains central to its African portfolio. The remaining 20 percent is held by the Malian government.
Barrick reported that its Malian operations generated US$949 million in revenue during the first nine months of 2023.
The company has framed the seizures and detentions as part of a broader dispute over tax claims and the implementation of Mali’s new mining code, which includes increased state equity and royalty rates.
In December 2023, a court in Bamako issued a warrant for the arrest of Barrick CEO Mark Bristow. The company has not publicly addressed the warrant but continues to operate in the country while pursuing legal remedies.
Amid the mounting friction in Mali, Barrick is in discussions to sell its Hemlo mine in Ontario, its last producing gold asset in Canada.
The prospective buyer is Discovery Silver (TSX:DSV,OTCQX:DSVSF), which has been expanding its portfolio following its recent acquisition of Newmont (TSX:NGT,NYSE:NEM) Porcupine operation for up to US$425 million.
A finalized Hemlo deal would mark Barrick’s complete exit from Canadian gold production. Hemlo has seen declining output in recent years and is no longer considered core to Barrick’s long-term strategy.
The ongoing standoff in Mali continues to affect the company’s export flows and local operations, with no resolution yet announced regarding the release of detained staff or the return of the seized gold.
The Loulo-Gounkoto mine produced over 680,000 ounces of gold in 2023, making it one of the most productive in West Africa.
Barrick has said it remains committed to resolving the dispute under the terms of its longstanding mining agreement with Mali.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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10h
Brightstar Resources Pursues Aurumin Acquisition to Consolidate Sandstone Assets
Brightstar Resources (ASX:BTR) has entered into a scheme implementation deed with Aurumin (ASX:AUN) for Brighstar to acquire 100 percent of Aurumin’s issued capital.
The companies agreed on arrangement terms in June, underlining how the merge will de-risk and accelerate Brightstar’s Sandstone gold project.
Aurumin, on the other hand, owns the Central Sandstone gold project, also in the the emerging gold district of Sandstone region.
According to Brightstar, the combined assets would lead to a pro-forma total mineral resource estimate of approximately 2.4 million ounces at 1.5 grams per tonne (g/t) of gold.
“We believe that combining Aurumin and Brightstar represents a unique opportunity to build a Western Australian gold business of genuine scale with demonstrable upside that also de-risks future development activities and operations at Sandstone,” commented Brightstar Managing Director Alex Rovira.
The transaction amounts to approximately AU$0.12 per Aurumin share, with Aurumin shareholders set to receive one Brightstar share for every four shares held on the scheme’s date.
Existing Brightstar shareholders will hold 82 percent of the combined group, while Aurumin shareholders will have the remaining 18 percent.
“(This merger) will underpin the mining future of the Sandstone region. Given our adjacent mineral resources, this transaction makes good commercial sense for us and it’s fantastic that we have now been able to agree terms to make this consolidation a reality,” said Aurumin Managing Director Daniel Raihani.
In December 2024, Brighstar reported drilling results from its expanded portfolio at Sandstone and Jasper Hills, which included 21 meters at 2.86 g/t gold, including 1 meter at 26.4 g/t from 146 meters.
For Central Sandstone, Aurumin said that the resource is currently 19 million tonnes at 1.5 g/t for 885,000 kilo ounces gold . The project also contains iron, with assays returning grades up to 67 percent iron.
Subject to court approval and other customary conditions, the transaction is expected to be implemented in October.
Shares of Brightstar rose 1.03 percent a day after the announcement, closing at AU$0.49 on Tuesday, July 22.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Brightstar Resources is a client of the Investing News Network. This article is not paid-for content.
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22 July
Quarterly Activities/Appendix 5B Cash Flow Report
21 July
John Feneck: Gold, Silver, Platinum, Copper — 8 Stocks to Play These Metals
John Feneck, portfolio manager and consultant at Feneck Consulting, outlines his latest thoughts on the gold, silver, platinum and copper markets.
With prices on the rise, he encouraged investors to get involved if they aren't already.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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21 July
Hidden Gem: How Intrusion-related Gold Deposits Could Fuel Next-generation Discoveries
With the gold price continuing to hover near all-time highs and major producers scouring the globe for new large-scale deposits, one type of gold system is emerging as a potential game changer.
Intrusion-related gold systems (IRGS) have already yielded multimillion-ounce mines, like Kinross Gold's (TSX:K,NYSE:KGC) Fort Knox in Alaska, and sparked billion-dollar acquisition bids, such as Northern Star Resources (ASX:NST) offer for De Grey Mining in Australia. Even so, these deposits remains largely under the radar for most investors, and their full investment potential is only beginning to be understood.
Traditional high-grade vein systems often require deep, high-cost underground mining. IRGS deposits, however, form broad, consistent zones of mineralization that lend themselves to large-scale, open-pit development. These geological systems are particularly attractive in today’s market as they offer scale, longevity and a clear path to resource growth, which are critical at a time when new gold discoveries are becoming increasingly rare.
Given their geological and economic advantages, IRGS deposits are gaining attention from the world’s most experienced geologists and savvy resource investors.
Geology and controversy
IRGS forms when granitic magma intrudes into older country rock, generating heat and pressure that cause metal-rich hydrothermal fluids to migrate outward. As these fluids cool, they deposit gold — often accompanied by bismuth, tellurium and tungsten — within both the intrusion and surrounding host rocks. Unlike traditional high-grade vein systems, IRGS deposits typically develop broad zones of mineralization that can extend for hundreds of meters in width, with gold distributed in disseminated sulfides and sheeted quartz veins rather than concentrated in narrow lodes.
Though often lower in grade, generally ranging from 0.5 to 2 grams per ton, their scale and uniformity make them ideal for large-scale, open-pit mining. IRGS deposits also tend to occur in clusters along regional fault corridors that span tens of kilometers, allowing for the possibility of multiple mineralized centers within a single district. This combination of features offers the potential for long mine lives and relatively low development risk.
As a relatively new yet economically relevant type of deposit system, IRGS remains a topic of debate within the geological community. Some researchers question whether IRGS represents a truly distinct deposit class or simply a variant of orogenic or porphyry systems, shaped by local geological conditions.
The lack of universally agreed-upon diagnostic features, such as consistent fluid chemistry or mineral zoning, can make them difficult to distinguish in the field. Unlike epithermal systems, for example, IRGS typically lack high-sulfidation alteration and strong vertical metal zoning, adding complexity to exploration.
While this ambiguity can be challenging for geologists, it also highlights the opportunity: exploration companies that can correctly interpret these systems using modern geophysics, structural models and geochemical tools may uncover valuable deposits that others have overlooked or misclassified.
As academic consensus continues to evolve, the practical investment question centers on results. And recent activities in the M&A space and among major gold producers point to a compelling opportunity.
Economies of scale
The market is beginning to reward companies with exposure to IRGS geology.
Fort Knox, an IRGS-style deposit in Alaska, has produced more than 8 million ounces of gold since opening in 1996 and still has more than 4 million ounces in reserves.
More recently, the Hemi discovery in Western Australia, owned by De Grey Mining, exemplifies the growing investor appetite for IRGS-scale projects. The 8.5 million ounce discovery attracted a AU$5 billion takeover bid by Northern Star Resources in early 2024, and the transaction was completed in May 2025. Hemi's low-strip, open-pit profile and exceptional size put it at the top of many watchlists, validating the IRGS model as a legitimate path to tier-one status.
Unlike epithermal or orogenic systems, where new discoveries often hinge on chasing high-grade shoots at depth, IRGS exploration favors methodical, district-scale work. The size of the prize is significant, but realizing value requires a clear geological model, long-term commitment and the capital to drill systematically across wide zones.
For investors, this translates to a unique set of signals when assessing junior companies: control of a large fault corridor, early stage ounces that can grow, geophysics-driven targeting and a leadership team with IRGS-specific experience. The good news is that many such systems remain underexplored or misclassified, particularly in Proterozoic terrains across Australia and North America.
Alice River gold project: An emerging IRGS opportunity
One company that exemplifies the early mover advantage in an emerging IRGS district is Pacgold (ASX:PGO), an Australian junior that holds 377 square kilometers of granted tenure in far north Queensland, anchored by the Alice River Fault Zone. Pacgold controls more than 30 kilometers of strike along this corridor, which has seen historical small-scale mining but virtually no systematic modern exploration, until recently.
Pacgold released its maiden resource in May 2025: 26.8 million tons grading 1 gram per metric ton gold for 854,000 ounces across three zones: central, southern and northern. These zones represent only about 5 percent of the project’s total strike length, however, highlighting substantial room for expansion. Importantly, the resource includes broad, consistent zones of gold mineralization starting at surface, an ideal profile for potential open-pit development.
The company is currently executing an aggressive exploration program, with drilling underway on five priority targets identified through a combination of geophysics, soil sampling and historical data reinterpretation.
These targets share key IRGS characteristics: elevated gold-in-soil values, coincident magnetic and radiometric anomalies, and structural settings proximal to known intrusions.
Pacgold’s exploration model draws direct inspiration from the Hemi discovery, where intrusive bodies hosting disseminated gold were revealed through a similar approach. The company’s management and technical teams believe Alice River may represent the next large-scale IRGS discovery in Australia, and early exploration results support this.
With a current market capitalization of AU$10.9 million and approximately AU$2.1 million in cash as of March 2025, Pacgold offers investors asymmetric exposure to a potentially transformative discovery. Its board includes veterans of Australia’s most successful gold discoveries, including Tropicana, Julimar and Coyote. This depth of experience gives the company a strong strategic and technical footing as it advances toward a multimillion-ounce resource.
Investor takeaway
IRGS represents one of the most compelling yet overlooked exploration frontiers in the gold exploration space.
Their ability to host long-life, bulk-tonnage deposits with relatively low technical risk makes them attractive not just to juniors, but also to major producers hunting for future development pipelines. Few juniors are positioned in proven IRGS corridors, and even fewer have the tenure, team and technical discipline to deliver meaningful discoveries — and those that possess this ideal combination present a window of opportunity for investors.
As with any early stage investment, the risks are real. But so is the upside. In this global search for the next big gold camp, IRGS discoveries may well be where the future begins.
This INNSpired article is sponsored by Pacgold (ASX:PGO). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Pacgold in order to help investors learn more about the company. Pacgold is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Pacgold and seek advice from a qualified investment advisor.
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