Falcon Gold Acquires 10,150 Hectares in Gander North, Adjacent to Sassy Resources - Plans High Resolution Magnetic Surveys

Falcon Gold Acquires 10,150 Hectares in Gander North, Adjacent to Sassy Resources - Plans High Resolution Magnetic Surveys

Falcon Gold Corp. (TSX-V:FG), (GR:3FA), (OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce it has acquired a significant land position in the Gander North area via staking and cover 406 claims totaling 10,150 hectares. The Company has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits. These new claims are located 25 kilometers due East of New Found Gold's Queensway Project and are contiguous to Sassy Resources Gander North Project which Sassy had optioned from Shawn Ryan

Figure 1. Regional location of Falcon's Gander North Gold property.

Northeast trending structural lineaments first recognized by Sassy Resources to the immediate east are interpreted to continue onto the Property. An interpretation of the regional magnetics shows NNE trending, ophiolite bearing thrust faults are cross-cut by a series of brittle NE trending fault-fractures, which indicate a regional setting similar to that to the highly prospective eastern Exploits Subzone. Gold mineralization models along the Exploits Subzone are based on analogous structural settings to those at Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/).

Recent exploration by Sassy Resources on their Gander North Project have returned spectacular results from soil geochemistry sampling surveys as evidenced with recent published results of 1,432 ppb Au in northeast trending zones.

Falcon's Chief Executive Officer, Karim Rayani commented,"The Gander North Property marks an exciting addition to our property portfolio - the recent soil sampling program released by Sassy Resources and world-renowned prospector Shawn Ryan is further proof that we continue to acquire land positions in highly prospective terrains, where our interpretations show a very high probability of a continuation of a structural system running through our ground. We eagerly await the exploration permitting approvals and the start of our detailed high resolution magnetic surveys within our Gander Project Area."

Falcon Gold Gander South Property

Falcon's new land acquisition is hosted within the Exploits Subzone of the central Newfoundland gold belt. The property covers extensions or is proximal to major structure, the Dog Bay-Appleton-Grub Line fault system, a crustal scale fault zone that extends from the north coast of Newfoundland, southwest through Gander and these structural corridors are intimately associated with recent gold discoveries including New Found Golds Queensway Project. The property lies within a domain of ambiguous geophysical signatures with the only coverage being large-scale regional geophysical surveys and even with these coarse lines spacings, preliminary interpretations indicate zone boundaries and mapped units differ significantly from published regional geological maps.

Qualified Person

Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

The QP has not completed sufficient work to verify the historic information on the properties comprising the Hope Brook property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20 km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.

CONTACT INFORMATION:

Falcon Gold Corp.

"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director

Telephone: (604) 716-0551
Email: info@falcongold.ca

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.

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.

Neither 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 release.

SOURCE:Falcon Gold Corp



View source version on accesswire.com:
https://www.accesswire.com/684565/Falcon-Gold-Acquires-10150-Hectares-in-Gander-North-Adjacent-to-Sassy-Resources--Plans-High-Resolution-Magnetic-Surveys

News Provided by ACCESSWIRE via QuoteMedia

FG:CC
Falcon Gold

Falcon Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Falcon Gold (TSXV:FG)

Falcon Gold


Keep reading...Show less
Falcon Hires Centreline for Great Burnt Drilling

Falcon Hires Centreline for Great Burnt Drilling

Falcon Gold Corp. (FG:TSXV)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce that the Company has awarded a drilling contract to CentreLine Drilling of Newfoundland to conduct a diamond drilling program at its 100% owned Great Burnt Copper Project in Central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. Falcon will provide further guidance on an estimated drill start date once logistics for the program are determined and remaining service providers are confirmed

Falcon holds 2,275 hectares in the Great Burnt camp, with licenses located north of, and contiguous to, Benton Resources Inc. - Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. ("Benton") recently optioned the Great Burnt Copper-Gold Project from Spruce Ridge Resources Ltd. ("Spruce Ridge") in an agreement that allows Benton to earn a 70% interest in the property (see press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu (https://www.spruceridgeresources.com/great-burnt.php). Recent drilling by Benton at the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres (see press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge reported 8.06% Cu over 27.2 m (TSXV: SHL press release dated March 18, 2021). The Great Burnt Greenstone Belt is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see right-hand-side image in Figure 2). The presence of mineral occurrences within ground adjacent to Falcon's Great Burnt Copper Property cannot be used as an indication of mineralization within Falcon's property itself.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CORRECTION BY SOURCE: Falcon Receives Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

CORRECTION BY SOURCE: Falcon Receives Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

The release issued this morning has been corrected and replaced due to an update.

Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce that the Company has received drill permit approval to conduct a diamond drilling program at its Great Burnt Copper Project in central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. The Company will provide further guidance on an estimated drill start date once logistics for the program are determined and service providers are confirmed

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Recieves Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

Falcon Recieves Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

Falcon Gold Corp. (FG:TSX-V)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce the company has received drill permit approval to commence diamond drilling at its Great Burnt Copper Project in Central Newfoundland. The Company will be reporting back in the coming week once drill contractors have been finalized. Falcon initially plans to test up to 10 geophysical anomalies with a maximum of 1100 meters of drilling

Falcon holds 2,275 hectares in the Great Burnt Camp, with licenses located north of, and contiguous to the Benton-Spruce Ridge Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. recently optioned the Great Burnt Copper Gold Project from Spruce Ridge Resources Ltd. In an agreement that allows Benton to earn a 70% interest in the property (press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu. (https://www.spruceridgeresources.com/great-burnt.php). Recent drilling by Benton Resources Inc. over the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag and 0.05% Co over 12.30 meters (press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge Resources reported 8.06% Cu over 27.2m (TSXV: SHL press release dated March 18, 2021). The Great Burnt greenstone belt is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see Figure 2).

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Gold Engages CHF Capital Markets

Falcon Gold Engages CHF Capital Markets

Falcon Gold Corp. (FG:TSX-V)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce that it has retained the services of CHF Capital Markets Inc. ("CHF"), a highly respected Canadian investor relations and capital markets firm, as its representative and to provide capital markets services effective immediately

CHF Capital Markets Inc. (www.chfcapital.com) is a Toronto-based firm specializing in Investor Relations. With more than 139 years of collective IR and Capital Markets experience, CHF has been a trusted partner for many public companies in Canada and worldwide, operating in a broad range of industries, including Mining, Oil & Gas, AI Technology, Fintech, Healthcare, Biopharmaceuticals, Cannabis, and Special Situations. Its team consists of a diverse pool of talent that combines analytical and creative skills - high-profile communications and investment industry specialists, and digital media experts.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon's CEO Issues Corporate Update Letter To Shareholders

Falcon's CEO Issues Corporate Update Letter To Shareholders

Falcon Gold Corp. (TSX-V:FG)(FSE:3FA)(OTCQB:FGLDF) (the "Company") is pleased to report a corporate update letter in an address to shareholders from its Chief Executive Officer Karim Rayani

Dear Shareholders,

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
copper bars

Copper Prices Jump as Top Chinese Smelters Agree to Cut Output

In a bid to cope with a raw materials shortage and underperforming plants, top copper smelters in China collectively agreed to cut production in a Beijing meeting this week.

Sources with personal knowledge of the matter told Reuters that the amount of cutbacks will rely on each smelter’s individual assessments, as no specific rates or volumes have been imposed.

The news spurred copper prices upward, with the cash contract on the London Metal Exchange closing Friday (March 15) at US$8,790 per metric ton (MT) after beginning the week at the US$8,520 level.

Keep reading...Show less
Interra Copper (CSE:IMCX)

Interra Copper Announces Closing of First Tranche Private Placement, Credit Facility and CEO Appointment

Interra Copper Corp. (CSE: IMCX; FRA: 3MX) ("Interra" or the "Company") is pleased to announce that, further to its news release of February 23, 2024, which announced a non-brokered private placement (the "Private Placement") offering up to an aggregate of 2,000,000 units (the "Units") at a price of C$0.20 per Unit for gross proceeds of up to C$400,000, it has closed the first tranche of this non- brokered private placement (the "First Tranche Private Placement") raising aggregate proceeds of $145,000.

The Company issued 725,000 units (each, a "Unit") at a price of $0.20 per Unit. Each Unit consists of one (1) common share in the capital of the Company (a "Share") and one-half (1/2) of one (1) Share purchase warrant, whereby each whole Share purchase warrant (a "Warrant") shall be convertible into an additional Share (a "Warrant Share") at an exercise price of C$0.35 per Warrant Share. Each Warrant shall expire on the date that is two (2) years following the date of issuance (the "Expiry Date"). The Expiry Date is subject to acceleration in the event the volume-weighted average trading price of the Company's common shares on the Canadian Securities Exchange is equal to or greater than C$0.45 for a continuous 30- day period at any time after that date which is four (4) months following the date of issuance, in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

Keep reading...Show less
Forte Minerals (CSE: CUAU)

Forte Minerals


Keep reading...Show less
Updated Nifty Mineral Resource Estimate Reaches 1 Million Tonnes Contained Copper

Updated Nifty Mineral Resource Estimate Reaches 1 Million Tonnes Contained Copper

Australian copper company, Cyprium Metals Limited (ASX: CYM) (Cyprium or the Company), is pleased to present an updated 2024 Mineral Resource Estimate (MRE) for its flagship asset the Nifty Copper Mine (Nifty) in Western Australia.

Keep reading...Show less

Hudbay and Marubeni Sign Flin Flon Option Agreement to Advance Exploration Partnership

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) is pleased to announce the signing of an option agreement (the "Agreement") with Marubeni Corporation ("Marubeni"), pursuant to which Hudbay has granted Marubeni's wholly-owned Canadian subsidiary an option (the "Option") to acquire a 20% interest in three projects located within trucking distance of Hudbay's processing facilities in Flin Flon, Manitoba, as shown in Figure 1 and further described below. In order to exercise the Option, amongst other things, Marubeni will fund at least C$12 million in exploration expenditures over a period of approximately five years with Hudbay acting as operator and carrying out the exploration activities. Upon successful completion of Marubeni's earn-in obligations, a joint-venture will be formed to hold the selected projects with Hudbay, acting as operator, holding an 80% interest and Marubeni holding the remaining 20% interest. The execution of the Agreement follows the signing of a memorandum of understanding between the parties that set out the framework for a multi-year exploration partnership, as previously announced in July 2023.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Firetail Resources

Mineralised Structure at Cumbre Coya Extended to Over 170m Strike Length

Australian battery minerals explorer, Firetail Resources Limited (“Firetail” or the “Company”) (ASX: FTL) is pleased to provide an update on the maiden diamond drilling (DD) program at the Picha Copper Project in Peru.

Keep reading...Show less
Falcon Gold

Falcon Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×