Falcon Receives Assays at Golden Brook "Gun Flap Hill" Project, Identifies Multiple Critical Element Anomalies

Falcon Receives Assays at Golden Brook "Gun Flap Hill" Project, Identifies Multiple Critical Element Anomalies

Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce the company has received assay results from the late spring, early summer 2023 exploration program conducted over the Gun Flap Hill project located in Southern Newfoundland. The project covers the northwestern portion of the Golden Brook Property, and is located approximately 160 kilometers southwest of Deer Lake. Samples from the first pass reconnaissance program have identified multiple anomalies from rock samples, including

  • Copper-Tantalum-Vanadium anomaly
  • Anomalous Gold
  • Nickel-Chromium anomaly
  • Multiple Critical and Rare Element anomalies including Lithium, Tantalum, Cerium, Lanthanum and Strontium

Prospecting surveys were completed by the company in late May and early June 2023 over predetermined target locations within the largely unexplored Gun Flap Hill project, as part of the company's Q2 2023 Reconnaissance Program. The program was developed to investigate the gold potential of the property through initial prospecting along predefined traverses over a number of priority target areas that were identified in 2022 on the basis of geophysical, geological and structural analysis completed by Falcon. The comprehensive review identified multiple areas deemed prospective in the northwestern part of the Golden Brook Property. A total of 57 rock samples were collected by the prospecting team and submitted to Eastern Analytical Ltd. In Springdale, Newfoundland, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis. Sample collection included chip and grab samples from locations deemed of interest by the in-field personnel. Assay results identified anomalous gold (>5ppb) in three locations in association with quartz vein within granite host. The exploration program further identified multiple anomalous critical and rare metals, and the highlights from this sampling include the following:

  • Two sample stations returned anomalous Nickel-Chromium up to 410ppm Ni and 765ppm Cr.
  • One sample station returned anomalous Copper-Tantalum-Vanadium reporting 280ppm Cu, 19ppm Nb, 23ppm Ta, and 1180ppm V.
  • Two sample stations identified anomalous Lithium (up to 71ppm Li) associated with anomalous Cerium (up to 130ppm Ce), Lanthanum (up to 63ppm La), and Lead (up to 73ppm Pb).
  • Multiple sample stations returned anomalous Strontium (up to 1531ppm Sr), Zirconium (up to 281ppm Zr) and Barium (up to 3552ppm Ba) proximal to the anomalous Lithium sample stations.

The nickel-chromium anomalies are preliminary in nature and should not be considered conclusive evidence of a mineral occurrence. The results represent new information for the area in which the samples were collected, and there are no previously documented nickel or chromium anomalies historically recorded within the public domain from the areas in which the exploration work was conducted. The highly anomalous results are interpreted by the company to be associated with unexplored gabbroic intrusive rocks emplaced within the Gun Flap Hill project area. The newly identified base metal anomalies are under further review by the company. A follow-up survey that includes detailed local geology mapping, additional prospecting and targeted sampling is being considered for a fall 2023 exploration program.

Falcon interprets the multiple critical and rare earth element anomalies to be associated with undocumented pegmatites emplaced in relation to unexplored granite rocks in the project area. The potential for pegmatites in the vicinity of the Gun Flap Hill project was first documented during regional mapping in the early 1980's by the Mineral Development Division, of the Government of Newfoundland and Labrador Department of Mines and Energy which identified an undisclosed number of pegmatites emplaced within deformation zones of granite plutons west of the project. The critical and rare earth element anomalies represent new information for the area in which the samples were collected, and there are no previously documented rare earth anomalies historically recorded in the public domain from the areas in which the samples were collected. The newly identified anomalies are under further review by the company to better determine their significance, and to develop an exploration program for further follow up.

Mr. Karim Rayani, Chief Executive Officer, commented, "Our Gun Flap Hill Property was originally staked to explore its gold potential due to its close proximity to the Cape Ray Fault zone, which hosts the nearby former Hope Brook Mine. The anomalous gold values are significant in that they identify three areas of anomalous gold within the Cape Ray Fault deformation zone, and results greater than 5ppb gold in the province are considered anomalous enough to require follow up work. I must state again these were reconnaissance surveys conducted within an extensive and largely unexplored area, and to have found new areas of Nickel and Chromium and REE mineralization in previously undocumented areas serves to highlight the highly prospective nature of this land position. We feel the Hope Brook Property holds tremendous potential for new exciting discoveries, and we are very excited to see a new critical element discovery for battery elements in the camp as we prioritize projects for our fall exploration campaign."

The Cape Ray Fault Zone has historically been recognized as being fertile for gold. The property is located in proximity to several gold prospects (Wilding Lake, Cape Ray), an advanced stage gold deposit (Valentine), and a former gold mine (Hope Brook). The Company had originally acquired the Golden Brook for its gold potential. Within this immediate area, the most significant deposit is the former Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit now owned by First Mining, and has since been optioned to Big Ridge Exploration Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories. Falcon has applied for financial assistance for the Golden Brook (Hope Brook) project through Newfoundland's Junior Exploration Assistance (JEA) Program.

Qualified Person

Greg Robinson, 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.

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 20km 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 multiple additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina; The Viernes Gold/Silver/Copper project in Antofagasta Chile; 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; in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; the Great Burnt, Gander North/South, Valentine Gold South, Victoria West, and Golden Brook acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland; and most recently Battery Metals projects in Ontario and Quebec, The Timmins West and Outarde Property.

CONTACT INFORMATION:

Falcon Gold Corp.
"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director

Telephone: (604) 716-1036
Email: k@r7.capital

Cautionary Language and Forward-Looking Statements

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the Spin-Out. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Falcon Gold Corp.



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Marvel JV Partner Files Drill Permits at Hope Brook Near Kraken Pegmatite Field

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Each flow-through unit priced at 13 cents consists of one common share and one-half of one common share purchase warrant; each whole warrant ("Warrant") entitling the holder to subscribe for and purchase one non flow-through common share ("Warrant Shares") at a price of 25 cents for a period of 24 month following the closing date.

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HIGHLIGHTS

Mineralization Extended at the Deerhorn and Takom Deposits.

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Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

The approval of this investment follows the Yukon Government signing of a term sheet with Skagway on September 7, 2023 , outlining the terms and conditions of the investment, proposing an initial 35-year preferential access to the port with an option to extend for another 15 years, as well as a significant investment in the initial engineering of the MSP. The Yukon government is currently working towards finalizing an Export Cooperation Agreement with Skagway .

The MSP at Skagway is located in South-east Alaska and is 560 km from, and is the closest tidewater port to, the Casino Project. The Port of Skagway has historically been the preferred port to ship concentrates from the Yukon , and most recently was used to ship copper concentrates from the Minto Mine.

"Further investment and commitment from the Yukon Government in advancing infrastructure for the mining industry is another step in the right direction to advancing the Casino Project." said Paul West-Sells , President and Chief Executive Officer. "We remain confident that the Casino Project is a great asset for the Yukon that will provide benefits to Yukon communities and First Nations for generations to come."

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com

On behalf of the board,

"Paul West-Sells"

Dr. Paul West-Sells
President and CEO
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Certain forward-looking information should also be considered future-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to provide a general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers are cautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: mineral resource and reserve estimation; mine plan and operations; internal rate of return; sensitivities; net present value; potential recoveries; design parameters; economic potential; processing mineralized material; the potential of robust economics at Casino ; advancing the Project through additional engineering and towards the next step in permitting and submission of an environmental and socio-economic effects statement; key changes to the TMF design; increases to the gold recovery in the heap leach; potential economic returns from the Project; estimated initial capital investment costs; estimated operating costs; estimated mining costs; development of the airstrip and all weather access road; anticipated concentrate handling service charges; developing and operating the Project in a safe, ethical and socially-responsible manner; plans for further development and securing the required permits and licenses for further studies to consider operation; market price of precious and base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2023/05/c5608.html

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Lumina Gold

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Recent Project Highlights:

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  • Additional samples have arrived at the material testing facility in the US for the comminution testing.
  • Test work is on schedule and will support the proposed completion of the feasibility study in H1 2025.

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to announce the initiation of a major work program to support the development of the Cangrejos and Gran Bestia gold-copper deposits. The key components of the program include the collection of twenty metallurgical composite samples from dedicated drill holes within the Cangrejos and Gran Bestia deposits, comminution test work, detailed mineralogy and flotation test work for gold and copper recovery estimates and providing concentrate samples for marketing studies. Test work has been awarded to C. H. Plenge & CIA S.A. ("Plenge"), an independent metallurgical laboratory based in Lima, Peru which has previously provided metallurgical support to the Company and Metso USA .

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Osisko Metals Inc. to Present at the Clean Energy and Precious Metals Virtual Investor Conference December 6th

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Osisko Metals Incorporated ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) based in Montreal, Canada, focused on base metals, today announced that Robert Wares, Chairman and CEO, will present live at the Clean Energy and Precious Metals Virtual Investor Conference, hosted by VirtualInvestorConferences.com, on December 6 th .

DATE : December 6 th
TIME: 2:00 PM EST
LINK: https://bit.ly/3rOONJH
Available for 1x1 meetings: December 4th and 5th

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