Base Metals

falcon definition

Falcon Gold Acquires Ground in Great Burnt Copper-Gold Region, Central Newfoundland Belt

Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ); ("Falcon" or the "Company") is pleased to announce it has acquired through staking 91 claims (the "Property") totaling 2,275 hectares located in the Great Burnt base-metal rich greenstone belt in central Newfoundland (Figure 1). The Great Burnt greenstone belt is host to the Great Burnt Copper Zone 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.comgreat-burnt.php) Recent 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 also hosts the South Pond A and B copper-gold zones and the End Zone copper prospect within a 14 km mineralized corridor

Figure 1. Regional location of Falcon's Great Burnt copper property.

The Property

The Property is hosted within the Great Burnt greenstone belt (GBGB) which hosts Besshi-type massive sulphide deposits. These types of deposits generally occur in thick sequences of marine sedimentary rocks ranging from black shale to arkose to greywacke. Sulphide lenses can be several meters thick and extend for several kilometres. Besshi-type massive sulphide deposits are generally copper dominant and can contain precious metals such as gold and often contain cobalt. The Property is also located 4km west of the Crest Resources-Exploits Discovery joint venture project within the Exploits Subzone. The Exploits Subzone contains deep seated gold-bearing structures of the Dog Bay-Appleton Fault- GRUB Line deformation corridor that contains the high-grade Keats Gold Zone of New Found Gold.

Figure 2. Location of the Falcon Gold acquisition proximal to Spruce Ridge Resources.

Commentary

"We are extremely pleased to have acquired yet another land package that lies in a metal endowed greenstone belt of Central Newfoundland that has seen very little systematic exploration. This property not only has the potential to host important Exploits Subzone orogenic gold mineralization but also copper-rich massive sulphides that contain gold "said Karin Rayani, Chief Executive Officer of Falcon Gold Corp. "We look forward to performing a high resolution airborne magnetic and electromagnetic survey over our entire property position and integrating mineralization trends and historical results to vector exploration efforts to those areas of high merit."

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Great Burnt property claim group particularly regarding historical exploration, neighbouring companies, and government geological work.

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 of 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 7 additional projects. The Camping Lake Gold property and 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 Hope Brook and Baie Verte Brompton Line acquisitions adjacent to First Mining, Sokoman-Benton'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.

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/663270/Falcon-Gold-Acquires-Ground-in-Great-Burnt-Copper-Gold-Region-Central-Newfoundland-Belt

News Provided by ACCESSWIRE via QuoteMedia

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

Falcon Gold


Keep reading...Show less
atico

Atico Mining


Keep reading...Show less
American West Metals

Assays Confirm Thick Intervals Of Copper Sulphide As 100% Hit Rate Continues At The Storm Copper Project, Canada

American West Metals Limited (American West or the Company) (ASX: AW1 | OTCQB: AWMLF) is pleased to provide an update on drilling and geophysical activities at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut.

Keep reading...Show less
magin torres

Los Andes Copper


Keep reading...Show less
natural copper ore

Copper Refining: From Ore to Market (Updated 2023)

Mined rock typically contains less than 1 percent copper. That means to become a market-ready copper product, it must undergo a variety of physical and chemical processing steps.

After copper metal is mined by a company, the first major step in copper refining is concentration. This crucial process, which is generally conducted at or very near mine locations to save on transportation costs, involves grinding mined ore to roughly separate copper from waste rock.

The copper is concentrated further by slurrying the ground ore with water and chemical reagents. In this process, air is blown through the mixture, and the copper floats to the top. The copper is then removed with a skimmer. At the end of this step, copper ore concentrate levels are typically between 24 and 40 percent.

Keep reading...Show less
Cyprium Metals

Cyprium Metals Ltd Appointment of Experienced Industry Executives

Perth, Australia (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) advises the following appointment of experienced industry executives

Appointment of Experienced Industry Executives

Cyprium has, with immediate effect, appointed two experienced industry executives, Clive Donner and Milan Jerkovic, to work with the current management team and board. The refreshed team will review, optimise and recommend the best path to fund and execute the agreed development plan for the Nifty project.

Clive Donner is an experienced mining private equity and financing expert, who has been engaged to lead the Company's focus on corporate development and capital raising initiatives for the board. Mr Donner's initial role will be to assist the Company source and execute the capital financing for the current development plan and thereafter, review the optimum longer term development pathway to commercialise the full potential of the Nifty project. Mr Donner will focus on reviewing the capital intensity, timing and risk factors of the various longer term development alternatives.

Milan Jerkovic is an experienced mining veteran who will assist in the execution of the development plan for Nifty and provide leadership input to the development team in the Company. Mr Jerkovic has previously built a number of mines, with substantial and relevant copper expertise.

It is anticipated that there will be further board and management changes once the capital financing has been secured. Barry Cahill will resign from the board and remain in a technical development role. Clive Donner and Milan Jerkovic will continue as executives of the Company on a full-time basis.

Cyprium's Chairman, Gary Comb said:

"The Company has a high-quality portfolio of late-stage Australian based copper projects, with mineral resources of over 1.6 million tonnes of contain copper.

It is with pleasure that we announce the appointments of Clive Donner and Milan Jerkovic to the executive team of Cyprium. Their financing experience and knowledge will be of great benefit to optimise the development of Nifty and progress Cyprium's pipeline of development projects."

Nifty Copper Project

The Nifty development strategy includes the integration of a Copper Oxide Heap Leach SX-EW starter operation which will be complemented by the larger-scale sulphide open pit, which will together provide a significant +20-year mine life based on +900,000 tonne contained copper resource.

Cyprium has finalised a detailed Restart Study for the Oxide Heap Leach starter operation. The Company is nearing the completion of a scoping study which will lead into a detailed open pit life of mine study, which includes the large sulphide resource inventory.

Cyprium has substantial infrastructure already in place to treat both oxide and sulphide mineral inventory.

It is anticipated that the Oxide Heap Leach SX-EW will produce approximately 25,000 tpa of copper cathode for over 7 years and that the Sulphide Concentrator would produce between 28,000 tpa (2.8Mtpa at +1.0% copper) and 40,000 tpa (4.0 Mtpa at +1.0% copper) of copper in concentrate over 15 years. These assets would support a long mine life project in excess of 20 years.

Nifty's prospectivity is excellent and the mineral inventory is shallow and is open along strike in multiple directions and at depth, giving good potential to substantially increase the current resource endowment.

There continues to be strong interest from investors in Cyprium's medium and long-term strategy for the development of its portfolio of West Australian copper projects.



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

News Provided by ABN Newswire via QuoteMedia

[subscribe_company_profile use_post="101691698"]

Keep reading...Show less

Latest Press Releases

Related News

×