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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Falcon Gold Corp    FG   CA3060442074

FALCON GOLD CORP

(FG)
Delayed Quote. Delayed TSX VENTURE EXCHANGE - 09/17 01:04:28 pm
0.045 CAD   +12.50%
09/09Falcon Completes Initial Exploration, Expands Land Package on Wabunk Property, Red Lake Ontario
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08/26FALCON GOLD : Grants Options
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08/23Falcon Grants Options
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Falcon Commences Exploration on Wabunk Bay Property, Red Lake Ontario

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08/22/2019 | 09:05am EDT

Vancouver, British Columbia--(Newsfile Corp. - August 22, 2019) - FALCON GOLD CORP. (TSXV: FG) ("Falcon" or the "Company") reports it has commenced an exploration sampling program on its Wabunk Bay gold and base metal property located in the Red Lake District of northwestern Ontario.

The claims cover an area of approximately 304 hectares and are contained within the Birch-Uchi-Confederation Lakes greenstone belt which hosts the world-renowned Red Lake gold deposits as well as Great Bear Resources' Dixie project. The Wabunk property appears to be hosted within a similar geological structure to the Dixie lake project.

Several small gold mines were developed in this greenstone belt during the 1930s, including the Uchi Mine, which produced 114,000 ounces of gold. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc.

The objective of this initial program is to follow-up on historical trenching and drilling activity and entails prospecting and sampling showings that historically have produced encouraging surface and drill core assay values. General prospecting and sampling of the favourable geological host rock will be initiated and traced away from the mineralized trenches.

The property has potential for gold in the greenstone volcanic rocks which host the past producing Uchi Mine located approximately 2 km to the west; and base metals with anomalous cobalt and precious metals found with copper and nickel mineralization in the gabbro. The correlation between the base metal mineralization and previously completed airborne magnetics will also be evaluated during the site visit. The Wabunk area was covered by an airborne geophysical survey completed by a previous operator in 2003 that identified two magnetic and conductive anomalies.

Qualified Person

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

Coomer Lake, Ontario Claims

Falcon reports that it has dropped its interest in the Coomer Lake, Ontario Vanadium-Titanium claims and will not proceed with the previously announced option agreement.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Its Canadian projects include: the Central Canada gold and copper projects in Atikokan, Ontario, the Wabunk Bay gold, base metal project in Red Lake, Ontario and an interest in the Burton gold property located near Sudbury, Ontario. Falcon also has an agreement to acquire the Esperanza gold, copper project located within the Sierra de Las Minas District, Argentina.

CONTACT INFORMATION:

Falcon Gold Corp.
Karim Rayani
CEO & Director

Telephone: 604-683-1991
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47149


© Newsfilecorp 2019
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Managers
NameTitle
Stephen J. Wilkinson President, Chief Executive Officer & Director
David Geophry Tafel Non-Executive Chairman
Brian Crawford Chief Financial Officer & Director
James Farley Independent Director
Kenneth A. Cawkell Secretary
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