Falcon Gold Corp. reported the acquisition of 4,000 hectares of exploration claims pertinent to the Area 51 Project located in the Inca Del Oro mining district, Atacama Region, northern Chile. The Inca Del Oro mining district is situated along Chiles Paleocene age mineral belt, known to host multiple porphyry, skarn, and epithermal mineral deposits.

Some of the highlights of the Area 51 Project include: 100% owned exploration claims totaling 4,000 hectares, located approximately 80 km northeast of Copiap mining city and airport. The project benefits from road access, proximity to infrastructure, and existing mine operations as well as year-round working conditions. Multiple mining and exploration projects in the vicinity, including the Inca de Oro porphyry Cu-Mo-Au-Ag deposit (460 million tonnes grading 0.40% Cu, PanAust, 2012, S&P Global) and the Delirio deposit (17.4 million tonnes grading 0.47% Cu, 2021 Santiago Metals, S&P Global).

The Area 51 exploration claim group is surrounded by other exploration and mining companies including Freeport McMoran, Newmont, Solaris Resources, and Mirasol Resources. Potential for copper and gold mineralization evidenced by the occurrence of multiple historical mine workings exhibiting mineralization, hydrothermal alteration footprints over volcanic calderas and existence of active mining and exploration projects in the proximity of Area 51 Project. Historical exploration data collected by Newmont and Mirasol Resources suggest that prospective targets for copper and gold mineralization within the Inca del Oro Mining District are characterized by a correlation between surficial geochemical anomalies, intersection of northwest and northeast trending regional structures, and a magnetic-low geophysical response.

Such features are also present at Area 51 property where aerial magnetic survey indicates a magnetic-low at the center of the Area 51 property where NW and NE structural trends converge.