Falcon Gold Corp. [FG-TSXV; FGLDF-OTCQB; 3FA-GR] reported exploration has commenced at 100%-owned Gander North property, Newfoundland, with initial results now available from its reconnaissance exploration program.
The project commenced in late June, with initial prospecting and till sampling. Preliminary efforts have identified numerous evidence for quartz veins, including subcrop and float. Surface samples collected to date have been submitted for assay; and initial results have returned values of up to 885 ppb gold from sub cropping quartz veins, up to 0.15% copper, and up to 26.8 g/t silver from quartz float.
Several samples have returned anomalous tungsten, and further analysis is required to confirm the content. Multiple geophysical targets were identified over the project area earlier this year through review of publicly available datasets, and these will be the focus of ongoing reconnaissance. Detailed work, including systematic sampling and geological mapping will commence this fall to better define targets in advance of drilling. Work permit applications have been submitted for the drill program, and approval is pending.
Karim Rayani, CEO, commented, “Excellent progress is being made at our Gander North project, preliminary results are more than just encouraging with surface samples as high as 885 ppb gold. We now have multiple geophysical targets to go after that have been identified – with the help of publicly available data sets, we have now submitted our drill plan application and are awaiting final approval for our inaugural drill campaign. This is an opportunistic time for Falcon, as we have set ourselves apart from our peers. We control a sizeable area of influence totaling 108,000 hectares when combining this with our JV partner Marvel Discovery at Baie Verte and Golden Brook the number jumps to 150,000 hectares making us one of the dominant players on the island. We look forward to reporting back on the remaining sample results with the drill permit news when received.”
The Gander North Property is comprised of 406 claims within two blocks covering 10,150 hectares, and is located in two blocks, one immediately south of Gander, Newfoundland, and the second block immediately east of the town. The property occurs within the Gander Zone and is proximal to the Dog Bay-Appleton-Grub fault system, a crustal scale zone that extends southwest from the north coast of Newfoundland for nearly 200 km to Gander. Structural corridors in central Newfoundland have shown to be intimately associated with recent gold discoveries including New Found Gold’s Queensway project located approximately 9 km from Falcon’s project.
The company holds 14 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; 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, Matador, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland.