Falcon Commences Drilling At Its Great Burnt Copper Project, NL

Rhea-AI Summary

Falcon Gold Corp. (TSXV:FG, OTCQB:FGLDF) has commenced drilling at its Great Burnt Copper Project in Central Newfoundland. The company has completed 8km of additional road to the drill site. Falcon holds 2,275 hectares in the Great Burnt camp, adjacent to Benton Resources Inc. - Homeland Nickel's joint venture property. The area is known for its copper and gold potential, with Benton recently reporting drill results of 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres. Falcon plans to initially test ten geophysical anomalies and may extend the program pending government approvals. The Great Burnt Greenstone Belt hosts several copper-gold zones along a 14 km mineralized corridor, with a conductive trend extending into Falcon's property.

Positive

• Commencement of drilling at the Great Burnt Copper Project
• Strategic location adjacent to Benton Resources' successful drilling area
• Potential for high-grade copper mineralization based on nearby results
• Control of the northern extension of a promising magnetic feature
• Initial testing of ten geophysical anomalies with potential for program extension

Negative

• Pending government approvals required for program extension
• Early stage of exploration with no defined resources on Falcon's property yet

VANCOUVER, BC / ACCESSWIRE / September 18, 2024 / Falcon Gold Corp.(TSXV:FG)(3FA:GR)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report drilling has commenced at our Great Burnt Copper Project (the "Property") located in Central Newfoundland. The Company has completed 8kms of additional road to the drill site from the government access road which we share Benton Resources.

Karim Rayani, Chief Executive Officer and director stated: "We are excited to have our inaugural drill campaign underway at our Great Burnt Project. The magnetic signature suggests that Falcon controls the northern extension of the same magnetic feature that Benton Resources has had recent success in drilling and sampling. We will be initially testing ten geophysical anomalies and will plan to extend the program once we receive the necessary government approvals."

The Great Burnt Copper Property

Falcon holds 2,275 hectares in the Great Burnt camp, with licenses located north of, and contiguous to, Benton Resources Inc. - Homeland Nickel (previously known as Spruce Ridge Resources Ltd.) Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. ("Benton") optioned the Great Burnt Copper-Gold Project from Spruce Ridge Resources Ltd. (now known as Homeland Nickel) in an agreement that allowed Benton to earn a 70% interest in the property (see press release dated July 17, 2024). The Benton property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu (Benton option - Homeland Nickel). Recent drilling by Benton at the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres (see press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge reported 8.06% Cu over 27.2 m (see press release dated March 18, 2021).

The Great Burnt Greenstone Belt is prospective for copper and gold and further hosts the South Pond A and South Pond B copper-gold zones and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see right-hand-side image in Figure 1).

Figure 1. Drill Target Location Map at Great Burnt Copper Project with Falcon Claims in Red and Benton - Homeland Nickel (previously Spruce Ridge) Great Burnt Copper-Gold joint venture in Green.

Figure 2. Great Burnt Copper Project area with Falcon claims in orange and Benton - Homeland Nickel (previously Spruce Ridge) Great Burnt Copper-Gold joint venture in blue. New claims cover conductive trends hosting copper and gold mineralization.

Qualified Person

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

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 currently has an 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 Viernes Gold/Silver/Copper project in the world-class copper cluster located 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; the Spitfire-Sunny Boy, claims in B.C.; the Great Burnt Copper Project, and Golden Brook projects in Central Newfoundland, adjacent to First Mining, Matador, Benton-Sokoman-Piedmont JV; and most recently battery metals projects, Timmins West Nickel-Copper-Cobalt Property Ontario, Outarde Nickel-Copper-Cobalt Property, HSP Nickel-Copper property in northern Quebec and the Havre St. Pierre Anorthosite Complex respectively.

Falcon Gold Corp.

"Karim Rayani"

CONTACT INFORMATION:

Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca

CHF Capital Markets
Cathy Hume
Telephone: (416) 868-1079 x 251
Email: cathy@chfir.com

Website: www.falcongold.ca
Twitter: @FalconGoldCorp
Facebook: @FalconGoldCorp
LinkedIn: @FalconGoldCorp
Instagram: @FalconGoldCorp

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.

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.

SOURCE: Falcon Gold Corp.

View the original press release on accesswire.com

FAQ

What is the size of Falcon Gold's (FGLDF) Great Burnt Copper Project?

Falcon Gold Corp. holds 2,275 hectares in the Great Burnt camp in Central Newfoundland.

When did Falcon Gold (FGLDF) start drilling at the Great Burnt Copper Project?

Falcon Gold Corp. commenced drilling at the Great Burnt Copper Project on September 18, 2024.

How many geophysical anomalies is Falcon Gold (FGLDF) initially testing at Great Burnt?

Falcon Gold Corp. is initially testing ten geophysical anomalies at the Great Burnt Copper Project.

What were the recent drilling results near Falcon Gold's (FGLDF) Great Burnt property?

Nearby drilling by Benton Resources reported 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres.