Falcon Creates Argentine Company - Falcon Gold Latamarg S.A. to Manage South American Exploration

Rhea-AI Summary

Falcon Gold Corp. has established Falcon Gold LatamARG S.A. to oversee operations at its newly acquired Esperanza project in Argentina. Country manager Juan Carlos Navas Diaz, with 25 years of experience, will lead the local team. The company seeks to streamline operations and prepare for initial exploration phases. Falcon's flagship project, the Central Canada Gold Mine, is strategically located near significant gold deposits, with historical mining yielding notable gold grades.

Positive

• Creation of Falcon Gold LatamARG S.A. to enhance operational efficiency in Argentina.
• Appointment of an experienced local manager, Juan Carlos Navas Diaz, to lead on-site activities.
• Focus on initiating exploration at the Esperanza project in the near term.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 27, 2021 / FALCON GOLD CORP. (TSXV:FG)(GR:3FA)(OTC PINKS:FGLDF); ("Falcon" or the "Company") creates Falcon Gold LatamARG S.A. ("LatamARG") to manage the day to day operations and have a direct presence on the ground on the newly acquired Esperanza project in Argentina. LatamARG will be headed by country manager Mr. Juan Carlos Navas Diaz, a Venezuelan citizen with permanent residence in Argentina.

Mr. Navas is a senior executive with over 25 years of experience in corporate finance, management and operations in mining, and energy. Mr. Navas was a Country Manager Argentina in CruzSur Energy & President of Alianza Petrolera Argentina S.A.; currently also Mr. Navas is responsible for the claim for mining rights of Chicanan East, West and El Callao, located in Bolívar state in Venezuela, property of Venezuelan companies handled by Grupo ValGold de Venezuela C.A. and Grupo Global Horizon C. A., where Mr. Navas is President and Founding Director since 2006. He was a Founding Director and VP of Administration & Finance of the Group: Bolívar Gold, Gran Colombia Resources, Antill Invest House, Geo Expert and Campos de Oro C.A. Other positions held by Mr. Navas include the International Marketing Manager at Antill Invest House & Skalar Analytical BV, National Marketing Coordinator at Industrias Ventane C.A. - Vengas Group, now PDVSA Gas, and Banking Agencies Coordinator in Maracay Entidad de Ahorro y Préstamo - BANAP.

Mr. Navas is a graduate of the UCV in Statistics and Actuarial Sciences, Public Accounting and has a Master's in Business Administration (Honors).

Mr. Karim Rayani, Falcon's Chief Executive Officer, commented, "I'm pleased to welcome Mr. Navas to the Falcon Team. Having a local presence in Argentina will help streamline operations as we prepare the necessary permitting to begin our first phase of exploration in the coming weeks."

About Falcon Gold Corp., the Central Canada Gold Mine Project, and Jack Lake Trend

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 south east 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.

History of Central Canada gold mine includes;

1901 to 1907 - Shaft constructed to a depth of 12 m and 27 oz of gold from 18 tons using a stamp mill.

1930 to 1934 - Central Canada Mines Ltd. installed a 75 ton per day gold mill. Development work included 1,829 m of drilling and a vertical shaft to a depth of 45 m with about 42 m of crosscuts and drifts on the 100-foot level. In December, 1934 the mine had reportedly outlined approximately 230,000 ounces of gold with an average grade of 9.9 g/t Au.

1935 - With the on-going financial crisis of the Great Depression, the Central Canada Mines was unable to fund operations and the mine ceased operations.

1965 - Anjamin Mines completed diamond drilling and in hole S2 returned a 2 ft section of 37.0 g/t Au and hole S3 assayed 44.0 g/t Au across 7 ft.

1985 - Interquest Resources Corp. drilled 13 diamond holes totaling 1,840 m in which a 3.8 ft intersection showed 30.0 g/t Au.

2010 to 2012 - TerraX Minerals Inc. conducted programs that included line cutting, geological surveys and 363 m of drilling.

2020 - Falcon Gold Corp. completed its inaugural 17-hole program totaling 2,942.5 m of core.

The Company holds 5 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 near Sudbury Ontario; and in BC, the Spitfire-Sunny Boy Gold Claims and the Gaspard property.

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/642506/Falcon-Creates-Argentine-Company--Falcon-Gold-Latamarg-SA-to-Manage-South-American-Exploration

FAQ

What is the purpose of Falcon Gold LatamARG S.A.?

Falcon Gold LatamARG S.A. has been created to manage day-to-day operations and enhance Falcon Gold Corp.'s presence in Argentina, specifically for the Esperanza project.

Who is leading Falcon Gold LatamARG in Argentina?

Juan Carlos Navas Diaz, an executive with over 25 years of experience in mining and energy, will be the country manager for Falcon Gold LatamARG.

What are the plans for the Esperanza project in Argentina?

Falcon Gold Corp. is preparing for the necessary permitting to begin its first phase of exploration at the Esperanza project shortly.

What is Falcon Gold Corp.'s flagship project?

Falcon Gold Corp.'s flagship project is the Central Canada Gold Mine, located near significant gold deposits with a history of substantial gold yields.

How will local management impact Falcon Gold's operations in Argentina?

The local management, led by Juan Carlos Navas Diaz, is expected to streamline operations and facilitate timely exploration efforts.