FG: TSX-V
3FA: GR
FGLDF: OTCQB
VANCOUVER, BC, Aug. 11, 2021 /CNW/ - FALCON GOLD
CORP. (TSXV: FG), (GR: 3FA), (OTCQB: FGLDF); ("Falcon"
or the "Company") is pleased to announce it has commenced field
work on its Gaspard Gold Project (the 'Property') near Spences Bridge, BC. The Gaspard property is
comprised of 3 mineral claims, covering 3,955 hectares in the
Clinton Mining District of central British Columbia (Figure 1). The Property
covers similar geology to the Spences Bridge Gold Belt (the "SBGB")
that hosts Westhaven Gold Corp.'s (TSXV:WHN) Shovelnose gold
project and the Blackdome Zone gold-silver deposit owned by Tempus
Resources (ASX:TMR).
The company will be conducting prospecting, field reconnaissance
mapping and sampling. The objective of the exploration program will
be to delineate and constrain the styles of gold mineralization and
assess the geological setting. Historical exploration programs
reported anomalous heavy mineral concentrate stream sediments
returning grades from 94 ppb Au to 5,910 ppb Au within four
adjacent streams, defining a continuous gold anomaly over an
upstream distance of 1.8 kilometers ("km"). Follow-up
B-horizon soil sampling across the headwaters of the four streams
supported the stream sediment sampling results with a gold-in-soil
anomalies over a corridor covering 1 km long with values from trace
to 1127 ppb Au. Much of the claims to the southeast remain to be
tested.
The Property has year-round, all-season road access with a good
network of active logging roads. The City
of Williams Lake located 60 kilometres northeast of the
Property is a regional supply centre for mining, logging and
ranching.
The Spences Bridge Gold Belt
The SBGB forms a northwest trending belt of Cretaceous-aged,
volcaniclastic and sedimentary rocks 430 km long and up to 24 km
wide extending in central BC (Figure 2). The relatively
underexplored volcanic rocks are highly prospective for
low-sulphidation epithermal gold mineralization. Recent drilling on
the Shovelnose Gold Project by Westhaven Gold Corp. reported 614
g/t Au and 2,070 g/t Ag over 0.45
m within 41.55m of 8.17
g/t Au and 34.64 g/t Ag (see press Westhaven press release dated
June 1, 2021). The Blackdome Zone
located 26km to the south was a former mine having produced
225,000 of gold at an average grade of 20 g/t Au. Current
43-101 compliant resources completed by SRK in 2010 report 144,500
tonnes Indicated grading 11.29 g/t gold and 50.01 g/t silver, and
90,600 tonnes Inferred grading 8.79 g/t gold and 18.61 g/t silver,
Tempus Resources.
Commentary
Mr. Karim Rayani, Falcon's
Chief Executive Officer, commented, "We are excited to
initiate boots on the ground sampling and mapping at the Gaspard
Gold Project. The SBGB is a highly prospective, underexplored gold
belt that has proven to host high-grade gold and silver veins.
Historical stream and soil sediment sampling has highlighted a
large anomalous area that warrants follow-up. We look forward to
receiving the results of this highly anticipated exploration
program."
Qualified Person
The technical content of this news release has been reviewed and
approved by Mike Kilbourne, P.Geo.,
who is a Qualified Person as defined by National Instrument 43-101,
Standards of Disclosure for Mineral Projects.
The QP and the Company has not completed sufficient work to
verify the historic information on the properties comprising the
Shaw Gold Property, particularly regarding historical exploration,
neighbouring companies, and government geological work.
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 south east of Agnico Eagle's Hammond
Reef Gold Deposit.
The Company holds 6 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 with Iamgold near
Sudbury Ontario; and in B.C., the
Spitfire-Sunny Boy, Gaspard Gold
claims; and most recently the Hope Brook acquisition adjacent to
First Mining, Sokoman-Benton's JV in Newfoundland.
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.
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SOURCE Falcon Gold Corp.