Falcon acquires the Victoria West project


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VANCOUVER, BC /ACCESSWIRE/April 7, 2022/ FALCON GOLD CORP. (TSX.V:FG), (GR:3FA), (OTCQB:FGLDF); (“Falcon” or the “Company”) is pleased to announce that it has acquired, by staking, additional land west of Valentine Lake. This new land position called Victoria West (the “Property”) comprises 166 claims (4,150 hectares) and is contiguous to Marvel Discovery Corp, Benton Resources, Buchans Minerals Corp. and a significant body of land staked by Shawn Ryan. The property is located 40 kilometers (km) west of the Valentine gold deposit and 65 km southwest of the town of Buchans. The Valentine gold deposit which contains 6.8 million ounces of gold (Moz. Au) (all categories) and is currently under development (https://marathon-gold.com/valentine-gold-project/). Falcon has immediate plans to begin high-resolution magnetic surveys upon approval of exploration permits.

In early 2011, Buchans Minerals and Benton Resources completed prospecting activities in the immediate area which identified abundant mineralized quartz veins containing multi-percent trace sulphides. The analytical results of the grab samples assayed between 1.65 and 18.24 g/t Au and between 5.4 and 87.1 g/t Ag in the sub-outcrop samples. Grab samples from outcrops assayed up to 8.52 g/t Au and 30.7 g/t Ag. (Grab samples are grab samples and are not necessarily representative of the mineralization hosted on the property). Of considerable interest in this immediate area are the floating samples consisting of angular blocks that assayed up to 106.4 g/t Au and 364.3 g/t Ag. It does not appear that any of the follow-up work in this area could not determine the source of this high grade sample.

Figure 1. Regional location of Falcon’s Victoria West Gold property.

Falcon CEO Karim Rayani commented: “Falcon could not ignore the high-grade Au-Ag results from the Buchans-Benton prospecting program in 2011 and is intrigued that the high-grade gold sample lies within 2.4 km of the boundary. of our claim and the source of this rock.does not appear to have ever been found Our internal studies suggest that in this immediate area the structural controls on mineralization are poorly understood and we aim to survey the entire area with magnetic surveys at high resolution to follow with structural and target generation litho-studies.”

West Victoria Property

Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones in the central Newfoundland gold belt. These major fault zones include the Baie Verte-Brompton line, the Cape Ray fault zone, the Red Indian line, and the Lake Victoria shear zone (Figure 2). The largest known gold deposit in Newfoundland is at Valentine Lake (Marathon Gold Corp.), in the footwall of the Lake Victoria Shear Zone. To date, Marathon Gold has discovered five deposits along a 20 km trend and together they represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. At. The Matador Mining Cape Ray deposit, which contains 837,000 ounces, is also notable in the region. of Au (https://matadormining.com.au/cape-ray/). Recent structural interpretations of regional scale geophysical surveys have led Falcon Gold to stake this land package due to numerous interpreted oblique trends and Tertiary flare zones which are considered highly prospective for gold mineralization.

Figure 2. Location of Falcon Gold’s Valentine South property between the Valentine structural corridor and the BVBL-Cabot fault.

Qualified person

Mr. Mike Kilbourne, P. Geo, an Independent Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical content of this press release on behalf of the Company. The qualified person has not done enough work to verify the historical information about the property.

About Falcon Gold Corp.

Falcon is a Canadian mining exploration company focused on generating, acquiring and exploring opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, lies approximately 20 km southeast of Agnico Eagle’s Hammond Reef gold deposit, which currently contains an estimated 3.32 million ounces of mineral reserves. gold (123.5 million tonnes grading 0.84 g/t gold) and 2.3 million ounces of measured mineral reserves. and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef Gold Property sits on the Hammond Shear Zone, which is a northeast trending flare off the Quetico Fault Zone (“QFZ”) and may be the control of the gold deposit. The Central Gold Property sits on a similar major northeast trending flare of the QFZ.

The Company has 8 additional projects. The Esperanza Gold/Silver/Copper mining concessions located in the province of La Rioja, Argentina. The Springpole West property in the world famous Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in British Columbia, the Spitfire-Sunny Boy, Gaspard Gold concessions; and most recently the acquisitions of Great Burnt, Hope Brook and Baie Verte adjacent to First Mining, Matador, Benton-Sokoman’s JV and Marvel Discovery in central Newfoundland.

CONTACT INFORMATION:
Falcon Gold Corp.
Karim Rayani”
Karim Rayani
Chairman and Chief Executive Officer, Director
Phone: (604) 716-0551
Email: [email protected]

Cautionary and Forward-Looking Statements

This press 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 title deeds, etc. Forward-looking statements relate to future events and conditions and, therefore, involve inherent risks and uncertainties. . Actual results may differ materially from those currently anticipated in these statements.

This press 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 title deeds, etc. Forward-looking statements relate to future events and conditions and, therefore, involve inherent risks and uncertainties. . Actual results may differ materially from those currently anticipated in these statements.

Neither the 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.

THE SOURCE: Falcon Gold Corporation

See the source version on accesswire.com:
https://www.accesswire.com/696476/Falcon-Acquires-Victoria-West-Project–Contiguous-to-Marvel-Discovery-Benton-Resources

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