Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) earlier this week provided an update on its Great Burnt project in Newfoundland, where the company is conducting a drill program in an emerging high-grade copper belt.
CEO Karim Rayani discussed the latest developments, including the release of high-resolution images of drill core samples.
The images, taken from drilling conducted in late 2024, show black shale and sulfide mineralization—features often associated with gold and copper. Rayani noted that delays in releasing these images were due to a change in drillers, which limited access to the core until recently.
Now, with drilling resumed, the company expects to report new results in the coming weeks.
Proactive: Welcome back inside our Proactive newsroom. Joining me now is Karim Rayani, CEO of Falcon Gold. Nice to see you again, Karim. How are you?
Karim Rayani: Steve, I'm doing fantastic.
Great to hear. The company has news about unveiling high-resolution photos of drill core samples from your ongoing program at Great Burnt. Tell me about this project and the purpose of this drill program.
Falcon Gold holds a project called Great Burnt, located in what is quickly becoming one of Canada’s higher-grade copper belts. We’re in a prime position, with two successful companies on either side of us. To the north, First Atlantic has seen its share price climb from $0.05 to $0.30 on strong nickel results. To the south, Benton Resources is reporting world-class copper numbers.
We believe our system is an extension of what Benton is drilling. The images we just released were actually from late 2024. We had to switch drillers after only two holes were completed, which caused delays. People have been asking why we didn’t release these images earlier, and the answer is simple: we didn’t have access to the core until recently. It wasn’t cut or logged, so we couldn’t properly analyze it. Now, we’ve completed those steps and can show that we are in a mineralized system with black shale and sulfide mineralization, which is consistent with gold and copper.
These images aren’t assay results, but they do suggest you’re on the right track.
100%. We’re very excited. Our geological team, led by Vic French, who is well-known in Newfoundland, has been very impressed with what we’re seeing. His validation gives us confidence in the project.
Newfoundland and Labrador have been in the spotlight for mineral exploration. Your project is well positioned, and there’s significant activity across the region.
Absolutely. Labrador is more challenging terrain, while Newfoundland offers easier access. Our project is right off the highway, making it logistically simpler to work on. Given the success of neighboring projects and our due diligence, we believe we have one of the best opportunities in the area.
Quotes have been lightly edited for style and clarity