Falcon Gold Corp (CVE:FG) (OTCPINK:FGLDF) (FRA:3FA) has updated on the fall drilling program at its flagship Central Canada gold mine project in Ontario, saying the results have indicated the potential for a mineable deposit at the historic mine site.
From its two drill campaigns in 2020, Falcon sank 17 holes for 2,942.5 metres (m) of core and has shipped 780 samples for analyses and assays. It said assays from two holes included one which hit the central Canada main mine trend from 30.6m to 41.7m and intersected secondary gold-bearing zones at between 61.7m and 63.6m, 96m and 101m, it highlighted
READ: Falcon Gold reports “visible gold” in latest drill results from its Central Canada Gold mine in Ontario.
Falcon said it has now traced the Central Canada gold mineralization from surface to a vertical depth of more than 161m and the zone remains strong and open to continue beyond that depth.
"These first results from Falcon's fall drill program have delivered more evidence for a mineable deposit at this historic mine site," said Karim Rayani, Falcon's CEO in a statement.
"With our geologists developing an understanding of the gold mineralization styles from repeated drilling of the zones, Falcon can better proceed with its plans to define an economic gold resource. We have already submitted hundreds of samples for analyses and will have many more assays to come. Our shareholders can expect to have more news on the developments on our Central Canada mine project over the coming weeks."
The Central Canada project spans over 10,000 hectares and covers a historic producer with shaft and mill. It hosts a 230,000 ounce - at 9.9 grams per ton (g/t) gold - historic resource, which the firm is bringing up to NI-43 101 standards.
Falcon also holds the Camping Lake Gold property in the world-renowned Red Lake mining camp, Ontario; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; the Spitfire-Sunny Boy Gold Claims near Merritt, BC; and most recently, the Springpole West Property near Red Lake, Ontario.
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