Falcon Gold Corp (CVE:FG) (OTCPINK:FGLDF) has announced preliminary results for drill holes CC 20-10, CC20-11 and the upper half of CC20-12 from the company’s Central Canada gold mine project in northern Ontario, which included a visible gold sample that assayed 20.5 grams per tonne (g/t) gold over 0.3 metres (m).
The company noted that the three holes reported penetrated the Central Canada main mine trend with gold mineralized intersections, with the balance of CC20-12 as well as the analyses for the final five holes of the program pending.
“Our drill program is continuing to expand the potential of the Central Canada gold mine. The results from Falcon's fall drilling gives us more than encouragement that the historic gold resources of this mine were as advertised back in 1934,” Falcon Gold CEO Karim Rayani said in a statement.
READ: Falcon Gold sees potential for mineable deposit at Central Canada gold mine asset following drilling
He added: “We have a substantial number of samples pending analysis and look forward to reporting on our findings as soon as the results are available.”
As well, Falcon Gold said hole CC20-12 returned 5.68 g/t gold in the first meter of core within the main zone intersections with a weighted average grade of 1.57 g/t over a 14.8m core length zone.
The company added that 264 core samples have currently been submitted for analyses and it expects about 250 more samples will be taken from the last three drill holes core.
Falcon Gold’s flagship Central Canada gold mine project lies 160 kilometres (km) west of Thunder Bay, Ontario, and has a 230,000 ounce - at 9.9 g/t gold - historic resource, which the company is bringing up to NI-43 101 standards.
The project sits about 20 km south-east of Agnico Eagle’s Hammond Reef Gold deposit, which boasts a measured and indicated (M&I) resource of 4.5 million ounces of gold.
The Central Canada asset spans over 10,000 hectares and covers a historic producer with shaft and mill. It also hosts the historic Staines copper and cobalt occurrence, which has a reported drill intersection of 0.64% copper, 0.15% cobalt, 1.1% zinc and 0.35 g/t gold over a true width of 40 m.
Contact Sean at sean@proactiveinvestors.com