Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) announced it has acquired a land package totalling 13,700 hectares along the Baie Verte Brompton Line (BVBL) in Newfoundland after staking 548 claims.
The Baie Verte Peninsula, in the Central Newfoundland Gold Belt, currently hosts all of Newfoundland's gold production. Producing mines include Anaconda Mining Inc (TSX:ANX).’s Point Rousse gold mine and Rambler Metals Mining operations. Former producing mines include the Terra Nova Mine, and deposits of the Rambler Mining Camp.
There are more than 100 gold prospects and zones, many of which are orogenic-style, related to major splays and related second-order structures linked to the BVBL. Falcon has acquired ground over a 50 kilometre corridor along the line.
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Falcon said its new land package lies within a major continental-scale structural corridor with occurrences of gold, base metals, platinum group elements (PGEs) and vanadium.
“The Baie Verte Brompton Line is home to some of Newfoundland's largest defined gold deposits,” CEO Karim Rayani said in a statement.
“Falcon's ground is contiguous with Marvel Discovery, giving us a strong foothold in the area. We look forward to initiating high-resolution magnetic surveys over our entire property position and integrating mineralization trends and historical results to vector exploration efforts to those areas of high merit,” he added.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas.
Its flagship project, the Central Canada Gold Mine, is approximately 20 kilometres south east of Agnico Eagle's Hammond Reef Gold Deposit. The company holds six additional projects.
Contact the author at stephen.gunnion@proactiveinvestors.com