Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) has acquired more ground in central Newfoundland, staking 91 claims for 2,275 hectares (Ha) in the Great Burnt greenstone belt, which is rich in base metals.
The move comes after the exploration firm said in August this year that it had acquired 13,700 hectares along the Baie Verte Brompton Line (BVBL) in Newfoundland after staking 548 claims.
The Great Burnt belt hosts the so-called Great Burnt Copper Zone, which has an indicated resource of 381,300 tonnes at 2.68% copper and inferred resources of 663,100 tonnes at 2.10% copper.
READ: Falcon acquires ground along Central Newfoundland’s Baie Verte Brompton Line, contiguous with Marvel Discovery
"We are extremely pleased to have acquired yet another land package that lies in a metal endowed greenstone belt of Central Newfoundland that has seen very little systematic exploration," said Karim Rayani, CEO of Falcon Gold.
"This property not only has the potential to host important Exploits Subzone orogenic gold mineralization but also copper-rich massive sulphides that contain gold.
"We look forward to performing a high resolution airborne magnetic and electromagnetic survey over our entire property position and integrating mineralization trends and historical results to vector exploration efforts to those areas of high merit."
Drilling at the new property by Spruce Ridge Resources (TSX-V:SHL) last year reported 8.06% copper over 27.2 meters (m), while the Great Burnt greenstone belt also hosts the South Pond A and B copper-gold zones and the End Zone copper prospect
The property also sits 4km west of the Crest Resources-Exploits Discovery joint venture project within the Exploits Subzone.
The Exploits Subzone contains deep seated gold-bearing structures of the Dog Bay-Appleton Fault-GRUB Line deformation corridor that contains the high-grade Keats Gold Zone of New Found Gold.
Falcon is a Canadian mineral exploration company focused on the Americas.
Its flagship project, the Central Canada Gold Mine, is around 20 kilometers southeast of Agnico Eagle's Hammond Reef Gold deposit. The company holds six additional projects.
Contact the author at giles@proactiveinvestors.com