Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) said it has filed the necessary work permits to begin advancing its Hope Brook project in Newfoundland.
Additionally, the company also unveiled its exploration plans for the property which is strategically located contiguous to the Sokoman - Benton Joint Venture, Marvel, as well as Discovery and First Mining's property which is optioned to Big Ridge Exploration.
The recently filed initial permits will support the first phase of exploration which includes high resolution magnetic gradiometry surveys, a proven method to sort the structural complexities in geological terranes.
READ: Falcon Gold stakes more prospective ground in central Newfoundland
“The company will also be sending prospecting crews to the area to begin baseline prospecting to determine if the magnetic trends highlighted in regional government surveys are due to similar mineralized structures as those hosting the nearby Sokoman / Benton new Lithium discovery,” Falcon Gold said.
"Falcon and our sister company Marvel Discovery have made a lot of noise as of late not only in acquiring sizable land positions tied on to major structures but also following the structures to find what we believe are hidden gems that were overlooked and passed by,’ Karim Rayani Chief Executive Officer said in the statement.
Adding: “Sokoman and Benton's new Lithium discovery being less than a 1 km away is a testament to our business model."
Located within the central Newfoundland gold belt, Falcon's Hope Brook is described as a 24,900-hectare property hosted within the Exploits subzone of the region.
Aside from Hope Brook, Falcon's flagship project is the Central Canada Gold Mine, located 20 kilometers southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 grams per ton (g/t) gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold).
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