Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) has reported positive exploration results from its Spitfire-Sunny Boy gold project in British Columbia, which have underlined the potential for the presence of an epithermal gold system at the property.
The work included grab sampling and so-called backpack drilling (using a small portable drill) and was designed to test six subparallel vein structures, which had been identified at the project previously.
"The sampling and backpack drill program has been a success - this further validates the theory of an epithermal gold system by past operators with its high-grade nature," noted Falcon CEO Karim Rayani in a statement.
"We have identified multiple parallel gold-silver bearing vein structures over impressive strike lengths. We will continue to evaluate the property in preparation for an inaugural drilling program where historical drilling intersected 3.77 grams per tonne gold, 0.24 % copper, and 32.9 grams per tonne silver over 13.4 meters."
READ: Falcon Gold initiates preliminary geophysical interpretation for lithium potential on Hope Brook property in Newfoundland
Highlight results included a grab sample at the Master vein, which ranged from 1.09 grams per ton (g/t) gold to 168 g/t gold, 17.5 g/t silver and 0.7% copper. Also from the Master Vein was a grab sample of 24.8 g/t gold and 3.9 g/t silver.
Backpack drilling from surface also showed an intersection of 0.47 meters (m) at an impressive 68.7 g/t gold and 11.8 g/t silver. Meanwhile, a grab sample from Vein 3 reported 2.58 g/t gold and 1.2 g/t silver.
The Spitfire-Sunny Boy discovery has been referred to as an epithermal gold discovery by past operators and is hosted within the Quesnellia terrane. High grades were reported previously (124 to 127 g/t gold and 309 to 514 g/t silver) in quartz vein material from underground workings by Quilchena Mining and Development Company Ltd.
The gold mineralization and the geological setting of the project bears similarities to other projects in the region such as Prospect Valley and Shovelnose, currently being explored by Westhaven Ventures.
Americas-focused explorer Falcon says its flagship project is the Central Canada gold mine, which lies 20 kilometers (km)m southeast of Agnico Eagle's Hammond Reef gold deposit. The firm also holds eight additional projects.
Contact the author at giles@proactiveinvestors.com