Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) has reported results from the 2022 field program on the Gaspard Gold Claims located in central British Columbia showing heavy mineral concentrates from three creek drainages which assayed 0.236 grams per ton gold (g/t Au), 1.097 g/t Au and 0.525 g/t Au.
The company said the stream sediment samples were collected over 3 kilometres (km) southeast of previous and historical anomalous stream samples taken in 1990 from four parallel drainage patterns.
Total apparent length of a gold anomaly that would support an extensive drainage system at Gaspard is now 5 km in length, it added.
In a statement, Falcon Gold's chief executive officer, Karim Rayani commented: "We are excited about the results of the recent stream sampling program. With little cost and effort, we have potentially outlined a large gold source that is supplying 6 separate drainage systems. We look forward to the 2022 field season to actively pursue the source of these impressive results."
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The Gaspard Property comprises three mineral claims, covering 3,955 hectares in the Clinton Mining District of central British Columbia. The property covers similar geology to the Spences Bridge Gold Belt (SBGB) that hosts Westhaven Gold Corp's Shovelnose gold project and the Blackdome Zone gold-silver deposit owned by Tempus Resources and it has year-round, all-season road access with a good network of active logging roads.
The SBGB forms a northwest-trending belt of Cretaceous-aged, volcaniclastic and sedimentary rocks 430 km long and up to 24 km wide extending in central British Columbia. The relatively underexplored volcanic rocks are highly prospective for low-sulphidation epithermal gold mineralization.
Recent drilling on the Shovelnose Gold Project by Westhaven Gold reported 614 g/t Au and 2,070 g/t silver (Ag) over 0.45 metres (m) within 41.55m of 8.17 g/t Au and 34.64 g/t Ag.
The Blackdome Zone located 26 km to the south was a former mine having produced 225,000 of gold at an average grade of 20 g/t Au. Current 43-101 compliant resources completed by SRK in 2010 report 144,500 tonnes Indicated grading 11.29 g/t gold and 50.01 g/t silver, and 90,600 tonnes Inferred grading 8.79 g/t gold and 18.61 g/t silver, according to Tempus Resources.
Falcon Gold's flagship project, the Central Canada Gold Mine, is approximately 20 km 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 g/t Au mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold).
The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone (QFZ) and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
Falcon Gold holds eight additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in British Columbia, the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
Contact the author at jon.hopkins@proactiveinvestors.com