Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) told investors it has scheduled a Phase III drill program on the Central Canada Gold Project in the Atikokan mining camp of northwestern Ontario for March, 2022.
The company noted that it has completed 26 diamond drill holes totaling 4,058 metres (m) at the project since 2020. Phase III is planned to comprise three holes totaling approximately 1,000 metres (m) and will target the JJ Walshe Zone (Central Canada Mine Trend- CCMT) at vertical depths between 200m and 300m to extend the gold-bearing zones beyond the current drilled depth of 160m.
“We are excited to finally test the historic Central Canada Mine Zone to a new target depth between 300-400m, not previously done by past operators,” the company’s CEO Karim Rayani said in a statement.
“Falcon has been successful in intersecting four parallel zones along the CCMT and we are looking forward to testing these zones at greater depth below the old workings. Broad mineralization containing high-grade domains have been intersected at the CCMT from Falcon's past drilling campaigns."
READ: Falcon Gold says results from the 2022 field program on the Gaspard Gold Claims shows heavy mineral concentrates from three creek drainages
Falcon noted that highlights from the previous programs at the JJ Walshe Zone include 1.35 grams per ton (g/t) gold over 4.1m starting at 59.5m downhole in hole CC20-15 and 1.57 g/t gold over 14.8m starting at 89.6m downhole in CC20-12.
Additionally, the interval contained visible gold which assayed 20.50 g/t gold over 0.3m. Hole CC20-12 also contained 10.8 g/t gold over 0.3m starting at 112.4m downhole.
The Central Canada Mine Trend has now been traced for 275m in strike length and to a depth of 160m, Falcon added.
Falcon Gold's flagship Central Canada Gold Mine is 20 kilometres 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 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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