Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) told investors it has increased its land position at the Gaspard property in central British Columbia from 3,955 hectares to 7,969 hectares.
The explorer noted that the Gaspard property is in the Clinton Mining District near Spences Bridge. It covers similar geology to the Spences Bridge Gold Belt that hosts Westhaven Gold Corp's Shovelnose gold project and the Blackdome Zone gold-silver deposit owned by Tempus Resources. Year-round, all-season roads with a good network of active logging roads provide excellent access, it added.
Falcon said results from its 2022 field program, released on February 3, 2021, show heavy mineral concentrates from three creek drainages grading 0.236 grams per ton (g/t) gold, 1.097 g/t gold and 0.525 g/t gold.
READ: Falcon Gold says results from the 2022 field program on the Gaspard Gold Claims shows heavy mineral concentrates from three creek drainages
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. The total apparent length of a gold anomaly that would potentially support an extensive drainage system at Gaspard is now 5 km in length, the company added.
"We now have evidence that six separate drainage systems exist over a 5 km strike length,” CEO Karim Rayani said in a statement.
“The results from the heavy mineral concentrates combined with the four parallel drainage patterns further validate our thesis. The geology and host rock shares many characteristics to Westhaven's and Blackdome's deposits. We now control over 7,969 hectares in one of the last key areas in the Spences Bridge Camp known for low-sulfidation high grade."
Falcon noted that the Spences Bridge Gold Belt forms a northwest-trending belt of Cretaceous-aged, volcaniclastic and sedimentary rocks 430 km long and up to 24 km wide extending in central BC. The relatively underexplored volcanic rocks are highly prospective for low-sulphidation epithermal gold mineralization, it added.
Recent drilling on the Shovelnose gold project by Westhaven reported 614 g/t gold and 2,070 g/t silver over 0.45m within 41.55m of 8.17 g/t gold and 34.64 g/t silver.
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 gold. Falcon said current 43-101 compliant resources completed by leading international mining consultancy firm SRK in 2010 reported 144,500 tonnes indicated grading 11.29 g/t gold and 50.01 g/t silver, and 90,600 tons inferred grading 8.79 g/t gold and 18.61 g/t silver.
Falcon also announced it has also elected not to proceed with McCaul Hutchinson option agreement in Northern Ontario.
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon'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 gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold).
Contact the author at stephen.gunnion@proactiveinvestors.com