Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) said crews have been mobilized to start exploration at its Hope Brook property in a joint venture with Marvel Discovery ahead of potential drilling planned for early 2023.
The alliance's combined land position in Newfoundland straddles both the eastern and western extents of recent land acquisitions by the Benton/Sokoman joint venture partnership, which has made headlines in the past year due to the discovery of the first high-grade discovery of lithium-bearing pegmatites at their Hope Brook project.
Falcon said the prospecting and till sampling about to be undertaken will verify the target structures and determine their mineralization potential.
"We're thrilled to have mobilized crews on multiple projects in Central Newfoundland," said Karim Rayani, CEO, in a statement.
"The Golden Brook is one of the most exciting prospects in our portfolio for battery metals in Central Newfoundland, being tied on to the Kraken Pegmatite Field adjacent to Benton-Sokoman's discovery ground.
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"We are completing an aggressive prospecting and till sampling program to verify the targeted areas and test the mineralized zones in advance of our next phase of exploration-drilling planned for early 2023."
A year ago, Falcon and Marvel formed a strategic partnership that combines both the Hope Brook and Baie Verte Brompton District properties covering a combined 115,170 hectares to be explored on a 50:50 basis.
The Hope Brook Property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of, or are proximal to, two major structures linked to several significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland.
The Hope Brook Gold mine was in production from 1987 to 1997, producing 752,163 ounces of gold.
Contact the writer at giles@proactiveinvestors.com