05:42:48 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Falco Resources Ltd
Symbol FPC
Shares Issued 94,698,357
Close 2015-05-11 C$ 0.495
Market Cap C$ 46,875,687
Recent Sedar Documents

Falco samples all Horne 5 holes; two VPs resign

2015-05-12 13:40 ET - News Release

Mr. Vincent Metcalfe reports

FALCO TRANSITIONING TO DEVELOPER STATUS

Falco Resources Ltd. is accelerating the development of its Horne 5 deposit.

Development of Horne 5 deposit

Falco is transitioning to a mining development company through the development of its Horne 5 deposit. Under the leadership of Luc Lessard, president and chief executive officer, the company now benefits from successful mine build experience to advance the required technical and environmental studies. The company believes the development strategy will enable it to create and unlock the most value for all shareholders, while preserving the exploration upside on the land package.

Exploration near the Horne 5 deposit

As a result of this transition, the previously announced regional exploration program will be amended to prioritize exploration work near the existing deposit. Following further data compilation from the existing database, Falco will be targeting zones within two kilometres of the Horne 5 deposit, and InnovExplo was mandated and is currently reviewing additional data to identify targets that could be integrated with the Horne 5 deposit.

The current confirmatory drilling program is progressing well. Drilling has been completed on three initial holes and two wedges on the Horne 5 deposit. The current program is expected to be completed in the third quarter of 2015. All holes have been logged and have intercepted the targeted mineralization. Sampling was completed on all holes, assays were sent to ALS laboratory and results are pending. Data compilation and target generation continue on the overall land package.

Given the transition to development, Dr. Michael Byron has resigned as Falco's vice-president of exploration and Dean Linden has resigned as Falco's senior vice-president of business development. The board of directors wishes to thank Dr. Byron and Mr. Linden for their contribution to the exploration success of the company, and for positioning Falco as Quebec's next mining developer.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.