Mr. Vincent Metcalfe reports
FALCO INTERCEPTS 108.9M AVERAGING 3.10 G/T AU EQ AT HORNE 5
Falco Resources Ltd. has released positive results of its current confirmation drilling program on its 100-per-cent-owned Horne 5 project. The new results include two additional pilot holes and two wedges. The total 18 planned holes have now been completed and logged. Results are still pending for two remaining pilot holes and their respective wedges. Comparisons of the new results with the nearest historical data continue to confirm the overall grade and geometry of the Horne 5 deposit.
Highlights from confirmation Horne 5 drilling program
Analytical results have been received for the first 14 holes drilled at Horne 5. Comparisons of these results with the nearest historical data are shown in the tables. The comparisons are made on all assays for the entire length of the mineralized zone without application of a cut-off grade. The lengths presented are core length. Given the historical drill holes are not parallel to the 2015 drill holes, cylinders of 15 metres around the 2015 drill holes were used to select the historical samples in the immediate vicinity of the drill hole for the basis of comparison. Note that the historical data shown in the table do not include silver analytical results which are lacking in the historical database.
The Horne 5 mineralized zone occurs in a thick volcanic sequence composed of massive to breccia rhyolite and felsic tuffs. Known as the Horne sequence, the strongly altered units are flanked to the north by the Horne Creek fault and to the south by the Andesite fault. Sericitization and silicification affect the felsic rocks in the vicinity of the mineralized zone. Mafic intrusions and local mafic volcanics are also present in the package.
The Horne 5 mineralization is hosted in the same sequence having hosted the Horne deposit. The mineralization is essentially composed of pyrite with lesser amounts of sphalerite and chalcopyrite. The pyrite appears massive to semi-massive in centimetric to plurimetric intervals (lenses), disseminated and blebs.
The sphalerite, frequently observed, is mainly associated with the massive pyrite. Less frequent, the chalcopyrite appears in stringers.
The results from the two additional pilot holes (H5-15-05, H5-15-08) and their respective wedges continue to confirm the grades of the historical drill holes.
COMPARISON OF 2015 DRILL HOLE DATA V. HISTORICAL RAW ASSAY DATA
New drill hole data
AuEq with AuEq without
Hole ID Length Ag Ag
(m) (g/t) (g/t)
H5-15-01 31.2 3.00 2.85
H5-15-01-Atw 36.7 1.45 1.38
H5-15-02 100.9 2.93 2.48
H5-15-02-Atw 87.0 2.82 2.39
H5-15-03B 116.7 1.34 1.11
H5-15-03Dtw 134.4 1.46 1.23
H5-15-04 25.5 1.45 1.30
H5-15-04-Atw 30.3 2.26 2.09
H5-15-06 54.5 2.43 2.19
H5-15-06-Atw 57.5 3.11 2.77
H5-15-05 92.6 2.71 2.47
H5-15-05-Atw(1) 53.0 3.30 3.08
H5-15-08 108.9 3.10 2.88
H5-15-08W 107.1 2.93 2.73
Total 1,036.3 2.44 2.19
Historical raw assay data
Hole ID AuEq without Ag
(g/t)
H5-15-01 2.82
H5-15-01-Atw 2.85
H5-15-02 1.92
H5-15-02-Atw 2.16
H5-15-03B 1.23
H5-15-03Dtw 1.28
H5-15-04 1.55
H5-15-04-Atw 1.61
H5-15-06 2.50
H5-15-06-Atw 2.51
H5-15-05 2.81
H5-15-05-Atw(1) 2.56
H5-15-08 2.49
H5-15-08W 2.49
Total 2.11
(1) Hole H5-15-05-Atw intercepted a major fault zone which
limited the intersection of the entire mineralized zone. The
current results do not represent the full length of the
mineralized zone, as the hole was stopped before crossing
through the mineralized zone completely.
BREAKDOWN OF CONFIRMATION DRILLING RESULTS AT $0 NSR
2015 confirmation drilling results (weighted average)
AuEq
with
Hole ID From To Length Au Ag Cu Zn Ag
(m) (m) (m) (g/t) (g/t) (%) (%) (g/t)
H5-15-01 1,110 1,141 31.2 2.03 10.16 0.46 0.04 3.00
H5-15-01-Atw 1,105 1,142 36.7 0.88 4.51 0.27 0.06 1.45
H5-15-02 1,001 1,102 100.9 1.32 29.46 0.11 1.94 2.93
H5-15-02-Atw 1,002 1,089 87.0 1.43 28.61 0.13 1.47 2.82
H5-15-03B 1,248 1,365 116.7 0.50 15.51 0.06 1.00 1.34
H5-15-03Dtw 1,255 1,390 134.4 0.55 15.44 0.08 1.10 1.46
H5-15-04 1,302 1,327 25.5 0.73 10.27 0.13 0.71 1.45
H5-15-04-Atw 1,290 1,320 30.3 0.95 11.05 0.14 1.79 2.26
H5-15-06 1,189 1,243 54.5 1.36 16.16 0.26 0.73 2.43
H5-15-06-Atw 1,189 1,247 57.5 1.72 22.50 0.32 0.99 3.11
H5-15-05 1,803 1,896 92.6 1.96 16.14 0.12 0.57 2.71
H5-15-05-Atw 1,800 1,853 53.0 2.49 15.17 0.14 0.70 3.30
H5-15-08 1,441 1,550 108.9 2.20 14.16 0.30 0.32 3.10
H5-15-08W 1,443 1,550 107.1 2.00 13.13 0.27 0.53 2.93
Total 1,036.3 1.42 17.22 0.18 0.91 2.44
2015
confirmation
drilling Weighted average of
results 2014 raw assays
(weighted within a 15 m radius
average) cylinder around DDH
AuEq AuEq
without without
Hole ID Ag Au Ag Cu Zn Ag
(g/t) (g/t) (g/t) (%) (%) (g/t)
H5-15-01 2.85 2.26 0.30 0.10 2.82
H5-15-01-Atw 1.38 2.18 0.35 0.12 2.85
H5-15-02 2.48 1.14 0.11 1.19 1.92
H5-15-02-Atw 2.39 1.25 0.12 1.41 2.16
H5-15-03B 1.11 0.79 0.06 0.67 1.23
H5-15-03Dtw 1.23 0.82 0.06 0.70 1.28
H5-15-04 1.30 0.81 0.11 1.11 1.55
H5-15-04-Atw 2.09 0.83 0.12 1.13 1.61
H5-15-06 2.19 1.84 0.29 0.31 2.50
H5-15-06-Atw 2.77 1.89 0.28 0.28 2.51
H5-15-05 2.47 2.31 16.08 0.13 0.53 2.81
H5-15-05-Atw 3.08 2.16 11.71 0.11 0.40 2.56
H5-15-08 2.88 1.88 0.24 0.39 2.49
H5-15-08W 2.73 1.90 0.26 0.28 2.49
Total 2.19 1.51 14.49 0.16 0.64 2.11
The new drilling continues to verify the geometry of mineralized zones defined by the historic work of Noranda and compares favourably with historical grades.
DDH H5-15-02 and H5-15-03 tested a silver- and zinc-rich zone located in the upper part of the deposit, while DDH H5-15-04 tested the extension of the resource envelope. DDH H5-15-06, H5-15-05 and H5-15-08 initiated testing of a known gold- and copper-rich zone. Based on the recent results and current drilling program, the company anticipates the remaining holes to continue to confirm the historical data and resources.
Qualified person
Carl Pelletier (PGeo, Geo, BSc) is the qualified person as defined by National Instrument 43-101 for the portion on the comparison of new drill hole data versus historical raw assay data in this release as it relates to the technical information related to the 2014 Horne 5 project resource estimate, and he has reviewed and verified the technical information contained herein. Mr. Pelletier is a consulting geologist with InnovExplo Inc. and fulfills the requirements to be a qualified person for the purposes of NI 43-101.
Claude Bernier, exploration manager (PGeo, PEng), is the qualified person for this release as defined by National Instrument 43-101, and has reviewed and verified the technical information contained herein. Mr. Bernier is an employee of Falco and is non-independent.
Quality assurance/quality control
Falco has implemented a strict quality control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Falco inserts certified external mineralized standards. In the mineralized zones, each shipment comprises 27 samples. Every shipment is composed of 23 samples, a standard, a blank, a pulp duplicate and a reject duplicate placed randomly every 15th sample to test the laboratory analysis methods and precision for each shipment of samples. Blanks and standards are inserted within the normal sample number sequence. Assay results and certificates of analysis are interpreted and reported on a regular basis. If anomalies are detected, the laboratory is advised and the entire batch of samples is reassayed. In non-mineralized zones, every shipment is composed of 27 samples, which includes a standard and a blank. In non-mineralized zones, if anomalies are detected, the laboratory is advised, but the batch of samples is not necessarily reassayed.
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