MONTREAL, QC
-- (Marketwired)
-- 10/03/16
Falco Resources (TSX VENTURE: FPC) ("Falco" or the "Company") is pleased to report an updated mineral resource estimate for its wholly-owned Horne 5 gold project located in Rouyn-Noranda, Québec. Gold equivalent resources have increased significantly as a result of this update. The updated resource estimate now includes and combines the newly assembled historical underground channel sample database, new economic parameters as per the Company's recently published preliminary economic assessment ("PEA"), including lowering of the NSR cut-off, additional 2016 drilling results and revised commodity pricing assumptions. New Measured, Indicated and Inferred Resources have been updated for the Horne 5 deposit, which now contains 6 high grade zones.
This updated resource estimate increases Gold Equivalent M&I resources by 32 percent.
The updated resource estimate lays the foundation for the completion of a feasibility study in 2017. This update was undertaken to support feasibility work on the Horne 5 Project and to convert part of Indicated Mineral Resources into Measured Mineral Resources by adding 14,799 samples from the historical underground channel sample database into the resource estimate.
Highlights
At a C$55/tonne net smelter return ("NSR") cut-off
- Horne 5 is now estimated to host:
- a Measured Resource of 736,000 gold equivalent ounces ("oz AuEq"), including 475,410 oz Au contained in 9.4 million tonnes averaging 2.45 g/t AuEq (1.58 g/t Au; 16.33 g/t Ag; 0.18% Cu; 0.81% Zn).
- an Indicated Resource of 6,336,000 gold equivalent ounces ("oz AuEq"), including 4,088,383 oz Au contained in 81.7 million tonnes averaging 2.41 g/t AuEq (1.56 g/t Au; 14.19 g/t Ag; 0.18% Cu; 0.86% Zn).
- an Inferred Resource of 1,710,000 oz AuEq, including 1,053,061 oz Au contained in 22.3 million tonnes averaging 2.39 g/t AuEq (1.47 g/t Au; 22.98 g/t Ag; 0.2% Cu; 0.68% Zn).
- The Measured & Indicated Resources represent 81% of the total resources in AuEq content (oz).
- The Measured Resources represent 10% of the Measured & Indicated resources in AuEq content (oz). The recently completed historical underground channel chip sample database confirmed Au, Cu and Zn modelled grades and provided the data to upgrade a portion of the Indicated Resource into the Measured Resource category.
- A Feasibility study which will incorporate the updated Horne 5 resource estimate has been commenced and is planned to be completed in the first half of 2017.
- Ongoing drill programs are focussing on additional exploration targets in the vicinity of the Horne 5 Deposit. The company plans to drill 20,000 metres at the Horne 5 West and Quemont Extension exploration targets in 2016.
Luc Lessard, President and Chief Executive Officer, stated, "The resource estimate update will enable Falco to aggressively pursue the advancement of the feasibility study on the Horne 5 Project. Establishing an initial Measured Resource was critical to the advancement of the technical studies. The outlined Horne 5 prospective large bulk-tonnage underground resource has enabled Falco to commission work on developing a state-of-the-art highly mechanized mining project."
Horne 5 Resource Estimate
The updated Horne 5 resource estimate is based on 5,977 diamond drill holes (478,281m) of which 4,138 crosscut mineralized zones for a total of 177,996m of core within these zones.
Falco's 2015-2016 confirmation and 2016 exploration drill holes were collared from surface. The 2015-2016 confirmation drill holes successfully confirmed previously drilled areas between 650m and 2,035m below surface. The 2016 exploration drill results completed thus far and which were included in the resource locally expanded known resource envelops and strengthened the geological model. The historic Noranda holes were collared at depths ranging from 600m to 2,300m below surface across a strike length of up to 1,000m. The majority of drilling was conducted as radiating "fan drilling" on 15m spacing from 40 underground working levels developed throughout the deposit. The 15m spacing is significantly closer than standard drill spacing used in resource estimation work at present day providing a very high level of confidence in the data. Falco sampled at 1m intervals, Noranda dominantly sampled at 3m core lengths (which homogenizes individual higher grade results), generating the more than 92,000 assays that were used in the resource estimate.
The 43-101 technical report will be delivered and filed on SEDAR within the next 45 days.
Table 1 - Horne 5 Deposit - Mineral Resource Estimate
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Resource Cut-off Tonnes Au Au Ag Cu Zn
Class (NSR C$) Equivalent g/t g/t % %
g/t
----------------------------------------------------------------------------
Measured > 40 11,644,000 2.21 1.42 15.46 0.17 0.73
-----------------------------------------------------------------
> 45 10,884,200 2.28 1.47 15.74 0.17 0.75
-----------------------------------------------------------------
> 50 10,118,600 2.36 1.52 16.01 0.18 0.78
-----------------------------------------------------------------
> 55 9,361,800 2.45 1.58 16.33 0.18 0.81
-----------------------------------------------------------------
> 60 8,643,600 2.53 1.64 16.61 0.19 0.84
-----------------------------------------------------------------
> 65 7,885,500 2.62 1.70 16.90 0.19 0.87
-----------------------------------------------------------------
> 70 7,193,300 2.71 1.77 17.19 0.20 0.90
-----------------------------------------------------------------
> 75 6,477,100 2.81 1.84 17.48 0.21 0.92
-----------------------------------------------------------------
> 80 5,818,100 2.91 1.92 17.66 0.21 0.95
-----------------------------------------------------------------
> 85 5,202,300 3.01 2.00 17.77 0.22 0.96
-----------------------------------------------------------------
> 90 4,642,000 3.12 2.09 17.86 0.23 0.98
-----------------------------------------------------------------
> 95 4,100,200 3.23 2.18 17.99 0.23 1.00
-----------------------------------------------------------------
> 100 3,623,700 3.34 2.28 18.08 0.24 1.02
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Resource Contained Contained Contained Contained Contained
Class Au EQ Au (oz) Ag (oz) Cu (lbs) Zn (lbs)
(oz)
----------------------------------------------------------------------------
Measured 826,722 530,386 5,789,209 42,781,845 186,158,376
-----------------------------------------------------------------
799,424 513,969 5,506,283 41,196,031 180,655,296
-----------------------------------------------------------------
769,095 495,643 5,207,294 39,505,764 174,219,296
-----------------------------------------------------------------
736,424 475,410 4,914,349 37,672,449 167,402,703
-----------------------------------------------------------------
702,781 454,619 4,616,673 35,830,796 160,164,077
-----------------------------------------------------------------
664,417 431,243 4,285,355 33,782,384 151,210,238
-----------------------------------------------------------------
626,789 408,525 3,975,881 31,729,326 141,970,341
-----------------------------------------------------------------
585,214 383,485 3,639,181 29,410,622 131,694,520
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544,501 359,144 3,303,540 27,225,652 121,309,845
-----------------------------------------------------------------
504,116 335,148 2,972,444 25,141,955 110,615,281
-----------------------------------------------------------------
465,390 311,854 2,665,172 23,105,264 100,619,066
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426,051 287,638 2,371,119 21,144,745 90,605,672
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389,705 265,219 2,106,521 19,317,452 81,329,166
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Resource Cut-off Tonnes Au Au Ag Cu Zn
Class (NSR C$) Equivalent g/t g/t % %
g/t
----------------------------------------------------------------------------
Indicated > 40 101,193,300 2.18 1.40 13.28 0.16 0.78
-----------------------------------------------------------------
> 45 94,776,600 2.26 1.45 13.58 0.17 0.80
-----------------------------------------------------------------
> 50 88,312,700 2.33 1.50 13.88 0.17 0.83
-----------------------------------------------------------------
> 55 81,735,100 2.41 1.56 14.19 0.18 0.86
-----------------------------------------------------------------
> 60 75,030,900 2.50 1.61 14.53 0.18 0.89
-----------------------------------------------------------------
> 65 68,278,500 2.59 1.68 14.89 0.19 0.92
-----------------------------------------------------------------
> 70 61,663,700 2.68 1.75 15.24 0.19 0.95
-----------------------------------------------------------------
> 75 55,291,800 2.78 1.82 15.58 0.20 0.97
-----------------------------------------------------------------
> 80 49,387,700 2.89 1.90 15.88 0.21 0.99
-----------------------------------------------------------------
> 85 43,777,200 3.00 1.99 16.14 0.21 1.01
-----------------------------------------------------------------
> 90 38,485,300 3.11 2.08 16.37 0.22 1.03
-----------------------------------------------------------------
> 95 33,608,500 3.23 2.19 16.61 0.23 1.04
-----------------------------------------------------------------
> 100 29,224,100 3.36 2.30 16.79 0.24 1.04
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Resource Contained Contained Contained Contained Contained
Class Au EQ Au (oz) Ag (oz) Cu (lbs) Zn (lbs)
(oz)
----------------------------------------------------------------------------
Indicated 7,106,710 4,561,707 43,216,888 361,222,169 1,732,373,996
-----------------------------------------------------------------
6,876,279 4,420,159 41,389,265 347,023,865 1,681,157,217
-----------------------------------------------------------------
6,620,424 4,263,292 39,423,671 331,909,656 1,621,335,082
-----------------------------------------------------------------
6,335,857 4,088,383 37,294,859 315,830,464 1,552,729,386
-----------------------------------------------------------------
6,021,290 3,893,721 35,042,172 298,866,949 1,475,006,823
-----------------------------------------------------------------
5,679,400 3,683,116 32,678,965 280,681,708 1,387,152,589
-----------------------------------------------------------------
5,319,671 3,463,531 30,211,981 261,810,565 1,291,174,091
-----------------------------------------------------------------
4,949,131 3,239,298 27,699,476 243,001,702 1,187,893,122
-----------------------------------------------------------------
4,583,656 3,020,056 25,211,029 224,864,386 1,082,826,423
-----------------------------------------------------------------
4,215,800 2,798,579 22,721,918 207,141,824 976,681,962
-----------------------------------------------------------------
3,849,377 2,577,589 20,255,648 189,790,010 870,545,575
-----------------------------------------------------------------
3,494,066 2,361,472 17,947,645 173,002,348 768,394,721
-----------------------------------------------------------------
3,158,286 2,158,014 15,772,309 157,207,719 670,572,051
----------------------------------------------------------------------------
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Resource Cut-off Tonnes Au Au Ag Cu Zn
Class (NSR C$) Equivalent g/t g/t % %
g/t
----------------------------------------------------------------------------
Measured +
Indicated > 40 112,837,300 2.19 1.40 13.51 0.16 0.77
-----------------------------------------------------------------
> 45 105,660,800 2.26 1.45 13.80 0.17 0.80
-----------------------------------------------------------------
> 50 98,431,300 2.34 1.50 14.10 0.17 0.83
-----------------------------------------------------------------
> 55 91,096,800 2.41 1.56 14.41 0.18 0.86
-----------------------------------------------------------------
> 60 83,674,500 2.50 1.62 14.74 0.18 0.89
-----------------------------------------------------------------
> 65 76,164,000 2.59 1.68 15.10 0.19 0.92
-----------------------------------------------------------------
> 70 68,857,000 2.69 1.75 15.44 0.19 0.94
-----------------------------------------------------------------
> 75 61,768,900 2.79 1.82 15.78 0.20 0.97
-----------------------------------------------------------------
> 80 55,205,800 2.89 1.90 16.07 0.21 0.99
-----------------------------------------------------------------
> 85 48,979,500 3.00 1.99 16.32 0.22 1.01
-----------------------------------------------------------------
> 90 43,127,300 3.11 2.08 16.53 0.22 1.02
-----------------------------------------------------------------
> 95 37,708,700 3.23 2.19 16.76 0.23 1.03
-----------------------------------------------------------------
> 100 32,847,800 3.36 2.29 16.93 0.24 1.04
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Resource Contained Contained Contained Contained Contained
Class Au EQ Au (oz) Ag (oz) Cu (lbs) Zn (lbs)
(oz)
----------------------------------------------------------------------------
Measured +
Indicated 7,933,432 5,092,093 49,006,097 404,004,013 1,918,532,372
-----------------------------------------------------------------
7,675,704 4,934,128 46,895,548 388,219,896 1,861,812,513
-----------------------------------------------------------------
7,389,520 4,758,936 44,630,965 371,415,421 1,795,554,378
-----------------------------------------------------------------
7,072,273 4,563,793 42,209,208 353,502,913 1,720,132,089
-----------------------------------------------------------------
6,724,071 4,348,340 39,658,845 334,697,744 1,635,170,900
-----------------------------------------------------------------
6,343,817 4,114,360 36,964,321 314,464,092 1,538,362,827
-----------------------------------------------------------------
5,946,460 3,872,056 34,187,862 293,539,891 1,433,144,432
-----------------------------------------------------------------
5,534,345 3,622,782 31,338,658 272,412,325 1,319,587,642
-----------------------------------------------------------------
5,128,157 3,379,201 28,514,569 252,090,038 1,204,136,268
-----------------------------------------------------------------
4,719,916 3,133,727 25,694,362 232,283,780 1,087,297,243
-----------------------------------------------------------------
4,314,767 2,889,443 22,920,820 212,895,273 971,164,640
-----------------------------------------------------------------
3,920,117 2,649,110 20,318,763 194,147,093 859,000,393
-----------------------------------------------------------------
3,547,992 2,423,233 17,878,830 176,525,171 751,901,217
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Resource Cut-off Tonnes Au Au Ag Cu Zn
Class (NSR C$) Equivalent g/t g/t % %
g/t
----------------------------------------------------------------------------
Inferred > 40 29,982,700 2.09 1.27 20.20 0.18 0.62
-----------------------------------------------------------------
> 45 27,554,500 2.18 1.33 21.03 0.19 0.64
-----------------------------------------------------------------
> 50 24,940,000 2.28 1.39 21.98 0.20 0.66
-----------------------------------------------------------------
> 55 22,283,200 2.39 1.47 22.98 0.20 0.68
-----------------------------------------------------------------
> 60 20,058,400 2.49 1.54 23.94 0.21 0.70
-----------------------------------------------------------------
> 65 17,472,900 2.62 1.64 25.21 0.21 0.72
-----------------------------------------------------------------
> 70 15,293,600 2.75 1.74 26.48 0.21 0.74
-----------------------------------------------------------------
> 75 13,406,500 2.88 1.84 27.70 0.22 0.75
-----------------------------------------------------------------
> 80 11,528,900 3.04 1.96 29.10 0.23 0.77
-----------------------------------------------------------------
> 85 9,821,100 3.21 2.11 30.25 0.23 0.78
-----------------------------------------------------------------
> 90 8,222,900 3.41 2.29 30.98 0.25 0.77
-----------------------------------------------------------------
> 95 6,927,000 3.63 2.48 31.57 0.26 0.76
-----------------------------------------------------------------
> 100 5,912,700 3.84 2.68 32.15 0.27 0.74
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Resource Contained Contained Contained Contained Contained
Class Au EQ Au (oz) Ag (oz) Cu (lbs) Zn (lbs)
(oz)
----------------------------------------------------------------------------
Inferred 2,018,308 1,225,760 19,474,995 121,579,421 408,634,980
-----------------------------------------------------------------
1,930,445 1,176,117 18,634,351 114,786,950 389,104,374
-----------------------------------------------------------------
1,826,125 1,116,815 17,622,512 107,406,534 365,167,423
-----------------------------------------------------------------
1,709,902 1,053,061 16,463,471 99,171,805 336,101,668
-----------------------------------------------------------------
1,604,361 995,491 15,437,436 91,439,498 309,347,419
-----------------------------------------------------------------
1,472,114 922,946 14,159,498 80,661,116 278,551,219
-----------------------------------------------------------------
1,352,929 856,634 13,019,250 71,823,610 249,906,179
-----------------------------------------------------------------
1,242,755 794,507 11,940,661 64,601,999 222,924,808
-----------------------------------------------------------------
1,126,483 727,514 10,784,724 57,409,881 195,709,438
-----------------------------------------------------------------
1,014,192 664,774 9,552,769 50,654,094 168,612,199
-----------------------------------------------------------------
902,741 604,603 8,189,164 44,700,861 139,977,418
-----------------------------------------------------------------
807,727 552,850 7,030,524 39,678,474 115,974,677
-----------------------------------------------------------------
729,660 509,966 6,112,206 35,554,367 96,081,089
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Resource Estimate Notes:
1. The effective date of the resource estimate is September 26, 2016. The
Independent and Qualified Persons for the Mineral Resource Estimate as
required by National Instrument 43-101 are Carl Pelletier, P. Geo.,
B.Sc. and Guilhem Servelle, P.Geo., M.Sc., both employees of InnovExplo
Inc.
2. Mineral Resources are not Mineral Reserves and have not demonstrated
economic viability.
3. While the results are presented undiluted and in situ, the reported
mineral resources are considered by the Qualified Persons to have
reasonable prospects for economic extraction.
4. These estimates include six (6) low grade gold-bearing mineralized
zones.
5. The principal low-grade gold-bearing mineralized zone includes six (6)
high-grade gold-bearing zones, one (1) high-grade copper-bearing zone,
one (1) high grade zinc-bearing zone, three (3) high-grade silver-
bearing zones. Note that these high-grade zones may overlap each other.
6. Resources were compiled at NSR cut-offs of C$40, C$45, C$50, C$55,
C$60, C$65, C$70, C$75, C$80, C$85, C$90, C$95, and C$100 per tonne for
sensitivity purposes.
7. The official base case resource is reported at a C$55 per tonne NSR
cut-off.
8. The appropriate NSR cut-off will vary depending on prevailing economic
and operational parameters to be determined.
9. NSR estimates are based on the following assumptions: exchange rate of
$C1.30/$US, metal prices of (all $US): gold $1,300/oz, silver $18.50,
copper $2.15/lb, zinc $1.00/lb (Long term analyst consensus price
forecast study). Net recoveries of 86.8% for gold, 74.9% for silver,
67.3% for zinc and 74.0% for copper. Smelting cost (including
transportation) C$6.52 per tonne (based on the Cost Mine service as
well as on non-public smelter contract obtained from one of the
proposed destinations and on talks with transport providers).
10. Gold equivalent calculations assume these same metal prices.
11. Inferred resources are separate from Indicated Resources
12. The quantity and grade of reported Inferred Resources in this estimate
are uncertain in nature and there has not been sufficient work to
define these Inferred Resources as Indicated or Measured Resources. It
is uncertain if further work will result in upgrading them to an
Indicated or Measured mineral resource category.
13. The resource was estimated using Geovia GEMS 6.7. The estimate is based
on 5,977 diamond drill holes (478,281m) of which 4,138 crosscut
mineralized zones for a total of 177,996m of core within these zones.
For silver the estimate also uses the results of an exhaustive
metallurgical test comprising 2,112 diamond drill holes assayed for
silver over a total length of 75,540 meters. A minimum true thickness
of 7.0 m was applied, using the grade of the adjacent material when
assayed, or a value of zero when not assayed. Only the silver
interpolation in the Inferred resources does not use the material when
not assayed.
14. The estimate database contains also 14,799 channel samples for a total
of 23,791m from drifts historically sampled. Channel sample data was
only used for distance to composite criterion for resource
classification purposes.
15. 91% of density values were estimated using historical drill hole iron
assays data and Falco density data for an average of 3.41 g/cm3.
Interpolation method use 3 pass ID2 for the ENV_A and HG_A to HG_F
zones. 8% of density values were fixed at 2.88 g/cm3 for ENV_B to ENV_E
zones due to the scarcity of the data. 2.88 g/cm3 representing the
median of the available data. 1% of density values were fixed at 2.67
g/cm3 for ENV_F zone due to the scarcity of the date and to adequately
characterise this quartz-rich zone.
16. Compositing was done on drill hole sections falling within the
mineralized zones (composite = 3.0 metres). Tails shorter than 0.75 m
were not created.
17. Resources were evaluated from drill holes using an ID2 interpolation
method in a block model (block size = 5 x 5 x 5 m).
18. High grade capping was done on raw assay data and established on a per
zone basis for gold (Au g/t): (HG_A: 35; HG_B: 35; HG_C: 25; HG_D: 35;
HG_E: 25; HG_F: 35; ENV_A: 35; ENV_B: 25; ENV_C: 25; ENV_D: 20; E NV_E:
35; ENV_F: 25) and for silver (Ag g/t): SG_HG:100; HG_D: 165; HG_F:
165; ENV_A_SG_Low: 110; ENV_B: 100; ENV_C: 100; ENV_D: 100. Capping
grade selection is supported by statistical analysis. No capping was
applied to the Cu and Zn data based on statistical analysis.
19. The Mineral Resources presented herein are categorized as Measured,
Indicated and Inferred. The Inferred category is only defined within
the areas where blocks were interpolated during pass 1 or pass 2 in
areas where continuity is sufficient to avoid isolated blocks. The
Indicated category is only defined by blocks interpolated in areas
where the maximum distance to the closest drill hole composite is less
than 25m for blocks interpolated in passes 1 and 2. The Measured
category is only defined by blocks classified as indicated and in
sufficient proximity to sampled drifts (< 15m). The average distance to
the nearest composite is 6.97 meters for the Measured resources, 10.01
meters for the Indicated resources and 40.10 meters for the Inferred
resources.
20. Tonnage estimates were rounded to the nearest hundred tonnes. Any
discrepancies in the totals are due to rounding effects. Rounding
practice follows the recommendations set out in Form 43-101F1.
21. CIM definitions and guidelines were followed in estimating mineral
resources.
22. InnovExplo is not aware of any known environmental, permitting, legal,
title-related, taxation, socio-political, marketing or other relevant
issue that could materially affect the mineral resource estimate.
23. Metal contained in ounces (troy) = metric tonnes x grade / 31.10348.
Calculations used metric units (metres, tonnes and g/t). Metal contents
are presented in ounces and pounds
Qualified Person
Carl Pelletier (P.Geo., B.Sc.) and Guilhem Servelle (P.Geo., M.Sc.) are the qualified persons as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the mineral resource estimate Data in this release as it relates to the technical information related to the 2014 and 2016 Horne 5 Project Resource Estimate update and they have reviewed and verified the technical information contained herein. Messrs. Pelletier and Servelle are consulting geologists with InnovExplo Inc. and fulfill the requirements to be "qualified person" for the purposes of NI 43-101.
Claude Bernier, Exploration Manager, (P.Geo. Eng.) is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein. Mr. Bernier is an employee of Falco and is non-independent.
The scientific and technical information regarding the Cut-off evaluation set out in this news release has been approved by Francois Girard, Deputy Director - InnovExplo Inc. Mr. Girard is a Eng. with the Ordre des ingénieurs du Québec, and is a "qualified person" as defined by NI 43-101.
QA/QC
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 is comprised of 27 samples in 2015 and 20 samples in 2016. Every shipment is composed of 23 or 20 samples, a standard, a blank, a pulp duplicate (in 2015) and a reject duplicate placed at the end of the batch 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 re-assayed. In non-mineralized zones, every shipment is composed of 27 or 20 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 re-assayed.
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 74,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal property is the Horne Mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. An updated 43-101 mineral resource estimate for the Horne 5 deposit delineated an Indicated Resource of 5,361,000 gold equivalent ounces ("oz AuEq"), including 3,418,232 oz Au hosted in 58.3 million tonnes averaging 2.86 g/t AuEq (1.82 g/t Au; 15.60 g/t Ag; 0.20% Cu; 1.00% Zn) and an Inferred Resource of 1,254,000 oz AuEq, including 854,534 oz Au hosted in 12.7 million tonnes averaging 3.08 g/t AuEq (2.10 g/t Au; 26.26 g/t Ag; 0.22% Cu; 0.57% Zn.) -- see January 25th, 2016 press release for details. Osisko Gold Royalties is the largest shareholder of the Company and currently owns 16.2% of the outstanding shares of the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" and includes, without limitation, the completion of a Feasibility Study by the end of 2017, the results of ongoing and proposed drilling program on Horne 5 West and Quemont Extension, the development of the Horne 5 project to become a mining project. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and those risks set out in Falco's public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cautionary Note Concerning Mineral Resources
This press release uses the term "inferred" resourcesand "indicated resources", we advise investors that while this term is recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize it. "Inferred" resources and "indicated resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
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For further information contact:
Vincent Metcalfe
Chief Financial Officer
514-905-3162
info@falcores.com
Bettina Filippone
Renmark Financial Communications Inc.
514-939-3989
bfilippone@renmarkfinancial.com
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