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Falcon Gold Corp (2)
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Falcon Gold starts drilling at Central Canada

2020-04-14 06:02 ET - News Release

Mr. Karim Rayani reports


Drilling has commenced on Falcon Gold Corp.'s Central Canada gold project. The program is designed to target a significant induced polarization (IP) anomaly interpreted by Terra-X Minerals Ltd.'s 2010 ground geophysics survey, which extends 200 metres along strike of the Central Canada mineralized zone, which has sampled up to 44 grams per tonne gold over two metres (Anjamin Mines Ltd., 1967).

Gold mineralization can be traced across the Central Canada structure, interpreted as a large splay along the Quetico fault zone. With more recent drilling by Interquest Resources Corp. intersecting over one metre at approximately 30 g/t gold in diamond drill core and 23.3 metres at 0.83 g/t gold and 10.61 m at 1.32 g/t gold in 2012 by Terra-X Minerals. Trenching work in 2011 indicated significant gold mineralization to the south of the historic Sapawe gold mine, where the operator sampled up to 6.7 g/t gold along a strongly mineralized shear zone.

Gold prospects in the Central Canada project are typically associated with metavolcanics and felsic intrusive rocks, which are crosscut by quartz-porphyry dikes and sills with later-stage quartz veining. Economic mineralization has been observed in highly mineralized shear zones and quartz veins.

The largest nearby deposit discovered to date is represented by the Sapawe gold mine, which milled 33,013 tonnes of ore (producing 4,547 ounces gold and 1,315 ounces silver) with an unclassified resource of 528,614 tonnes at 0.31 ounce per ton gold calculated by Sapawe Gold Mines Ltd. in 1995. Significant gold mineralization has also been identified in the halo of the original Sapawe mine of up to 24 g/t.

Qualified person

The technical content of this news release has been reviewed and approved by Alex Pleson, PGeo, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring and exploring opportunities in the Americas. Falcon's flagship Central Canada gold project is approximately 20 kilometres southeast of Agnico Eagle's Hammond Reef gold deposit, which has a measured and indicated estimated resource of 208 million tonnes containing 4.5 million ounces of gold. The Hammond Reef gold property lies on the Hammond fault, which is the control for the gold deposit. The Central gold property lies on a similar major structure the Quetico fault.

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