viewFalcon Gold Corp

Falcon Gold says it has made “excellent progress” on its stage 2 drill program at the Central Canada gold mine in Ontario

The company said the drilling will supplement previous programs in order to undertake a preliminary resource estimate for the Central Canada mine

Falcon Gold Corp -
Falcon Gold says the implications of its drilling and intersections of Central Canada mine mineralization are "more than encouraging"

Falcon Gold Corp (CVE:FG) (OTCPINK:FGLDF) (FRA:3FA) Wednesday announced that it has made what it called “excellent progress” on its 2020 stage 2 drilling program at the Central Canada gold mine in northwestern Ontario, with 489 metres of the 2,000-metre drill program being completed thus far.

The company said the purpose of this drilling is to supplement previous programs in order to undertake a preliminary resource estimate for the Central Canada mine.

Falcon Gold CEO Karim Rayani said in a statement: "The positive implications of our drilling and intersections of Central Canada mine mineralization are more than encouraging. We will be submitting several hundreds of samples for analyses as the program advances and will be cautiously looking forward to reporting the results."

READ: Falcon Gold is confident it can soon increase ounces at exciting Central Canada gold mine project

TerraX Minerals Inc carried out some exploration work and diamond drilling on Central Canada Gold Mine between 2010 and 2012, highlighted by grab sample results of up to 39.6 grams per tonne (g/t) gold and drill results that included 10.61 metres (m) averaging 1.3 g/t gold.

When Falcon Gold started its drilling this year, its first hole was designed to undercut the TerraX hole CC12-01 and it successfully intersected gold mineralization at 67m with an interval of 10.17 g/t gold over 3m within the broader zone of 1.21 g/t gold over 19m. The drill also intersected additional high-grade quartz vein at 104m, which sampled 18.6 g/t gold over 1m.

Falcon Gold also reported that airborne geophysical surveys for the company's Atikokan properties have now commenced following weather-related delays, and the company said it will announce the results and findings of the surveys as soon as possible.

The Central Canada Gold Mine is Falcon Gold's flagship project and is approximately 20 km south east of Agnico Eagle's Hammond Reef Gold Deposit, which has measured and indicated estimated resources of 208 million tonnes containing 4.5 million ounces of gold.

The company also holds four additional projects: The Camping Lake Gold property in the Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; the Spitfire-Sunny Boy Gold Claims near Merritt, B.C.; and most recently, the Springpole West Property near Red Lake, Ontario.

Contact Sean at sean@proactiveinvestors.com

Quick facts: Falcon Gold Corp

Price: 0.08 CAD

Market: TSX-V
Market Cap: $7.72 m

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