Advertisement
Canada markets close in 4 hours 46 minutes
  • S&P/TSX

    22,180.21
    +73.13 (+0.33%)
     
  • S&P 500

    5,251.64
    +3.15 (+0.06%)
     
  • DOW

    39,731.12
    -28.96 (-0.07%)
     
  • CAD/USD

    0.7378
    +0.0006 (+0.08%)
     
  • CRUDE OIL

    82.73
    +1.38 (+1.70%)
     
  • Bitcoin CAD

    96,726.55
    +2,735.00 (+2.91%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,235.00
    +22.30 (+1.01%)
     
  • RUSSELL 2000

    2,129.43
    +15.09 (+0.71%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • NASDAQ

    16,392.55
    -6.97 (-0.04%)
     
  • VOLATILITY

    13.02
    +0.24 (+1.88%)
     
  • FTSE

    7,972.44
    +40.46 (+0.51%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6832
    +0.0027 (+0.40%)
     

Falcon Completes Check Assays of High-Grade Results from Gold, Silver and Copper Concessions, La Rioja, Argentina

HIGHLIGHTS:

  • 13 samples from three gold mineralized structures selected for checking;

  • All repeat analyses returned very high grades of base and precious metals;

  • All high grade gold results checked, returned very good reproduced assays ranging up to 44.90 grams per tonne gold ("g/t Au"); and,

  • Several previous silver ("Ag") sample analyses that indicated "beyond detection limits", returned grades up to 424.14 g/t Ag (see Table 1).

Vancouver, British Columbia--(Newsfile Corp. - February 14, 2019) - FALCON GOLD CORP. ("Falcon" or the "Company") is pleased to report on the results of check analyses and assays of select samples from its 2018 exploration program on the Esperanza Resources S.A. ("ERSA") mineral concessions located in La Rioja Province, Argentina. Thirteen samples were selected for the checks where the original results included very high-grade gold analyses and in samples with visible gold. In addition, certain of the silver, copper, lead or zinc results were beyond the detection limits of the initial analytical method and required further definition.

Table 1: Comparison of the original analytical results for the 2018 exploration program on Falcon's Argentine concessions, ERSA VIII, IX & X, with the check assays. The check gold assays represent the weighted average of screened fine and coarse fractions. See Table 2 attached to this release for the original and complete analytical results.


Au
g/t

Au
g/t

Ag
g/t

Ag
g/t

Cu
ppm

Cu
%

Pb
ppm

Pb
%

Zn
ppm

Zn
%

Sample

Original

Check

Original

Check

Original

Check

Original

Check

Original

Check

40032

15.63

13.55

8.20

7.66

>10000

1.96

3,462

0.32

136.50

0.01

40033

28.43

32.14

92.00

86.04

596.10

0.06

370

0.03

197.20

0.02

40036

6.92

7.64

55.40

71.56

3,250.40

0.36

1,477

0.16

500.30

0.05

40040

27.03

26.07

>100

424.14

>10000

1.23

>10000

>5.00%

>10000

>2.50%

40041

4.36

3.56

31.90

35.06

7,849.00

0.75

>10000

4.16

854.00

0.09

40042

18.45

16.47

>100

26.76

9,122.40

0.97

>10000

>5.00%

225.30

0.02

40044

22.16

22.64

11.90

19.87

597.50

0.10

9,194

1.94

9,194

0.09

40047

1.04

0.89

>100

256.28

>10000

2.44

>10000

1.34

81.70

0.01

40048 (VG)

28.23

27.00

>100

203.92

>10000

1.17

>10000

>5.00%

>10000

>2.50%

40050 (VG)

45.71

44.90

>100

123.21

7,869.60

0.73

>10000

3.69

2,527.80

0.24

40051 (VG)

0.66

0.98

78.90

76.71

8,397.50

0.77

609

0.09

148.50

0.02

40052 (VG)

23.13

21.88

4.00

<5

8,200.40

0.85

292

0.05

149.20

0.02

40053 (VG)

24.75

17.65

19.90

17.03

6,182.90

0.58

363

0.04

168.20

0.02

Stephen Wilkinson, Falcon's CEO commented, "The very high grades of gold, silver and copper found within Esperanza project have not only been confirmed but we are pleased the results are so well reproducible. The outstanding grades achieved for the base and precious metals are noteworthy. Our 2019 field programs will be adjusted and expanded to search for other like high grade zones within the laterally extensive host structures."

ADVERTISEMENT

Comments on the Results

Historical work has generated limited similar multi-element analyses for comparison. However, the reproducibility of the high-grade gold assays is a positive, possibly indicating that standard fire assay could be a reliable method for determining grades even in the presence of coarse visible gold particles.

Even though the grades of silver and gold vary independently, the very high grade silver assays (greater than 100 g/t) are associated with comparably high grades of the base metals; copper, lead and zinc. With only one exception so far, these high base metal analyses are also accompanied with strong gold numbers. The implication for these results is that new zones of gold mineralization may be discovered through the use of geochemical surveys to identify priority targets. Historical exploration work has (over limited areas) employed stream sediment geochemical sampling. Falcon's team will be re-examining these surveys and may expand the survey areas of the ERSA concessions to look for new copper, lead and zinc anomalies as an effective tool for discovering gold mineralization.

The ERSA Property

The ERSA Property is comprised of seven (7) mineral concessions covering an aggregate area of 20,461 hectares ("ha") within the renowned Sierra de Las Minas District, which is reported to host several past producing gold and silver mines. The Property is located about 50 kilometres ("km") south-southeast of the town of Chepes. The city of San Juan is about 250 km by paved highway to the west-southwest.

The first discovered gold mineralization within the District reportedly occurred within the ERSA IX concession in or about 1865 and is referred to as the "Callanas occurrences". Limited mining has been conducted on gold, silver and copper zones within the Callanas areas.

Qualified Person

Dr. Daniel Rubiolo, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.

About Falcon Gold Corp.

Falcon is a Canadian based mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Its Ontario, Canada projects include: the Central Canada cobalt, copper, gold project; the Coomer Lake vanadium and titanium project; the Wabunk Bay cobalt, copper and nickel project, and the Burton gold property. Falcon also has an agreement to acquire 20,461 hectares within the Sierra de Las Minas District, Argentina which has hosted several past producing gold, copper and silver mines. The Company has 38,020,184 common shares outstanding and is listed on the TSX Venture exchange with the trading symbol: "FG". For information on the Company, please visit our website: www.falcongold.ca.

CONTACT INFORMATION:

Falcon Gold Corp.

David Tafel
Chairman

Stephen Wilkinson
CEO & Director

Telephone: +1 604-683-1991
Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither 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 release.

Table 2: Summary of the sampling and original analyses results for the 2018 exploration program on concessions, ERSA VIII, IX & X. Note the high-grade gold beyond the analytical detection limit of 10,000 ppb Au were assayed for better upper grade results.

ESPERANZA PROJECT
ERSA VIII - IX - X

Au
ppb

Au
g/t

Ag
ppm

Cu
ppm

Pb
ppm

V
ppm

Zn
ppm




Analytical Method

FAA313(1)

FAG303(2) 

ICP40B(3)

ICP40B

ICP40B

ICP40B

ICP40B

Description

Lower Detection Limit

5

0.50

0.20

0.50

2

2

0.50

Mineralized
Zone

Sample
Type

Sample
Width (cm)

Upper Detection Limit

10,000

 

100

10,000

10,000

10,000

10,000

Sample Number

 

 

 

 

 

 

 

 

 

 

40031

28

--

2.70

655.20

92

18

51.20

ERSA VIII(4)

FLOAT

N/A

40032

>10000

15.63

8.20

>10000

3,462

604

136.50

ERSA VIII

CHIP ROCK

30

40033

>10000

28.43

92.00

596.10

370

85

197.20

ERSA VIII

FLOAT

N/A

40034

392

--

1.70

67.40

39

42

52.40

ERSA VIII

CHIP ROCK

30

40035

272

--

0.80

61.60

18

26

20.50

ERSA VIII

CHIP ROCK

30

40036

6,923

--

55.40

3,250.40

1,477

104

500.30

ERSA VIII

FLOAT

N/A

40037

81

--

0.80

69.00

46

16

16.60

ERSA VIII

CHIP ROCK

40

40038

30

--

0.20

21.30

18

11

11.00

ERSA VIII

CHIP ROCK

300

40039

58

--

<0.2

10.00

28

206

46.00

ERSA VIII

CHIP ROCK

40

40040

>10000

27.03

>100

>10000

>10000

105

>10000

Callana III

CHIP ROCK

50

40041

4,362

--

31.90

7,849.00

>10000

2,423

854.00

Callana VI

CHIP ROCK

40

40042

>10000

18.45

>100

9,122.40

>10000

679

225.30

Callana VI

CHIP ROCK

40

40043

121

--

4.40

67.90

2,205

113

43.10

Callana VII

CHIP ROCK

30

40044

>10000

22.16

11.90

597.50

9,194

315

81.70

Callana VII

CHIP ROCK

40

40045

129

--

1.30

55.80

458

61

33.80

Callana VII

CHIP ROCK

20

40046

31

--

0.50

31.90

488

73

84.00

Callana VII

CHIP ROCK

25

40047

1,037

--

>100

>10000

>10000

15

48.90

Callanas

CHIP ROCK

10

40048 (VG)(5)

>10000

28.23

>100

>10000

>10000

329

>10000

Callana V

CHIP ROCK

80

40049

1,438

--

8.80

491.80

9,741

96

1,432.20

Callana V

CHIP ROCK

30

40050 (VG)

>10000

45.71

>100

7,869.60

>10000

724

2,527.80

Callana IV

CHIP ROCK

50

40051 (VG)

662

--

78.90

8,397.50

609

243

148.50

San Isidro Norte

CHIP ROCK

40

40052 (VG)

>10000

23.13

4.00

8,200.40

292

120

149.20

San Isidro Sur

CHIP ROCK

60

40053 (VG)

>10000

24.75

19.90

6,182.90

363

95

168.20

San Isidro Sur

CHIP ROCK

100

40054

159

--

1.00

118.60

345

9

118.60

San Isidro Sur

CHIP ROCK

20

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42849