Falco Pacific Resource Group (
TSX:V.FPC,
Stock Forum) has increased the number of high-grade gold targets at its Horne Mine Complex through the compilation and evaluation of historic drill results left behind by Noranda who operated Horne from 1927 - 1976.
According to the
news release, Noranda focused its initial drill efforts to spot copper-dominant base metal mineralization and as a result, gold-only and zinc-rich were marked as low priority for further exploration, leaving an extensive database with substantial potential for gold and zinc-rich target generation in the Horne Complex and throughout the Rouyn-Noranda Camp.
Highlights from select historic results included 6.16 g/tonne gold, 11.34 g/tonne silver, 0.16% copper and 0.75% zinc over 42 metres including 10.22 g/tonne gold, 13.44 g/tonne silver, 0.24% copper and 1.35% zinc over 22.80 metres at HN-33-9369, 5.04 g/tonne gold, 14.47 g/tonne silver, 0.08% copper and 1.47% zinc over 15.2 metres at HN-33-9339, and 4.11 g/tonne gold over 12.2 metres at HN-09-313.
Company president and CEO, Trent Mell, commented, “Today's results continue to validate our view that the Rouyn-Noranda mining camp deserves a closer look for its gold potential.”
He went on to illustrate, “These zones point to under-evaluated opportunities immediately adjacent to our Horne 5 gold deposit and within a prolific gold-rich VMS system.”
Then he concluded, “Given the gold price environment in which Noranda operated throughout much of the Horne mine life, historic drilling focused on base metals and left prominent gold targets like the ones reported today primed for additional testing and expansion.”
Falco Pacific was in the news recently when
the company announced the appointment of a new president and CEO eight days ago.
Shares edged up 1.45% on the news to $0.70 per share.
Currently there are 71.3m outstanding shares with a market cap of $53.5 million.
FULL DISCLOSURE: Falco Pacific is a Stockhouse Publishing client.