Falco Resources (
TSX: V.FPC,
Stock Forum) advanced exploration efforts at the Horne Mine Complex, at Rouyn-Noranda, Quebec, when the company announced today that it had identified six gold zones with significant grade and continuity adjacent to its Horne 5 Deposit.
According to the
news release, combined with the recently disclosed zones, these 11 zones identified by historic drilling reveal the potential to add to the Horne 5 resource estimate.
Highlights from Lower West Zone drill results included 5.53 g/tonne gold over 14.6 metres at HN_21-2822, 10.40 g/tonne gold over 8.5 metres including 17.83 g/tonne gold over 4.5 metres at HN_9-90 and 4.29 g/tonne gold over 12.2 metres including 6.69 g/tonne gold over 6.1 metres at HN_2845.
Company President and CEO, Trent Mell, commented, “I am particularly excited by the discovery of the Lower West Zone due to the relationship that appears to exist with the near-surface Horne West deposit.”
He went on, “An immediate objective will be to assess the potential continuity between the Horne West deposit and the Lower West Zone. We will also evaluate whether these 11 zones and other known targets can be incorporated with Horne 5 resource estimate into a larger Horne Complex resource estimate.”
Then he concluded, “The opportunity is clear but additional work and community consultations are required.”
Falco Resources was in the news recently when
the company announced the acceleration of the expiry date of its warrants at the end of July.
Shares gained 3.33% on the news to $0.62 per share.
Currently there are 73.1m outstanding shares with a market cap of $45.3 million.
FULL DISCLOSURE: Falco Resources is a Stockhouse Publishing client.