Falco Resources (
TSX: V.FPC,
Forum) reported Monday a significant increase in its resource base for the Horne 5 Project in the famed Rouyn-Noranda mining camp. The total gold, and gold-equivalent ounces has increased significantly from its previously reported resource estimate released at the beginning of the year.
More of the previous historical data for the Horne Mine Complex has now been reported, along with new economic parameters. Per this assessment; the Company has lowered its net smelter return (NSR) cut-off to $55. At this cut-off, Horne 5 now has a total resource of 7.1 million AuEq Measure and indicated, along with an inferred resource of 1.7 million ounces AuEq.
This represents a 32% increase of the M&I resource at Horne 5, which now contains six high grade zones. This sets the stage for the Company’s feasibility study, which is slated to be completed in the first half of 2017.
The Company was recently in the news when it reported
new drilling results from the Horne Mine Complex on September 13, 2016.
Falco Resources has 110 million shares outstanding, and a market cap of $128.9 million (CAD).