VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 22, 2014) - Falcon Gold Corp. (TSX VENTURE:FG), ("Falcon" or the "Company") announces that it has finalized plans for exploration programs on the New York Canyon Copper property located in the Santa Fe Mining District, Mineral County, western Nevada and the Washington Silver property located in the historical Republic Mining District, northern Washington.
The New York Canyon Copper Property
On August 20, 2014, the Company announced the acquisition of the New York Canyon property. During June 2014, the Company visited the property to confirm and evaluate the occurrence and distribution of Copper mineralization. The assay results of grab samples collected during the site visit include high values of 19.2% Copper ("Cu") and 10.9% Zinc ("Zn") and are summarized in the table below.
| Sample ID |
Cu % |
Pb ppm |
Zn ppm |
Au ppb |
Ag ppm |
| FG-NYC-01 |
2.65 |
6 |
280 |
39 |
11.3 |
| FG-NYC-02 |
0.45 |
6 |
139 |
16 |
3.5 |
| FG-NYC-03 |
0.34 |
5 |
113 |
25 |
2.6 |
| FG-NYC-04 |
0.05 |
14 |
64 |
12 |
0.4 |
| FG-NYC-05 |
0.06 |
65 |
60 |
15 |
0.9 |
| FG-NYC-06 |
2.37 |
4 |
10,900 |
19 |
5.9 |
| FG-NYC-07 |
5.78 |
5 |
844 |
5 |
2.4 |
| FG-NYC-08 |
19.20 |
14 |
3,440 |
9 |
1.5 |
| FG-NYC-09 |
0.13 |
18 |
64 |
14 |
0.7 |
| FG-NYC-10 |
0.15 |
7 |
119 |
62 |
1.4 |
| FG-NYC-11 |
0.20 |
8 |
122 |
39 |
3.3 |
The Company has initiated the compilation, evaluation, and interpretation of historical exploration data generated on the New York Canyon property including verification of the historical mineral resource estimate. It is anticipated that this work will continue through the fall and winter. The Company will also be initiating a ground exploration program which will include geological mapping, bedrock sampling, and soil sampling. The field work will initially focus on the gold and silver potential in the northern claims which are contiguous with the past producing Santa Fe gold mine property. The Santa Fe mine is reported to have produced in excess of 350,000 ounces Au and 700,000 ounces Ag prior to closure in 1994 (Victoria Gold Corp.: www.vitgoldcorp.com )
The Washington Silver Property
The Company plans to complete approximately 12 kilometers ("km") of Induced Polarization ("IP") surveys on the Washington Silver property in Republic, Washington this fall. During the 2012 exploration program, the Company collected a number of anomalous to very well mineralized grab samples from outcrops on the property which include three samples that returned assay values of 559 grams per tonne ("g/t") Ag and 0.90 g/t Au; 458 g/t Ag and 0.39 g/t Au; and 232 g/t Ag and 0.50 g/t Au. These samples form a north-northeast linear trend which, including the Silver Bell Mine Pit, has a strike length of approximately 1.7 km. The IP survey is being designed to test this potentially mineralized trend. The results of the IP survey will be evaluated and integrated with previous exploration results which will form the basis of continued exploration activities.
Qualified Person and NI 43-101 Disclosure
Jamie Lavigne, P.Geo is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved this news release and is responsible for the technical information reported herein. Analyses of samples from the New York Canyon Copper property were completed at American Assay Laboratories located in Reno, Nevada and analyses of samples from the Washington Silver property were completed at ALS Minerals located in Vancouver, BC. Both laboratories are certified and accredited. All analytical results reported herein are from grab samples. While the Company considers the results of the grab samples to be significant and indicative of mineralization potential, they may not be representative of the grade and tonnage of mineralization on the respective properties.
About Falcon Gold Corp.
Falcon Gold Corp. is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in North America. Falcon can earn up to an 80% interest in the New York Canyon Property which hosts an advanced-stage copper project, located in the Santa Fe Mining District, Mineral County, Nevada.
Falcon also holds a 100% interest in the Washington Silver property, which includes the historic Silver Bell Mine, located in the Republic Mining District, northeastern Washington, USA. Falcon's previous drill results demonstrate the high grade potential of this project with an intersection of 167 g/t Ag over 36.5 m including a high grade intercept of 511.57 g/t Ag and including 0.83 g/t Au over 9.14 m.
Falcon's Burton Gold Property is located in the Swayze Greenstone Belt, Northeastern Ontario, and is approximately 38 kms northwest of IAMGOLD Corporation's Côté Gold Deposit. Drilling completed by Falcon included 3.74 g/t Au over an intersection length of 9.96 m (including 10.98 g/t Au over 2.17 m) and 3.25 g/t Au over an intersection length of 10.35 m (including 5.65 g/t Au over 2.85 m). IAMGOLD Corporation has earned a 51% interest in the Burton Property pursuant to an Option agreement with Falcon.
On Behalf of the Board of Directors
FALCON GOLD CORP.
David Tafel, Director
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.