Pinks Falcon Initiates Second Round 2,000 Meter Drill Program, Central Canada GOLD MINE, Atikokan, Ontario
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTC PINKS
FALCON INITIATES SECOND ROUND 2,000 METER DRILL PROGRAM,
CENTRAL CANADA GOLD MINE, ATIKOKAN, ONTARIO
Vancouver, B.C., November 9, 2020. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTC PINKS);
("Falcon" or the “Company") is pleased to report the Company has mobilized the diamond drill and crews
for its 2020 Stage Two drilling program at the Central Canada Gold mine near Atikokan, northwestern
Ontario.
Since concluding the first-round summer drill program comprising seven holes and totaling 1,055 meters
(“m”) of core at the Central Canada Gold Mine, the Company has evaluated the new geological and
analytical data achieved by the drilling. The gold-mineralized mine zone that hosts the Central Canada
gold mineralization is clearly a significant structure of highly schisto se and altered rock that appears to
cross numerous lithologies commonly containing multiple quartz veins and stringers variably mineralized
with gold, sulphide minerals and tourmaline. The gold-mineralized mine zone strikes east-north-east and
extends well beyond the area drilled by Falcon. The width of the zone is also quite noteworthy. As seen
in Falcon’s hole, CC 20-01, the structure occupies more than 60m of core length and contains a number
of mineralized intervals. The gold mineralization in CC20-01 commenced at 67m with an interval of 10.17
g/t Au over 3m within the broader zone of 1.21 grams per tonne gold (“g/t Au”) over 19m. The drill also
intersected additional high-grade quartz vein at 104m, which sampled 18.6 g/t Au over 1m.
The Company has determined that the continuity and strength of the Central Canada mine gold
mineralization are suitable for progression into definition drilling and has laid out plans for its second 2020
drill program. The program is budgete d for 2,000m of core drilling with 9 holes planned. The objective
of the drilling is to complement Falcon’s previous seven holes plus the three holes done in 2012 by TerraX
Minerals Inc. (“TerraX”) in order to undertake an inaugural mineral resource calculation. The Stage Two
drill program work has commenced and drilling can be expected to be completed before the December
holidays.
Falcon’s Chief Executive Officer , Mr. Karim Rayani stated, “ We are very pleased with the progress and
milestones achieved in a such a short time, not only have we acquired strategic ground putting Falcon as
one of the larg est land holders next door to Agnico Eagles Hammond Reef Deposit. We have set the
framework for undertaking an inaugural mineral resource calculation. We are thrilled to finally start phase
two at the Central Canada property- stakeholders can look forward to a very active winter.”
Falcon also reports the airborne geophysical surveys announced on October 1, 2020 have been delayed
due to weather-related issues. The geophysical contractor, ProspectAir out of Gatineau, PQ, has advised
the Company it will be mobilizing its helicopter an d crews within the next couple of weeks. Falcon will
announce the results and findings of the surveys as soon as possible.
FALCON GOLD CORP.
11th Floor – 1111 Melville Street
Vancouver, BC, V6E 3V6
VANCOUVER TEL: (604) 670-0019
TORONTO TEL: (416) 477-1220
www.falcongold.ca
www.falcongold.ca
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Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Alex Pleson, P.Geo.,
who is a Qualified Person as defined by National Instrument 43 -101, Standards of Disclosure for Mineral
Projects.
About Falcon Gold Corp., the Central Canada Gold Mine Project, and Jack Lake Trend
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring
opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, is approximately
20 k m south east of Agnico Eagle’s Hammond Reef Gold Deposit which has Measured & Indicated
estimated resources of 208 million tonnes containing 4.5 million ounces of gold. The Hammond Reef gold
property lies on the Hammond fault which is a splay off of the Quetico Fault Zone (“QFZ”) and may be the
control for the gold deposit. The Central Gold property lies on a similar major splay of the QFZ.
History of Central Canada gold mine includes;
1901 to 1907 - Shaft constructed to a depth of 12 m and 27 oz of gold from 18 tons using a stamp mill.
1930 to 1934 – Central Canada Mines Ltd. installed a 75 ton per day gold mill. Development work included
1,829 m of drilling and a vertical shaft to a depth of 45 m with about 42 m of crosscuts and drifts on the
100 m level. In December, 1934 the mine had reportedly outlined approximately 230,000 ounces of gold
with an average grade of 9.9 g/t Au.
1935 – With the on-going financial crisis of the Great Depression, the Central Canada Mines was unab le
to fund operations and the mine ceased operations.
1965 – Anjamin Mines completed diamond drilling and in hole S2 returned a 2 ft section of 37.0 g/t Au
and hole S3 assayed 44.0 g/t Au across 7 ft.
1985 – Interquest Resources Corp. drilled 13 diamond holes totaling 1,840 m in which a 3.8 ft intersection
showed 30.0 g/t Au.
2010 to 2012 – TerraX Minerals Inc. conducted programs that included line cutting, geological surveys and
drilled 363 m.
July 2020 – Falcon Gold Corp. completed its inaugural 7 -hole program for totaling 1,055 m of core. In
addition, the Company acquired by staking an additional 7,477 ha of mineral claims consisting of 369 units
immediately south and northwest of Agnico Eagle Mines Ltd.’s Hammond Reef property.
The Company also holds 4 additional projects. The Camping Lake Gold property in the world-renowned
Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario;
the Spitfire-Sunny Boy Gold Claims near Merritt, B.C.; and most recently, the Springpole West Property
near Red Lake, Ontario.
CONTACT INFORMATION:
Falcon Gold Corp.
“Karim Rayani”
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: [email protected]
Cautionary Language and Forward-Looking Statements
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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 futur e 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 d efined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.