PINKS FALCON REPORTS FURTHER STRONG RESULTS FROM ITS 2020 DRILL PROGRAM, CENTRAL CANADA GOLD MINE, ATIKOKAN, ONTARIO Highlights 6 drill holes support of indicated mine gold zone minimum strike of 120 meters (“m”)
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTC PINKS
FALCON REPORTS FURTHER STRONG RESULTS FROM ITS 2020 DRILL
PROGRAM, CENTRAL CANADA GOLD MINE, ATIKOKAN, ONTARIO
Highlights 6 drill holes support of indicated mine gold zone minimum strike of 120 meters (“m”)
Vancouver, B.C., September 14, 2020. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTC PINKS);
("Falcon" or the “Company") is pleased to announce it has received fire assays for two diamond drill holes,
CC20-03 and CC20-07 and partial results for holes, CC20 -04, -05 and -06 , from its Central Canada Gold
Mine project, near Atikokan in north-western Ontario. The Company’s holes; CC20-01, -02 and -03, plus
the three historical drill holes; CC12-01, -02 and -03 completed in 2012 by TerraX Minerals Inc. (“TerraX”)
were collared in the vicinity of the Central Canada mine shaft and each intersected the gold -mineralized
mine zone. The previously announced CC20-01 and CC20-02 (Falcon’s release dated, July 16, 2020) were
drilled west of the historic mine shaft with hole CC20-02 initially confirming the high-grade mine trend for
approximately 75 meters (“m”) of strike to west-southwest of the shaft.
Falcon’s hole, DD20 -07 was collared north of the shaft and successfully targeted the mine trend
approximately 10m east of the shaft and at a depth of 70m below surface. The assays and intersections
of the mineralized gold zones in hole, CC20-07, are given in Table 1. The hole intersected four zones, each
mineralized with sulphide minerals and significant gold grades ranging from anomalous (200 parts per
billion gold [ppb Au]) up to 7.230 grams per tonne gold (“g/t Au”).
Table 1: Assay results for drill hole, CC20-07, intersection of Central Canada Gold Mine main gold zones.
Drill Hole Sample From To Length
No. (m) (m) (m) Au (g/t) Au (g/t) Comments
CC20-07 166047 46.0 47.0 1.0 808 0.808
166048 47.0 48.0 1.0 409 0.409 Central Canada mineralized gold zone from 94.9m to 97.6m
166050 94.9 95.2 0.3 221 0.221 From 94.9m m to 97.0m (2.1m), average grade of 2.192 g/t Au
166051 95.2 96.0 0.8 4650 4.650 From 95.2m to 97.0m (2.1m), average grade of 2.542 g/t Au
166052 96.0 97.0 1.0 856 0.856 From 95.2m to 96.05.52m (0.8m), average grade of 4.650 g/t Au
166053 97.0 97.6 0.6 200 0.200
166061 114.0 115.0 1.0 > 5000 7.230 Possible extension of second high-grade vein in CC20-01 grading 18.0 g/t Au
166080 180.9 182.0 1.1 270 0.270
166081 182.0 183.0 1.0 734 0.734
166089 194.6 195.4 0.8 768 0.768
Note: Lengths of interesections may not represent the true widths of the gold zones. The Company has not yet accurately determined the dip of the zone.
Color key: Denotes Au grades better than 0.5 g/t and less 1.0 g/t
Denotes Au grades better than 1.0 g/t
Gold Analyses
Falcon’s Chief Executive Officer , Karim Rayani commented, “These continued encouraging results from
the Central Canada mine’s main trend are confirming our belief in the existence of the historical mine
resources and its potential in this gold market. When taken in conjunction with the drilling results of our
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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predecessor, we are now planning our second stage of infill and definition drilling with the intent of
advancing the project to the resource estimation stage. I will soon be announcing our next stage of drilling
that will aim to support Falcon’s inaugural NI43-101 resource.”
Table 2: Assay results for the 3 TerraX drill holes, CC12-01, -02 & -03, intersection of Central Canada Gold Mine main
gold zones. Collar locations are plotted on the surface plan (Figure 1.)
The dril ling in the vicinity of the Central Canada shaft (located in the middle of the plan in Figure 1.)
includes the TerraX holes; CC12-01, -02 and -03 plus Falcon’s recent holes; CC20-01, -02 and -07. These
drill holes all contain intersections within the Central Canada mine zone with visible gold common and of
grades greater than 1.0 g/t Au and up to 23.11 g/t Au within broader mineralized halo zones up to 10.6m
averaging 1.323 g/t Au (Table 2.).
Hole CC20-03 was collared approximately 125m west of the shaft and was terminated at approximately
87m. It did not reach its target depth. Hole -03 did encounter gold zones such as a 4m intersection from
34m to 38m of altered felsic i ntrusive unit containing veins of sulphide mineralized quartz. Within this
intersection, 1m returned a strongly anomalous assay of 0.489 g/t Au.
Next Steps
As already stated above, Falcon intends to commence a second stage of drilling to infill and further define
the Central Canada mine trend. However, the sampling and assaying will be completed of holes CC20-04,
-05 and -06 before the start of the second drill campaign. In addition, the Company will be commencing
with the modelling of the Central Canada mine gold zone(s) based upon its drilling plus the TerraX holes.
Falcon’s geological team will also be attempting to include in the model the diamond drilling and surface
work c ompleted by Anjamin Mines Ltd. In 1966 and 1967, Anjamin Mines reportedly completed
trenching, sampling and diamond drilling on the Central Canada property near the historically producing
Drill Hole From To Length
(m) (m) (m) Au (g/t) Au (g/t) Comments
CC12-01 32.7 33.8 1.1 832 0.832 Central Canada mineralized gold zone from 32.7m to 43.3m for 10.6m length
33.8 34.9 1.1 1630 1.630 From 32.7m to 43.3m (10.6m), average grade of 1.323 g/t Au
34.9 36.1 1.1 7 0.007 From 36.1m to 39.7m (3.6m), average grade of 2.844 g/t Au
36.1 37.9 1.8 4770 4.770 From 36.1m to 37.9m (1.6m), average grade of 4.770 g/t Au
37.9 39.7 1.8 856 0.856
39.7 41.5 1.8 351 0.351
41.5 43.3 1.8 239 0.239
CC12-02 29.8 31.6 1.8 1580 1.580 Central Canada mineralized gold zone from 29.8m to 36.8m for 7.0m length
31.6 33.3 1.8 1480 1.480 From 29.8m m to 33.3m (3.5m), average grade of 1.530 g/t Au
33.3 35.1 1.8 233 0.233
35.1 36.8 1.8 116 0.116
63.29 65.21 1.92 1350 1.350 Altered mafic unit with veins and quartz+sulphide stringers
CC12-03 17.0 18.1 1.1 273 0.273 From 29.8m m to 33.3m (3.5m), average grade of 1.530 g/t Au
18.1 19.1 1.0 1830 1.830
38.7 39.4 0.6 7360 7.360 Central Canada mineralized gold zone from 39.7m to 45.7m for 7.0m length
39.4 40.9 1.5 9 0.009 From 38.7m to 45.7m (7.0m), average grade of 1.916 g/t Au
40.9 42.4 1.5 51 0.051 From 38.7m to 39.4m (0.6m), graded 7.360 g/t Au
42.4 43.9 1.5 298 0.298
43.9 45.7 1.9 4440 4.440 From 43.9m to 45.7m (1.9m), graded of 4.440 g/t Au
57.9 59.0 1.1 731 0.731 Quartz veins in altered mafic unit with quartz+sulphide stringers
59.0 59.7 0.7 4100 4.100 From 57.9m to 62.0m (7.0m), average grade of 1.226 g/t Au
59.7 61.0 1.3 565 0.565 From 59.0m to 59.7m (0.7m), graded 4.100 g/t Au
61.0 62.0 1.1 525 0.525
Note: Lengths of interesections may not represent the true widths of the gold zones. The Company has not yet accurately determined the dip of the zone.
Color key: Denotes Au grades better than 0.5 g/t and less 1.0 g/t
Denotes Au grades better than 1.0 g/t
Gold Analyses
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shaft. Three short holes were drilled. S1 had an intersection of 6.9 g/t Au across 1.5 feet, S2 returned 37
g/t Au over 2 feet, and S3 had 44 g/t Au over 7 feet (Anjamin Mines News Release, 1966). In a 1967
assessment report, incomplete drill logs for up to 20 holes were found but no assays were reported.
Figure 1. A surface plan of the relative locations & attitudes of Falcon’s seven (7) diamond drill holes completed at the Central
Canada Gold Mine near Atikokan in northwestern Ontario during the summer of 2020.
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
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
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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
unable 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 Eagl e 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
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.