Falcon, Crews Mobilized at Golden Brook-Kraken Pegmatite Field Adjacent to Benton-Sokoman JV Nfld.
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NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
FALCON, CREWS MOBILIZED AT GOLDEN BROOK-KRAKEN PEGMATITE FIELD
ADJACENT TO BENTON-SOKOMAN JV NFLD.
November 15th, 2022, Vancouver, B.C. – Falcon Gold Corp. ( TSX-V: FG), (Frankfurt: 3FA:GR),
(FGLDF: OTCQB); (“Falcon” or the “Company”) and Marvel Discovery., (TSX-V: MARV), (Frankfurt:
O4T:GR), MARVF: OTCQB); and together (“the Alliance”) are pleased to announce that
exploration has commenced on their combined Golden Brook Projects in Central Newfoundland,
Canada. The Golden Brook Property is strategically located contiguous to Benton -Sokoman’s
Golden Hope Project covering the Kraken Pegmat ite Field. In addition, t he property is situated
approximately 7 kilometres from the past producing Hope Brook Gold Mine, the project is
interpreted to cover approximately 25 kilometres of the Cape Ray Fault east of Matador’s Cape
Ray Gold Project. Recent geophysical review and structural interpretation over the Golden Brook
project area, reported September 23, 2022, identified kilometer-scale shear zone corridors, and
a major fold closure, interpreted from the magnetics, within the Alliance’s Golden Brook Property
area. The Alliance had originally planned to complete high resolution magnetic gradiometer
surveys over the project area, a proven method to distinguish structural complexities in
geological terranes. The survey work was delayed due to a state of emergency being issued from
forest fires in Central Newfoundland. Crews have been mobilized to commence work on the
project, with prospecting and till sampling to be completed to verify the target structures and
determine their mineralization potential in advance of drilling planned for early 2023.
In the past year, Benton/Sokoman made headlines announcing the first High Grade Discovery of
Lithium bearing pegmatites at their Hope Brook project. It is important to note this discovery is
less than 10 km away from the combined ground held by Marvel and Falcon and appears to be
within the same lithological trend covered by the Joint Venture’s land tenure. The 35 grab and
chip samples noted in the Benton/Sokoman NR (September 16th, 2021) were collected over a 2
km distance. Their sampling program confirmed the presence of lithium-bearing pegmatites, the
first significant occurrence of Lithium documented in the province of Newfoundland and
Labrador, Canada.
"We’re thrilled to have mobilized crews on multiple projects in Central Newfoundland. The Golden
Brook is one of the most exciting prospects in our portfolio for Battery Metals in Central
Newfoundland, being tied on to the Kraken Pegmatite Field adjacent to Benton -Sokoman’s
discovery ground. We are completin g an aggressive prospecting and till sampling program to
FALCON GOLD CORP.
615 – 800 West Pender Street
Vancouver, BC, V6C 2V6
VANCOUVER TEL: (604) 670-0019
TORONTO TEL: (416) 477-1220
www.falcongold.ca
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verify the targeted areas and test the mineralized zones in advance of our next phase of
exploration- drilling planned for early 2023.” Stated Karim Rayani Chief Executive Officer.
Figure 1. Location of Falcon’s and Marvel’s Golden Brook joint venture property contiguous to First
Mining and the Benton – Sokoman joint venture.
Falcon and Marvel recently formed a strategic partnership (November 17, 2021) that combines
both the Hope Brook and Baie Verte Brompton District properties covering a combined 115,170
hectares to be explored on a 50-50 Joint Venture basis. The Hope Brook Property is hosted within
the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of,
or are proximal to, two major structures linked to several significant gold prospects (Cape Ray;
Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland. Rock
lithologies and structures on the property are also related to those associated with Marathon
Gold’s Valentine gold deposits, Sokoman’s Moosehead gold project and New Found Gold’s
Queensway gold project. The combined land position straddles both the eastern and western
extents of recent land acquisitions by the Benton/Sokoman JV partnership, with the JV now
controlling areas of considerable structural complexity marked by large -scale fold and fault
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structures, which provide important structural controls (traps) for gold mineralization within this
area.
Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was
in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is
now owned by First Mining and was acquired in 2015 and has since been optioned to Big Ridge,
which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne
gold for 954,000 ounces of gold in the indicated and inferred categories.
Qualified Person
The technical content of this news release has been reviewed and approved by Greg Robinson,
P.Geo., who is a Qualified Person as defined by National Instrument 43 -101, Standards of
Disclosure for Mineral Projects.
About Falcon Gold Corp.
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
20km southeast of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32 million
ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of
measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond
Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico
Fault Zone (“QFZ”) and may be the control for the gold deposit. The Central Gold property lies on a similar
major northeast-trending splay of the QFZ.
The Company holds 14 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located
in La Rioja Province, Argentina; The Viernes Gold/Silver/Copper project in Antofagasta Chile; The
Springpole West Property in the world -renowned Red Lake m ining camp; a 49% interest in the Burton
Gold property with Iamgold near Sudbury Ontario; in B.C., the Spitfire -Sunny Boy, Gaspard Gold claims;
the Great Burnt, Gander North/South, Valentine Gold South, Victoria West, and Golden Brook acquisitions
adjacent to First Mining, Matador, Benton-Sokoman’s JV, and Marvel Discovery in Central Newfoundland;
and most recently Battery Metals projects in Ontario and Quebec, The Timmins West and Outarde
Property.
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
Certain statements in this release are forward -looking statements which reflect the expectations of
management. Forward-looking statements consist of statements that are not purely historical, including
any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking
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statements in this press release relate to, among other things: completion of the Spin -Out. Actual future
results may differ materially. There can be no assurance that such statements will prove to be a ccurate,
and actual results and future events could differ materially from those anticipated in such statements.
There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the
beliefs, opinions, and projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the respective parties, are inherently
subject to significant business, economic, competitive, political and social uncertainties and contingencies.
Readers should not place undue reliance on the forward-looking statements and information contained in
this news release concerning these times. Except as required by law, the Company does not assume any
obligation to update the for ward-looking statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.