Falcon GOLD Expands Ground IN Great Burnt Copper District, Central Newfoundland
1 | Page
NEWS RELEASE FG: TSX-V
3FA: GR
FGLDF: OTCQB
FALCON GOLD EXPANDS GROUND IN GREAT BURNT COPPER DISTRICT, CENTRAL
NEWFOUNDLAND
Vancouver, BC, October 31, 2023 – Falcon Gold Corp. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (“Falcon”
or the “Company”) is pleased to announce it has acquired through staking , 91 claims (the “Property”)
totaling 2,275 hectares located in the Great Burnt base -metal rich greenstone belt in central
Newfoundland (Figure 1). The Great Burnt greenstone belt is host to the Great Burnt Copper Zone with
an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10%
Cu. (https://www.spruceridgeresources.com/great -burnt.php) Recent drilling in 2020 by Spruce Ridge
Resources reported 8.06% Cu over 27.2m (TSXV: SHL press release dated March 18, 2021). The Great
Burnt greenstone belt also hosts the South Pond A and B copper -gold zones and the End Zone copper
prospect within a 14 km mineralized corridor.
Figure 1. Regional location of Falcon’s Great Burnt copper property
FALCON GOLD CORP.
Suite 1100 – 1111 Melville St.
Vancouver, BC, V6E 3V6
VANCOUVER TEL: (604) 716-1036
TORONTO TEL: (416) 477-1220
www.falcongold.ca
2 | Page
The Property
The Property is hosted within the Great Burnt greenstone belt (GBGB) which hosts Besshi -type massive
sulphide deposits. These types of deposits generally occur in thick sequences of marine sedimentary rocks
ranging from black shale to arkose to greywacke. Sulphide lenses can be several meters thick and extend
for several kilometres. Besshi-type massive sulphide deposits are generally copper dominant and can
contain precious metals such as gold and often contain cobalt. The Property is also located 4km west of
the Crest Res ources-Exploits Discovery joint venture project within the Exploits Subzone. The Exploits
Subzone contains deep seated gold -bearing structures of the Dog Bay -Appleton Fault - GRUB Line
deformation corridor that contains the high-grade Keats Gold Zone of New Found Gold.
Figure 2. Location of the Falcon Gold acquisition proximal to Spruce Ridge Resources.
3 | Page
Figure 3. Great Burnt Bend Project Area with FG Claims in Orange and Spruce Ridge / Benton JV in Blue.
New Claims Cover Conductive Trend Hosting Copper and Gold Mineralization
Commentary
Mr. Karim Rayani, Chief Executive Officer, commented, “We are extremely pleased to have been able to
expand our footprint in the Great Burnt Copper District. This Property not only has the potential to host
important Exploits Subzone orogenic gold mineralization but also copper -rich massive sulphides that
contain gold. These new claims lie along the same conductive trend which hosts significant gold and copper
mineralization held by the Spruce Ridge / Benton Resources JV yet have never been drill tested or subjected
to any systematic exploration programs. Our desktop studies have shown this is a drill-ready project -
exploration and drill plans are now in the permitting stage. We look forward to announcing our exploration
and drilling plans in the coming months.”
Qualified Person
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P .Geo., who
is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The QP and the Company has not completed sufficient work to verify the historic information on the
properties comprising the Great Burnt property claim group particularly regarding historical exploration,
neighbouring companies, and government geological work.
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
4 | Page
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 multiple 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 mining 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
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.
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 defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.