Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon Gold" or the "Company") is pleased to announce the completion of the option and work requirements on the Central Canada project to earn its 100% interest in the project located in the Hutchinson Township, Ontario
Falcon has completed all its cash share and exploration expenditures over the 4-year option. Falcon has the right to purchase half of the 2% NSR (Net Smelter Royalty) for a payment of $ 1,000,000, leaving the vendors with 1%. With annual production pre-payments of $ 10,000 which will be deducted against future royalty payments.
The Company previously announced February 2, 2022, and April 4, 2022, the planning and expansion of phase 3 drilling to commence early March however due to drill crew delay and availability we had to push back the start date. Currently, due to increased water levels in rivers in the area the Ministry of Northern Development, Mines, Natural Resources, and Forestry issued a flood warning late May as water levels had increased blocking access to the project. The Company is monitoring the situation and will report back when the situation clears.
The Company has decided for the near term to focus on its Central Newfoundland project portfolio and is pleased to report crews have been mobilized at our Gander North and South projects and at our Golden Brook project with Joint Venture partner Marvel Discovery Corp. (TSX.V MARV). The Company will be following up with a more detailed news release on the exploration underway in Newfoundland in the coming days.
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 9 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; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: k@r7.capital
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.
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.
SOURCE: Falcon Gold Corp.
News Provided by ACCESSWIRE via QuoteMedia
Ontario has always been a premier jurisdiction for mining in Canada. However, one of Ontario’s earliest gold camps in the province’s northwestern region is showing signs of high-grade revitalization.
The town of Atikokan in Ontario is known for its two massive iron ore pits mined in the middle of the Second World War and operated until the late 1970s. The earliest gold exploration dates back to the 1800s, with significant production reaching upwards of approximately 52,000 ounces of gold and 174,000 ounces of silver in that period. With over 50 occurrences, prospects and producers of gold since Atikokan’s initial discovery, the gold camp boasts exploration potential for investors worldwide.
One such mining exploration company with a project in Atikokan is Falcon Gold Corp. (TSXV:FG,FWB:3FA,OTCQB:FGLDF). Its flagship Central Canada gold & polymetallic project leverages strategic positioning 20 kilometers east of Agnico Eagle’s Hammond Reef gold deposit. The world-class deposit currently has an estimated 3.32 million ounces of gold mineral reserves at 0.84g/t gold grading and an indicated mineral resource at 2.3 million ounces. The Central Canada project has a high potential to mimic this exceptional high-grade gold mineralization with further exploration and discovery.
In July 2020, Falcon acquired an additional 7,477 hectares of mineral claims consisting of 369 units in the highly operational Atikokan-based gold camp, expanding its three main property claims in the surrounding area. The Hammond Reef gold property on Central Canada lies on the Hammond shear zone, a northeast-trending splay off of the Quetico Fault Zone (QFZ). The flagship project’s other original Central Canada property lies on a similar major northeast-trending splay of the QFZ.
The company’s portfolio of mineral projects also include ones in prolific mining jurisdictions of Ontario, British Columbia and Argentina. In April 2021, Falcon created the Argentina-based Falcon Gold LatamARG S.A. to manage its South American exploration and development operations. This creation comes at an optimal time with the recent acquisition of the company’s Esperanza gold-silver-copper project in La Rioja, Argentina. Falcon intends to explore further interests in South America’s mining-friendly jurisdictions.
Future plans for the company include additional exploration and development of its mineral assets. It has already begun its 2021 work program on the Central Canada gold project, with initial activities focusing on the outcrop exposures and trench areas where Falcon’s geological team will be conducting detailed structural mapping. Expansive development of its Esperanza project in Argentina and 230,000-ounce historical resource validation is also in the works.
The Falcon Gold management team comprises mining and mineral exploration heavyweights, including CEO & director Karim Rayani and corporate advisor R. Stuart “Tookie” Angus. Angus brings unparalleled expertise as an independent business advisor to the mining industry and senior executive for several notable holdings companies. Together, the team primes Falcon for outstanding gold discovery and economic growth.
The flagship Central Canada gold & polymetallic project consists of three key claims: the original Central Canada property and Hammond South and Hammond West properties. The total area spans 10,392 hectares over a historic producer with shaft and mill site capabilities and sits 21.5 kilometers each of Atikokan and 160 kilometers west of Thunder Bay. The project is accessible via highway and road access and leverages mining-friendly conditions.
Central Canada has two geological regimes. Its Northern claims contain a greenstone rock underlay dating back to the Archean age. The Southern claims of the property are covered by Sapawe Lake and underlain by iron formation and greenstone rock units that host Falcon’s gold and cobalt occurrences. Historical drill intersection results highlight mineral grades upwards of 0.64 percent copper, 0.15 percent cobalt, 1.1 percent zinc and 0.35g/t gold over a true width of 40 meters.
Falcon has conducted an extensive 17-hole drilling program totaling 2,942.5 meters of core. Every hole successfully intersected a highly altered felsic porphyry rock unit with significant pyrite, arsenopyrite, lead telluride and visible gold mineralization. The company expects to complete more concrete resource calculations and use sampling and logging results to undergo fire assay gold analysis to assess the project’s full potential.
The Camping Lake property consists of five claims comprising approximately 2,250 hectares in the Red Lake mining district in Northwestern Ontario. The property leverages strategic proximity to Great Bear Resources, which recently reported high-grade gold discoveries. International Montoro Resources (TSX-V:IMT) has an option to earn a 51 percent interest in the Camping Lake property.
Historical exploration on the property includes petrographic studies; diamond drilling; rock, soil and lake sediment samples; IP/Ground Geophysics and more. The first phase of the Camping Lake 2020 exploration program consists of approximately 20 -line kilometers of ground VLF/EM geophysics and soil geochemistry.
The Springpole West property spans 4,440 hectares strategically located within four kilometers of First Mining’ Springpole deposit northwest of Red Lake, Ontario. The asset comprises 197 claims containing 217 units and garners accessibility via floatplane, ATV trail and winter road. The property has the potential to mimic similarly impressive indicated resource estimates as First Mining, which stands at approximately 139.1 million tonnes at 1.04g/t gold and 5.4g/t silver.
The claims cover 13.5 kilometers of strike length along a gold-bearing silicified mafic volcanic – sedimentary rock contact and a major property-wide fault zone. Historical work has indicated significant gold and silver values on the surface and at depth. Likewise, historical grab samples have revealed exceptional mineralization with grades up to 8.38 percent zinc, 16g/t silver and 0.05g/t gold.
The Burton gold property consists of six patented and 16 unpatented mining claims covering approximately 356 hectares in Esther Township, Ontario. The property has advantageous positioning within the very actively explored Swayze Greenstone Belt renowned for hosting lode gold mines. The property also leverages close proximity to IAMGOLD Corp.’s Cote Lake deposit, which has an indicated resource of 35 million tonnes averaging 0.82g/t gold.
Historical diamond drill intercepts at Burton include 9.34g/t silver over an intersection length of 7.75 meters at the main Shaft zone and 12.47g/t silver over an intersection length of 3.13 meters at the East zone.
The Spitfire & Sunny Boy property spans 502 hectares in south-central British Columbia, 16 kilometers east of Merritt. The property boasts excellent infrastructure and access with narrow but high-grade veining and gold mineralization.
Sampling from 1974 revealed the main showing, Master Vein, hosted high-grade gold mineralization up to 1,433g/t gold. 2020 work program and channel samples have returned upwards of 122g/t gold over a meter and 59.8g/t gold over 2.2 meters. The asset has the potential to host additional vein structures downslope from the Master vein, which Falcon intends to explore in future development programs.
The Gaspard gold project comprises three mineral claims covering 3,955 hectares in the Clinton mining district of central British Columbia. The property has year-round access with a robust network of active logging roads and favorable positioning nearby Williams Lake’s regional supply center for mining, logging and ranching.
The property is located approximately 26 kilometers south of the Blackdome gold mine project, which reportedly has indicated resources of 144,500 tonnes grading 11.29g/t gold and 50.01g/t silver. Gaspard has the potential to mimic this widespread mineralization and high-grade precious metal yield with its prospective anomalous grades of stream sediment samples.
Falcon’s ERZA property consists of ten mineral concessions spanning an aggregate area of 11,768 hectares. The large land package leverages good road accessibility and great resource networks with close proximity to the town of Chepes within the Sierra de Las Minas district of La Rioja. Argentina.
The first discovery of high-grade gold mineralization occurred in 1865 at the Callanan occurrences, followed by limited mining conducted on a gold, silver and copper zone. Falcon intends to continue validating the historical workings of Esperanza and exploring this very high-grade system.
For the past 15 years, Karim Rayani has focused on financing domestic and international mineral exploration and development. Most recently, Rayani was head of Bloomberry Capital Group, a Vancouver-based merchant bank and capital advisory firm. Prior, he worked independently as a management consultant and Financier. He is currently chair of R7 Capital Ventures Ltd; director of Fiber Crowne Manufacturing Inc., chair of District 1 Exploration Corp. Rayani has developed an extensive network of contacts throughout North America and Europe, focusing on Corporate Development and Finance.
Geoff Balderson has over 20 years of capital markets experience, having worked in public and private practice. Balderson is a senior officer and director of several TSX Venture listed companies and currently runs a private consulting practice Harmony Corporate Services Ltd., providing corporate advisory, accounting, filing and secretarial services to many publicly traded companies. Before, Balderson was an investment advisor at Union Securities and Georgia Pacific Securities and a University of British Columbia graduate in Marketing and Sales Management.
James Farley has been involved in the capital markets for over 25 years, initially as a financial advisor and subsequently as a private businessman. He is currently a business consultant for the mining and oil and gas industries, specializing in Health Safety and Environmental management.
John Bossio is a registered psychologist, having received a master of arts in counseling psychology from City University, Bellevue, Wash., in 2002 and a bachelor of science in family studies from the University of Alberta, Edmonton, in 1991. He is a member of both the Psychologists Association of Alberta and the College of Alberta Psychologists. Bossio is an avid investor and experienced board member. He has a network of contacts specializing in small-cap, publicly traded companies.
Stuart “Tookie” Angus is an independent business adviser to the mining industry and is presently chair of K92 and chair of San Marco Resources Inc. and Kenadyr Mining (Holdings) Corp. He is the former head of the global mining group for Fasken Martineau. For the past 40 years, Angus has focused on structuring and financing significant international exploration, development and mining ventures. More recently, he was managing director of mergers and acquisitions for Endeavour Financial and was responsible for merger and acquisition mandates.
Angus is the former chairman of the board of BC Sugar Refinery Ltd. He was a director of First Quantum Minerals Ltd. until June 2005, a director of Canico Resource Corp. until its takeover by Brazil’s CVRD in 2005, a director of Bema Gold Corp. until its takeover by Kinross Gold Corp. in 2007, a director of Ventana Gold Corp. until its takeover by AUX Canada Acquisition Inc. in 2011 and a director of Plutonic Power Corp. until its merger with Magma Energy Corp. in 2011. He resigned in 2017 as chair of Nevsun Resources Ltd. following its acquisition of Reservoir Minerals in 2017.
Glayton Dias is a geologist with 12 years experience both domestically and internationally, developing managing and exploring mineral deposits from early-stage to mine development and 3D ore estimation. Most recently his work has been focused on the Spences Bridge Gold Belt, having been posted as a project manager for the Shovelnose Deposit currently developed by Westhaven Resources with a resource of 791,000 ounces of gold and 3,894,000 ounces of silver Indicated (Reference below). Prior to being a Project Manager for Westhaven he worked as a consulting geologist for Ximen Resources on its multi-metallic Treasure Mountain deposit, Exploration Manager for Avant and Gdgeo, leading projects in world-class deposits as Andrade (Arcelor Mittal), Germano (Samarco) and Serra das Eguas (Magnesita SA).
Mr. Dias knowledge and experience in precious and base metal projects on high-grade epithermal low sulfidation including porphyry copper-gold geology, will be value add as we start up operations again at both Spitfire-Sunny Boy, Gaspard projects in B.C., and our South America projects.
Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon Gold" or the "Company") is pleased to announce its intention to spin-out (the "Spin-Out Transaction") its rights, title and interest in and to the option agreement dated January 5, 2021 between Falcon Gold, Esperanza Resources S.A. and Mr. Ivo Rojnica regarding certain mineral claims in Argentina (the "Esperanza Project") into a wholly-owned subsidiary of Falcon Gold, Latamark Resources Corp. ("Latamark
It is anticipated that the Spin-Out Transaction will be completed pursuant to a plan of Arrangement (the "Arrangement") and will be subject to TSX Venture Exchange, regulatory and court approval, as well as shareholder approval by not less than two-thirds of the votes cast at the annual general meeting (the "Meeting") of Falcon Gold shareholders expected to be held in July 2022. Full details of the Spin-Out Transaction will be included in the management information circular to be sent to Falcon Gold shareholders in connection with the Meeting. It is anticipated that Falcon Gold shareholders will be entitled to receive one common share of Latamark for every 3.5 common shares of Falcon Gold held as of the effective date of the Arrangement. No Falcon Gold options or warrants will entitle the holders to receive any shares or other convertible securities of Latamark, except to the extent such holders exercise such options or warrants, as the case may be, to acquire common shares of Falcon Gold prior to the effective date of the Arrangement. There will be no change in shareholders' holdings in Falcon Gold as a result of the Arrangement.
Following completion of the Arrangement, the board of directors of Latamark will initially be comprised of Karim Rayani and Fraser Rieche. The management team of Latamark will consist of Karim Rayani as Chairman and Chief Executive Officer, Geoff Balderson as Chief Financial Officer and Secretary. It is anticipated as Latamark develops there will be further additions to the senior management team.
The Spin-Out Transaction is designed to create value for Falcon Gold shareholders by allowing Latamark to focus exclusively on the activities required to exercise the option on the Esperanza Project, which comprises seven exploration concessions covering 11,072 hectares in the Sierra de Las Minas District of Argentina's southern La Rioja province. The Company also announces it will not be proceeding with the warrant repricing in connection with a property acquisition dated April 14, 2020 and announced April 21st
2022 based on TSX.V policy.
Falcon Gold's Chief Executive Officer Karim Rayani commented, "The spin-out of Latamark creates tremendous upside as we enhance shareholder value by leveraging Falcon's shareholder base and creating opportunity outside of North America, while preserving the share capitalization of Falcon. This will enable us to expand into new jurisdictions while Falcon can focus on its Canadian portfolio. We fully expect Latamark to become a platform for other exploration projects in the region adding to the value proposition. We look forward to an aggressive launch in South America.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any it U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 9 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; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca
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.
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.
SOURCE: Falcon Gold Corp
News Provided by ACCESSWIRE via QuoteMedia
Falcon Gold Corp. (TSXV:FG), (GR:3FA), (OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce the appointment of Glayton Dias as Exploration Manager for our British Columbia and South America portfolio
Mr. Dias is a geologist with 12 years experience both domestically and internationally, developing managing and exploring mineral deposits from early-stage to mine development and 3D ore estimation. Most recently his work has been focused on the Spences Bridge Gold Belt, having been posted as a project manager for the Shovelnose Deposit currently developed by Westhaven Resources with a resource of 791,000 ounces of gold and 3,894,000 ounces of silver Indicated (Reference below). Prior to being a Project Manager for Westhaven he worked as a consulting geologist for Ximen Resources on its multi-metallic Treasure Mountain deposit, Exploration Manager for Avant and Gdgeo, leading projects in world-class deposits as Andrade (Arcelor Mittal), Germano (Samarco) and Serra das Eguas (Magnesita SA).
Mr. Dias knowledge and experience in precious and base metal projects on high-grade epithermal low sulfidation including porphyry copper-gold geology, will be value add as we start up operations again at both Spitfire-Sunny Boy, Gaspard projects in B.C., and our South America projects.
Reference: https://www.westhavengold.com/projects/shovelnose-gold/details/
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 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. 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; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Email: info@falcongold.ca
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.
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.
SOURCE: Falcon Gold Corp
News Provided by ACCESSWIRE via QuoteMedia
VANCOUVER, BC / ACCESSWIRE/ March 10, 2022 / Falcon Gold Corp. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is delighted to announce it has acquired, via staking, a very large and strategically located land position in the Valentine Lake South Area. This new land position consisting of 605 claims (15,300 hectares) is contiguous to Marvel Discovery Corp, Matador Mining, and Tru Precious Metals Corp (TRU). The Property also lies along strike from the Valentine gold deposit which hosts 6.8 million ounces of gold (Moz. Au) (all categories) and is now under development (https://marathon-gold.com/valentine-gold-project/). Falcon has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits.
During 2021, 22 holes were drilled by TRU on their Golden Rose Project, contiguous to the Valentine Gold South Project, and assay results are just now being released. The first release of results includes 12 metres (m) grading 1.01 grams per tonne (g/t) Au from drill hole WL-21-12 and 7 m grading 1.71 g/t Au from drill hole WL-21-06, including 2.39 g/t Au over 4m (https://www.trupreciousmetals.com/news/tru-precious-metals-continues-to-intersect-gold-in-new-drill-results-from-golden-rose-project)
Figure 1. Regional location of Falcon's Valentine Lake South Gold property.
Falcon's Chief Executive Officer, Karim Rayani commented, "This is an impressive land position along the Valentine structural corridor. Our in-house studies have concluded that these crustal scale deformation zones host Newfoundland's larger gold deposits. They commonly have second- to third-order structural components much like the gold deposits along the Cadillac-Larder Lake and Destor-Porcupine fault zones of the Abitibi Subprovince of Ontario and Quebec. With Marathon & Matador as neighbours, we are ideally situated between two of the most significant gold deposits in Newfoundland. Our next steps are to run a high-resolution magnetic survey which will help map this large territory with braided shear zones which lie proximal to these major fault zones."
Valentine South Property
Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte-Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone (Figure 2). The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp,) in the footwall of the Victoria Lake Shear Zone. To date the Marathon Gold has discovered five (5) deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au. Also notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au (https://matadormining.com.au/cape-ray/). The newly acquired claims lie within the Valentine Lake Structural Corridor and in an area of very little historical exploration. Recent structural interpretations of regional scale geophysical surveys led Falcon Gold to the staking of this large land package due numerous interpreted parallel trends and tertiary splay zones which are considered highly prospective for gold mineralization.
Figure 2.Falcon Gold's Valentine South property location along the Valentine structural corridor.
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Valentine South property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
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 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. 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; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca
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.
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.
SOURCE:Falcon Gold Corp
News Provided by ACCESSWIRE via QuoteMedia
Falcon Gold Corp. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has increased its land position at the Gaspard Property from 3,955 hectares to 7,969 hectares. The Gaspard Property is in the Clinton Mining District of Central British Columbia near Spences Bridge. The Property covers similar geology to the Spences Bridge Gold Belt (the "SBGB") that hosts Westhaven Gold Corp.'s (WHN) Shovelnose gold project and the Blackdome Zone gold-silver deposit owned by Tempus Resources (TMR). Year-round, all-season roads with a good network of active logging roads provide excellent access (Figure 1
Figure 1. Location of the Gaspard Property within the Spences Bridge Gold Belt.
On, February 3rd ,2022, Falcon announced results from heavy mineral concentrates from three creek drainages grading 0.236 g/t Au, 1.097 g/t Au and 0.525 g/t Au. The stream sediment samples were collected over 3km southeast of previous and historical anomalous stream samples taken in 1990 from 4 parallel drainage patterns. The total apparent length of a gold anomaly that would potentially support an extensive drainage system at Gaspard is now 5km in length.
Karim Rayani, Chief Executive Officer commented, "We now have evidence that 6 separate drainage systems exist over a 5km strike length. The results from the heavy mineral concentrates combined with the 4 parallel drainage patterns further validate our thesis. The geology and host rock shares many characteristics to Westhaven's and Blackdome's deposits. We now control over 7,969 hectares in one of the last key areas in the Spences Bridge Camp known for low-sulfidation high grade."
Figure 2. Regional geological and structural setting of the Gaspard Gold Project.
The SBGB forms a northwest trending belt of Cretaceous-aged, volcaniclastic and sedimentary rocks 430km long and up to 24km wide extending in central BC (Figure 2). The relatively underexplored volcanic rocks are highly prospective for low-sulphidation epithermal gold mineralization. Recent drilling on the Shovelnose Gold Project by Westhaven Gold Corp. reported 614 g/t Au and 2,070 g/t Ag over 0.45m within 41.55m of 8.17 g/t Au and 34.64 g/t Ag (see press Westhaven press release dated June 1, 2021). The Blackdome Zone located 26km to the south was a former mine having produced 225,000 of gold at an average grade of 20 g/t Au. Current 43-101 compliant resources completed by SRK in 2010 report 144,500 tonnes Indicated grading 11.29 g/t gold and 50.01 g/t silver, and 90,600 tonnes Inferred grading 8.79 g/t gold and 18.61 g/t silver, Tempus Resources.
Falcon has also elected not to proceed with McCaul Hutchinson option agreement in Northern Ontario.
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 Gaspard Property, 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 20 km 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 Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. 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; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca
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.
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.
SOURCE:Falcon Gold Corp.
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Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report a Phase III drill program on the Central Canada Gold Project in the Atikokan mining camp of northwestern Ontario is scheduled for March 2022. To date Falcon has completed 26 diamond drill holes totaling 4,058m since 2020. Phase III is planned for 3 holes totaling approximately 1,000m. Drilling will target the J.J Walshe Zone (Central Canada Mine Trend) (Figure 1) at vertical depths between 200 and 300 m to extend the gold bearing zones beyond the current drilled depth of 160m
Highlights from the previous programs at the J.J. Walshe Zone include 1.35 g/t Au over 4.1m starting at 59.5m downhole in CC20-15 and 1.57 g/t Au over 14.8m starting at 89.6m downhole in CC20-12. This interval contained visible gold which assayed 20.50 g/t Au over 0.3m. Hole CC20-12 also contained 10.8 g/t Au over 0.3m starting at 112.4m downhole. The Central Canada Mine Trend has now been traced for 275m in strike length and to a depth of 160m.
Figure 1.Falcon Gold's Central Canada property with gold-bearing zones discovered to date.
Mr. Karim Rayani, Falcon's Chief Executive Officer, commented, "We are excited to finally test the historic Central Canada Mine Zone to a new target depth between 300-400m, not previously done by past operators. Falcon has been successful in intersecting 4 parallel zones along the CCMT and we are looking forward to testing these zones at greater depth below the old workings. Broad mineralization containing high grade domains have been intersected at the CCMT from Falcon's past drilling campaigns."
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.
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 20 km 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 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. 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; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.
CONTACT INFORMATION:
Falcon Gold Corp.
"Karim Rayani"
Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca
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.
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.
SOURCE:Falcon Gold Corp.
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Orefinders Resources Inc. (" Orefinders " or the " Company ") (TSXV: ORX) is pleased to announce that it will be featured at Ore Day which will be broadcast today June 10 th at 9 am ET at www.Oreday.com
Ore Day is a conference hosted by the Ore Group of Companies who focus on gold, copper, nickel, and uranium development projects.
Ore Day will also feature keynote talks and interview with industry experts, including:
Register Here: www.OreDay.com
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com
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.
SOURCE Orefinders Resources Inc.
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TSX.V: VIPR, OTC: VIPRF
Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce that it has closed the first tranche (the " First Tranche ") of its $3 million private placement announced on June 6, 2022 (the " Offering "), issuing 5,566,666 units of the Company (the " Units ") at a price of $0.20 per Unit for aggregate gross proceeds of $1,113,333 .
Each Unit consists of one common share (each, a " Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder thereof to acquire one Share at the price of $0.30 per Share until June 9, 2024 . The Shares and Warrants comprising the Units and any Shares issued upon the exercise of the Warrants are subject to a statutory hold period which expires on October 10, 2022 .
The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. The Company anticipates closing the second and final tranche of the Offering on or about June 23, 2022.
The Company has agreed to pay a finder's fee to certain finders in respect of those purchasers under the Offering introduced to the Company by such finder. In connection with the closing of the First Tranche, Silver Viper paid finder's fees of $23,700 to Red Cloud Securities Inc., $16,800 to Haywood Securities Inc., $6,000 to Canaccord Genuity Corp., and $1,500 to PI Financial Corp.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States , nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora . The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope
President and CEO
Forward Looking Information
This news release may contain forward-looking statements, including statements with respect to the terms of the Offering, closing of the second and final tranche Offering and use of proceeds of the Offering. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements, management discussion and analysis and/or annual information form available on www.sedar.com . The risk factors identified in such documents are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law.
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.
SOURCE Silver Viper Minerals Corp.
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SKRR Exploration Inc. ("SKRR" or the "Company") (TSXV: SKRR) (OTC Pink: SKKRF) (FSE: B04Q) is pleased to announce it has received TSX Venture Exchange approval of the previously announced share purchase agreement to acquire all of the issued and outstanding shares of 1364991 BC Ltd., an arm's length private B.C. Company that holds an undivided 100% interest in the Nickel Peak 1 and Nickel Peak 2 claim blocks.
SKRR's 100% owned Nickel Peak claims span 3874.5 acres (1568 hectares) and is approximately 110 kilometres northwest of Fort St. James, B.C. , in the Omineca mining district. Metallic mineralization includes nickel, cobalt and chromium with the documented presence of awaruite. Assays by Acme Analytical Laboratories Ltd. in 2005 returned up to 1826 ppm 1734 ppm Nickel with 1113 ppm Chromium. The good to date of the Nickel Peak claims is October 20, 2022 .
SKRR entered into a share purchase agreement dated as of June 6, 2022 , under which SKRR has purchased all of the issued and outstanding shares of 1364991 BC Ltd., an arm's length private B.C. company that holds an undivided 100% interest in the Nickel Peak 1 and Nickel Peak 2 claim blocks. As consideration for SKRR's purchase of all of the shares of 1364991 B .C. Ltd., SKRR issued three (3) million common shares, on a pro rata basis, to the shareholders of 1364991 B .C. Ltd. All SKRR common shares issued pursuant to the share purchase agreement are subject to a voluntary hold period of four months. The news release dated June 7, 2022 , erroneously referenced that the share purchase agreement and 1364991 B .C. Ltd. were non-arm's length parties (the parties are arm's length). The shareholders (vendors) of 1364991 B .C. Ltd. are: (i) 1274596 B .C. Ltd. ( Robert Nicholas Horsley ), (ii) 1170147 B .C. Ltd. (Hani El Rayess), and (iii) 1335527 B .C. Ltd. ( Daniel Terrett ).
The scientific and technical information contained in this news release has been reviewed and approved by Ross McElroy P.Geol , a director of the Company and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. McElroy verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
SKRR is a Canadian-based precious metal explorer with properties in British Columbia and Saskatchewan – some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan . SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
Sherman Dahl
President & CEO
Tel: 250-558-8340
Neither the 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.
This news release contains "forward?looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the Nickel Peak claims, and the expected outcomes, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those filed under the Company's profile on SEDAR at www.sedar.com . There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, decrease in the price of nickel, gold and other metals, equipment failures or failure to obtain the necessary equipment, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
SOURCE SKRR Exploration Inc.
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Airborne geophysics, soil and till geochemistry, and drilling to be completed by end of Q4 2022
MLK Gold Ltd. (CSE: MLK) ("MLK" or "MLK Gold" or the " Company "), a growth-oriented gold exploration company headquartered in Windsor, Nova Scotia is pleased to report that after an initial data mining compilation of public government databases, the Company has added 104 lithium claims covering 2,600 hectares on its 360 Lithium Property located on the south coast of Newfoundland .
Company President and CEO, Paul Smith (P. Geo.) and Executive Chairman, Bill Fleming , noted significant pegmatite development on the property following an initial reconnaissance visit to the area late last month.
"We know from previous government and academic research that pegmatite veins have been noted in previous mapping of the area and contain sub-ore grades of elemental lithium in addition to numerous quartz-tourmaline veins," said Smith. "What we were surprised to observe was the abundance of veining and the variation in textures and mineralogy. Our plan is to complete a full assessment of these claims as part of our Q3 exploration program which includes our Caledonia Brook Gold Property," he added.
Exploration is set to begin at the end of July and will coincide with the Company's plan to release its airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey and soil data collected by Geotech Ltd. and Overburden Drilling Management (ODM).
The Company's flagship Caledonia Brook Gold Project is targeting lode and intrusive-hosted styles of gold mineralization through a planned initial drill program of 1,200 metres in 12 proposed holes to be collared on the Mustang66, Maverick, and Charlie Zones.
"The commencement of our Q4 drilling will represent the first diamond drill holes ever undertaken on the property," added Smith. "We have two additional holes being considered on the Slider Zone which will be conditional on results of a detailed soil sample survey in this area."
A total of 662 line-kilometres (representing ~62% of the property) has been covered by an airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey. Survey highlights include:
All data is currently under review and results will be released in the Company's next update.
Phase I of the Company's glacial till sampling program in the northern portion of the property has been completed with 111 samples being processed by Overburden Drilling Management (ODM). A summary of the results from the samples include:
All heavy mineral concentrates from ODM's mineral separation work are currently being analyzed at Activation Laboratories Ltd. in Ancaster, ON , and results will be released once they have been received.
Additional glacial till sampling will be carried out over the southern part of the property in Q3-Q4.
The Company's 2022 soil sampling process will take place over five separate grids on the property. Gold assay grades in soil from last summer's exploration have shown elevated gold content up to 192 ppb. Further work will target the Mustang66, Maverick, Cougar, Charlie, and Slider Zones.
Rock geochemistry has indicated four areas of elevated gold, silver, zinc, or lead content. These occur along the Mustang66, Viper, and Maverick Zones with gold assays up to 2.38 g/t Au and with silver up to 71.1 g/t Ag, 4.03 % Zn, and 1.07 % Pb.
All work will focus on areas where either known structural faults occur or where the Company has evidence of either shear zones or faulting being present based on its previous exploration in the area.
MLK Executive Chairman, William (Bill) Fleming , says the Company's commitment to the area's high potential is driving their exploration program.
"We have a pretty good idea of the geological similarities we share with other major stakeholders in the area, and we are encouraged by some of the results we have recorded to date," said Fleming. "Keeping that in mind, our primary focus right now is to accelerate the implementation of our strategic exploration initiatives, and if that requires more investment capital then we'll execute that action."
MLK's Caledonia Brook property is situated in central Newfoundland west of New Found Gold Corporation, northeast of the Valentine Lake deposit property, and southwest of Sokoman Minerals Moosehead gold property, and shares geological and structural similarities to Marathon Gold's (4.14 million ounces; 3.14 Moz. M&I, 56.7 Mt @ 1.72 g/t Au; 1.00 Moz. Inferred; 18.2 Mt @ 1.70 g/t Au) Valentine Lake deposit with both properties lying along the Victoria Lake – Grand Falls Shear Zone System. The Company's qualified person has not verified data from Marathon Gold's Valentine Lake project and similarities are not indicative of mineralization on the Company's properties.
Source : N.I. 43 Technical Report & FEASIBILITY STUDY ON THE VALENTINE GOLD PROJECT, Newfoundland and Labrador, Canada ; Prepared for, Marathon Gold Corporation, 36 Lombard Street, Suite 600, Toronto, ON , M5C 2X3; by Ausenco. Effective date: April 15, 2021 .
MLK's corporate update can be viewed here .
Paul K. Smith (P. Geo.), President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland , MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.
Additional information about the Company and its activities may be found on the Company's website at www.mlkgold.com and under the Company's profile at www.sedar.com .
To view the Company's recent promotional video, please click HERE .
This news release contains certain forward-looking statements. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. 
SOURCE MLK Gold Ltd.
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Finlay Minerals Ltd. (TSXV: FYL) (" Finlay " or the " Company ") is pleased to announce its exploration plans for all three of its projects: the Silver Hope, the PIL, and the ATTY for the summer of 2022.
Robert F. Brown , President & CEO of Finlay Minerals states:
" The necessary funding by Finlay is in place for the Silver Hope and ATTY exploration programs, and our partner, ATAC, is funding the PIL program. All three programs have high impact exploration potential. At Silver Hope, drilling is targeting both Equity Silver type Cu-Au-Ag and porphyry Cu-Mo type mineralized targets. At PIL, ATAC is focusing on a porphyry Cu-Au-Mo targe; while at ATTY, Finlay is better defining potential porphyry Cu-Au and associated vein Au-Ag targets. Management is looking forward to the commencement of all these work programs ."
The planned 2,000m drill program will evaluate some of the high-priority, undrilled targets within the Equity East and Allin Zones. The Equity East and Allin targets are combined geochemical, and geophysical anomalies strongly associated with the Goosly Intrusive Complex (GIC). ( CLICK HERE to view the Silver Hope Property with the Equity East and Allin Zones and the Main Trend's Gaul Zone ).
The former Equity Silver open-pit and underground mine is located on the western edge of the magnetic high anomaly which is interpreted as the GIS (Goosly Intrusive Suite). The exploration permit is currently being reviewed by the Ministry of Mines & Energy and Low Carbon Innovation and exploration work will begin once the permit is received.
Follow-up drilling in the Gaul Zone along the Main Trend will target down dip of the mineralized zone to twin some 1987 drill holes that were drilled prior to Finlay's ownership and for which the Company is missing assay data. The Company will also test south of SH21-09 which intersected 76.57m (from 80.23m ) grading 0.45% Cu, 14.6g/t Ag, and 0.14g/t Au and which continues to be open to the south and down dip.
ATAC's 2022 exploration plans will focus on the Copper Ridge target which hosts a 1,300m x 750m Cu – Au – molybdenum (Mo) surface geochemical anomaly ( CLICK HERE to view the Cu in soils PIL map showing the target areas ).
The exploration program will focus on detailed geological and alteration studies, in addition to IP geophysics to develop drill targets. Permitting for future drilling has been submitted to the Ministry of Mines & Energy and Low Carbon Innovation. Follow-up mapping and sampling is also planned at the Copper Cliff target which hosts a 25m continuous talus sample that assayed 1.04% Cu. Other targets will be investigated depending on time and budget.
Finlay's 2022 exploration plans will focus on the Attycelley vein Ag-Cu-Pb-Zn-Au target within a 1.2km x 1.3km Cu surface geochemical anomaly. ( CLICK HERE to view to ATTY Map with the target areas .)
The exploration program will include geological and alteration mapping and sampling to outline the extent of the Attycelley veins and their relation to the large surrounding soil anomaly, and high chargeability IP anomaly. The Attycelley hosts several high-grade samples with values as high as 240.6g/t Ag, 9.1% Pb, 5.5% Zn, 1.8% Cu and 0.66g/t Au .
Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown , P. Eng.
President & CEO
Neither the 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.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Silver Hope, PIL and ATTY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.
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Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (the "Company") is pleased to announce acceptance by the Japanese Ministry of Economy, Trade and Industry ("METI") of 13 new prospecting rights applications covering 3,972 hectares between its Barrick Alliance Aibetsu and Tenryu Projects, in north Hokkaido.
Regional BLEG Sampling Results:
Stream-sediment samples analysed for gold and pathfinder elements were systematically collected at Aibetsu in 2020-21 as part of the larger regional screening program conducted across the Barrick Alliance projects (Figure 1). A review of the data has identified multiple, strong gold and pathfinder element basin anomalies across the Aibetsu and Tenryu project areas. Anomalous basins include those draining areas of known gold and mercury workings on the west side of Aibetsu and at Tenryu. Additionally, strong and contiguous basin anomalies defining a significantly larger area have now been identified both within and outside of the current project boundaries on the east side of Aibetsu, and Tenryu projects. Based on this information, new prospecting rights applications were filed to cover these open anomalies and the acceptance by METI gives the Barrick Alliance priority to advance the expanded Aibetsu district (Figure 2).
Aibetsu Project
The historic Aibetsu Goldfield includes four known hard rock and eluvial gold and mercury workings including the Tokusei mine (Au), Kinzan (Au), Motoyama (Hg) and Yamamezawa (Hg) workings. The Tokusei gold mine produced 38,000 ounces of gold and 474,000 ounces of silver from underground development between 1930 and 19431.
Historic production at Tokusei came from a swarm of approximately 20 banded epithermal veins hosted in andesitic volcanic rocks. Individual veins varied in length from 22 to 425 metres, and one exceptional vein, the Sanjinhi vein, averaged 6.4 m in width over a 140 m strike length, and averaged 17.7 g/t gold and 20.4 g/t silver2.
Government funded exploration work around the Tokusei mine workings in the late 1990's included a drilled vein intercept of 1.4 m grading 69 g/t gold and 263 g/t silver from a drill hole 500 m to the northeast of the Tokusei mine workings3. The Company has identified extensive areas of anomalous gold and pathfinder elements in soil sampling which highlight the prospectivity of strike extensions at the Tokusei mine. For more detailed information on the Aibetsu Project, refer to the Company's website and news release dated February 28, 2018.
References
1 Watanabe, Y., (1995). A Tectonic Model for Epithermal Au Mineralisation in NE Hokkaido, Japan. Resource geology Special Issue, No. 18, pp. 257-269.
2 Fujiwara, T., Konoya, M., and Matsui, K. (1960). Geology and mineral deposits in the Aibetsu area, Hokkaido Chikashigen Chosashiryo 59: pp. 1-20 (in Japanese).
3 Metal Mining Agency of Japan, Geological Survey Report for Fiscal Year 2002, North Hokkaido Area.
Qualified Person
The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Japan Gold Corp.
"John Proust"
Chairman & CEO
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 31 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the Company has an operational team of geologists, drillers and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com
For further information, please contact:
John Proust
Chairman & CEO
Phone: 778-725-1491
Email: info@japangold.com
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results related to future partnerships and the Company's 2020 gold exploration program. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, general economic, market and business conditions; competition for qualified staff; the regulatory process and actions; technical issues; new legislation; potential delays or changes in plans; working in a new political jurisdiction; results of exploration; the timing and granting of prospecting rights; the Company's ability to execute and implement future plans, arrange or conclude a joint-venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward?looking information or to explain any material difference between such and subsequent actual events, except as required by applicable laws.
Figure 1: Kitami Metallogenic Province, Japan Gold & Alliance Projects and significant mines
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Figure 2: Aibetsu and Tenryu projects, prospecting rights and applications
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127062
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