Falcon’s Phase 2 at Spitfire - Sunny Boy Has Commenced - Seite 2

1.0

11.40

0.33

Master Vein Cliff Vein

467716

Grab

n/a

22.80

0.67

Cliff Vein

The Sunny Boy Project consists of parallel low sulphidation epithermal gold bearing veins. A new potential vein structure, the Cliff Vein, was discovered down slope from the Master Vein, approximately 25 meters lower in elevation. A grab sample of the Cliff vein assayed up to 22.8 g/t Au. To date 5 parallel vein systems have been recorded on the Property. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

Karim Rayani, Chief Executive Officer commented, "We are thrilled to finally send exploration crews to follow up on our original findings from last year. We believe the nature of the veining conforms to a low sulfidation epithermal deposit type model that could host world class gold grades. Our initial phase confirmed the potential of bonanza type gold mineralization. The second phase is a more aggressive follow up testing the vein systems along strike, near surface using shallow drilling. Multiple veins were identified in 2020 and we aim to verify and confirm their high-grade nature along exposed strike lengths."

The Spitfire and Sunny Boy Project

The first recorded discoveries were made on the Spitfire & Sonny Boy claims in 1908, which is currently located in the north-east portion of the property claim block. Most of the early exploration focused on quartz veins that hosted gold, copper and silver. High grade gold values have been reported up to 127 g/t Au and 309 to 514 g/t silver ("Ag") in quartz vein material from underground workings by Quilchena Mining and Development Company Ltd. The high-grade veins have been trenched, pitted, blasted, and drilled but have never been commercially mined. The main showing, Master Vein and hosts high-grade gold mineralization up to 50.53 oz/t as sampled by Ken Sanders, P. Eng in 1974. To the south-west of the Sunny Boy Zone in an area referred to as the "AL" showing soil geochemistry, geophysics (magnetometer/VLF), trenching, sampling and diamond drilling have been performed on the mineralized veins. The best drill result was reportedly 3.77 g/t Au, 0.24 % copper, and 32.9 g/t Ag over 13.4 meters.

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