Falcon’s Chief Executive Officer, Issues Corporate Update Letter - Seite 2

Foto: Accesswire

Figure 1. Gold-bearing zones of the Central Canada gold project.

The company is now ready to begin an exciting chapter in its future exploration efforts at Central Canada. Plans are in place to begin a Phase 3 drilling program. The objective of the drilling will be to target the gold mineralization in the J.J. Walshe shaft area and to test other strong gold-bearing zones such as the No. 2 Vein, the Sugar Shear Zone and drill the Honey Zone. As the snow melts in the spring, summer programs will consist of further mapping, ground-truthing the targets of merit highlighted by the AI analyses, stripping and a Phase 4 drill program scheduled for the fall of 2022.

Newfoundland Acquisitions

Falcon continues to search out opportunities and build value by project generation and has made a number of acquisitions in Central Newfoundland as of late. The Hope Brook and Baie Verte Projects are the first in a number of announcements to come. Both these acquisitions are very strategic in our long-term objective of securing key areas that have seen little historical exploration and host structural similarities to the recent success of the Newfoundland exploration boom. The ever-evolving understanding of the geological nature of the central Newfoundland gold belt is also presenting opportunities through the success of First Mining, Sokoman-Benton JV and Matador Resources which all have a large presence in the area with defined resources. Matador's Cape Ray deposit hosts 837,000 ounces of Au at an average grade of 2 g/t and is contiguous to Falcon's ground. First Mining's Hope Brook project located to the south of Falcon has a resource of 5.5 million tonnes containing 844,000 ounces Au grading 4.77 g/t. Falcon's claims are located along the same structural trend as the Hope Brook Project.

Not only known for its gold the Hope Brook camp is quickly becoming an area of interest for lithium, just recently the Benton - Sokoman JV announced the first lithium-bearing pegmatite discovery located 400m meters away from our property boundary. Recent geophysical interpretation shows the same controlling structures that host the Kraken Pegmatite dyke swarm discovered by Benton-Sokoman extend onto Falcon's ground. Falcon now controls a large footprint in the Hope Brook camp of the southern central Newfoundland gold belt along key structural trends and the discovery of lithium in the area presents an additional layer of potential success for more discoveries. The Company has applied for the necessary permitting and is looking forward to mobilizing crews as soon as conditions allow.

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