Falcon Receives Final TSX.V Approval on Viernes Adjacent to Yamana's El-Peñón Gold/Silver Deposit, Antofagasta City, Chile
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / FALCON GOLD CORP. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has received final TSX Venture approval to move ahead on the option to purchase the Viernes project …
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / FALCON GOLD CORP. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to report it has received final TSX Venture approval to move ahead on the option to purchase the Viernes project located 122km SE of Antofagasta City in Northern Chile. The claims encompass 13 claim blocks covering 3,300 Ha. The western portion of the project offers prospectivity for epithermal gold veins as evidenced by outcrops of the Chile-Alemania Paleocene volcano-stratigraphic sequence, which is the same host rock at the El-Peñón Gold Deposit owned by Yamana Gold. Additionally, Barrick Gold in 2015 sold a 50% stake in Zaldívar Mine for a $1.005 Billion in cash forming a partnership with Antofagasta PLC one of the worlds leading copper companies. Antofagasta has an outstanding track record of building and operating mines in Chile, the Zaldívar project is approximately 35kms NE of our claims.
The Viernes project is located at moderate elevation of approximately 2000 meters above sea-level and is 5km east of Yamana Gold's highly profitable El-Peñón low sulfidation gold and silver mine, and 35kms southeast of the world class Escondida-Zaldívar copper hub. The project has year-round access via paved and gravel roads from the mining capital of Chile, known as Region II, Antofagasta.
The Viernes claim block presents Falcon a tremendous opportunity to explore for potential bonanza-grade with epithermal low to intermediate sulfidation gold-silver, and porphyry copper-moly mineralization in one of south Americas greatest mineral endowed Paleocene-Eocene belts. The project is located within a world class cluster with extensive development by Yamana, BHP-Rio Tinto, Antofagasta Minerals amongst others. The property is highly prospective and is adjacent to the epithermal vein-hosted Gold-Silver producing El-Peñón mine in which Viernes may host similar geochemical and structural features. Yamana's latest 43-101 complaint resources and reserves estimates published in March 2021 states total proven and probable mineral reserves of 921,000 ounces of gold and 29.2 million ounces of silver.