Falcon Gold Expands Ground In Great Burnt Copper District, Central Newfoundland

VANCOUVER, BC / ACCESSWIRE / October 31, 2023 / Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("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.

Foto: Accesswire

Figure 1. Regional location of Falcon's Great Burnt copper property

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 Resources-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.

Foto: Accesswire

Figure 2. Location of the Falcon Gold acquisition proximal to Spruce Ridge Resources.

Foto: Accesswire

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."