HIGHLIGHTS:
- Coomer Lake property increased from 144 to 800 hectares;
- Property encompasses a continuous strike length of 7 kilometres of favorable stratigraphy;
- Historical diamond drilling high-grade intercept of 4.90 meters of 0.75% V2O5, 7.56% TiO2;
Falcon Gold Corp. (TSXV:FG) (“Falcon” or the “Company”) is pleased to report it has acquired through staking, a further 41 mining claim units that are contiguous with its Coomer Lake Vanadium-Titanium property in the James Bay Lowlands in the Porcupine Mining Division of northern Ontario. As announced on September 5th, 2018, Falcon has the right to earn a 100% interest in the Coomer Lake property that now comprises an area of approximately 800 hectares (“ha”).
Stephen Wilkinson, Falcon’s CEO stated: “The Vanadium-Titanium mineralization on Coomer Lake property may not be exposed at surface but is associated with a strong, arcuate magnetic anomaly. This geophysical signature has been mapped for several kilometers and our new ground covers what we consider to be the best part of a potentially high-value asset.”
The Coomer Lake V-Ti Property
The Property is located within numbered township BMA 524861 of the Porcupine Mining Division, District of Cochrane, 250 kilometres (“km”) north of the town of Nakina, Ontario, and approximately 40 km south of Noront Resources Ltd. mining leases at the Ring of Fire developments. Noront’s proposed north-south access corridor is 12 km east of the Property. The Property is accessible only by floatplane and boat. The Attawapiskat River is the main waterway and is less than 1,000 m east of the boundary of the Property.
The Coomer Lake area occurs within the Archean-age Sachigo Subprovince of Northwestern Superior Province. The Fishtrap Intrusive Complex underlies the Property and is a differentiated mafic intrusive body which for the most part does not outcrop and is covered by glacial till. A high resolution airborne magnetic survey completed in 2003 defined the banded and folded complex reflecting the fractionated lithologies of the layered intrusion.
The vanadium and titanium mineralization occurs within a magnetite-rich band within the Fishtrap intrusion. The band shows a strong geophysical anomaly that has an arcuate signature with an overall 26 km strike length. In a news release dated February 12, 2007, Northern Shield Resources Inc. reported diamond drill hole, 06HB-04, intersected massive magnetite over a width of 4.9 m that averaged 0.75% V2O5 and 7.56% TiO2. Another 13 drill holes were completed by Northern Shield on other locations of the intrusion with the objective of discovering platinum group metals and chromium mineralization. No follow-up on the vanadium and titanium occurrence have been reported despite the encouraging geophysical anomaly.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Bob Chataway, 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. Its Canadian projects include; the Central Canada cobalt, gold project and the Wabunk cobalt, copper project in N.W. Ontario, and the Burton gold property located near Sudbury, Ontario. Falcon also has an agreement to acquire seven (7) contiguous mineral concessions covering an aggregate area of 20,461 ha located within the Sierra de Las Minas District, Argentina which is known to be host to several past producing gold, copper and silver mines. The Company has 32.9 million common shares outstanding and is listed on the TSX Venture exchange with the trading symbol: “FG”. For information on the Company, please visit our website: www.falcongold.ca.
CONTACT INFORMATION:
Falcon Gold Corp.
David Tafel
Chairman
Stephen Wilkinson
CEO & Director
Telephone: 604-683-1991
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.
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.
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