By Cory Falco Updates On Horne 5 Project Development And Exploration Activities
Here is the latest news from Falco Resources. This provides a full recap of the Horne 5 development which continues to move along as planned. The exploration updates are what I focus on here. There are 13,250 samples still to get back from the lab that came from the 2017 drill program but most notably are the plans for 2018 on the Donalda property. After raising C$8.5 million in late 2017 they are cashed up and ready to explore the property that is 800 meters east of the Horne 5 deposit. If the drilling hits good grades this could add a nice boost to the stock price.
Click here to listen to the most recent interview with Falco CFO Vincent Metcalfe.
Also click here to visit the Faclo website for more information.
I will be chatting with Vincent regarding this news by early next week. If you have any questions please comment or email me directly.
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MONTREAL, QC –(Marketwired – January 10, 2018) – Falco Resources Ltd. (TSX VENTURE: FPC) (“Falco” or the “Company”) is pleased to provide the following update on its development of the Horne 5 Project (the “Project”), exploration and corporate activities.
HORNE 5 PROJECT DEVELOPMENT:
Community Relations and Permitting The Company has continued its community outreach program and held on November 16, 2017 its initial project presentation and session in Rouyn-Noranda. Approximately 140 individuals attended the meeting and heard Company representatives outline the various aspects of the Project, and respond to their observations and questions.
The Company has also been advised by the Canadian Environmental Assessment Agency (Government of Canada) on December 6, 2017 that the Project is not a designated activity under the Regulations Designating Physical Activities pursuant to the Canadian Environmental Assessment Act, 2012. Therefore, the Project is not subject to the federal environmental assessment; however, there will be other federal authorizations to be obtained.
Pavillon Quemont School Construction The Pavillon Quemont School (“Pavillon”) construction program is advancing very well. The building was erected, closed off and winterized prior to year-end. The Pavillon construction program is 30% complete and Falco is on schedule to deliver the Pavillon to the local school board of Rouyn-Noranda for September 2018. The relocation and construction costs of the Pavillon are estimated at $22.5 million.
Hoisting System Construction and Delivery of Key Components Construction of the hoist building that will host the auxiliary and service hoists commenced in December 2017 and is expected to be completed during the second quarter of 2018. The hoist building construction will enable the Company to start the mine dewatering and Quemont shaft rehabilitation efforts efficiently and safely.
Key auxiliary and service hoisting system components were shipped to site on December 22, 2017. The Company anticipates assembling the two hoists following the completion of the hoist building.
Acquisition Program The Company also acquired land, surface rights and strategic buildings near the Project footprint. As such, the Company acquired specific infrastructure and buildings from third parties, exercised its existing option to acquire land from the city of Rouyn-Noranda, and signed several other agreements. The total purchase price of these acquisitions was $9.0 million.
Dewatering Program Major equipment for the water treatment facility and pumping system were ordered. The water …read more
Source:: The Korelin Economics Report
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