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Falcon Completes First Drill Hole at its Central Canada Gold Project

Apr 21, 2020

Vancouver-based FALCON GOLD CORP. announced completion of drill hole CC-20-01 at the Central Canada Project. The hole was drilled to a depth of 201 metres and targeted the Central Canada Mineralized Zone along strike from the historical Central Canada Mine. The hole is the first of a series of planned holes in a 1,000 meter program. 

Hole CC-20-01 has successfully intersected three (3) sulphide-telluride mineralized zones to a depth of 148 metres. An initial 42-metre-wide zone of highly altered gabbro and quartz porphyry has been examined with strong sulphide and telluride mineralization noted throughout the interval. An additional two (2) zones of comparable sulphide mineralization have been sampled at 102 metres and 147 metres down hole. Sulphide mineralization exhibits a high correlation to chlorite-ankerite-sericite alteration and quartz-tourmaline veining. The structure and mineralization observed in the core is consistent with the characteristics of the mineralization hosting gold identified by previous operators' drilling and surface exploration campaigns.

Gold mineralization has been traced across the Central Canada structure with more recent drilling by Interquest Resources Corp. in 1985 intersecting over 1 meter @ approximately 30 g/t gold in diamond drill core and 23.3 meters @ 0.83 g/t gold and 10.61m @ 1.32 g/t gold in 2012 by Terra-X Minerals. Trenching work in 2011 indicated significant gold mineralization to the south of the historic Sapawe Gold Mine, where the operator sampled up to 6.7 g/t gold along a strongly mineralized shear zone.

Gold prospects at the Central Canada Project are typically associated with quartz-porphyry dykes and sills with later-stage quartz veins which cross cut host metavolcanic, felsic intrusive and gabbroic units, and with regional structures with significant mineralization having been observed in highly mineralized shear zones and structurally associated quartz veins. Commercial operations in the region are associated with large shear zones.

The largest proximal known deposit is the Sapawe Gold Mine with an unclassified historical resource of 528,614 tonnes @ 0.31 oz/t gold calculated by Sapawe Gold Mines Ltd. in 1995, and which milled 33,013 tonnes of mineralized material to produce 4,547 oz gold and 1,315 oz silver. Significant gold mineralization of up to 24 g/t has also been identified in the halo of the original Sapawe Mine 

Falcon's current campaign of drilling is intended to confirm the mineralization on the Central Canada Mineralized Zone and to step off the Zone to test structural splays for additional mineralization. The step off targets are supported by surficial and soil samples that suggest potential, and are being targeted to so as to expand the project footprint of mineralization.

CEO Karim Rayani says the company will settle the second anniversary property payment to the Central Canada Gold Group Concession holders for a total of 1,000,000 shares at a deemed price of $0.05 per share, subject to Exchange approval.

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