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Falcon releases strong results from drill program, Central Canada Gold Mine near Atikokan

Sep 17, 2020

FALCON GOLD has received fire assays for two diamond drill holes, CC20-03 and CC20-07 and partial results for holes, CC20 -04, -05 and -06 , from its Central Canada Gold Mine project, near Atikokan in north-western Ontario. The Company's holes; CC20-01, -02 and -03, plus the three historical drill holes; CC12-01, -02 and -03 completed in 2012 by TerraX Minerals Inc. ("TerraX") were collared in the vicinity of the Central Canada mine shaft and each intersected the gold-mineralized mine zone. The previously announced CC20-01 and CC20-02 (Falcon's release dated, July 16, 2020) were drilled west of the historic mine shaft with hole CC20-02 initially confirming the high-grade mine trend for approximately 75 meters ("m") of strike to west-southwest of the shaft.

Falcon's hole, DD20-07 was collared north of the shaft and successfully targeted the mine trend approximately 10m east of the shaft and at a depth of 70m below surface. The assays and intersections of the mineralized gold zones in hole, CC20-07, are given in Table 1. The hole intersected four zones, each mineralized with sulphide minerals and significant gold grades ranging from anomalous (200 parts per billion gold [ppb Au]) up to 7.230 grams per tonne gold ("g/t Au"). 

Table 1: Assay results for drill hole, CC20-07, intersection of Central Canada Gold Mine main gold zones.

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To view an enhanced version of Table 1, please visit:

Falcon's Chief Executive Officer, Karim Rayani commented, "These continued encouraging results from the Central Canada mine's main trend are confirming our belief in the existence of the historical mine resources and its potential in this gold market. When taken in conjunction with the drilling results of our predecessor, we are now planning our second stage of infill and definition drilling with the intent of advancing the project to the resource estimation stage. I will soon be announcing our next stage of drilling that will aim to support Falcon's inaugural NI43-101 resource."

Table 2: Assay results for the 3 TerraX drill holes, CC12-01, -02 & -03, intersection of Central Canada Gold Mine main gold zones. Collar locations are plotted on the surface plan (Figure 1.)

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To view an enhanced version of Table 2, please visit:

The drilling in the vicinity of the Central Canada shaft (located in the middle of the plan in Figure 1.) includes the TerraX holes; CC12-01, -02 and -03 plus Falcon's recent holes; CC20-01, -02 and -07. These drill holes all contain intersections within the Central Canada mine zone with visible gold common and of grades greater than 1.0 g/t Au and up to 23.11 g/t Au within broader mineralized halo zones up to 10.6m averaging 1.323 g/t Au (Table 2.).

Hole CC20-03 was collared approximately 125m west of the shaft and was terminated at approximately 87m. It did not reach its target depth. Hole -03 did encounter gold zones such as a 4m intersection from 34m to 38m of altered felsic intrusive unit containing veins of sulphide mineralized quartz. Within this intersection, 1m returned a strongly anomalous assay of 0.489 g/t Au.

Next Steps

As already stated above, Falcon intends to commence a second stage of drilling to infill and further define the Central Canada mine trend. However, the sampling and assaying will be completed of holes CC20-04, -05 and -06 before the start of the second drill campaign. In addition, the Company will be commencing with the modelling of the Central Canada mine gold zone(s) based upon its drilling plus the TerraX holes. 

Falcon's geological team will also be attempting to include in the model the diamond drilling and surface work completed by Anjamin Mines Ltd. In 1966 and 1967, Anjamin Mines reportedly completed trenching, sampling and diamond drilling on the Central Canada property near the historically producing shaft. Three short holes were drilled. S1 had an intersection of 6.9 g/t Au across 1.5 feet, S2 returned 37 g/t Au over 2 feet, and S3 had 44 g/t Au over 7 feet (Anjamin Mines News Release, 1966). In a 1967 assessment report, incomplete drill logs for up to 20 holes were found but no assays were reported.

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