Great Burnt, NL - Falcon Gold Corp

Great Burnt, NL

Falcon 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.

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.  

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

Commentary

“We are extremely pleased to have acquired yet another land package that lies in a metal endowed greenstone belt of Central Newfoundland that has seen very little systematic exploration. This property not only has the potential to host important Exploits Subzone orogenic gold mineralization but also copper-rich massive sulphides that contain gold “said Karim Rayani, Chief Executive Officer of Falcon Gold Corp. “We look forward to performing a high resolution airborne magnetic and electromagnetic survey over our entire property position and integrating mineralization trends and historical results to vector exploration efforts to those areas of high merit.”

Qualified Person

The technical content of this property has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Great Burnt property claim group particularly regarding historical exploration, neighbouring companies, and government geological work.