Falcon’s Hope Brook Gold Property
Falcon’s new land acquisition is hosted within the Exploits Subzone of the central Newfoundland gold belt. The property covers extensions or is proximal to two major structures linked to significant gold prospects (Cape Ray, Matador Mining) and deposits (Hope Brook, First Mining) in southern Newfoundland (Figure 2). Rock lithologies and structures on the property are also related to those associated with Marathon Golds Valentine Gold Deposits, Sokoman’s Moosehead gold project and New Found Gold’s Queensway gold project. Falcon’s land position straddles both the eastern and western extents of recent land acquisitions by the Sokoman/ Benton JV partnership with Falcon now controlling areas of considerable structural complexity marked by large scale fold and fault structures which provide important structural controls (traps) for gold mineralization within this area.
Falcon’s Chief Executive Officer, Karim Rayani commented, “Exploration activity within Newfoundland continues to accelerate with no sign of slowing down. We are thrilled to position Falcon Gold in this very strategic land position. The Hope Brook mine was and is a very significant gold deposit intimately associated with structure. Falcon’s land is situated in a very active structural corridor giving us a tremendous opportunity for success. This key acquisition covers 996 claims totaling 24,000 hectares and is directly tied onto First Mining; Sokoman & Benton’s JV and now Marvel Discovery.”
Within this immediate area, the most significant deposit is the Hope Brook gold mine which was in production from 1987 to 1997 producing 752,163 ounces of gold. The Hope Brook deposit is now owned by Coastal Gold Corp who have outlined an additional 6.33 million tonnes at an average grade of 4.68 gpt Au for 954,000 ounces of gold in the indicated and inferred categories.
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Hope Brook property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.