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TSXV:FG $0.03 OTCQB:FGLDF $0.0252 FSE:3FA 0,0125 €
TSXV:FG $0.03 OTCQB:FGLDF $0.0252 FSE:3FA 0,0125 €
Victoria West (the “Property”) consists of 166 claims (4,150 hectares) and is contiguous to Marvel Discovery Corp, Benton Resources, Buchans Minerals Corp. and a significant land package staked by Shawn Ryan.
In early 2011, Buchans Minerals and Benton Resources completed prospecting activities in the immediate area that identified abundant mineralized quartz vein material containing trace to several percent sulphides. Analytical results of the grab samples assayed between 1.65 to 18.24 g/t Au and between 5.4 to 87.1 g/t Ag in subcrop samples. Grab samples from outcrop assayed up to 8.52 g/t Au and 30.7 g/t Ag.
Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte–Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone (Figure 2). The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp,) in the footwall of the Victoria Lake Shear Zone. To date the Marathon Gold has discovered five deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au.
Also notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au (https://matadormining.com.au/cape-ray/). Recent structural interpretations of regional scale geophysical surveys led Falcon Gold to the staking of this land package due numerous interpreted oblique trends and tertiary splay zones which are considered highly prospective for gold mineralization.
