In addition, the team intends to expand its attention onto the other high-priority gold targets along strike and paralleling the mine trend.
In its release of March 18, 2021, Falcon reported the last of the 17 drill holes of the initial drilling campaign by the Company in 2020.
Mr. Karim Rayani, Falcon’s Chief Executive Officer, commented, “We are looking forward to commencing phase 3 drilling shortly, the intent is to target the historic shaft area initially and complete further infill along the 275 m strike of the Central Canada mine trend.
In addition to the mapping of the outcrop exposures of the Central Canada mine trend, Falcon has begun the reinterpretation of the 2020 heliborne high-resolution magnetic and time-domain electromagnetic survey utilizing artificial intelligent computer analyses.
The intent will be to target the gold mineralization in the shaft area and to test other excellent gold zones such as mineralized quartz-feldspar porphyries and the Northern Vein also known as the No.
In Figure one, it is evident the gold enrichment appears greatest in the vicinity of the mine shaft.
A report in the 1985 Ontario Geological Survey, Open File Report 5539 described the QFZ mineralization near the Central Canada claims as a massive sulphide zone located beneath Sapawe Lake of two parallel sulphide zones.
An historical drill intersection known as the Staines Occurrence on Falcon’s claims at the west end of Sapawe Lake had reported a wide sulphide-rich zone averaging 0.64% Cu, 0.15% Co, 1.1% Zn and 0.35 g/t Au over a true width of 40 m.
Falcon’s flagship project, the Central Canada Gold Mine, is approximately 20 km south east of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold and may be the control for the gold deposit.
Development work included 1,829 m of drilling and a vertical shaft to a depth of 45 m with about 42 m of crosscuts and drifts on the 100-foot level.
The Company holds 5 additional projects.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc.