Falcon Gold Completes 3 Drill Holes At Central Canada Project
Falcon Gold (TSXV: FG) this morning announced that it has completed a total of three drill holes at its Central Canada project. The drills have now totaled 468 metres, which has been conducted along the Central Canada Mineralized Zone.
The three holes drilled by the contractor on site have successfully intersected what is referred to as a “highly altered felsic intrusive rock”, which has significant mineralization that includes pyrite, arsenopyrite, lead telluride, and most importantly, visible gold.
On an individual basis, the first drill hole, CC20-01, intersected the gold bearing zone over a width of 46.39 meters, from 33.46 to 79.83 metres deep. The drill location was designed to intersect the zone 20 metres west along strike from historic producing shaft on site at the 100 ft production level.
The second drill hole was located a further 70 metres along strike. Results from this location have indicated a gold bearing zone width of 35.33 meters, from a depth of 26.9 to 62.23 metres. The identified zone notably includes a 3.91 metre interval from 31.61 to 35.52 metres deep that hosts significant visible gold mineralization. Such mineralization is associated with arsenopyrite and late stage fractures within the felsic unit. Several sections of greater than 2% pyrite, arsenopyrite, and lead telluride mineralization were also found throughout the zone.
The final hole reported by Falcon Gold was located 155 metres west along strike of the historic shaft from 26.8 to 59.83 metres. The zone was reported as being 32.98 meters wide, exhibiting strong chlorite, fuchsite and ankerite alteration along with more than 2% arsenopyrite mineralization.
In addition to the three drill holes already completed by the company, Falcon Gold has also announced that it is preparing a further six drill pads along strike of the mineralized zone to test the extent of mineralization at the Central Canada project. In total, 344 samples have been collected for assays from the drill core, which have subsequently been submitted to Activation Laboratories in Thunder Bay, Ontario for analysis.
Falcon Gold last traded at $0.065 on the TSX Venture.
FULL DISCLOSURE: Falcon Gold is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Falcon Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
