Vancouver, B.C., February 14, 2019. FALCON GOLD CORP. (“Falcon” or the “Company”) is pleased to report on the results of check analyses and assays of select samples from its 2018 exploration program on the Esperanza Resources S.A. (“ERSA”) mineral concessions located in La Rioja Province, Argentina. Thirteen samples were selected for the checks where the original results included very high-grade gold analyses and in samples with visible gold. In addition, certain of the silver, copper, lead or zinc results were beyond the detection limits of the initial analytical method and required further definition.
Table 1: Comparison of the original analytical results for the 2018 exploration program on Falcon’s Argentine concessions, ERSA VIII, IX & X, with the check assays. The check gold assays represent the weighted average of screened fine and coarse fractions. See Table 2 attached to this release for the original and complete analytical results.
Stephen Wilkinson, Falcon’s CEO commented, “The very high grades of gold, silver and copper found within Esperanza project have not only been confirmed but we are pleased the results are so well reproducible. The outstanding grades achieved for the base and precious metals are noteworthy. Our 2019 field programs will be adjusted and expanded to search for other like high grade zones within the laterally extensive host structures.”
Comments on the Results
Historical work has generated limited similar multi-element analyses for comparison. However, the reproducibility of the high-grade gold assays is a positive, possibly indicating that standard fire assay could be a reliable method for determining grades even in the presence of coarse visible gold particles.
Even though the grades of silver and gold vary independently, the very high grade silver assays (greater than 100 g/t) are associated with comparably high grades of the base metals; copper, lead and zinc. With only one exception so far, these high base metal analyses are also accompanied with strong gold numbers. The implication for these results is that new zones of gold mineralization may be discovered through the use of geochemical surveys to identify priority targets. Historical exploration work has (over limited areas) employed stream sediment geochemical sampling. Falcon’s team will be re-examining these surveys and may expand the survey areas of the ERSA concessions to look for new copper, lead and zinc anomalies as an effective tool for discovering gold mineralization.
The ERSA Property
The ERSA Property is comprised of seven (7) mineral concessions covering an aggregate area of 20,461 hectares ("ha") within the renowned Sierra de Las Minas District, which is reported to host several past producing gold and silver mines. The Property is located about 50 kilometres (“km”) south-southeast of the town of Chepes. The city of San Juan is about 250 km by paved highway to the west-southwest.
The first discovered gold mineralization within the District reportedly occurred within the ERSA IX concession in or about 1865 and is referred to as the “Callanas occurrences”. Limited mining has been conducted on gold, silver and copper zones within the Callanas areas.
Dr. Daniel Rubiolo, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.
About Falcon Gold Corp.
Falcon is a Canadian based mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Its Ontario, Canada projects include: the Central Canada cobalt, copper, gold project; the Coomer Lake vanadium and titanium project; the Wabunk Bay cobalt, copper and nickel project, and the Burton gold property. Falcon also has an agreement to acquire 20,461 hectares within the Sierra de Las Minas District, Argentina which has hosted several past producing gold, copper and silver mines. The Company has 38,020,184 common shares outstanding and is listed on the TSX Venture exchange with the trading symbol: “FG”. For information on the Company, please visit our website: www.falcongold.ca.
Falcon Gold Corp.
Telephone: +1 604-683-1991
Cautionary Language and Forward-Looking Statements
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. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Table 2: Summary of the sampling and original analyses results for the 2018 exploration program on concessions, ERSA VIII, IX & X. Note the high-grade gold beyond the analytical detection limit of 10,000 ppb Au were assayed for better upper grade results.