Your browser does not support javascript

FG:TSX-V $0.05

Washington Silver Property

Overview

The Washington Silver Bell property encompasses approximately 880 acres and is located in the Republic Mining District in north eastern Washington State.

The district has been an active precious metal mining region for over 100 years. A number of past producing silver and gold mines collectively represent an Epithermal Ag-Au district which extends from Northern Washington into British Columbia. Hecla Mining operated the Knob Hill Mine near Republic, which produced an estimated 2.4 million ounces of gold before closing, and current projects in the region include Midway Gold's Golden Eagle deposit (discovered by Hecla Mining in 1988) and Kinross Gold Corporation's Buckhorn Gold deposit and K1/K2 deposit. Kinross's 1,088 tpd capacity Kettle River Mill is located approximately 8 km from the Washington Silver Bell Property.

Silver was first discovered in the area of the Washington Silver Property in 1897 and the property has had a sporadic production history including 1907, 1940, and 1980-1983. During the period
1980-1983 production came from the Silver Bell Open Pit located on the Silver Bell Mining Lease. The property contains a number of Au and Ag showings consisting of veins, vein stocks works, and siliceous breccias consistent with the district style of epithermal mineralization.

Falcon completed an exploration program in 2012 that included property wide geological mapping and sampling, detailed geological mapping and sampling in the Silver Bell open pit, and diamond drilling in the area of the Silver Bell. Collectively, the Silver Bell and the mapped altered and brecciated volcanic rocks with associated mineralization form a potential trend of mineralization approximately 1.5 km long.

Falcon completed 678 m (2224 ft) of drilling in 6 holes in the area of the Silver Bell pit. Assay results and significant intersections are contained in Table 1 below. Hole SB12-01 demonstrates the high grade potential of the zone with an intersection of 167 g/t Ag over 36.5 m including a high grade intercept of 511.57 g/t Ag and 0.83 g/t Au over 9.14 m.

The drilling confirms the presence of a well developed Ag bearing Epithermal zone characterized by highly altered rock hosting relatively long intersections of Ag mineralization which include higher grade Ag intercepts.


TABLE OF SIGNIFICANT INTERCEPTS, SILVER BELL OPEN PIT DRILLING
Hole ID From (ft) To (ft) Length (ft) Length (m) Au (gpt) Ag (gpt) Ag (opt)
SB12-01 0 120 120 36.58 0.28 167.15 5.37
includes 75 105 30 9.14 0.83 511.57 16.45
SB12-02 5 40 35 10.67 0.31 121.01 3.89
SB12-02 5 25 20 6.1 0.03 203.18 6.53
SB12-02 180 250 70 21.33 0.03 15.84 0.51
includes 225 250 25 7.62 0.06 24.63 0.79
SB12-02 340 345 5 1.52 0.38 135 4.34
SB12-03 250 260 10 3.05 0.04 20 0.64
SB12-04 24 375 351 106.99 0.01 5.87 0.19
includes 80 115 35 10.67 0.05 25.71 0.83
SB12-05 200 335 135 41.15 0.04 18.27 0.59
includes 330 335 5 1.52 0.39 204.00 6.56
SB12-06 440 489 49 14.93 0.04 17.12 0.55
includes 450 460 10 3.05 0.15 63.00 2.03

Notes: True widths of mineralization are not known.