Falcon Gold Intersects Gold-Bearing Quartz Vein System, Great Burnt Project

Core Viewpoint - Falcon Gold Corp. has reported encouraging results from its Phase I diamond drill program at the Great Burnt Project, confirming the presence of a widespread gold system despite initial setbacks with drilling contractors [2][5]. Project Overview - The Great Burnt Project is located in South-Central Newfoundland, strategically positioned between significant mineral discoveries, enhancing its prospectivity [3]. - The project area is characterized by silicic volcanic and sedimentary rocks known for hosting copper and gold mineralization, with regional structures acting as conduits for mineralizing fluids [4]. Phase I Drill Program - Key Results - The initial drill holes GB24-01 and GB24-02 did not reach the target horizon, but subsequent holes GB25-01 to GB25-03 successfully intersected a large alteration system with gold mineralized veins [5][6]. - The total drilling for GB25-01 to GB25-03 amounted to 524 meters, targeting a 250-meter strike length to a maximum depth of 140 meters [5]. - Notable results include: - GB25-01: Gold values ranging from 7 to 146 parts per billion (ppb) Au [9] - GB25-02: Gold values between 19 to 107 ppb Au [9] - GB25-03: A new zone of quartz veining yielding 137 ppb Au over 0.60 meters [9]. Project Logistics and Next Steps - Logistical challenges due to limited road access and heavy snowfall have impacted operations, prompting the company to pause further drilling to conduct induced polarization (IP) surveys and other geophysical studies [10][11]. - The company plans to invest in infrastructure improvements, including a fully serviced exploration camp and upgraded road access, to enhance project access and reduce operating costs [10][12]. - Future work will focus on detailed geophysics to clarify the structural framework and refine drill targets for an expanded Phase II drill program [11][13].