Falcon Gold Targets Expansion of High-Grade Gold System with New Exploration Permit Application at Central Canada Project, Ontario

Core Viewpoint - Falcon Gold Corp. has submitted an Exploration Permit Application for its Central Canada Gold Project, aiming to expand known gold zones and test new high-priority targets identified in previous exploration programs [1][2]. Group 1: Project Details - The Central Canada Gold Project is located near Atikokan, Ontario, and is strategically positioned 20 kilometers southeast of Agnico Eagle Mines' Hammond Reef deposit, which contains 3.3 million ounces of gold in open pit probable mineral reserves [3][12]. - The project lies within the Marmion Terrane and is underlain by a northeast-trending splay of the Quetico Fault Zone, a significant regional gold-bearing structure [3]. Group 2: Drilling Program - The submitted permit will allow Falcon to drill up to 20 diamond drill holes along a 1.6-kilometer strike length, following up on previous successful drilling campaigns where 15 of 17 holes intersected gold mineralization [4][5]. - Highlighted intercepts from prior drilling include 10.17 g/t Au over 3.0 m, 2.8 g/t Au over 7.5 m, and 18.6 g/t Au over 1.0 m, indicating a continuous gold system [8]. Group 3: Corporate Strategy - The company has decided not to renew its property option on the Viernes project in Chile to focus on Canadian assets, which are seen as having stronger long-term value and a more mining-friendly environment [9]. - Falcon is actively working to renew and expand existing permits across its portfolio, with the Central Canada project being its most advanced stage project [6].