Falcon Gold Completes First Phase Exploration Program; Intersects 41m
of 18.2g/t Silver at the Washington Silver Property
SUDBURY, ONTARIO -- (Marketwire) -- 11/15/12 -- (TSX VENTURE:FG).
Falcon Gold Corp. ("Falcon Gold" or "the Company") is pleased to
announce it has received assay results from the final three diamond
drill holes completed within the Silver Bell Mining lease at its 100%
owned Washington Silver Project. All three holes confirm the presence
of a well developed Silver (Ag) bearing Epithermal zone characterized
by highly altered rock hosting relatively long intersections of Ag
mineralization which include higher grade Ag intercepts (Table 1).
Hole SB12-01 (reported October 24, 2012) demonstrates the high grade
potential of the zone with an intersection of 167 grams per tonne
(g/t) Ag over 36.5 metres (m) including a high grade intercept of
511.57 g/t Ag and 0.83 g/t Gold (Au) over 9.14 m.
Drill hole SB12-04 intersected 5.8 (g/t) Ag over 106 (m) and SB12-05
intersected 18.2 g/t Ag over 41 m. Hole SB12-06 returned a higher
grade intercept of 63 g/t Ag over 3 m that occurred within a wider
zone of 17 g/t Ag over 14.9 m that extended to the end of the hole
and remains open for extension.
Falcon Gold completed a summer exploration program that included
property wide geological mapping and sampling, detailed geological
mapping and sampling in the Silver Bell open pit, and 678 metres
(2224 feet) of diamond drilling completed in 6 holes. All drill holes
were completed in the area of the Silver Bell Open Pit and are the
first diamond drill holes ever completed on the property.
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)
SB12-04 24 375 351 106.99 0.01 5.87 0.19
inc. 80 115 35 10.67 0.05 25.71 0.83
SB12-05 200 335 135 41.15 0.04 18.27 0.59
incl. 330 335 5 1.52 0.39 204.00 6.56
SB12-06 440 489 49 14.93 0.04 17.12 0.55
incl 450 460 10 3.05 0.15 63.00 2.03
Notes: True widths of mineralization are not known.
The 2012 summer exploration program completed on the Washington
Silver Property is the first work completed since acquisition of the
property, announced on July 15, 2012. Jim Farley, Director of Falcon
Gold, stated, "Results from this initial shallow drill program
confirm the presence of a well developed near surface Silver zone
that has the potential to host significant high grade Silver
mineralization. Additionally, we are very encouraged with results
from the mapping and sampling program that identifies a mineralized
trend extending for approximately 1.5 km which represents significant
potential for discovery."
A link to the map illustrating the location of the Silver Bell pit
drilling and the location of Ag bearing outcrop grab samples can be
viewed at: http://www.falcongold.ca/i/maps/testopen.jpg.
Falcon Gold is in the process of planning and preparing for phase 2
exploration on the Washington Silver property which includes detailed
evaluation of high grade mineralization intersected on the Silver
Bell lease, and surface exploration results to develop drill targets
along the 1.5km mineralized trend and elsewhere on the property.
The Washington Silver Project
The Washington Silver property encompasses approximately 880 acres,
consisting of the Silver Bell Mining Lease (80 acres) and adjacent
exploration claims (800 acres), and is located in the Ferry and
Okanogan Counties in north central Washington State, approximately 14
kilometres (km) northwest of the town of Republic and 50 km south of
the Canada-USA border.
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' 1,800 tpd capacity Kettle River
Mill is located approximately 8 km from the Washington Silver
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
Jamie Lavigne, P.Geo, Vice President Exploration and Director of
Falcon Gold supervised the diamond drilling and geological mapping
programs on the Washington Silver Property and has reviewed and
approved the technical contents in this press release.
Analytical and QA/QC
Assays were completed at ALS Minerals in Reno, Nevada. All samples
received are crushed to 70% of the sample less than 2mm diameter. A 1
kg split of the crushed sample is pulverized to 85% less than 75
microns. Gold is analyzed by Fire Assay on a 30 gram split of the
pulverized sample with an AAS finish (ALS method Au-AA23). Silver is
analyzed by a multi-acid digestion followed by hydrochloric acid
leach and AAS analysis (ALS method Ag-AA61). Samples with Silver
concentrations greater than 5 g/t were re- analyzed using fire assay
on a 30 gram split followed by gravimetric finish (ALS method
Ag-GRA21). QA and QC measures implemented by Falcon Gold include the
use of Certified Reference Materials, sample blanks, and analyses at
a check laboratory.
About Falcon Gold Corp.
Falcon Gold Corp. is a Canadian mineral exploration company focused
on generating, acquiring, and exploring quality mining opportunities
in the Americas.
On Behalf of the Board of Directors
FALCON GOLD CORP.
Edward Stringer, President, CEO and Director
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 therefor, 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.
Falcon Gold Corp.
Manager, Corporate Communications
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