Falcon Gold Announces Commencement Drilling on the Burton Property
and Financing Engagement
SUDBURY, ONTARIO -- (Marketwire) -- 12/13/12 -- Falcon Gold Corp.
(TSX VENTURE:FG), ("Falcon" or the "Company") is pleased to announce
the commencement of diamond drilling on the Burton Gold Property. The
drill program, planned to be approximately 1,500 metres, is being
completed to test targets derived from Induced Polarization (IP) and
soil geochemistry surveys completed during the summer. The summer
exploration program and the drilling program now being initiated are
part of Phase 1 of the Option Agreement with Trelawney Mining and
Exploration Inc., an indirect wholly owned subsidiary of IAMGOLD
Corporation (IAMGOLD), previously announced on February 22, 2012.
About The Burton Property
The Burton Gold Property is located in the Swayze Greenstone Belt,
Northeastern Ontario, approximately 150 kilometres (km) south of
Timmins and 180 km north of Sudbury. The property is well-positioned
in a very actively explored district. The Burton Property is
approximately 38 kms northwest of the IAMGOLD Cote Gold Deposit which
has an indicated resource of 131 million tonnes at an average grade
of 0.84 grams per tonne ("g/t") (3.56 million ounces gold) and an
inferred resource of 165 million tonnes at an average grade of 0.88
g/t (4.66 million ounces gold)(1). The Property is also located
approximately 10 km northwest of the past producing Jerome Gold Mine
which produced 56,878 ounces gold from 1941 to 1943 (303,966 tonnes @
Historical diamond drill intercepts at the Burton Property include
9.34 g/t over an intersection length of 7.75 metres ("m") at the
Shaft Zone and 12.47 g/t over an intersection length of 3.13 m at the
East Zone. Diamond drilling completed by Falcon Gold during 2011
included 3.74 g/t Au over an intersection length of 9.96 m (including
10.98 g/t Au over 2.17 m) and 3.25 g/t Au over an intersection length
of 10.35 m (including 5.65 g/t Au over 2.85 m) at the Shaft Zone
(Press Releases of July 27/2011 and September 12/2011.)
The Burton Gold Property is road accessible and consists of 6
patented mining claims and 16 unpatented mining claims encompassing
22 claim units (356 hectares) located in Esther Township, Porcupine
Mining Division, Ontario.
(1) - Data from IAMGOLD Corporation press release dated October 4, 2012
(2) - Data from Ontario Ministry of Northern Development and Mines, 1988
The Company has also engaged Nottingham Consulting Ltd. who will
endeavour to obtain for Falcon Gold a private placement of up to
$800,000 of units consisting of common shares and one half common
share purchase warrants, and flow through shares. Pricing of the
units and of the flow through shares is $0.10 and $0.13 respectively.
Qualified Person and NI 43-101 Disclosure
Jamie Lavigne, P.Geo. VP Exploration for Falcon Gold is the Qualified
Person, as defined in National Instrument 43-101, who has reviewed
and approved this press release and is responsible for the technical
information reported herein.
About Falcon Gold Corp.
Falcon Gold Corp. is a Canadian mineral exploration company focused
on generating, acquiring, and exploring mining opportunities in the
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, native issues, 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
Cell: 647-991-2473 (BIRD)
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