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Falcon Executes Agreement on Cobalt and Gold Claims in Northwestern Ontario
HIGHLIGHTS: Located in historic mining camp of iron, gold, nickel , cobalt and...
About this update from Falcon Gold Corp.
[{"type":"text","content":"Falcon Executes Agreement on Cobalt and Gold Claims in Northwestern OntarioHIGHLIGHTS:Located in historic mining camp of iron, gold, nickel, cobalt and copper mines;Close to major mines and developments such as the Agnico Eagle's Hammond Reef gold project;Numerous cobalt, copper and gold occurrences that have seen historical surface & shallow drilling;Important infrastructure including highway and rail access, and electrical power and natural gas pipeline;Low cost of entry and acquisition.Vancouver, British Columbia--(Newsfile Corp. - January 23, 2018) - FALCON GOLD CORP. (TSXV: FG) (\"Falcon\" or the \"Company\") is pleased to announce it has signed a letter agreement (the \"Letter\") for the right to acquire a 100% interest in six (cobalt, copper, gold) mining claims straddling the boundary of McCaul and Hutchinson townships in northwest Ontario. The claims comprise 55 claim units and cover an area of approximately 880 hectares. Stephen Wilkinson, Falcon's CEO stated: \"There is a close association with certain gold (\"Au\") deposits and historic cobalt (\"Co\") occurrences in the greenstone belts east of the past producing Atikokan iron mines. Both the Co and Au occurrences are reported in files and publications of the Ontario Ministry of Northern Development and Mines associated with a regionally extensive iron formation where the sulphide-rich parts of the iron formation contain Co- minerals and as well as gold and copper.\"The PropertyThe Property is approximately 18 kilometres (\"km\") east of Atikokan, Ontario and the port city of Thunder Bay is about 160 km to the east-southeast. Access to the Property is by road from Provincial Highway 11 along secondary highway 623 to Sapawe Lake. Much of the Property is also accessible by several other unmaintained and private roads. The Canadian National Railway line runs east-west immediately south of the Property. The Atikokan electrical generating station is located 5 km north of the town. The station which was recently converted from coal-burning is reportedly North America's largest 100% biomass-fuelled power plant. A natural gas pipeline and electrical transmission lines cross the Property near the west end of Sapawe Lake. The Property is positioned along 10.6 km of the trend of a metasedimentary-meta-volcanic greenstone belt that hosts the targeted cobalt and gold occurre...