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Falcon Expands Wabunk Bay Platinum Palladium Base Metals Project in Red Lake Ontario
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2020) - FALCON GOLD CORP. (TSXV: ...
About this update from Falcon Gold Corp.
[{"type":"text","content":"Falcon Expands Wabunk Bay Platinum Palladium Base Metals Project in Red Lake OntarioVancouver, British Columbia--(Newsfile Corp. - February 11, 2020) - FALCON GOLD CORP. (TSXV: FG) (FSE: 3FA) (\"Falcon\" or the \"Company\") reports it has expanded the land position at its Wabunk Bay - AU-PGM-CU-NI project, located in the Red Lake District of northwestern Ontario. The company has staked an additional 25 units totaling 550 hectares of land. The Wabunk Bay project is located within the Uchi geological subprovince which hosts; the world-renowned Red Lake gold deposits, the Dixie project currently being drilled by Great Bear Resources (GBR.V), and the historic producing South Bay Mine (1.6 Mt. at 14% Zn, 2.5% Cu and 120 g/t Ag). The acquisition of the land is a strategic move to include a large mafic intrusion which boasts massive sulphide mineralization discovered by Selco Exploration Co. Ltd. in 1970 including a 45-meter interval of varying semi-massive to massive sulphide mineralization. Campbell Island Mines also noted a large magnetic anomaly over this area in 1956 but little work has been done to assess the economic potential. The company plans to explore for Ni, Cu, Pt, Pd as the mafic intrusion immediately west (optioned by Falcon) historically hosts base and precious metals. Highlights of this include 2.66% Cu and 0.39% Ni over 6.9 m from diamond drilling by Campbell Island Mines. Falcon 's 2019 brief field program resulted in grab samples assaying up to 760 ppb Au, 2720 ppm Ni, 4780 ppm Cu, 171 ppb Pd, and 221 ppb Pt.The property expansion includes a large regional structure, named the Uchi Lake Deformation Zone \"ULDZ\" which holds the potential for gold mineralization. This area is currently being explored by Argo Gold Inc. (ARQ:CSE) on their Woco Gold project ~6km southwest along the ULDZ. ARQ's recent announcement has indicated that Eric Sprott has intended to take up the entire offering of the 1,200,000 units (\"Units\") at a price of $0.09 per Unit. The Woco zone is a vein-hosted gold discovery with historic intersections of up to 51.9 g/t Au over 1.31 meters and recent drilling reported by Argo Gold Inc. of 132 g/t Au over 1.8 metres. This zone also exhibits vein-style similarities with the Uchi Mine, 1.3km north, which reportedly produced a total of 114,467 oz Au and 14,345 oz Ag from 757,074 tons (milled). The ULDZ...