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Falcon Mobilizes Ground Crews At Gander North Adjacent To Gander Gold Corp.
VANCOUVER, BC / ACCESSWIRE / June 16, 2022 / Falcon Gold Corp. (TSX-V:FG), (FRA:3FA), (OTCQB...
About this update from Falcon Gold Corp.
[{"type":"text","content":"Falcon Mobilizes Ground Crews At Gander North Adjacent To Gander Gold Corp.VANCOUVER, BC / ACCESSWIRE / June 16, 2022 / Falcon Gold Corp. (TSX-V:FG), (FRA:3FA), (OTCQB:FGLDF); (\"Falcon Gold\" or the \"Company\") is pleased to announce ground crews have been mobilized to our Gander North Project. The Company has received its initial permits for our first phase of exploration, which will include base line prospecting, soil sampling, trenching to vector high priority targets for drill plan submission.\"The Gander Project is a contender, being perfectly situated on trend in the heart of the action. The recent soil sampling released by Sassy and world-renowned prospector Shawn Ryan is further validation our land positions are in highly prospective terrains; our interpretations show a high probability of continuation of a structural system runs through our ground.\" Stated, Karim Rayani Chief Executive Officer.The Gander North project covers 10,150 hectares. These claims are located 25 kilometres due east of New Found Gold's Queensway project and are contiguous to Gander Gold which were previously held by Sassy Resources Gander Project, which Sassy had optioned from Shawn Ryan.Northeast-trending structural lineaments first recognized by Sassy Resources to the immediate east are interpreted to continue onto our property. An interpretation of the regional magnetics shows north-northeast-trending, ophiolite-bearing thrust faults are crosscut by a series of brittle northeast-trending fault-fractures, which indicate a regional setting like that to the highly prospective eastern Exploits subzone. Gold mineralization models along the Exploits subzone are based on analogous structural settings to those at Fosterville in Victoria, Australia.Recent exploration by Gander Gold on its Gander North project have returned spectacular results from soil geochemistry sampling surveys as evidenced with recent published results of 1,432 parts per billion gold in northeast-trending zones.Figure 1. Gander North Map Showing Strategic LocationSpin-Out TransactionOn June 1st, 2022, the Company's announced its intent to spin-out its Latin American subsidiary Latamark Resources. The company has now finalized the terms and amended the agreement which is subject to TSX Venture Exchange, regulatory and court approvals, as well as shareholder approval by not less t...