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Falcon Options Past-Producing Gold-Silver Concessions Covering over 36,000 Hectares in Argentina
HIGHLIGHTS: Significant land position, strategically located; Largely under-explored reg...
About this update from Falcon Gold Corp.
[{"type":"text","content":"Falcon Options Past-Producing Gold-Silver Concessions Covering over 36,000 Hectares in ArgentinaHIGHLIGHTS: Significant land position, strategically located; Largely under-explored region in La Rioja province; Numerous historical surface & shallowly drilled, high-grade gold occurrences; Evidence of several sites of artisanal and small-scale mining; Low cost of entry.Vancouver, British Columbia--(Newsfile Corp. - October 3, 2017) - FALCON GOLD CORP. (TSXV: FG) (\"Falcon\" or the \"Company\") reports it has signed a letter agreement (the \"Letter\") for the right to acquire an initial 80% interest in the Esperanza Resources S.A. (\"ERSA\") mineral concessions located in La Rioja Province and in San Luis Province of Argentina. These provinces occur in the region of northwest Argentina, which is known for its mineral wealth and for its large long-life precious and base metal deposits. In neighbouring San Juan province are McEwen Mining's Los Azules project and the Barrick/Shangdong Gold Veladero gold mine. The Bajo de la Alumbrera mine in Catamarca province is one of the largest and lowest cost copper and gold mines and has been in production since 1998.Stephen Wilkinson, Falcon's CEO commented, \"We are excited to have this opportunity to acquire such a sizeable project in a region of Argentina where the federal and provincial governments are actively implementing changes favorable to business and mining. The Esperanza concessions cover several notable high-grade gold occurrences as well as historical artisanal and small-scale mining sites. Despite this evidence of attractive gold mineralization, La Rioja province is remarkably under-explored.\" The ERSA PropertyThe Property is comprised of 11 mineral concessions covering an aggregate area of 36,034 hectares (\"ha\"). The Property is located within the Sierra de Las Minas District of La Rioja and San Luis provinces in Argentina about 20 kilometres (\"km\") south-southeast of the town of Chepes. The city of San Juan is about 250 km by highway to the west-southwest. The Property's 10 mineral concessions within La Rioja province encompass approximately 35,870 ha. Within San Luis, the ERSA concessions amount to 165 ha and comprise 3 mineral claims. Gold mineralization was reportedly first discovered within the district in or about 1865 at the Callanas occurrence. Limited mining was...