Falco Resources (FPC-V) March 7, '16 is pleased to announce that the Company has today filed on SEDAR a National Instrument 43-101 compliant technical report for its wholly-owned Horne 5 gold project located in Rouyn-Noranda, Québec. Falco's news release dated January 25th, 2016 summarizes the assumptions and key results contained in the technical report. There are no material differences between the mineral resource estimates contained in Falco's news release dated January 25, 2016 pertaining to this property, from those contained in the technical report filed today.
Additionally, Falco is pleased to announce that on March 2nd, 2016 the Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques ("MDDELCC" or the "Ministère ") granted to the Company two (2) permits (RLRQ chapitre Q-2, article 22; Q-2, chapitre 31.75) to proceed with the dewatering of the Quemont 2 shaft. These permits allow the Company to dewater the Quemont 2 shaft to a maximum depth of 100 metres.
Luc Lessard, President and CEO commented, "Receiving the dewatering permits for the Quemont 2 shaft is excellent news. These permits are an important step forward for our project as it allows Falco to prepare to commence drilling from the second underground level."
The Company will conduct a drill program to test the previously outlined Quemont Extension target. The underground program proposes for a total of 10,000 meters of drilling. Falco is currently finalizing the project preparations and will commence dewatering operations upon completion.
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 74,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal property is the Horne Mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. A updated 43-101 mineral resource estimate for the Horne 5 deposit delineated an Indicated Resource of 5,361,000 gold equivalent ounces ("oz AuEq"), including 3,418,232 oz Au hosted in 58.3 million tonnes averaging 2.86 g/t AuEq (1.82 g/t Au; 15.60 g/t Ag; 0.20% Cu; 1.00% Zn) and an Inferred Resource of 1,254,000 oz AuEq, including 854,534 oz Au hosted in 12.7 million tonnes averaging 3.08 g/t AuEq (2.10 g/t Au; 26.26 g/t Ag; 0.22% Cu; 0.57% Zn.) -- see January 25th, 2016 press release for details.
FOR FURTHER INFORMATION PLEASE CONTACT:
For further information contact:
Vincent Metcalfe Chief Financial Officer 514.905.3162 info@falcores.com |
