The mineral exploration company has staked a total of 996 claims over 24,900 hectares, which are strategically located and contiguous to First Mining Gold, Sokoman Minerals-Benton joint venture, and Marvel Discovery Corp. The acquisition gives it a strategic land position as exploration activity within Newfoundland continues to accelerate with no sign of slowing down, Falcon said.
“The Hope Brook mine was and is a very significant gold deposit intimately associated with structure,” said Falcon CEO Karim Rayani in a statement. “Falcon’s land is situated in a very active structural corridor giving us a tremendous opportunity for success.”
Within this immediate area, Falcon said the most significant deposit is the Hope Brook gold mine which was in production from 1987 to 1997 producing 752,163 ounces of gold.
The Hope Brook deposit is now owned by Coastal Gold Corp, which has outlined an additional 6.33 million tons at an average grade of 4.68 grams per ton (g/t) gold for 954,000 ounces of gold in the indicated and inferred categories.
Falcon holds five additional projects, including the Camping Lake Gold property and the Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property near Sudbury Ontario; and in British Columbia, the Spitfire-Sunny Boy Gold Claims and the Gaspard property.
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Story by ProactiveInvestors
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