Falco Resources Ltd. Reports Historical High Grade Intercepts at Horne Project
Nov 6 14
Falco Resources Ltd. reported that it has identified a number of historical high grade gold intercepts within the Horne Complex. In total, 15 new gold targets and 1 base metal target have been identified in proximity to Falco's Horne 5 deposit. These drill intercepts were generated from ongoing compilation and digitization of over 460,000 metres of historic drilling (6,400 drill holes) conducted by Noranda while the Horne mine was in operation. Falco continues to compile 80 years of proprietary archives on the Horne Complex area and additional intercepts are believed to be likely. These 16 targets were derived from historical underground drilling across five mine levels ranging in depth from 750 metres to 2,400 metres below surface. The reported high-grade gold intercepts have never been the focus of follow-up work and it is believed that the data has never be publicly disseminated. These new targets were not included in Falco's initial NI 43-101 inferred mineral resource estimate for the Horne 5 deposit, thus making them attractive targets for possible mineral resource expansion. Level 21: Five holes collared on Level 21 intersected significant gold both north of the Horne Creek Fault and south of the Andesite Fault. Of these, HN_21-5892 (1,400 metres west of Horne 5 and 760 metres deep) and HN_21-6040 (1,700 metres west of Horne 5 and 1,030 metres deep) were collared south of the Andesite Fault. HN_21-6040 intersected 27.43 g/t gold over 3.05 metres in a relatively unaltered metadiabase, while HN_21-5892 generated two intersections of interest; 28.11 g/t gold over 3.05 metres within a syenite porphyry with associated quartz veins and minor pyrite, and a lower interval of 5.49 g/t gold over 3.05 metres in metadiabase. HN_21-5902 was drilled north across the Andesite and Horne Creek faults 1,400 metres west of Horne 5 and 760 metres below surface. Two gold targets were identified of which the larger 30.50 metres interval of 0.89 g/t gold, including 1.37 g/t gold over 7.62 metres, occurs within rhyolite breccia, while a second intercept within the Powell Granite assayed 1.88 g/t gold over 12.19 metres, including 6.19 g/t gold over 3.05 metres. HN_21-5994, a horizontal hole drilled to the north across the Andesite and Horne Creek Faults, 1,280 metres west of Horne 5 and 760 metres deep, intersected 9.77 g/t gold over 6.09 metres, including 32.91 g/t gold over 1.52 metres, within the Powell Granite. Mineralization is associated with minor quartz veins, pyrite, and chalcopyrite. A flat hole drilled north across the Horne Creek Fault (HN_21-2885) cut 1.13 g/t gold over 19.81 metres, including 4.80 g/t gold over 1.52 metres, within the Powell Granite, 1,030 metres west of Horne 5 at a depth of 750 metres. Level 25: One isolated intersection of 16.46 g/t gold over 1.52 metres is reported for HN_25-1770, a flat hole drilled south of the Andesite Fault 400 metres east of Horne 5 and 950 metres below surface. Mineralization is related to an isolated shear zone within relatively unaltered andesite. Level 33: Two flat holes (HN_33-8869 and HN_33-4772), separated by over 2.0 kilometres, were drilled south of the Andesite Fault from either side of Horne 5 testing areas southeast and southwest of the deposit. HN_33-8869, collared 1,200 metres south southwest of Horne 5 at a depth of 1,100 metres, intersected mineralization in association with a weakly altered andesite in contact with metadiabase, returning 3.05 metres of 42.69 g/t gold. HN_33-4772, located 900 metres southeast of the deposit at a depth of 1,300 metres, intersected andesite/metadiabase contact related mineralization over 0.82 metres that assayed 6.17 g/t gold. Level 57: HN_57-9087 was drilled horizontally across the Andesite Fault cutting rhyolites 850 metres southwest of Horne 5 and 2,000 from surface. Anomalous copper over a 686 metre core length was reported along with an intersection of two discrete semi massive to massive pyrite zones (6.1 metres and 15.85 metres) with elevated copper, zinc and local gold values. Level 65: Historical holes drilled from Level 65, the mine's deepest level, record high-grade gold intercepts over significant widths. Two horizontal holes (HN_65-9130 and HN_65-9068) were drilled near the western convergence of the Horne Creek Fault and the Andesite fault centered at a vertical depth of 2,400 metres and 900 metres west of Horne 5. Hole HN_65-9068 was drilled southwest cutting the Andesite fault and three gold horizons. The first assayed 14.74 g/t gold over a 3.05 metre silicified rhyotite tuff interval within the Andesite Fault. A second, lower down hole, intersection of 31.54 g/t gold over 9.15 metres occurs near the tuff/metadiabase contact in association with pyrite and trace chalcopyrite, while the last interval returned 1.71 g/t gold and 0.14% copper over 6.10 metres. North of HN_65-9068, hole HN_65-9130 intersected 6.10 metres of 2.40 g/t gold within the Horne Creek Fault, defining a localized alteration zone overprinted by a larger anomalous copper and zinc intersection in excess of 275 metres.
Falco Resources Ltd. Appoints Sean Roosen as Director and Chairman of the Board
Sep 12 14
Falco Resources Ltd. announced the appointment of Mr. Sean Roosen as a Director and Chairman of the Board. Mr. Roosen has been Chairman of the Board and CEO of Osisko Gold Royalties since June 2014. Prior to this, he was President and CEO of Osisko Mining Corporation, which he co-founded. He was a guiding force in transforming Osisko Mining from a junior exploration company to a leading intermediate gold producer. Over that period, he was responsible for developing the permitting and financing strategy to bring the $1 billion Canadian Malartic Mine into production.