Falcon Gold Corp. (FG: TSX-V | 3FA: GR | FGLDF: OTCQB) has announced that it has acquired, via staking, additional ground west of Valentine Lake, Newfoundland and Labrador. This new land position, named Victoria West, consists of 166 claims (4,150 hectares) and is contiguous to Marvel Discovery Corp (TSXV: MARV), Benton Resources (TSXV: BEX), Buchans Minerals Corp. (TSXV: BMC) and a significant land package staked by renowned prospector, Shawn Ryan. The property lies 40km west of the Valentine gold deposit and 65km southwest of the town of Buchans. The Valentine gold deposit which hosts 6.8Moz of gold, is now under development. Falcon has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits.
In early 2011, Buchans Minerals and Benton Resources completed prospecting activities in the vicinity of the new claims. This work identified abundant mineralized quartz vein material containing trace to several percent sulphides. Grab samples assayed between 1.65 to 18.24 g/t Au and between 5.4 to 87.1 g/t Ag in subcrop samples, while grab samples from outcrop assayed up to 8.52 g/t Au and 30.7 g/t Ag. Of considerable interest to Falcon are float samples that included angular boulders which assayed up to 106.4 g/t Au, and 364.3 g/t Ag.
Falcon’s Chief Executive Officer, Karim Rayani commented, “Falcon couldn’t ignore the high-grade Au-Ag results from the Buchans-Benton prospecting program in 2011 and is intrigued by the fact that the high-grade gold sample lies within 2.4km of our claim boundary and the source of this boulder does not appear to have ever been found. Our in-house studies suggest that within this immediate area, structural controls on mineralization are poorly understood and we aim to fly the entire area with high-resolution magnetic surveys to be followed up with detailed litho-structural and target generation studies.”
Victoria West Property
Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte–Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone. The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp (TSE: MOZ)) in the footwall of the Victoria Lake Shear Zone. To date Marathon Gold has discovered five deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8Moz. Au. Also notable in the area is Matador Mining’s Cape Ray deposit which hosts 837,000 oz. of Au.
Falcon Gold’s recent staking activity was influenced by recent structural interpretations of regional-scale geophysical surveys which suggested numerous oblique trends and tertiary splay zones, considered highly prospective for gold mineralization.
For further information please visit: falcongold.ca
