Falcon Gold Corp. (TSXV: FG) has reported the acquisition of 76 claims (approximately 33km2) in the Nickel North area of Quebec. This area has been in the news recently with the announced option agreement between 1844 Resources and Nickel North Exploration.
1844 Resources has the option to acquire from Nickel North, 100% interest in the Hawk Ridge Property by paying C$6M in cash and issuing 10M shares over the term of the five-year option agreement.
During 2022 Nickel North updated the mineral resource estimate (MRE) at the Hawk Ridge Property.
Highlights of these reports are an inferred mineral resource for all four deposits in the project area using a C$35/t cut-off was 29.44Mt grading 0.20% Ni, 0.52% Cu, 0.012% Co, 0.19g/t Pd, 0.04g/t Pt and 0.021g/t Au, corresponding to 0.56% NiEq.
Portions of the Falcon Property are located 4km along strike from the Falco 7 historical resource and 2km along strike form the Hopes Advance historical resource. Highlights of this new property include:
A historical drill hole located on the Falcon property and about 4km west of the Falco 7 historical resource intersected 10.4m of 0.51% Copper and 0.16% Nickel.
The Falcon Gold Property contains numerous electromagnetic anomalies that have not been investigated by previous drilling.
Karim Rayani, CEO of Falcon, noted, “Falcon is continuing its pursuit to diversify and go after critical element projects, with large tonnage potential. The Hope Advance is an area I have been keen on for some time for its high-grade nickel and battery elements. Further infrastructure is being planned with a conceptual deep seaport to the area which would bring excitement and large investment into the camp. The recent option agreement by Nickel North confirms our belief that nickel, and associated PGE’s will remain a valuable commodity in the coming years. As we enter a new greening phase, onshoring and reshoring of manufacturing will mean North American metal assets will become more valuable than ever, and we love operating in the mining and exploration friendly province of Quebec.”
To find out more, please visit www.falcongold.ca
