Falcon Gold Corp. (TSX-V: FG | FGLDF: OTCQB) has announced the completion of a technical report on its Esperanza Gold Project in La Rioja province, Argentina. A site visit of the project was carried out by Dr. D. Rubiolo, QP, on behalf of the company in December 2021.
While Falcon’s flagship project is based in Canada, the company acquired the Esperanza Gold concessions in 2018 as part of a stated diversification strategy.
The Esperanza concessions cover an aggregate area of 10,303ha and are road accessible, located approximately 55km south-southeast of the town of Chepes. This area contains prospective sheared quartz veins hosted in granitoid rocks of early Paleozoic age. High-grade gold mineralization was reportedly first discovered at end of 19th century at the Callanas, followed by limited mining conducted on a gold, silver, and copper zone.
In 1995, the Japan International Cooperation Agency (JICA) studied and completed mapping, surveys, surface sampling and drilling on 30 different gold mineralized zones and historical mines throughout the area. JICA exploration activities also included 900m of diamond drilling on the Callanas, where two of the holes returned intercepts assaying 1m at 9.11 g/t Au, 28.59 g/t Ag and 0.42 m at 24.3 g/t Au, 61.10 g/t Ag. More recently, Esperanza Resources has followed the Callanas West zone along a northwest-southeast strike for approximately 4,000m.
Following the signing of an initial agreement in 2018 with Esperanza Resources S.A., Falcon carried out some preliminary prospecting collecting 73 samples. Results revealed high grade gold mineralization up to 50.12 g/t over 0.6m sheared-veins structures.
On November 7th, 2021, Falcon announced its intent to spin-out its Argentina Gold asset to Latamark Resources Corp., a wholly owned subsidiary of Falcon Gold and the company is now finalizing details of the transaction and its reporting requirements needed for shareholder approval.
For further information please visit: https://falcongold.ca/
