Falcon Gold Corp. (TSXV: FG | GR: 3FA | OTCQB: FGLDF) has acquired 91 claims amounting to 2,275ha in the Great Burnt greenstone belt (GBGB) in central Newfoundland, Canada.
The base-metal rich belt is host to the Great Burnt Copper Zone with an indicated resource of 381,300t at 2.68% Cu and inferred resources of 663,100t at 2.10% Cu. Recent drilling in 2020 by Spruce Ridge Resources reported 8.06% Cu over 27.2m. The Great Burnt greenstone belt also hosts the South Pond A and B copper-gold zones and the End Zone copper prospect within a 14km mineralized corridor.
The property is hosted within the Great Burnt greenstone belt which hosts Besshi-type massive sulphide deposits. These types of deposits generally occur in thick sequences of marine sedimentary rocks ranging from black shale to arkose to greywacke.
Sulphide lenses can be several meters thick and extend for several kilometres. Besshi-type massive sulphide deposits are generally copper dominant and can contain precious metals such as gold and often contain cobalt.
The property is also located 4km west of the Crest Resources-Exploits Discovery joint venture project within the Exploits Subzone. The Exploits Subzone contains deep seated gold-bearing structures of the Dog Bay-Appleton Fault- GRUB Line deformation corridor that contains the high-grade Keats Gold Zone of New Found Gold.
“We are extremely pleased to have been able to expand our footprint in the Great Burnt Copper District. This property not only has the potential to host important Exploits Subzone orogenic gold mineralization, but also copper-rich massive sulphides that contain gold,” commented CEO Karim Rayani.
“Our desktop studies have shown this is a drill-ready project – exploration and drill plans are now in the permitting stage. We look forward to announcing our exploration and drilling plans in the coming months.”
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