Falcon Gold Corp. (TSXV: FG | OTCQB: FGLDF) and Marvel Discovery Corp. (TSXV: MARV | OTCQB: MARV) have provided an update on their combined exploration focus for their Hope Brook Projects which are strategically located contiguous to Benton-Sokoman Joint Venture, and First Mining’s ground which was recently optioned to Big Ridge Exploration.
The two companies had originally planned to complete high resolution magnetic gradiometer surveys over the project area, a proven method to distinguish structural complexities in geological terranes. Commencement of the survey work has been delayed due to helicopter availability from forest fires in Central Newfoundland, where a state of emergency was issued. This provided both companies that opportunity to conduct a geophysical review and structural interpretation over the Hope Brook project area in advance of the survey and surface work.
Falcon and Marvel have announced that the geophysical review has identified kilometer-scale shear zone corridors, and a major fold closure, interpreted from the magnetic patterns, within the Hope Brook Property area. These will be the focus of prospecting and till sampling projects employed to verify the structures and determine their mineralization potential. With recent success in identifying anomalous gold, tungsten, silver, and copper reported by Falcon at their Gander North Property. Both companies have now shifted their exploration focus to the Gander district.
In the past year, Benton-Sokoman made headlines announcing the first high grade discovery of lithium bearing pegmatites at their Golden Hope project. This discovery is less than 1km away from the combined ground held by Falcon and Marvel and appears to be the same structural corridor covered by the Alliance land tenure. The 35 grab and chip samples noted in the Benton-Sokoman NR were collected over a 2km distance. Their sampling programme confirmed the presence of lithium pegmatites, and the first significant occurrence of lithium documented in the province of Newfoundland and Labrador, Canada.
Falcon and Marvel recently formed a strategic partnership (November 17, 2021) that combines both the Hope Brook and Baie Verte Brompton District properties covering a total of 115,170ha to be explored on a 50-50 Joint Venture basis. The Hope Brook Property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of, or are proximal to, two major structures linked to several significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland.
Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163oz of gold. The Hope Brook deposit is now owned by Coastal Gold Corp., which has outlined an additional 6.33Mt at an average grade of 4.68gpt Au for 954,000oz of gold in the indicated and inferred categories.
For further information please visit: https://falcongold.ca/
