October 19, 2021
Vancouver, B.C., October 19, 2021. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (“Falcon” or the “Company”) is pleased to provide an update on its summer 2021 mapping and sampling program at the Central Canada Gold Project located near Atikokan, Ontario. Sampling on the J.J. Walshe mine trend returned five grab samples ranging from 11.2 g/t Au to 79.7 g/t Au. Assay results also highlight several gold-bearing zones across the property previously undocumented including the Sugar Shear (22.9 g/t Au), Monte (3.63 g/t Au), Honey (1.04 g/t Au) and Hoist Zone (1.12 g/t Au) (Figure 1).
The Central Canada Mine trend has a mineralized strike length of 140m as defined by drilling intercepts and consists of parallel zones striking east-northeast and dipping very steeply to the north-northwest. The mine trend includes the historical J.J. Walshe shaft, which was sunk on a 2 m wide quartz vein hosted by strongly tourmaline-quartz-sericite-fuchsite altered banded volcanic tuff and chert.
The newly documented Sugar Shear extends over 360m along the northern shore of Sapawe Lake, 650m southwest of the J.J. Walshe workings and returned values up to 22.9 g/t Au in blast rock from historical workings. Mineralization occurs within strongly quartz-sericite-ankerite-chlorite-pyrite altered felsic to mafic volcanic schist with millimeter to decimeter wide quartz-chlorite-pyrite-chalcopyrite veins with a strike width of 5-7m across.
The Monte Zone, 970m east-northeast of the J.J. Walshe shaft, is also newly documented and returned values up to 3.63 g/t Au in ankerite-sericite-chlorite-pyrite altered volcanic schist, and anomalous values in altered quartz-feldspar porphyritic intrusions and quartz veins in the schist.
The Honey Zone is a new discovery located on the north shore of Sapawe Lake, 600m east-southeast of the J.J. Washe showing with up to 1.04 g/t Au. Gold mineralization occurs within and along a strongly altered, steeply north-dipping, boudinaged quartz porphyritic intrusion in very highly strained volcanic rocks, associated with arsenopyrite and pyrite in fractures, quartz veins and disseminated in wall rock.
The Hoist Zone occurs 1900m east-northeast of the J.J. Walshe shaft, within mixed tonalite, granodiorite and gabbro near the folded contact of the greenstone and intrusive complex to the north. Mineralization consists of mm quartz-pyrite-chalcopyrite veins near gabbro-granodiorite contacts displaced by steep north dipping shear zones. Up to 1.12 g/t gold occurs in altered granodiorite.
A total of 269 grab samples were taken across the property. Highlights are tabled below. Grab samples are select samples and may not be representative of mineralization on the property.