October 20, 2021
Vancouver, B.C., October 20, 2021. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); (“Falcon” or the “Company”) is very pleased to announce the company has signed a Memo of Understanding (MOU) to acquire the Viernes project located 122 km SE of Antofagasta City in Northern Chile. The claims encompass 13 claim blocks covering 3,300 Ha. The west portion of the project offers prospectivity for epithermal gold veins as evidenced by outcrops of the Chile-Alemania Paleocene volcano-stratigraphic sequence, which is the same host rock at the El-Peñon Gold Mine owned by Yamana Gold. Additionally, large Eocene Monzodiorite rocks are also highly prospective for porphyry gold-copper mineralization.
“The Viernes Project has the makings of a contender in a world class district, not only is it adjacent to majors such as Yamana’s El-Peñon Gold-Silver mine, which produces 160,000 ounces of Gold per year and 5,000,000 million ounces of silver. It’s also just 30kms from the Escondida porphyry Copper-Gold-Moly cluster, the largest copper producing hub in the world operated by BHP and Rio Tinto. It’s a very competitive area as it’s controlled by the majors and almost impossible to get ground of this size,” states Karim Rayani Chief Executive Officer.
The Viernes project is located at moderate elevation of approx. 2000 meters above sea-level and is 5 km east of Yamana Gold’s highly profitable El-Peñon low sulfidation gold and silver mine, and 35kms southeast of the world class Zaldivar – Escondida Copper Hub. The project has year-round access via paved and gravel roads from the mining capital of Chile, known as Region II, Antofagasta.
The Viernes project presents Falcon a tremendous opportunity to explore for potential bonanza -grade with epithermal low to intermediate sulfidation gold-silver, and porphyry copper-moly mineralization in one of south Americas greatest mineral endowed Paleocene-Eocene belts. The project is located within a world class cluster with extensive development by Yamana, BHP-Rio Tinto, Antofagasta Minerals amongst others. The property is highly prospective and is adjacent to the epithermal vein-hosted Gold-Silver producing El-Peñon mine in which the property may host similar geochemical and structural features.