MONTREAL, QC–(Marketwired – November 19, 2015) – Falco Resources (TSX VENTURE: FPC) (“Falco” or the “Company”) is pleased to announce positive results from its drilling program on the Company’s 100% owned Horne 5 project. The new results include 2 additional intersections of holes H5-15-07 and H5-15-08 located in the Quemont Extension mineralization.
HIGHLIGHTS FROM QUEMONT EXTENSION
The Horne 5 drilling program has highlighted the extensions of the Quemont mineralization. The results of holes H5-15-07 and H5-15-08 which intersected the western extensions of the Quemont mineralization (Figures 1 & 2), returned strong combined grades (Table 1).
Given the positive results and as part of the Horne 5 PLUS drilling program, the Company will focus on targets within a corridor hosting the existing stopes and along the western plunge of the deposit (Figure 3).
As part of the program, a total of 3,000m will be drilled to follow up on these targets. One additional wedge will be drilled on both pilot holes H5-15-07 and H5-15-08. Additionally, two new pilot holes will be drilled. The Company plans to conduct a downhole geophysical survey following the completion of the drilling in order to compile additional data.
Results from Quemont Extension Intercepts (Table 1)
|H5-15-07 (Quemont) (1)||1,102.3||1,127.9||13.2||4.5||27.1||0.3||11.9||11.4|
Note 1: For the Hole H5-15-07, the Quemont intercept is non-continuous. Due to the crossing of a stope, only 51% of the core was recuperated and analysed. The remainder of the intercept being either backfill or void.
Gold equivalent calculations are based on the following assumptions: exchange rate of $Cdn1.05/$US, metal prices of (all $US): gold $1,300/oz, copper $3.30/lb, zinc $0.95/lb. Metallurgical testing is underway to facilitate optimization of these estimates utilizing available Horne 5 drill core.
Claude Bernier, Exploration Manager, (P.Geo. P.Eng.) is the qualified person for this release as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein. Mr. Bernier is an employee of Falco and is non-independent.
Falco has implemented a strict quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Falco inserts certified external mineralized standards. In the mineralized zones, each shipment is comprised of 27 samples. Every shipment is composed of 23 samples, a standard, a blank, a pulp duplicate and a reject duplicate placed randomly every 15th sample to test the laboratory analysis methods and precision for each shipment of samples. Blanks and standards are inserted within the normal sample number sequence. Assay results and certificates of analysis are interpreted and reported on a regular basis. If anomalies are detected, the laboratory is advised and the entire batch of samples is re-assayed. In non-mineralized zones, every shipment is composed of 27 samples, which includes a standard and a blank. In non-mineralized zones, if anomalies are detected, the laboratory is advised, but the batch of samples is not necessarily re-assayed.
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 74,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal property is the Horne Mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. A maiden 43-101 mineral resource estimate for the Horne 5 deposit delineated an initial inferred resource of 2.8 Moz AuEq at 3.41 g/t AuEq (25.3 million tonnes grading 2.64 g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz Au — see March 4, 2014 press release for details).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects’, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved” and includes, without limitation, achievement of objectives set for the confirmatory drilling program on the Horne 5 property. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and those risks set out in Falco’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cautionary Note Concerning Mineral Resources
This press release uses the term “inferred” resources. We advise investors that while this term is recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize it. “Inferred” resources have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
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For further information contact:
Chief Financial Officer