SOURCE: Falco Resources Ltd

Falco Resources Ltd

September 02, 2014 08:31 ET

Falco Begins Drilling Large Conductive Anomaly at Lac Herve

ROUYN-NORANDA, QC--(Marketwired - September 02, 2014) -  Falco Resources Ltd. ("Falco") (TSX VENTURE: FPC) reported today that it has initiated drilling of a large borehole anomaly with conductivities typical of massive sulphide mineralization at its Lac Hervé property. 

The untested conductor was generated from a time-domain electromagnetic (TDEM) survey recently completed by Falco as part of its 2014 field exploration program. The large off-hole subvertical conductor lies about 400 metres below surface and may have a depth extent of several hundred metres.

"We are encouraged by the preliminary data as anomalies such as these are typically associated with massive or semi-massive sulphide mineralization," said Dr. Mike Byron, Vice President, Exploration. "Equally important is the fact that this is just the latest of a number of prospective targets that Falco has generated in the two years since it acquired this land package."

Lac Hervé covers over 2,500 hectares within a highly prospective VMS area 15 kilometres northeast of Rouyn-Noranda in the eastern portion of Falco's land package (Figure 1).

Interest in the area is centered on an historical drillhole intersection of anomalous copper and zinc mineralization in association with typical VMS-style alteration. Despite encouraging results, a borehole geophysical survey was never carried out. Recognizing this opportunity, Falco completed a borehole EM survey to determine if the previously encountered mineralization and alteration are an indication of more significant material proximal to the drillhole. Falco believes that survey results appear to support this possibility and drill permitting was fast-tracked in order to test this highly prospective target. Similar geophysical targeting has enjoyed success in other historic VMS districts. Hudbay Minerals' discovery of the Lalor Lake deposit in 2007 is a prime example of the need to revisit and actively explore in these prolific historic mining camps. Surface EM data predicted a target at depth that was subsequently drilled, intersecting massive high-grade zinc mineralization, ultimately leading to the definition of a zinc-copper-gold-silver deposit.

Mr. Stéphane Poitras, P.Geo., is the qualified person for the project as defined by National Instrument 43-101 and he has reviewed this news release.

About Falco

Falco Resources Ltd. (TSX VENTURE: FPC) is one of the largest claim holders in the Province of Quebec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 72,800 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 14 former gold and base metal mine sites. Falco's principal property is the Horne Mine Complex, 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 3.46 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". 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.

Contact Information

  • For further information contact:
    Mr. Dean Linden 
    Senior Vice President
    Business Development
    +1.425.449.9442
    dlinden@falcores.com 


    Ms. Deanna Kress
    Corporate Communications
    +1.604.336.6346
    1.855.238.4671
    dkress@falcores.com