VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 27, 2012) - Falco Pacific Resource Group Inc. ("Falco Pacific" or the "Company") (TSX VENTURE:FPC) is pleased to announce that it has commenced a 2,000 metre diamond drill program on its Flavrian Central gold prospect located 15 km northwest of the city of Rouyn-Noranda, Quebec within the West Rouyn-Noranda Camp's ("Western Camp") Flavrian gold district. Drilling recently began with one rig and is expected to be completed in the early first quarter of 2013. The 6 drill-hole program will test multiple shallow gold targets recently generated from Falco Pacific's extensive proprietary regional database.
The Flavrian Central prospect lies 500 meters south of the St. Jude Breccia intrusion and 1 km northwest of Falco Pacific's historic Quesabe gold mine (see NR 12-14 dated December 19, 2012). The area hosts a number of historic gold showings delineated by overburden trenching and channel sampling, grab samples and a small amount of diamond drilling. High-grade gold mineralization is typically associated with shear related quartz veins and pervasive alteration of the surrounding country rocks. Historic channel sample results from a 1938 St. Jude Gold Mines exploration program highlight the region's prospectivity (highlights include: 17.91 g/t gold over 0.61 m, 79.89 g/t gold over 0.61 m, 25.48 g/t gold over 0.61 m and a grab sample of 393.23 g/t gold1).
The area's geological setting is similar to the setting around the Upper Beaver gold-copper deposit located 40 km to the SW. This, in association with the presence of former gold producers within the Western Camp, the abundance of surface gold showings, and the area's overall underexplored nature, support the significant opportunity present.
Beauchastel Property Acquisition
As previously reported (see NR 12-14 dated December 19, 2012) the Company has entered into an LOI to acquire the Beauchastel property (the "Property") from Vior Inc. which is just west of Falco Pacific's historic Quesabe gold mine. As a correction, the Property is made up 34-claims opposed to 22 as previously reported for a total of 1,331 hectares. The Company expects to close the transaction in January 2013.
Dr. Michael Byron, Vice President Exploration, is the qualified person as defined by NI 43-101 and has reviewed and verified the technical information contained in this news release.
About Falco Pacific Resource Group
With its acquisition of the 728 square km Rouyn Noranda Project, Falco Pacific has become one of the largest claim holders in the Province of Quebec and controls over 70% of the world-class Rouyn-Noranda mining camp. Through diligent compilation, the application of the latest exploration technology and an aggressive drill focused exploration approach, the Company intends to meet its goals of continuing the great tradition of discoveries in this prolific region. For more information, please go to www.falcopacific.com.
The company advises that the grades listed above are historical in nature and have not been verified.
1 Surface Sample Plan Map, St. Jude Gold Mines Ltd., 1938.
On behalf of the board of directors of
FALCO PACIFIC RESOURCE GROUP
Kelly Klatik, President and CEO
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. Forward-looking statements include terms of the transaction, including acquisition costs, shares to be issued and negotiation of definitive agreement, approval of the TSX Venture Exchange, the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and future plans. 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 those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company 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 law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.
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.