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Be the first with the news that moves the market- Falcon Gold (FG) has revealed a significant gold strike on its Spitfire and Sonny Boy gold project in British Columbia
- The company intersected channel sample assays as high as 122 grams per tonne gold across one metre
- Further, grab samples from a newly identified vein on the property, named the Cliff Vein, assayed at up to 22.8 grams per tonne
- The Sonny and Spitfire minerals claims have been explored since 1908, with the site’s Master Vein previously hosting a mine
- Falcon Gold (FG) is up five per cent and is trading at C$0.20 per share
Falcon Gold (FG) has revealed a significant gold strike on its Spitfire and Sonny Boy gold project in British Columbia.
The company’s field crews were completing a preliminary geological investigation on the claims on the property, specifically the formerly producing Master Vein.
Channel sampling on the vein returned an average sample of 59.8 grams per tonne gold over 2.2 metres, which included a one metre at 122 grams per tonne. 125 metres from this strike, another channel returned 11.4 grams per tonne over one metre.
During all this work, the junior explorer uncovered a new potential vein structure, now dubbed the Cliff Vein. Grab samples from the new structure assayed at 22.8 grams per tonne gold.
The Spitfire and Sonny claims have been explored since at least 1908, with the majority of exploration focused on the site’s quartz veins, which host gold, coper and silver.
The quartz veins have historically recorded mineral values as high as 124 and 127 grams per tonne gold and 514 grams per tonne silver.
Karim Rayani, Falcon’s CEO said the project continued to impress him.
“Explorers. focused on narrow high-grade veins while not seeing the less obvious geological indications of border mining widths. The company’s field crew has dedicated their work this season to studying the structure and geochemistry.
“We believe the Nicola Lake area hosts the makings of a significant new gold camp,” he said.
Falcon Gold (FG) is up five per cent and is trading at C$0.20 per share at 1:00 pm EDT.
