Falcon Gold Corp (CVE:FG) (OTCPINK:FGLDF) will carry out an airborne geophysics survey of its 10,000 hectare flagship Central Canada Gold project in Ontario to determine potential gold trends and drill targets.
ProspectAir of Gatineau, Quebec has been hired for the job, which consists of high-resolution airborne magnetics and time-domain electromagnetic data collection over 1510-line kilometers at 100 metre (m) spacing, the firm said in a statement.
READ: Falcon Gold unveils strong assay results from its Central Canada gold mine project in Ontario
The firm's Central Canada Gold mine, which by 1934 had reportedly outlined approximately 230,000 ounces of gold with an average grade of 9.9 grams per ton (g/t) sits 20 km south east of Agnico Eagle's Hammond Reef Gold deposit.
The Agnico project has higher confidence Measured and Indicated (M&I) resources of 208 million tonnes containing 4.5 million ounces of the yellow metal.
Also in Thursday's statement, the firm referred to the new zone it had identified by drilling in two holes this year of 7.23 g/t gold at 114 meters depth and 18.6 g/t gold at 104 meters depth.
Falcon also said that a map included in a December 1966 article in the Northern Miner indicated the discovery of four high-grade zones outlining grab and channel samples ranging 0.5 oz/t gold or higher, which were outside the current 2020 drilling area.
The firm intends to examine and ground-truth these areas before finalizing its plans for the second stage of drilling.
In July this year, the firm completed its inaugural seven-hole drill program at the Central Canada Gold mine project for 1,055 metres. It also acquired by staking a further 7,477 hectares of mineral claims consisting of 369 units immediately south and northwest of Agnico Eagle Mine's Hammond Reef property.
Falcon also holds four additional projects in Canada.
Contact the author at giles@proactiveinvestors.com
