Vancouver, B.C., April 27, 2021. FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTC PINKS); (“Falcon” or the “Company”) creates Falcon Gold LatamARG S.A. (“LatamARG”) to manage the day to day operations and have a direct presence on the ground on the newly acquired Esperanza project in Argentina. Falcon Gold LatamARG S. A. will be headed by country manager Mr. Juan Carlos Navas Díaz, a Venezuelan citizen with permanent residence in Argentina.
Mr. Navas is an senior executive with over 25 years of experience in corporate finance, management and operations in mining, and energy. Mr. Navas was a Country Manager Argentina in CruzSur Energy & President of Alianza Petrolera Argentina S.A.; currently also Mr. Navas is responsible for the claim for mining rights of Chicanan East, West and El Callao, located in Bolívar state in Venezuela, property of Venezuelan companies handled by Grúpo ValGold de Venezuela C.A. and Grupo Global Horizon C. A., where Mr. Navas is President and Founding Director since 2006. He was a Founding Director and VP of Administration & Finance of the Group: Bolívar Gold, Gran Colombia Resources, Antill Invest House, Geo Expert and Campos de Oro C.A.; other positions held by Mr. Navas include the International Marketing Manager at Antill Invest House & Skalar Analytical BV, National Marketing Coordinator at Industrias Ventane C.A. – Vengas Group, now PDVSA Gas, and Banking Agencies Coordinator in Maracay Entidad de Ahorro y Préstamo – BANAP.
Mr. Karim Rayani, Falcon’s Chief Executive Officer, commented, “I’m pleased to welcome Mr. Navas to the Falcon Team. Having a local presence in Argentina will help streamline operations as we prepare the necessary permitting to begin our first phase of exploration in the coming weeks. “
Dr. Daniel Rubiolo, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.
About Falcon Gold Corp., the Central Canada Gold Mine Project, and Jack Lake Trend
Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon’s flagship project, the Central Canada Gold Mine, is approximately 20 km south east of Agnico Eagle’s Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off of the Quetico Fault Zone (“QFZ”) and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.
History of Central Canada gold mine includes;
1901 to 1907 – Shaft constructed to a depth of 12 m and 27 oz of gold from 18 tons using a stamp mill.
1930 to 1934 – Central Canada Mines Ltd. installed a 75 ton per day gold mill. Development work included 1,829 m of drilling and a vertical shaft to a depth of 45 m with about 42 m of crosscuts and drifts on the 100-foot level. In December, 1934 the mine had reportedly outlined approximately 230,000 ounces of gold with an average grade of 9.9 g/t Au.
1935 – With the on-going financial crisis of the Great Depression, the Central Canada Mines was unable to fund operations and the mine ceased operations.
1965 – Anjamin Mines completed diamond drilling and in hole S2 returned a 2 ft section of 37.0 g/t Au and hole S3 assayed 44.0 g/t Au across 7 ft.
1985 – Interquest Resources Corp. drilled 13 diamond holes totaling 1,840 m in which a 3.8 ft intersection showed 30.0 g/t Au.
2010 to 2012 – TerraX Minerals Inc. conducted programs that included line cutting, geological surveys and 363 m of drilling.
2020 – Falcon Gold Corp. completed its inaugural 17-hole program totaling 2,942.5 m of core.
The Company holds 5 additional projects. The Camping Lake Gold property and the Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property near Sudbury Ontario; and in BC, the Spitfire-Sunny Boy Gold Claims and the Gaspard property.