Falco Resources’ Horne Project area in Rouyn-Noranda encompasses the former producing Horne and Quemont mines, as well as the Horne 5 deposit. The Horne mine, discovered by EH Horne in 1920 and operated by Noranda from 1926 to 1976, was one of the richest VMS mines in Canada as it produced over 54 Mt @ 6.1 g/t gold, 13 g/t silver and 2.22% copper. The Quemont mine is located 600 metres north of Horne and produced approximately 2 million ounces of gold and 400 million pounds of copper between 1949 and 1971.

Horne 5 Deposit

The Horne 5 Deposit sits immediately below the former producing Horne Mine, which was operated by Noranda Inc. from 1926 to 1976 and produced approximately 2.5 billion pounds of copper and 11.6 million ounces of gold.

Falco announced a maiden NI 43-101 resource estimate for the Horne 5 deposit on March 4, 2014.  On October 3, 2016, Falco reported an updated mineral resource estimate for its wholly-owned Horne 5 gold project located in Rouyn-Noranda, Québec:

  • Measured Resource of 736,000 gold equivalent ounces ("oz AuEq"), including 475,410 oz Au contained in 9.4 million tonnes averaging 2.45 g/t AuEq (1.58 g/t Au; 16.33 g/t Ag; 0.18% Cu; 0.81% Zn).

  • Indicated Resource of 6,336,000 gold equivalent ounces ("oz AuEq"), including 4,088,383 oz Au contained in 81.7 million tonnes averaging 2.41 g/t AuEq (1.56 g/t Au; 14.19 g/t Ag; 0.18% Cu; 0.86% Zn).

  • Inferred Resource of 1,710,000 oz AuEq, including 1,053,061 oz Au contained in 22.3 million tonnes averaging 2.39 g/t AuEq (1.47 g/t Au; 22.98 g/t Ag; 0.2% Cu; 0.68% Zn).

See the press release dated October 3, 2016

The Horne 5 resource estimate is based on 4,384 underground drill holes (305,788m) drilled by Noranda between 1924 and 1976 and 18 new confirmation drill holes (17,300m) drilled by the Company in 2015. The resource estimate also includes silver assays from exhaustive metallurgical test work completed by Noranda (comprising 2,112 drill holes representing 75,540m) grouped in 54 lots.

Falco’s confirmation drill holes were collared from surface. They successfully confirmed previously drilled areas between 650m and 2,035m below surface. The historic Noranda holes were collared at depths ranging from 600m to 2,300m below surface across a strike length of up to 1,000m. The majority of drilling was conducted as radiating “fan drilling” on 15m spacing from 40 underground working levels developed throughout the deposit. The 15m spacing is significantly closer than standard drill spacing used in resource estimation work today providing a very high level of confidence in the data. Falco sampled at 1m intervals, Noranda dominantly sampled at 3m core lengths (which homogenizes individual higher grade results), generating the more than 87,000 assays that were used in the 2015 resource estimate.

2017 ACTIVITIES

  • Feasibility study to be completed by mid-2017
  • Environmental Impact Assessment study to be completed by mid-2017

 2017 Regional Exploration Program:

  • Central Camp: Exploration work on the Central Camp properties will include approximately 15,000 to 18,000 metres of drilling
  • RIMO: Work will focus on the western extension of the 2015 geophysical survey and field testing of geophysical targets with new drilling.
  • Lac Laynes: Planned work includes field validation (including rock sampling) and drilling of geophysical targets.
  • Flavrian: Exploration at Flavrian will evaluate the mineral potential of the Duprat Syenite, which shows similar geological context to the Upper Beaver deposit in Ontario. Work includes approximately 2,000 metres of drilling.
  • Noralex, Routhier and Blake River Area: Work will include drilling approximately 4,000 metres on the Young Buck showing and drilling on the south west portion of the property. The Routhier property and Blake River properties will see new geophysics, surface trenching and drilling of approximately 3,500 metres.

2017 Horne 5 Exploration Program

  • New exploration drilling will test the western extension between the West Zone and the H5-SW zone. Approximately 10,000 metres of drilling is planned. Three main areas are being targeted covering a total distance of approximately 1.4km long, and between 300 metres and 1,200 metres of vertical depth.

 

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Falco Resources Ltd.

1100, avenue des Canadiens-de-Montréal, Suite 300
Montréal, QC H3B 2S2

Tel: +1.514.905.3162

info@falcores.com

+1.514.940.0670
+1.514.940.0669
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