Falco Resources’ Horne 5 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.
On October 16, 2017, Falco announced the results of a positive feasibility study prepared in accordance with National Instrument 43-101 for the Company's Horne 5 Gold Project located in Rouyn-Noranda, Québec, Canada.
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.
Mine life of 15 years, with peak-year payable production of 268,000 ounces, average life-of-mine ("LOM") annual payable production of 219,000 ounces of gold and 235,000 ounces at steady-state;
The mineral resource was estimated using Geovia GEMS 6.8. The estimate is based on 5,980 diamond drill holes (483,254 m) of which 4,141 cut mineralized zones for a total of 178,150 m of core within these zones. For silver, the estimate also uses the results of an exhaustive metallurgical test comprising 2,112 diamond drill holes assayed for silver over a total length of 75,540 metres. A minimum true thickness of 7.0 m was applied, using the grade of the adjacent material when assayed, or a value of zero when not assayed. Only the silver interpolation in the Inferred mineral resources does not use the material when not assayed.
The estimate database also contains 14,799 channel samples for a total of 23,791 m from historically sampled drifts. Channel sample data was only used for distance to composite criterion for mineral resource classification purposes.
