May 13 2015
Falco Resources Ltd. is pleased to announce it is accelerating the development of the Horne 5 deposit.
Development of Horne 5 Deposit
Falco is transitioning to a mining development company through the development of its Horne 5 deposit. Under the leadership of Mr. Luc Lessard, President and Chief Executive Officer, the Company now benefits from successful mine build experience to advance the required technical and environmental studies. The Company believes the development strategy will enable it to create and unlock the most value for all shareholders while preserving the exploration upside on the land package.
Exploration near the Horne 5 Deposit
As a result of this transition, the previously announced regional exploration program will be amended to prioritize exploration work near the existing deposit. Following further data compilation from the existing database, Falco will be targeting zones within 2 kilometers of the Horne 5 deposit and InnovExplo was mandated and is currently reviewing additional data to identify targets that could be integrated to the Horne 5 deposit.
The current confirmatory drilling program is progressing well. Drilling has been completed on three initial holes and two wedges on the Horne 5 deposit. The current program is expected to be completed in the third quarter of 2015. All holes have been logged and have intercepted the targeted mineralization. Sampling was completed on all holes, assays were sent to ALS laboratory and results are pending. Data compilation and target generation continues on the overall land package.
Given the transition to development, Dr. Michael Byron has resigned as Falco's Vice-President Exploration and Mr. Dean Linden has resigned as Falco's Senior Vice-President, Business Development. The Board of Directors wishes to thank Dr. Byron and Mr. Linden for their contribution to the exploration success of the Company and for positioning Falco as Québec's next mining developer.