|By Marketwired .||
|December 19, 2013 04:31 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/19/13 -- Falco Pacific Resource Group Inc. ("Falco Pacific" or the "Company") (TSX VENTURE: FPC) provides the following operational update on the Company's activities of their core project area, the Horne Mine Complex - Rouyn-Noranda Project, including work on the Horne 5 resource estimate.
Ongoing digitization and data mining of over 80 years of historic mining and exploration records from the Horne Mine Complex has confirmed detailed logs of an additional 6,600 historic drill holes. This recently identified information, along with the results of 4,300 holes which are already incorporated into the model and being used as the basis for the initial NI43-101 compliant resource estimate for the Company's Horne 5 gold-silver-copper-zinc deposit, will form a basis for the next phase of the model expansion and refinement for the Horne Mine Complex program.
The Horne Mine Complex, purchased by Falco Pacific in September 2012, includes several past producing mines and a series of high-profile exploration targets. Past producers include:
-- The Horne Mine Upper and Lower H - 53.7Mt @ 6.1 g/t gold, 13 g/t silver, 2.22% copper; -- Quemont - 13.9 Mt @ 5.38 g/t gold, 30.9 g/t silver, 1.31% copper, 2.43% zinc; -- Horne 5 - 0.2 Mt @ 7.1 g/t gold, 0.73% copper; -- Horne Remnor - 0.6 Mt @ 5.8 g/t gold; -- Joliet - 2.1 Mt @ 1% copper; -- Chadbourne - 1.7 Mt @ 3.24 g/t gold, 1.2 g/t silver.
Phase 2 Update
The digitization and data mining approach has been a relatively inexpensive program for Falco Pacific that has yielded a highly advanced proprietary 3D working model for the Horne 5 deposit ("Proprietary Horne Model"). The project has moved rapidly from initial startup in April 2013 to completion of Phase 1 in September 2013. Phase 2 includes the production of a NI-43-101 compliant resource estimate for the Horne 5 deposit which is now in the final stages. The delivery of the NI 43-101 resource estimate (see NR 13-10, September 16, 2013) is expected in the first quarter of 2014.
The Proprietary Horne Model highlights to date are as follows:
-- Digitized 370 level plans, 620 cross-sections, 99 longitudinal sections, representing 55,000 metres of underground development on 22 levels and 18 sublevels developed by Noranda between 1931 and 1976. -- Inputted over 4,300 drill holes (305,000 metres) and 150,000 sample assays that been incorporated into the model and form the basis for the upcoming resource estimate. See link to drill traces. -- Validation and verification of the plans, sections, drill collar locations, drill hole surveys, and sample assays has been completed. -- Analyses of sixteen (16) historic drill holes for a total of 121 core samples show good correlation to historic assays for gold, silver, copper, and zinc, and recent specific gravity determinations depict excellent reproducibility compared to calculated specific gravity values to be used in the forthcoming resource estimate. -- At the current stage, the exceptional data quality and coverage and the completed QAQC programs, allows the Mineral Resource Estimate to be completed without requirements for confirmation drill holes, saving the Company significant time and expense.
Historic Drill Database Expands
The data mining exercise has identified an additional 6,600 historic drill holes (460,000 metres) including 217,000 gold, silver, copper and zinc analyses. A significant number of these holes are in areas not previously mined and include areas adjacent to the Horne 5 deposit.
Falco Pacific is also inputting over 200 drill holes from the gold rich Horne West deposit located 500 metres west of Horne 5. These newly digitized holes once incorporated will expand on the scope and area of the Proprietary Horne Model which will help generate additional exploration targets leading to potential resource expansion.
Stephane Poitras, Senior Exploration Geologist, (P.Geo.) is the qualified person for this release as defined by NI 43-101 and has reviewed and verified the technical information contained herein.
About Falco Pacific Resource Group
Founded in 2012 with the acquisition of the 728 square kilometre Rouyn Noranda Project in Quebec, Falco Pacific is led by a veteran exploration team and is focused on the rapid evaluation of precious and base metal targets in one of the world's great mining camps.
For more information, please go to http://www.falcopacific.com.
On behalf of the board of directors of Falco Pacific Resource Group Inc.
Kelly Klatik, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
The company advises that the production, tonnage and grades listed above are historical in nature and have not been verified.
This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the completion of any proposed activities, anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to inaccuracy of historic information/results, third party access agreements, weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the receipt of regulatory approval related to the proposed transaction, availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.
Falco Pacific Resource Group
Mr. Dean Linden