|By Marketwired .||
|August 20, 2014 01:07 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/20/14 -- Falcon Gold Corp. (TSX VENTURE:FG), ("Falcon" or the "Company") announces that it has received Exchange approval and has completed its Option and Joint Venture agreement with Canyon Copper Corp., ("Canyon Copper"). Pursuant to the agreement Falcon can earn up to an 80% interest in the New York Canyon Property ("the Property") which hosts an advanced-stage copper project, located in the Santa Fe Mining District, Mineral County, Nevada.
The New York Canyon Copper Property
The New York Canyon Copper property is located in western Nevada and consists of 21 patented claims covering 420 acres (170 hectares) and 190 unpatented claims covering an area of approximately 3,800 acres (1,520 hectares). The Property is located within the Walker Lane Structural Belt ("WLSB") which extends in a northwest-southeast direction over approximately 670 kilometres ("km") through western Nevada, California, and Arizona. The WLSB is host to a number of significant mineral deposits including Yerington, Comstock, Goldfield, Rawhide, Tonopah-Hall and Dome Hill.
Copper was first discovered on the property in 1875. From 1906 to 1929, the Wall Street Copper Company mined an estimated 8.9 million pounds of copper from approximately 110,000 tons of ore with an average grade of approximately 5.5% Cu. To date, 181 drill holes totaling approximately 39,000 m (128,000 feet) have been completed on the Property.
Canyon Copper acquired 100% of the Property in 2004 subject to a 2% net smelter return and has since undertaken three drill programs focusing on copper oxide skarn mineralization at the Longshot Ridge and Copper Queen Zones.
A CIM-compliant mineral resource estimate completed and reported in 2010, (see note 1 below) of the Longshot Ridge copper oxide zone includes:
-- Indicated resources of 16,250,000 tons at an average grade of 0.43% Cu hosting 139,750,000 pounds of Cu, based on a Cu cut-off grade of 0.20%. -- Inferred resources of 2,900,000 tons at an average grade of 0.31% Cu hosting 18,210,000 pounds of Cu, based on a Cu cut-off grade of 0.20%
Note (1) - Mineral resource estimate and NI-43-101 compliant technical report prepared by Chris Broili, C.P. Geo. & L.P. Geo., Mel Klohn, L.P. Geo. BK Exploration Associates, and Gary Giroux, P. Eng., Giroux Consultants Ltd., dated April 6, 2010. Filed on SEDAR May 6, 2010.
The mineral resource estimate completed on the Longshot Ridge copper oxide zone is historical as defined by NI 43-101 and the Company does not rely on this estimate nor does it treat this estimate as current. The Company will be undertaking independent verification of the historical resource estimate.
The historical mineral resource estimate is based on 58 drill holes completed by operators prior to 2004 and 38 drill holes completed by Canyon Copper during the period from 2004 to 2005. Samples from 34 surface trenches and road cuts were also included in the estimate. Mineralization at Longshot Ridge is described as oxide copper skarn mineralization hosted by Triassic to Jurassic age limestone adjacent to Cretaceous age felsic intrusive rocks. Deeper drilling on the Property has intersected sulphide skarn mineralization. In addition, a sulphide intersection consisting of copper and molybdenum mineralization has been described in the above noted technical report as being part of a copper - molybdenum porphyry. This represents a priority target on the Property for further evaluation by the company.
Under the option agreement, Falcon may earn an initial 60% interest over a four year term by:
-- expending $2,000,000 on exploration and maintenance of the Property; -- issuing to Canyon Copper a total of 1.5 million Falcon common shares; -- making cash payments to Canyon Copper totaling $150,000; and, -- granting to Canyon Copper 500,000 share purchase warrants exercisable at $0.10 for a 2 year period.
To increase its interest to 80%, Falcon has agreed to issue to Canyon Copper an additional 1.0 million common shares and complete a Preliminary Economic Assessment ("PEA"). The PEA report is to assess, in a preliminary manner, the potential of placing all or any part of the Property into Commercial Production in such form and detail as set out in National Instrument 43-101. A Finders' Fee of 330,000 shares in Falcon has been paid in connection with the acquisition of the Property. The shares are subject to a four month hold period which expires in December 2014.
Qualified Person and NI 43-101 Disclosure
Jamie Lavigne, P.Geo is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved this news release and is responsible for the technical information reported herein.
Board of Directors
Falcon is pleased to announce that Mr. Stephen Wilkinson has joined its Board of Directors. In the mid to late 1990's, Mr. Wilkinson was the Vancouver-based mining analyst for RBC Dominion Securities Inc. responsible for small capitalization gold and base metal companies. From 1999 to 2002, he was President, CEO and Director of Northern Orion Explorations Ltd. Over the period of 2001 to 2014, he served as the President, CEO and Director of ValGold Resources Limited during which he concluded more than $40 million in acquisitions, dispositions and financings. Mr. Wilkinson has extensive international experience in the mining and finance industries having served as an officer and director of several private and public companies. Mr. Wilkinson has a Master of Science degree from Carleton University in Ottawa (Geology, 1983) and an MBA degree from Clarkson University in New York (1995).
Falcon also announces the resignation of directors, Mr. David Beilhartz, Mr. Edward Stringer and Mr. Peter Clausi. The Board wishes to thank these directors for their efforts over the last several years during a difficult period for the mining industry.
About Falcon Gold Corp.
Falcon Gold Corp. is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon holds a 100% interest in the Washington Silver project located in the Republic Mining District, northeastern Washington, USA. Falcon's 2012 drill results demonstrate the high grade potential of this silver project with an intersection of 167 grams per tonne (g/t) Ag over 36.5 m including a high grade intercept of 511.57 g/t Ag and 0.83 g/t Au over 9.14 m.
Falcon's Burton Gold Property is located in the Swayze Greenstone Belt, Northeastern Ontario, and is approximately 38 km northwest of IAMGOLD Corporation's Cote Gold Deposit. Drilling completed by Falcon during 2011 included 3.74 g/t Au over an intersection length of 9.96 m (including 10.98 g/t Au over 2.17 m) and 3.25 g/t Au over an intersection length of 10.35 m (including 5.65 g/t Au over 2.85 m). IAMGOLD Corporation has earned a 51% interest in the Burton Property pursuant to an Option agreement with Falcon.
On Behalf of the Board of Directors
FALCON GOLD CORP.
David Tafel, Director
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefor, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Neither 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 release.
Falcon Gold Corp.
VoxImplant has announced full WebRTC support in the newest versions of its Android SDK and iOS SDK. The updated SDKs, which enable audio and video calls on mobile devices, are now compatible with the WebRTC standard to allow any mobile app to communicate with WebRTC-enabled browsers, including Google Chrome, Mozilla Firefox, Opera, and, when available, Microsoft Spartan. The WebRTC-updated SDKs represent VoxImplant's continued leadership in simplifying the development of real-time communication...
Apr. 18, 2015 02:45 AM EDT Reads: 1,759
Chef and Canonical announced a partnership to integrate and distribute Chef with Ubuntu. Canonical is integrating the Chef automation platform with Canonical's Machine-As-A-Service (MAAS), enabling users to automate the provisioning, configuration and deployment of bare metal compute resources in the data center. Canonical is packaging Chef 12 server in upcoming distributions of its Ubuntu open source operating system and will provide commercial support for Chef within its user base.
Apr. 18, 2015 01:45 AM EDT Reads: 1,692
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
Apr. 18, 2015 01:00 AM EDT Reads: 828
PubNub on Wednesday released an open source template to allow developers to add Skype-like video chat into their apps. The free template provides a fully functional video chat platform using WebRTC, PubNub and Google Authentication for a global, reliable collaboration solution. “While the WebRTC protocol has created huge excitement as a way to deliver video chat ubiquitously, there’s still a gap between the protocol itself and the ability to deploy a working, globally scaled, collaboration appl...
Apr. 18, 2015 01:00 AM EDT Reads: 7,315
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Apr. 18, 2015 12:00 AM EDT Reads: 3,801
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Compa...
Apr. 17, 2015 09:45 PM EDT Reads: 2,102
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applicatio...
Apr. 17, 2015 08:45 PM EDT Reads: 2,163
SOASTA, the leader in performance analytics, today reported record growth of the CloudTest community, exceeding 30,000 registered users of the CloudTest platform in Q1 2015. SOASTA also announced widespread adoption of its Web and mobile testing solutions, with more than 1,600 customers completing more than 285,000 tests using CloudTest during the quarter. This rapid growth shows that DevOps-driven digital businesses are embracing a more continuous approach to testing, and CloudTest is meeting t...
Apr. 17, 2015 07:30 PM EDT Reads: 935
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
Apr. 17, 2015 06:00 PM EDT Reads: 1,217
SYS-CON Events announced today that Optimal Design, an Internet of Things solution provider, will exhibit at SYS-CON's Internet of @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Optimal Design is an award winning product development firm offering industrial design and engineering services to the consumer, medical, and defense markets.
Apr. 17, 2015 05:30 PM EDT Reads: 1,561
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists will discuss how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations m...
Apr. 17, 2015 05:00 PM EDT Reads: 1,596
SYS-CON Events announced today that kintone has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. kintone promotes cloud-based workgroup productivity, transparency and profitability with a seamless collaboration space, build your own business applic...
Apr. 17, 2015 04:45 PM EDT Reads: 1,445
SYS-CON Events announced today that Stratoscale, the new data center operating system, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Based in Herzeliya, Israel, Stratoscale is redefining the data center, developing a hardware-agnostic, software platform hyper-converging compute, storage and networking across the rack or data center. The self-optimizing platform automatically distributes all physical...
Apr. 17, 2015 04:45 PM EDT Reads: 1,531
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
Apr. 17, 2015 04:00 PM EDT Reads: 1,265
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at 16th Cloud Expo, Haseeb Budhani, CEO and Co-founder of Soha, will share five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the frict...
Apr. 17, 2015 04:00 PM EDT Reads: 1,320