MONTRÉAL, May 13, 2024 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX.V: FPC) (Falco or the Corporation) is pleased to announce the opening of Espace Falco located at 157 rue Principale in Rouyn-Noranda. This new space is dedicated to meeting citizens, groups and organizations wishing to learn about the Falco Horne 5 project (the Falco Horne 5 Project).
In anticipation of the public examination (public hearings) of the Bureau d'audiences publiques sur l'environnement (BAPE), Falco invites the population to an information meeting organized by the BAPE as part of the public information period. This information meeting will be held on Tuesday, May 21 at 7:30 p.m. at the Petit Théâtre du Vieux-Noranda (112, 7e rue, Rouyn-Noranda, QC, J9X 1Z9) and will allow the community to learn and ask questions about the Falco Horne 5 Project.
Hélène Cartier, Vice-President, Environment, Sustainable Development and Community Relations, said: We look forward to continuing our collaborative approach with host communities and the launch of the BAPE process will open up more consultations and transparent and direct discussions with stakeholders, as well as allowing the advancement of the environmental permit process towards obtaining a ministerial decree authorizing the Falco Horne 5 Project.
FALCO HORNE 5 PROJECT: A WORLD-CLASS HISTORICAL DEPOSIT
Environment
- Disposal of processing tailings in the old mining openings of the Horne mine
- Reuse of the old Quemont 2 shaft as access infrastructure to the Horne 5 mineral zone
- Reuse of the site of a former unrehabilitated tailings pond to complete the storage capacity for mining tailings
- Use of double-walled pipes for the transportation of mining residues and recirculation water installed in the right-of-way of existing roads
- Production of copper concentrates with low GHG emissions given the proximity of the Horne Foundry facilities (< 1km)
- Minimum footprint of the surface infrastructure of the Falco Horne 5 Project
Production
- Polymetallic deposit of massive sulphide type (Au, Ag, Cu, Zn)
- High-volume underground mining favoring the best modern extraction technologies
- Annual production (220,000 ounces of gold / 334,000 ounces Au Eq) “ 15 years LOM
- Concentrate offtake agreements (Cu, Zn) and operating license and indemnity agreement (OLIA) with Glencore (OTC:GLNCY) Canada Corporation
- Feasibility study (2021) reflecting robust financial parameters (based on a gold price of US$1600)
- All-in sustaining costs below US$600 per ounce, considering base metal by-product credits
Luc Lessard, President and CEO declared: In light of the significant progress recently achieved including the signing of the OLIA and confirmation of admissibility of the environmental impact assessment, as well as the ongoing BAPE process, the Falco Horne 5 Project has entered a new, proactive phase, which brings us closer to its execution phase. In addition, during the second half of 2024, Falco will update the feasibility study (2021), particularly in the financial sections, so that it reflects current assumptions, including the increase in the long-term prices of commodities.
About Falco
Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the entire camp and includes 13 former gold and base metal mine sites. Falco's principal asset is the Horne 5 Project located under the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco's largest shareholder owning a 17.3% interest in the Corporation.
For further information, please contact:
Luc LessardPresident and Chief Executive Officer514 261-3336info@falcores.com
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, forward-looking statements) within the meaning of applicable securities laws, in particular Falco's ability to complete the BAPE, to obtain receipt of permits and approvals required to develop the Falco Horne 5 Project and the ability of Falco to efficiently develop and operate the Horne 5 Project based on the terms of the OLIA. These statements are based on information currently available to the Corporation and the Corporation provides no assurance that actual results will meet management's expectations. The occurrence of such events or the realization of such statements is subject to a number of risk factors, including, without limitation, the ability of Falco to provide the financial assurance guarantees required by the OLIA and the exercise by Glencore Canada of rights under the OLIA which could affect the development and operation of the Horne 5 Project, together with the other risk factors identified in Falco's Annual Information Form and other continuous disclosure documents available at www.sedarplus.com. Although Falco believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Falco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Source: Falco Resources Ltd.