Falcon Gold (TSXV: FG) reported that its exploration team in Argentina found high-grade gold mineralization at concessions of its Esperanza Resources S.A. project, also known as ERSA.
The project is located in the western La Rioja province and it is comprised of seven mineral concessions covering an aggregate area of 20,461 hectares. The property sits on the Sierra de Las Minas District, which is reported to host several past producing gold and silver mines.
In a press release, Falcon reported that the mineralization is localized along northwest-southeast striking linear structures.
The Vancouver-based firm highlighted that the nearby Callanas gold area contains several known veins and that its sampling showed results such as from Callana III of 27.03 g/t Au across 50 cm with Ag, Cu, lead and zinc in amounts greater than the analytical detection limits.
The company also assayed the ERSA X concession, which is approximately 6 kilometres south of the Callanas area and contains the historic San Isidro veins. According to the exploration team, visible gold was found in the veins and was noted in three of four samples taken. Two samples respectively returned 23.13 g/t Au with 4.00 ppm Ag and 8,200.40 ppm Cu over a width of 60 cm and 24.75 g/t Au with 19.90 ppm Ag and 6,182.90 ppm Cu over a width of 100 cm.
"Our belief in the Esperanza project has been well substantiated by this highly successful round of exploration. Our Argentine team has delivered strong results and laid the foundation for the 2019 programs," said Stephen Wilkinson, Falcon's CEO, in the media brief.