VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/13 -- Falco Pacific Resource Group Inc. ("Falco Pacific" or the "Company") (TSX VENTURE: FPC) is pleased to provide an update on its advanced computer modeling of the Horne 5 gold/silver/copper/zinc deposit. The Horne 5 Deposit hosts a non-43-101 compliant historic resource of 167.83 million tonnes deposit, grading 1.25 g/t gold, 17.14 g/t silver, 0.10% copper and 0.57% zinc(1) (NR 13-02 - February 13, 2013) and is located 100 metres north of the former producing Horne Mine (Historic Production of 54 million tons @ 6.10 g/t gold and 2.22% copper(2)), collectively representing one of the richest mineral deposit settings in North America based in Rouyn-Noranda, Quebec. A qualified person has not done sufficient work to classify any of the historical estimates as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.
In March 2013, the Company retained InnovExplo ("Innov") to construct a computer generated three dimensional model ("3D Model") of the Horne 5 Deposit. Over 9,000 drill holes, 370 level plans, 620 cross sections, and 99 longitudinal sections, are being incorporated into the model with construction currently nearing completion. Acquisition of the original underground survey records enabled the accurate digitization of all mine workings (shafts, level plans, stopes, sections, and drill holes) in a common reference system. This represents the first time that the mine infrastructure and deposit has ever been digitally modeled.
The finished product, among other things, will primarily provide a platform from which to generate resource estimates, to help better define internal high-grade gold sub zones, and help develop new exploration strategies and targets moving forward. A structurally controlled high-grade gold sub-zone is present throughout the core of the #5 Zone (see NR 13-02 February 13, 2013). Modeling should also better define the dimensions and structural controls of this and similar higher grade domains.
"The scale and completeness of infrastructure being modeled rivals anything that I have seen before, and given that this is the first time that the Horne 5 Deposit has been computer rendered, and in such remarkable detail, we will be able to analyze the exploration and economic opportunities of the deposit from an entirely new perspective," states Dr. Michael Byron, VP Exploration for Falco Pacific. "Also, seeing the preliminary modeling of the thicknesses of some of the newly modeled upper level gold zones is very encouraging."
"Horne 5 was last evaluated in a period of much lower gold prices prior to the early 1980's," noted Kelly Klatik, President and CEO for Falco Pacific, "We have seen gold prices and geological modeling techniques advance significantly from that period of time."
The 3D Model to date is ahead of schedule and under budget and the Company is targeting completion the early part of calendar Q3 2013.
Dr. Michael Byron, Vice President Exploration, (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.
(1) The Horne 5 Deposit hosts a non-43-101 compliant historic resource of 167.83 million tonnes, grading 1.25 g/t gold, 17.14 g/t silver, 0.10% copper and 0.57% zinc, which equates to 6.75 million ounces of gold, 92.5 million ounces of silver, 356 million lbs of copper and 2.1 billion lbs of zinc.
All resources estimates identified in this news release as a historic resource, pre-date the implementation of NI43-101. The historic resource information has been obtained from internal Noranda reports which were collectively published in 1980 and which are publically available. These estimates are based on extensive underground exploration drilling and sampling, are repeated in several documents, and are believed to be highly reliable between the 19th and 49th levels. Data for resources below the 49th level are also considered to be reliable but are based on less extensive underground development and drilling. The majority of the source data is based on 10 foot (3.05 metre) assay intervals and "in-house" assaying by Noranda Inc. The internal Noranda reports, prepared on closing of the Horne Mine complex, is the most recent resource estimate for the Horne #5 Zone and contains no specific references to cut-off grades, capping factors and relies on global resource silver grades calculated by Bancroft in 1976.
Bancroft's 1980 estimate of the remnant high-grade gold resource located between the 19th and 57th levels employs a cut-off grade of 5.14 g/t, a capping factor of 17.14 g/t gold and a minimum assay interval of 10 feet (3.05 metres).
Investors are advised that no assessment of the potential for profitable extraction of the above tonnages has been made. A qualified person has not done sufficient work to classify any of the historical estimates as current mineral resources or mineral reserves as defined by NI43-101. The Company is not treating the historical estimates as current mineral resources or reserves as defined by NI43-101. Further compilation of the historic geological and drilling data, resource modeling and confirmation drilling will be necessary to convert the historic estimates outlined above to NI43-101 resources/reserves.
For more information, please go to www.falcopacific.com.
(2) Cattalini et al, 1993
On behalf of the board of directors of
FALCO PACIFIC RESOURCE GROUP
Kelly Klatik, President and CEO
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.
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.
Falco Pacific Resource Group
Mr. Dean Linden
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