Canadian miner signs deal to buy Chilean gold project

Photo: Falcon

Vancouver-based Falcon Gold has announced it signed a memorandum of understanding (MoU) to buy the Viernes gold project in Northern Chile.

The acquisition provides to Falcon a tremendous opportunity to explore for potential bonanza-grade with epithermal low to intermediate sulfidation gold-silver, and porphyry copper-moly mineralization in one of south Americas greatest mineral endowed Paleocene-Eocene belts,” the miner said in a statement.

The Viernes Project has the makings of a contender in a world class district, not only is it adjacent to majors such as Yamana's El-Peñon Gold-Silver mine, which produces 160,000 ounces of Gold per year and 5,000,000 million ounces of silver. It's also just 30kms from the Escondida porphyry Copper-Gold-Moly cluster, the largest copper producing hub in the world,” said Karim Rayani, the company’s CEO.