Acquisition Date

2022 / May / 02


2.0% NSR


Falco Resources Ltd.

The Horne 5 deposit is part of the famous Horne Mine Complex, a past producing gold-silver-copper mine located in Quebec, Canada, 100%-owned by Falco Resources. The mine is located on the site of the former Quemont mine, which is located within the urban limits of the City of Rouyn-Noranda. Due to Horne 5's urban location, excellent infrastructure is available and the site is easily accessible year-round via provincial highways.

An updated Feasibility Study was released in April 2021 that envisions an underground operation producing approximately 320,000 gold equivalent ounces (AuEq) annually over a 15-year mine life. Proven & Probable Mineral Reserves are 80.9 Mt at an average grade of 1.44 g/t gold, 14.14 g/t silver, 0.17% copper, and 0.77% zinc with an effective date of August 26, 2017 (NSR cutoff grade of C$55/tonne)

Falco Resources currently anticipates production to start at the end of 2025. Falco intends to carry out future optimization studies to evaluate alternate development scenarios that would be used to reduce the initial capital requirements and increase revenue in the early stage of the life of mine.

Agreement terms are subject to the closing of the Transactions as defined in the Company's press release dated May 2, 2022.

See press release for more details.