In the news below Falco Resources has signed a contract with ABB Canada to supply a hoisting system for the Horne 5 project. While this might not seem like a big deal it shows that the Company is continuing to move the Horne 5 deposit toward production by getting everything in place.
the Horne 5 deposit is in a prolific mining district that has been mined in the past. For more information on the Horne 5 deposit click here.
If you have any questions for the team at Falco please email me and I will bring them up when I chat with management within a week. I can be reached at Fleck[at]kereport.com.
Here is the news…
Falco Secures Hoisting Systems for the Horne 5 Project
Secures 3 Hoists from ABB
MONTRÉAL, QC –(Marketwired – April 26, 2017) – Falco Resources Ltd. (“Falco” or the “Company”) (TSX VENTURE: FPC) is pleased to announce it has entered into an exclusive agreement with ABB Canada, a member of ABB Group, to supply the hoisting systems for its wholly-owned state-of-the-art Horne 5 project, located in Rouyn-Noranda, Québec.
The contract includes the overall engineering, procurement, supply, performance services and installation of the hoisting systems. The hoisting systems will include a production hoist, an auxiliary hoist and a service hoist. The Delivery and installation of the service and auxiliary hoists is expected in 2018.
The new production friction hoist will have a 6.5 metre diameter and will allow a skip payload of 39,400 kg. The service hoist will have a 5.5 metre diameter and will be equipped with a double deck cage for 2 x 50 men capacity or 15,000 kg payload. The auxiliary hoist will have a 3.1 metre diameter and will be equipped with a double deck cage for 2 x 5 men capacity or 1,250 kg payload.
Mr. Luc Lessard, President and CEO of Falco, commented, “We are extremely pleased to have entered into this partnership with ABB Canada to supply the hoisting systems for the Horne 5 project. ABB is the leader for hoisting solutions in the mining industry and the perfect partner to supply the hoisting systems of our state-of-the-art Horne 5 project. Our partnership goes beyond simply delivering the equipment; ABB’s proposal will enable the Company to accelerate the installation of the service and auxiliary hoist which will play a strategic role during the dewatering and shaft reconditioning for the Horne 5 project. Additionally, ABB will be providing support and performances guarantees for the friction hoist for the first three years of production at Horne 5.”
“We are proud to be chosen by Falco to be part of this important state-of-the-art project in Quebec,” commented Mrs. Nathalie Pilon, President of ABB Canada. “The long history of cooperation between ABB and Falco’s management, and also ABB’s decades of deep knowledge and experience in mine hoist application, were key factors in winning this order.”
About Falco Resources Ltd.
Falco is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns 68,800 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal property is the Horne 5 Project located in 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 Gold Royalties Ltd is the largest shareholder of the Company and currently owns 14.2% of the outstanding shares of the Company.
About ABB Inc.
ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 132,000 employees. www.abb.com
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 Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved, the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Without limiting the generality of the foregoing statements with respect to the timely delivery and installation of the service and auxiliary hoist and potential time savings constitute forward-looking statements”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risk and uncertainties include, but are not limited to, the failure to obtain the delivery and installation of the service and auxiliary hoist in 2018 and realization of time savings and the risk factors set out in Falco’s annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedar.com, as well as all assumptions regarding the foregoing. 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 frame 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
For further information contact: Vincent Metcalfe Chief Financial Officer 514-905-3162 info@falcores.com Bettina Filippone Renmark Financial Communications Inc. 514-939-3989 bfilippone@renmarkfinancial.com