# Falco Resources Announces Updated Feasibility Study for Horne 5 Project, Delivering After-Tax NPV5% C$3.35 Billion, IRR of 28.2% and Cash Flow of C$6.4 Billion at Base Case Gold Price of US$3,600/Oz Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e Original source: https://money.tmx.com/en/quote/FPC/news/5346109427328722/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri Publisher: tmx Original announcement: 2026-06-17T11:45:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Falco Resources Ltd. - Ticker: FPC - Exchange: TSX - Region: Québec, Canada - Primary commodity: Gold - Secondary commodities: Silver, Copper, Zinc - Document categories: Resource update, Economic study, Metallurgy - Extracted: 2026-09-17 22:45:42 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Falco Resources announced an updated Feasibility Study for its Horne 5 Project, reporting a robust after-tax NPV5% of C$3.35 billion and an IRR of 28.2% at a base case gold price of US$3,600/oz. The study outlines a 15-year underground mine with average annual gold production of 220,300 payable ounces and a low AISC of US$782/oz. This represents a significant improvement over the 2021 FS, with the project benefiting from substantial copper, zinc, and silver by-product credits and strong local support in Québec. Reasoning: The updated Feasibility Study for the Horne 5 Project demonstrates significantly improved economics with a high after-tax NPV and IRR, low AISC, and a long mine life, positioning it as a major gold producer. The study is NI 43-101 compliant and prepared by independent QPs, indicating high confidence in the results, despite pending final permitting decisions. - Positive factor: Robust economics with high after-tax NPV and IRR - Positive factor: Significant increase in NPV and IRR compared to prior study - Positive factor: Low all-in sustaining costs \(AISC\) positioning as 1st quartile producer - Positive factor: Long mine life of 15 years with potential for further development - Positive factor: Strong local support and advanced permitting process - Positive factor: NI 43-101 compliant Feasibility Study prepared by independent QPs - Negative factor: Permitting not fully complete, with a government decision expected by end of 2026 - Negative factor: Funding not explicitly stated as fully committed beyond the silver stream agreement Facts used in scoring: 34 ## Classification and evidence **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The source explicitly discloses a revised resource estimate Evidence · text > updated mineral resource estimate **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("CIP"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 32. Some facts used in scoring do not have a stored record. ## Resource Estimates (28) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-3) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:a92e91891eb67884efde - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 13049000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 0.547 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.8 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Measured gold resource contributes significantly to the project's overall value and confidence. - Positive factor: High confidence Measured category - Positive factor: Significant contained gold - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 1.30 Context: 13.049 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-4) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:a92e91891eb67884efde - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 13049000 - Grade: 14.64 - Grade Unit: g/t - Contained Metal: 6.143 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.8 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Measured silver resource adds significant byproduct value to the project with high confidence. - Positive factor: High confidence Measured category - Positive factor: Significant contained silver as a byproduct - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 14.64 Context: 13.049 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-5) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:a92e91891eb67884efde - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 13049000 - Grade: 0.15 - Grade Unit: % - Contained Metal: 44.175 - Contained Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.8 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Measured copper resource provides additional byproduct value and confidence to the project. - Positive factor: High confidence Measured category - Positive factor: Significant contained copper as a byproduct - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 0.15 Context: 13.049 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-6) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:a92e91891eb67884efde - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 13049000 - Grade: 0.65 - Grade Unit: % - Contained Metal: 186.654 - Contained Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.8 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Measured zinc resource contributes valuable byproduct credits and enhances project confidence. - Positive factor: High confidence Measured category - Positive factor: Significant contained zinc as a byproduct - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 0.65 Context: 13.049 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-7) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:9cf525e3aa16cb9de260 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 109403000 - Grade: 1.33 - Grade Unit: g/t - Contained Metal: 4.669 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated gold resource represents a substantial portion of the project's gold endowment, supporting its economic viability. - Positive factor: Large Indicated gold resource - Positive factor: Significant contained gold - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 1.33 Context: 109.403 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-8) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:9cf525e3aa16cb9de260 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 109403000 - Grade: 13.27 - Grade Unit: g/t - Contained Metal: 46.678 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated silver resource provides substantial byproduct credits, enhancing the project's overall economics. - Positive factor: Large Indicated silver resource - Positive factor: Significant contained silver as a byproduct - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 13.27 Context: 109.403 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-9) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:9cf525e3aa16cb9de260 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 109403000 - Grade: 0.15 - Grade Unit: % - Contained Metal: 363.522 - Contained Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated copper resource adds valuable byproduct credits and contributes to the project's overall economic robustness. - Positive factor: Large Indicated copper resource - Positive factor: Significant contained copper as a byproduct - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 0.15 Context: 109.403 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-10) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:9cf525e3aa16cb9de260 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 109403000 - Grade: 0.7 - Grade Unit: % - Contained Metal: 1693.832 - Contained Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated zinc resource provides substantial byproduct credits, further enhancing the project's economic potential. - Positive factor: Large Indicated zinc resource - Positive factor: Significant contained zinc as a byproduct - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 0.70 Context: 109.403 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-11) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:420c65357787cf15b270 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 30071000 - Grade: 1.23 - Grade Unit: g/t - Contained Metal: 1.189 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.74 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Inferred gold resource provides future exploration upside but requires further drilling to upgrade confidence. - Positive factor: Additional gold resource potential in the Inferred category - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone Evidence · table > 1.23 Context: 30.071 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-12) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:420c65357787cf15b270 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 30071000 - Grade: 17.17 - Grade Unit: g/t - Contained Metal: 16.601 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.74 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Inferred silver resource offers future byproduct potential but requires further validation. - Positive factor: Additional silver resource potential in the Inferred category - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone Evidence · table > 17.17 Context: 30.071 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-13) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:420c65357787cf15b270 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 30071000 - Grade: 0.17 - Grade Unit: % - Contained Metal: 110.218 - Contained Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.74 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Inferred copper resource provides future byproduct potential but requires further validation. - Positive factor: Additional copper resource potential in the Inferred category - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone Evidence · table > 0.17 Context: 30.071 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-14) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:420c65357787cf15b270 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 30071000 - Grade: 0.55 - Grade Unit: % - Contained Metal: 363.64 - Contained Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.74 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Inferred zinc resource offers future byproduct potential but requires further validation. - Positive factor: Additional zinc resource potential in the Inferred category - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone Evidence · table > 0.55 Context: 30.071 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-15) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:9701e50f365dcfc91510 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 8400000 - Grade: 1.41 - Grade Unit: g/t - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Proven gold reserve provides the highest level of confidence for the project's economic viability and mine plan. - Positive factor: Highest confidence Proven Reserve category - Positive factor: QP signed and CIM compliant Evidence · table > 1.41 Context: 8.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-16) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:9701e50f365dcfc91510 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 8400000 - Grade: 15.8 - Grade Unit: g/t - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Proven silver reserve adds high-confidence byproduct value to the project's economic plan. - Positive factor: Highest confidence Proven Reserve category - Positive factor: Significant contained silver as a byproduct - Positive factor: QP signed and CIM compliant Evidence · table > 15.8 Context: 8.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-17) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:9701e50f365dcfc91510 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 8400000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Proven copper reserve contributes high-confidence byproduct value to the project's economic plan. - Positive factor: Highest confidence Proven Reserve category - Positive factor: Significant contained copper as a byproduct - Positive factor: QP signed and CIM compliant Evidence · table > 0.17 Context: 8.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-18) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:9701e50f365dcfc91510 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 8400000 - Grade: 0.75 - Grade Unit: % - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Proven zinc reserve adds high-confidence byproduct value to the project's economic plan. - Positive factor: Highest confidence Proven Reserve category - Positive factor: Significant contained zinc as a byproduct - Positive factor: QP signed and CIM compliant Evidence · table > 0.75 Context: 8.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-19) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:f119a6b74532abf2aead - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 72500000 - Grade: 1.44 - Grade Unit: g/t - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. - Positive factor: Large Probable Reserve category - Positive factor: Significant contained gold - Positive factor: QP signed and CIM compliant Evidence · table > 1.44 Context: 72.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-20) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:f119a6b74532abf2aead - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 72500000 - Grade: 14 - Grade Unit: g/t - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable silver reserve adds substantial byproduct value to the project's mine plan. - Positive factor: Large Probable Reserve category - Positive factor: Significant contained silver as a byproduct - Positive factor: QP signed and CIM compliant Evidence · table > 14.0 Context: 72.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-21) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:f119a6b74532abf2aead - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 72500000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable copper reserve contributes valuable byproduct credits to the project's mine plan. - Positive factor: Large Probable Reserve category - Positive factor: Significant contained copper as a byproduct - Positive factor: QP signed and CIM compliant Evidence · table > 0.17 Context: 72.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-22) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:f119a6b74532abf2aead - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 72500000 - Grade: 0.78 - Grade Unit: % - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable zinc reserve adds substantial byproduct credits to the project's mine plan. - Positive factor: Large Probable Reserve category - Positive factor: Significant contained zinc as a byproduct - Positive factor: QP signed and CIM compliant Evidence · table > 0.78 Context: 72.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-26) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:0d01834f47b23a5af39d - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122452000 - Grade: 1.32 - Grade Unit: g/t - Contained Metal: 5.216 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Indicated resource category - Positive factor: Significant contained metal equivalent - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 1.32 Context: 122.452 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-27) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:0d01834f47b23a5af39d - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122452000 - Grade: 13.42 - Grade Unit: g/t - Contained Metal: 52.822 - Contained Unit: moz - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Indicated resource category - Positive factor: Significant contained metal equivalent - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 13.42 Context: 122.452 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-28) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:0d01834f47b23a5af39d - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122452000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Indicated resource category - Positive factor: Significant contained metal equivalent - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 0.15 Context: 122.452 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-29) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: resource - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Martin Perron - Resource group id: resource:0d01834f47b23a5af39d - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122452000 - Grade: 0.7 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Metal Eq. Grade: 1.81 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Indicated resource category - Positive factor: Significant contained metal equivalent - Positive factor: NI 43-101 compliant and QP signed Evidence · table > 0.70 Context: 122.452 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-30) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:261d6980db25feedbfcf - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 80900000 - Grade: 1.44 - Grade Unit: g/t - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Probable Reserve category - Positive factor: Significant contained gold - Positive factor: QP signed and CIM compliant Evidence · table > 1.44 Context: 80.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-31) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:261d6980db25feedbfcf - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 80900000 - Grade: 14.1 - Grade Unit: g/t - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Probable Reserve category - Positive factor: Significant contained gold - Positive factor: QP signed and CIM compliant Evidence · table > 14.1 Context: 80.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-32) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:261d6980db25feedbfcf - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 80900000 - Grade: 0.17 - Grade Unit: % - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Probable Reserve category - Positive factor: Significant contained gold - Positive factor: QP signed and CIM compliant Evidence · table > 0.17 Context: 80.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-resource-facts-33) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Resource scope - Estimate type: reserve - Effective date: 2026-06-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Geneviève Auger - Resource group id: resource:261d6980db25feedbfcf - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 80900000 - Grade: 0.77 - Grade Unit: % - Cutoff Grade: 119 - Cutoff Unit: $/t NSR #### Prior Estimate - Resource Date: 2026-06-02 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Large Probable Reserve category - Positive factor: Significant contained gold - Positive factor: QP signed and CIM compliant Evidence · table > 0.77 Context: 80.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (4) ### cyanide leaching, CIP [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-metallurgical-facts-1) Horne 5 Project · gold #### Identity - Project: Horne 5 Project - Commodity: gold - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Test Work - Program Status: detailed - Test Type: cyanide leaching, CIP - Processing Route: SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP - Grind P80: 12 µm #### Recovery - Recovery: 88.3 % - Recovery Basis: to\_payable\_metal - Head Grade: 1.44 - Head Grade Unit: g/t #### Lab - Consultant: BBA Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The high payable gold recovery is a key positive for the project's economics, indicating efficient extraction from the pyrite concentrate. - Positive factor: High payable gold recovery - Positive factor: Concentrates free of significant deleterious elements - Positive factor: Detailed test program supporting feasibility study Evidence · text > average payable recoveries are estimated at 88.3% for gold #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-metallurgical-facts-23) Horne 5 Project · copper #### Identity - Project: Horne 5 Project - Commodity: copper - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP - Grind P80: 55 µm #### Recovery - Recovery: 75.7 % - Recovery Basis: to\_payable\_metal - Head Grade: 0.15 - Head Grade Unit: % - Conc. Grade: 16 - Conc. Grade Unit: % #### Lab - Consultant: BBA Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The good payable copper recovery and high-grade concentrate contribute positively to the project's byproduct credits and marketability. - Positive factor: Good payable copper recovery - Positive factor: High-grade copper concentrate - Positive factor: Concentrates free of significant deleterious elements - Positive factor: Detailed test program supporting feasibility study Evidence · text > average payable recoveries are estimated at 75.7% for copper #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 75.7% is below the weak band \(80%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-metallurgical-facts-24) Horne 5 Project · zinc #### Identity - Project: Horne 5 Project - Commodity: zinc - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP - Grind P80: 55 µm #### Recovery - Recovery: 72.8 % - Recovery Basis: to\_payable\_metal - Head Grade: 0.7 - Head Grade Unit: % - Conc. Grade: 52 - Conc. Grade Unit: % #### Lab - Consultant: BBA Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The good payable zinc recovery and high-grade concentrate enhance the project's byproduct credits and marketability. - Positive factor: Good payable zinc recovery - Positive factor: High-grade zinc concentrate - Positive factor: Concentrates free of significant deleterious elements - Positive factor: Detailed test program supporting feasibility study Evidence · text > average payable recoveries are estimated at 72.8% for zinc #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### cyanide leaching, CIP [Link to this fact](https://atlas-extractions.minestarters.com/news/falco-resources-announces-updated-feasibility-study-for-horne-5-project-deliveri--b23bdb73-58ae-4340-b242-977fcab5a42e#fact-metallurgical-facts-25) Horne 5 Project · silver #### Identity - Project: Horne 5 Project - Commodity: silver - Region: canada\_qc - Reported Region: Québec, Canada - Ticker: FPC #### Test Work - Program Status: detailed - Test Type: cyanide leaching, CIP - Processing Route: SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP - Grind P80: 12 µm #### Recovery - Recovery: 74.2 % - Recovery Basis: to\_payable\_metal - Head Grade: 14.1 - Head Grade Unit: g/t #### Lab - Consultant: BBA Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-17T00:00:00.000Z Reasoning: The good payable silver recovery contributes valuable byproduct credits to the project's overall economics. - Positive factor: Good payable silver recovery - Positive factor: Concentrates free of significant deleterious elements - Positive factor: Detailed test program supporting feasibility study Evidence · text > average payable recoveries are estimated at 74.2% for silver #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 74.2% is below the weak band \(75%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.