08:01 AM EDT, 10/28/2024 (MT Newswires) -- Falco Resources ( FPRGF ) said Monday that it continues to advance its flagship Horne 5 project in Quebec.

The company said it is filing documentation and providing responses to the Office of Public Hearings on the Environment after completing the public hearing process. A report is due for submission to the Minister of the Environment, the Fight Against Climate Change, Wildlife and Parks by Dec. 26.

Falco added that it is working to update a 2021 feasibility study to reflect strong gold and copper prices, with completion targeted in the first half of 2025.

"The corporation expects to obtain a ministerial decree authorizing the Project in H1-2025, which would put Falco in the enviable position of having one of the few permitted large-scale polymetallic gold projects ready to be developed in North America," President and CEO Luc Lessard said.

Falco's share price dropped 6.8% last Friday to $0.345 on the TSXV.