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Falcon Metals (ASX:FAL) believes it has identified an emerging “regional scale” gold target at its Pyramid Hill project in Victoria, based on results from its recent aircore drilling program at three targets.
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The company drilled 156 aircore holes (for 18,521 metres) during a program completed on March 6, focusing on the Loddon Vale, Eddington and Mead targets, in addition to redrilling work at Ironbark and Pyramid Hill, where several aircore holes in previous campaigns had not met the target depth.
Evidence of the new regional target emerged through wide-paced aircore drilling at Loddon Vale, which confirmed numerous parallel gold-bearing structures.
Alongside this were broad zones of anomalous gold in bedrock, which hint at potential proximal high-grade zones at Loddon Vale.
In another development, follow-up drilling at Ironbark (40 kilometres north-west of Bendigo) yielded a prime intercept of six metres at 2.4 grams per tonne of gold from 88 metres, including one metre at 13.2g/t Au from 89 metres in one hole.
Falcon now intends to run aircore drilling next season to delineate the large regional-scale structures at Loddon Vale, as well as looking at prospective new areas identified around Raywood, which is 25km north of Bendigo.
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Later in the year, targeted diamond drilling will also be rolled out, focusing on prospective
high-grade mineralisation areas.
After lunchtime, FAL was trading at 10 cents – a rise of 1.01% since market open.
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