Falcon Metals Accelerates Drilling at Blue Moon Project after Hitting High-Grade Gold

Falcon Metals (ASX: FAL) is preparing to accelerate drilling at its Blue Moon project in the Victorian goldfields following the receipt of further high-grade gold hits.

The company has announced its highest-grade intercept to date at Blue Moon, with the sixth wedge hole Falcon has drilled at the project returning 6.5 metres at 33 grams per tonne gold from 832m including 0.4m at 325g/t from 832.6m and 0.5m at 158g/t from 834.5m.

The exceptionally high-grade hits were part of prioritised results from a zone with numerous occurrences of visible gold, where drilling is ongoing and assays from the remainder of this hole and another pending.

Earlier High-Grade Results

The latest intersections came after Falcon had previously announced high-grade results from its first ever drilling at Blue Moon in the parent hole and three subsequent wedge holes in the eastern limb of the Garden Gully anticline.

“This new intercept is particularly significant given the down-hole width of the zone and its location further from the Garden Gully anticline, increasing the size of our target area for testing along strike,” managing director Tim Markwell said.

“We look forward to the arrival of the second diamond drill rig […] in the coming weeks, which will enable Falcon to accelerate testing of the Garden Gully line further to the north where there are several kilometres of strike extent to explore.”

Additional Wedge Hole

Falcon has added an additional wedge hole to the program, and Parks Victoria has approved seven more drill pads at Blue Moon.

The company initially aims to test 1km of strike within the licence before continuing further north if it confirms continuity of the mineralisation.

Review work is also continuing on several other parallel lines of reef Falcon has interpreted to extend into its permit from the Bendigo goldfield, providing multiple targets for future drilling.

Blue Moon is a down-plunge extension of the Garden Gully anticline that sits directly north of the historical 22 million-ounce Bendigo goldfield.

Falcon developed the project as a conceptual target from a 3D reconstruction of the Bendigo workings, historical reports, and field mapping.