Falcon Metals identifies high-grade mineral sands discovery at Farrelly prospect

Falcon Metals (ASX: FAL) has drilled into a thick, continuous zone of high-grade mineralisation at the 100%-owned Farrelly prospect in Victoria.

The company has identified significant high-grade mineral sands potential in the results from a 91-hole aircore (AC) drilling programme at Farrelly, located within its Pyramid Hill gold project area.

The latest program followed up on the high-grade reconnaissance drilling results from Pyramid Hill announced in early March 2024.

Promising start

To date, the new results have defined high-grade mineralisation over an approximately 1,200-metre by 600m area within Farrelly, with mineralisation at the Main Zone remaining open in several directions.

Managing director Tim Markwell said Falcon has also identified further high-grade zones up to 5 kilometres north of the Main Zone, indicating a potential large-scale strandline-style system.

“The results at Farrelly are quite outstanding and define what appears to be a discovery of a continuous zone of high-grade heavy mineral sands over a sizeable area, which remains open,” Mr Markwell said.

“While it is early days in our understanding of Farrelly, with more drilling and test work required, it is shaping up to become a significant mineral sands deposit, in proximity to other major deposits, but at far higher grades.”

Initial mineralogical work on the first phase of AC drill holes indicated a favourable heavy minerals assemblage including zircon, ilmenite and rutile, along with the potential for high-value rare earth element (REE)-bearing monazite and xenotime.

Bulk test work

Falcon is currently designing a bulk test work program to further understand the mineralogical and metallurgical properties of the Farrelly prospect.

This work will also provide important information on likely metallurgical recoveries of the valuable heavy minerals through conventional wet and dry separation techniques.

“We need to assess the heavy mineral assemblage and further work is needed on the sizing, clay content and recovery, which are all important factors in progressing mineral sands projects,” Mr Markwell said.

“There is also an opportunity to look at the critical minerals content with the potential for monazite and xenotime, containing important REEs.”

“Importantly, we have not yet defined the limits of the high-grade zone and drilling to test this is expected to recommence in the summer once harvesting is completed, in parallel with our gold exploration at Pyramid Hill.”

Further drilling planned

The initial drilling at Farrelly has included roadside and private land locations.

Falcon will now focus on access to additional private land prior to the commencement of the next drilling campaign, expected to recommence in Q4 2024.

That campaign will look to define the extents of the high-grade Main Zone, as well as the other significant intercepts further north in the greater Farrelly prospect area.