New gold exploration company Falcon Metals (ASX:FAL) reports it has launched a ‘large-scale’ aircore drilling program at its Pyramid Hill Gold Project in Victoria.
The company says the program comprises a 2-pronged approach, with both infill target definition drilling and regional prospect generation to be undertaken. Initially 1 aircore rig is in operation on the regional exploration program, with a second aircore drill rig mobilising to site a few weeks later.
It also notes the proposed aircore drilling program is likely to be one of the most ‘extensive’ regional exploration programs by a gold explorer in Victoria, with more than 50,000m of aircore drilling expected in a single season.
“The magnitude of the proposed program potentially makes this one of the larger aircore drilling programs undertaken in Victoria”
Falcon Metals Managing Director Tim Markwell says: “The magnitude of the proposed program potentially makes this one of the larger aircore drilling programs undertaken in Victoria. This is made possible by the scale and quality of Falcon’s strategic ground position in the Bendigo Zone, as well as the strong financial position of the company.
We are especially excited by infill drilling at Ironbark East and Wandoo, plus there are high expectations of new priority prospects being generated by our regional program. We look forward to keeping shareholders updated during this period of substantial activity and news flow.”
Falcon anticipates recommencing infill drilling at the ‘high-priority’ Ironbark East Prospect in early January 2023 with both rigs. Once the infill programs are completed, both rigs will return to the target generation program, allowing the company to refine its search area and focus on ‘higher’ potential target areas in subsequent drill seasons.
The company also intends to complete a targeted diamond drill program in Q1 2023 once results from the infill programs are received.
Falcon Metals is a ‘new, high-profile’ gold exploration specialist that holds over 5,000km-square of tenements in the Bendigo Zone of Victoria. Its flagship asset is the Pyramid Hill Gold Project, which is located northwest and northeast of the Fosterville Gold Mine.
Images: Falcon Metals Ltd
