Falcon Metals (ASX:FAL) is lining up additional aircore (AC) drilling after uncovering a 1km long gold trend at its Pyramid Hill Gold Project in Victoria, Australia.
The $22.12 million market capitalisation company says the additional AC drilling will test for extensions to identified zones and assist in targeting for a potential future diamond drilling program.
Falcon reports the additional drilling is being planned after results from maiden drilling completed at the historical ‘high-grade’ Banganie Goldfield mapped a mineralised trend over 1km in strike length, as well as additional mineralised zones away from known workings.
Key results include drillhole BAAC0032 with 8m @ 6.22 grams per tonne (g/t) Au from 29m including 5m @ 9.77g/t Au from 32m, which also includes 2m @ 20.02g/t Au from 32m.
The company notes infill drilling near the Kerang area intersected mineralisation 830m south of previous intercept which returned grades of 0.54g/t Au from 118m.
Results for 72 of the 159 holes completed as part of the drilling program have been received with remaining gold and mineral sands results expected later this quarter.
Falcon Metals is a gold explorer operating in the Bendigo Zone of Victoria, which hosts the ‘world-class’ greater than 8 million ounce Fosterville Gold Mine.
As of 30 September 2023, Falcon Metals had $16.081 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Falcon Metals
