Falcon Metals (ASX:FAL) reports ‘high-grade’ gold results from its latest drilling at the Blue Moon Gold Project in Victoria, with the Lotus Zone confirmed over 750m of strike.
The company intersected 3m @ 13.6 grams per tonne gold (Au) from 824.9m in hole BMDD011W08, including 0.6m @ 60.1g/t Au from 825.5m. A second hole, BMDD009W02, returned 2.6m @ 17.8g/t Au from 641.6m, including 0.7m @ 64g/t Au from 641.6m.
Both intersections contained visible gold and represent the northernmost drilling completed to date on the Lotus Zone, which remains open to the north.
Falcon operates three diamond rigs at Blue Moon: two conducting step-out drilling north along the Garden Gully trend and a third on the Paddy’s Gully line of reef, about 320m east.
The company has defined five mineralised zones across the Garden Gully line of reef over 850m of strike. The Lotus Zone extends 750m, the Jasmine Zone covers 200m, and the Morning Glory and Magnolia Zones span 300m and 180m respectively.
“Our approach of testing the Garden Gully line with wide-spaced step-out holes followed by targeted wedge drilling is defining continuous mineralised zones over strike lengths,” Managing Director Tim Markwell says
Blue Moon sits on the 100%-owned EL007839, a 174km2 exploration licence granted in mid-2023, and is 25km west of Agnico Eagle’s Fosterville Gold Mine.
Falcon holds $15.4 million cash at 30 June 2026 following a recent $30 million capital raising. Drilling is also set to commence at the Errabiddy Gold Project in Western Australia.
Falcon Metals is a gold explorer focused on the Bendigo region of Victoria, where it holds the Blue Moon Project and the Errabiddy Project in Western Australia.
Write to JC Villarba at Mining.com.au
Images: Falcon Metals
