Falcon Metals (ASX:FAL) has drilled down the fold hinge with the third wedge hole BMDD001W3 at the Blue Moon prospect, located directly north of the 22 million ounce Bendigo Goldfield in Victoria.
The company, which is exhibiting at this week’s Diggers & Dealers Mining Forum in Kalgoorlie, Western Australia, says multiple zones containing visible gold, quartz veining, and sulphides have been intersected.
Additionally, 7.6m zone of quartz veining has also been intersected, which Falcon says most likely represents a saddle reef.
Once the current hole BMDD001W3 has tested the area close to the Garden Gully hinge position to 1,000m, Falcon will then test the eastern limb, east of the parent hole for parasitic folds and west dipping break faults.
Planning has started to mobilise a second diamond drill rig to test along strike on the Garden Gully line.
With the understanding generated on the Garden Gully line, review work will also include the prolific New Chum line that, along with all the other lines of reef, are interpreted to extend into EL007839 from the Bendigo Goldfield, providing multiple lines to target for future drilling.
Falcon is awaiting all assays from this wedge hole, which is still in progress. It has also received all assay results from the parent hole BMDD001 and the first wedge hole, BMDD001W1.
Both holes tested the eastern limb of the Garden Gully anticline close to the fold hinge, but not the hinge zone itself, where thicker saddle reef-style mineralisation would be expected to be more developed.
Managing Director Tim Markwell says the visible gold, quartz veining and the presence of sulphides in several zones in the fold hinge in the third wedge are highly encouraging.
“We have only just started our work at Blue Moon and have multiple opportunities to test, including further wedge holes to the east of the parent hole, new holes along strike on the Garden Gully line, as well as the other lines of reef we are yet to fully assess,” Markwell says.
“In this regard, we are planning to mobilise a second rig in the coming months. The new results from Blue Moon have upgraded the shallow high-grade zone in BMDD001, making this initial proof of concept hole even more remarkable.
“This zone has only been tested by the parent hole and provides a compelling target for further drilling from surface.”
Mining.com.au is again attending this year’s Diggers & Dealers with Executive Producer Shae Russell on the ground.
Write to Adam Orlando at Mining.com.au
Images: Falcon
