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Falcon Metals (ASX: FAL) has reported encouraging gold results from its Pyramid Hill project in Victoria, maintaining exploration momentum across its portfolio while concentrating on the emerging Blue Moon and Errabiddy gold discoveries.
The latest results from the Corfu prospect, approximately 35km west of Bendigo, have confirmed broad zones of shallow gold mineralisation, with several drill holes ending in mineralisation.
Standout intersections included 22m at 1.00 grams per tonne (g/t) gold from 9m, including 3m at 2.84g/t, and 41m at 0.59g/t gold from surface, including 16m at 1.31g/t.
Other results included 14m at 1.23g/t gold from 22m, including 1m at 3.47g/t, and 30m at 0.58g/t from 29m, including 12m at 1.12g/t.
The results form part of a regional exploration campaign comprising 162 aircore holes for 20,253m across Pyramid Hill.
The program included Falcon’s first drilling at Corfu, follow-up work at Loddon Vale and reconnaissance drilling across the broader project area.
Several holes at Corfu ended in mineralisation due to drill refusal, prompting plans for follow-up diamond drilling to establish the geometry and extent of the mineralised structures.
Falcon managing director Tim Markwell said the company remained committed to exploring its broader Victorian portfolio while prioritising its two principal gold discoveries.
“While Falcon remains focused on advancing the Blue Moon Gold Project in Victoria and the Errabiddy Gold Project in Western Australia, we continue to actively explore our large portfolio in the Bendigo Zone,” Markwell said.
“The results at Corfu demonstrate the value of systematically reviewing historical mining and exploration data to identify overlooked opportunities.”
The Pyramid Hill results follow encouraging developments at Falcon’s Errabiddy project in Western Australia, where maiden drilling at the Olsen Well prospect recently intersected 12m at 2.8g/t gold from surface, including 4m at 4.7g/t.
That result confirmed bedrock gold mineralisation beneath a 5.8km-long gold-in-soil anomaly, providing an early indication of the prospect’s exploration potential.
Meanwhile, at Blue Moon in Victoria, Falcon has confirmed high-grade gold mineralisation over 750m of strike at the Lotus Zone.
Recent drilling returned 3m at 13.6g/t gold from 824.9m, including 0.6m at 60.1g/t, and 2.6m at 17.8g/t from 641.6m, including 0.7m at 64g/t.
Visible gold and/or high-grade mineralisation has been identified on every section drilled at Lotus, which remains open to the north.
Across the broader Garden Gully line of reef, high-grade mineralised structures have been confirmed over 850m of strike.
The latest Pyramid Hill results add another exploration opportunity to Falcon’s portfolio, although further drilling will be required to determine the continuity and significance of mineralisation at Corfu.
With follow-up diamond drilling planned at Pyramid Hill and exploration advancing at Blue Moon and Errabiddy, Falcon has several potential sources of news flow as it works to establish the scale of its gold discoveries.
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