Falcon Metals Limited (ASX: FAL) has received promising assay results from 236 Air Core holes for 25,480m drilled at the Wandoo, Banksia and Ironbark Prospects at the company’s Pyramid Hill Gold Project, northwest of Bendigo in Victoria, Australia.
A further 216 holes for 24,913m of Air Core drilling have also been completed up to 25 April 2023 for which assays are pending, taking the total Air Core drilling completed in this season to 59,147m Infill drilling is ongoing at Wandoo before both Air Core rigs return to the regional programme.
This extensive Air Core drill programme was following up on previous results from various levels of infill and regional first pass drilling across the Pyramid Hill Gold Project, with the objective of extending and upgrading areas of previous anomalous results for further infill drilling or the commencement of diamond drilling.
Highlights from the programme include confirmation of new mineralized trends at Wandoo, Banksia and a new Ironbark East diorite, and the extension of the Ironbark East >1g/t Au anomaly 100m to the southeast (now 500m in length).
Targeting work by Falcon indicated that Wandoo and Banksia were high priority sediment-hosted prospects for infill drilling, given the benchmarking of the 2021 first pass regional drilling against other prospects at the same stage in the Falcon portfolio. Infill drilling has significantly upgraded both prospects in terms of grade and widths of mineralization intersected at this early stage of exploration.
The results at Wandoo returned an intercept of 6.0m @1.90g/t Au from 102m including 2.0m @3.61g/t Au from 106m, with the hole finishing in mineralization. This mineralized trend is also open along strike to the south.
At Banksia, two large north-south mineralized trends were identified, with the northern trend over a 3.5km strike length and the southern trend over a 1.5km strike length, highlighting the significant scale potential of this prospect.
Additional infill drilling to verify the extent of the mineralization and to identify higher grade zones within these broad footprints is well advanced, with results expected in June 2023.
Diamond drilling of five holes for a total of 1,903.5m at Ironbark East has been completed, with assay results expected in May 2023. An additional diamond hole drilled to a depth of 229.4m was also completed at the new diorite discovered 200m west of Ironbark East, and assay results are expected in June 2023.
Both Air Core drill rigs remain active and have been progressing the regional exploration program to the north (near the towns of Kerang and Pyramid Hill) when not carrying out infill drilling. The company also expects to complete a regional programme near Rochester in May 2023.
“The definition of mineralized trends at several of the Pyramid Hill prospects is what we want to see, and we are pleased to have moved straight into further infill drilling, including diamond drilling at the priority areas,” Managing Director, Tim Markwell, said.
“We have seen a step-change improvement in results with the closer spaced drilling at Wandoo and Banksia, which is highly promising at this early stage of exploration. We look forward to completing this next phase of infill Air Core drilling as we vector in on the potential higher-grade zones.
“It is also important to have made progress on the regional programme, as defining new targets is critical to making major discoveries, especially in a region with as much prospectivity and mining history as the Bendigo Zone.”
For further information please visit: https://www.falconmetals.com.au/
