General News
25 March, 2024
High-grade zones focus of Falcon’s future drilling
FALCON Metal’s Pyramid Hill project has generated multiple prospective gold targets since drilling started three years ago. The company has said in its annual report released last week that it was focussed on undertaking regional reconnaissance...
FALCON Metal’s Pyramid Hill project has generated multiple prospective gold targets since drilling started three years ago.
The company has said in its annual report released last week that it was focussed on undertaking regional reconnaissance drilling to identify the additional targets, so they can be prioritised before infill drilling to vector in on higher-grade zones.
“In September 2023, Falcon announced the final assay results for all aircore holes completed during the 2023 drilling program at the Pyramid Hill project,” the report said.
“Several targets generated from Falcon’s ongoing regional reconnaissance program were prioritised for infill drilling during the period, including six holes on EL006669 (near Kerang), 10 holes on EL006960 (near Eddington) and eight holes on EL006737 at the Wandoo Prospect.
“The regional reconnaissance program is continuing with programs near Cohuna, Pyramid Hill and Maryborough.”
Falcon Metals reported a loss from continuing operations to December 2023 of $2,035,409 compared with $2,679,062 the previous year. Its assets are more than $15 million.
The 100 per cent owned Pyramid Hill Gold Project was first staked in late 2017 and now covers an more than 7000 square kilometres of central Victoria.
Falcon Metals earlier this month announced results of mineral sand drilling in the area.