Falcon Metals Limited (ASX: FAL) has announced that it has received results for the 91-hole aircore (AC) drilling programme at its Farrelly Mineral Sands Prospect in Victoria, following up on the high-grade reconnaissance drilling results announced in March this year.
The new results confirm the Farrelly Prospect as a high-grade mineral sands discovery with a thick zone of mineralization (Main Zone) now defined covering an area of approximately 1,200m by 600m and remaining open in several directions. Additional high-grade zones have also been identified up to 5km to the north of the Main Zone, indicating a potential large-scale strandline style system.
Managing Director, Tim Markwell, commented, “The results at Farrelly are quite outstanding and define what appears to be a discovery of a continuous zone of high-grade heavy mineral sands over a sizable area, which remains open. While it is early days in our understanding of Farrelly, with more drilling and test work required, it is shaping up to become a significant mineral sands deposit, in proximity to other major deposits, but at far higher grades.
Significant dill intercepts include:
- PHAC2062 26m @ 8.9% THM from 6m; including
15m @ 12.9% THM from 13m
- PHAC2073 22m @ 9.2% THM from 8m, including
12m @ 15.1% THM from 16m; that also includes
3m @ 20.3% THM from 21m
- PHAC2064 20m @ 9.0% THM from 10m; including
9m @ 14.9% THM from 17m
- PHAC2063 22m @ 7.8% THM from 8m; including
10m @ 13.8% THM from 15m
Falcon Metals is now planning for the next drill campaign to define the extents of the high-grade Main Zone, as well as the other significant intercepts further to the north in the greater Farrelly Prospect area. This will require access to farms held by several landholders. In the coming months the company will focus on gaining consent to explore in these prospective areas so that drilling can recommence once harvesting has been completed in Q4 2024.
To find out more, please visit www.falconmetals.com.au
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