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Falcon Metals Ltd ( (AU:FAL) ) has shared an announcement.
Falcon Metals has deployed a third diamond drill rig at its 100%-owned Blue Moon Gold Project in Victoria to test the northern extension of the New Chum line of reef and gather stratigraphic data across both the Garden Gully and New Chum structures. The new hole is designed to intersect key fold hinges and provide a platform for wedge holes targeting high-grade zones such as Lotus and Dahlia, complementing ongoing step-out drilling on the 5.2Moz Garden Gully line of reef.
The company has already completed eight parent diamond holes and multiple wedges, with results to date confirming the presence of Bendigo-style high-grade gold mineralisation on its tenure. With two rigs continuing step-out drilling and $19.3 million in cash at the end of March 2026, Falcon is well funded to sustain its high-impact exploration program, which could materially enhance its resource base and strategic position in the Victorian gold sector if successful.
More about Falcon Metals Ltd
Falcon Metals Ltd is an Australian gold exploration company focused on high-grade Bendigo-style mineralisation in Victoria. The company’s flagship Blue Moon Gold Project lies immediately north of the historic 22-million-ounce Bendigo Goldfield, where it is targeting extensions of major gold-bearing reef structures such as the Garden Gully and New Chum lines of reef.
Average Trading Volume: 360,801
Technical Sentiment Signal: Hold
Current Market Cap: A$103.7M
For a thorough assessment of FAL stock, go to TipRanks’ Stock Analysis page.