Falcon Metals Limited Announces Multiple High-Grade Gold Intercepts At Ironbark East
Ironbark East in January. All results have now been received and confirmed the presence of high-grade gold mineralisation over 400m along a NNW-SSE trend within weathered diorite. Highlights of this program include: PHAC1079: 12m @ 6.18 g/t Au from 74m; Including 4m @ 17.7 g/t Au from 77m, that also includes 1m @ 52.9 g/t Au from 77m; PHAC1080: 7m @ 2.93 g/t Au from 60m Including 2m @ 9.39 g/t Au from 61m, that also includes 1m @ 14.2 g/t Au from 61m; PHAC1106: 3m @ 5.34 g/t Au from 69m; Including 2m @ 7.90 g/t Au from 69m. PHAC1079 and PHAC1080 are associated with quartz veining with a trace of pyrite and arsenopyrite. These holes occur on the same E-W traverse and are 50m apart. It is unclear at this stage whether the
mineralised zones in each hole represent a shallow westerly dipping structure or if they are two separate structures. Mineralisation is open to the south and is presently being followed up with additional 50m E-W by 100m N-S spaced aircore drilling. At PHAC1106 the mineralisation is associated with quartz veins and significantly more sulphide with arsenopyrite stringer veins. Six holes within the interpreted diorite, near PHAC1106, failed to reach the basement due to blade refusal at a silcrete unit at the base of the Murray Basin. These are located along the mineralised trend and areas below this will be tested by diamond drilling. It is also noted that the highest grades generally occur at the top of intervals with the possibility that some grade smearing might have occurred. Anomalous gold (>0.1g/t Au) has been intersected along the interpreted mineralised trend in the
surrounding Castlemaine Group sediments, and in the contact zone around the margins of the diorite. Additional aircore drilling is presently underway to test the strike extent of the interpreted mineralised trend. There is also the potential for this structure to link up with Ironbark Central where Falcon announced the discovery of a new mineralised zone in diorite, with infill drilling at this prospect completed earlier in the month. Once the aircore drill rigs are finished at Ironbark East, they will move down to commence infill drilling at the high priority Wandoo Prospect. Diamond drilling is expected to commence at Ironbark East in February 2023, to follow up these highly encouraging aircore results. Falcon would like to acknowledge Bostech Drilling Australia for the efficient aircore drilling that is being undertaken on the project and On Site Laboratory Services for the rapid turnaround of assay results.