Falcon Metals Limited announced that it has completed its first reverse circulation (RC) drilling program comprising 10 holes for 1,691m at the Company's Viking Gold Project in the Albany-Fraser province of Western Australia. The Project is located 30km southeast of Norseman in the Northern Foreland of the Albany Fraser Province, where historical drilling programs intersected numerous high-grade shallow intercepts in the oxide zone, with limited follow-up drilling. Significant historical results1 that were yet to be effectively followed up included: 5m @ 44.5g/t Au from 50m; 4m @ 15.4g/t Au from 40m; 3m @ 8.2g/t Au from 40m; 3m @ 15.3g/t Au from 28m.

The recently completed drilling by Falcon targeted the down-dip and potential down-plunge extensions to these mineralised structures, in fresh bedrock. Geological logging of this drilling has identified several shear zones with sulphides and quartz veining up to 6m wide. RC samples from these prospective zones were panned, with visible gold being observed in 10 of the 25 zones identified, from 5 of the RC holes drilled.

Although not always indicative of high-grade, the presence of visible gold is seen as highly encouraging and confirms a primary source to the historical results. Assay results are expected in 4-6 weeks. Falcon has completed 10 RC drill holes for 1,691m at the Viking Gold Project in Norseman, at the Beaker 1 and 2 Prospects, with 5 RC holes drilled at each prospect.

Drilling was targeting the down-dip and potential down-plunge extensions to historical drill intercepts. Relogging of selected diamond drill holes from previous drilling at Beaker 1 and Beaker 2 confirmed that mineralisation was associated with shallow south-easterly dipping shear zones within relatively undeformed granodiorites and diorites. These shear zones generally consist of muscovite-chlorite- biotite schists with varying amounts of quartz veining and sulphides.

During the geological logging of the current RC program, these shear zones were readily identified, and panning was undertaken to assess the presence of visible gold. Initially panning was done on 3m composites and where appropriate on an individual metre basis. Visible gold was detected in the panned concentrates in 5 of the 10 holes drilled, and in 10 of the 25 shear zones that were identified.

The drilling was focussed on testing for a primary source for the shallow high-grade zones that had previously been intersected at these prospects. The logging and subsequent panning has confirmed gold mineralisation in fresh rock at both the Beaker 1 and Beaker 2 Prospects and suggests that within the overall east-dipping shear zones, a south-southeast plunge component may be an important control for the higher-grade shoots. Once all assays are returned, a thorough review will be completed to determine the next steps for this project.

Falcon would like to acknowledge the Ngadju people, the traditional custodians of the land where the Viking Project is located.