Blue Moon Drill Hits 1.2m at 543 g/t Gold in Bendigo Zone Extension

A New Chapter in Bendigo Gold Exploration

Falcon Metals Ltd has delivered a compelling update from its Blue Moon gold project, situated in the prolific Bendigo Zone of Victoria. The company’s recent drilling results have confirmed the presence of exceptionally high-grade gold mineralisation, including a standout intercept of 1.2 metres grading 543 grams per tonne (g/t) gold, featuring visible gold – a hallmark of premium reef-style deposits.

The Bendigo Goldfield is renowned globally, historically producing over 22 million ounces of gold at an average grade of approximately 15 g/t. Falcon’s Blue Moon project targets the northern down plunge extension of this world-class gold system, specifically along the Garden Gully Line, which itself has yielded around 5.2 million ounces at similar grades. The discovery of such high-grade intercepts on Falcon’s tenure signals a significant opportunity to unlock further value in a region that has seen limited modern exploration in these northern reaches.

Visible Gold and Multiple Reef Targets

Visible gold was identified in multiple stacked veins during Falcon’s drilling campaign, reinforcing the geological model that the mineralisation continues with strong plunge components typical of the Bendigo style. In addition to the headline 1.2m at 543 g/t Au, other notable intercepts include 0.3m at 185 g/t Au and 1.1m at 6 g/t Au, all from wedge holes designed to test lateral fold hinge targets and deeper reef zones.

These results highlight the presence of multiple lines of reef extending over a strike length of at least 6 kilometres on Falcon’s ground, with the mineralisation remaining open along strike and at depth. The company has mobilised a second drilling rig to accelerate exploration, aiming to systematically test these targets with 200-metre step-outs, underscoring the scale and potential of the Blue Moon project.

Strong Financial Position and Experienced Leadership

Backing this exploration momentum is Falcon’s robust financial footing, with a cash balance of A$27.8 million as of mid-August 2025 and no debt. This liquidity supports an aggressive drilling program designed to rapidly advance the project towards resource definition.

Falcon’s management team brings decades of combined experience in gold and base metal exploration, including leadership roles in companies responsible for major discoveries such as Nova-Bollinger and Gonneville. This expertise provides confidence in the company’s ability to navigate the technical and commercial challenges ahead.

Respecting Heritage and Looking Ahead

The Blue Moon project lies on the traditional lands of the Dja Dja Wurrung people, and Falcon acknowledges their enduring connection to the land. The company has expressed respect for their culture and elders, reflecting a commitment to responsible exploration practices.

Looking forward, Falcon Metals is poised to deliver further drilling results that will clarify the scale and grade continuity of the Blue Moon mineralisation. The combination of high-grade intercepts, multiple reef targets, and a strategic location within a world-class gold province positions Falcon as a compelling story in the Australian gold exploration sector.