Falcon Metals’ Exploration Surge Hinges on Pending Assays and Heritage Survey Outcomes

Blue Moon Project Breakthrough

Falcon Metals Limited has delivered a compelling update from its Blue Moon Gold Project in Victoria, revealing a significant high-grade gold intercept that could reshape the scale of this emerging deposit. The standout result came from wedge hole BMDD001W6, which returned 6.5 metres grading 33 grams per tonne gold, including spectacular visible gold within narrower intervals hitting up to 325g/t. This intercept is the widest high-grade zone reported to date and lies approximately 55 metres east of the Garden Gully anticline hinge, a key structural feature in the Bendigo goldfield.

The presence of visible gold and the geological setting suggest potential for further extensions along strike, prompting Falcon to initiate a seventh wedge hole between the parent hole and BMDD001W6. This drilling expansion is supported by recent approval for seven additional drill pads covering over 2 kilometres of strike, with a second drill rig already mobilised in October to accelerate exploration.

Strategic Capital Raising Fuels Growth

Backing these promising results, Falcon successfully completed a $20 million share placement at $0.57 per share, attracting new and existing high-quality global institutional investors. This capital injection boosts the company’s cash reserves to $24.6 million, providing a robust financial platform to fast-track exploration activities at Blue Moon and other projects. The placement was executed at a modest discount to recent trading prices, reflecting strong market confidence in Falcon’s exploration strategy and the high-grade potential of its assets.

Broader Exploration Pipeline

Beyond Blue Moon, Falcon is advancing exploration at its Pyramid Hill Gold Project in Victoria, with plans for aircore and diamond drilling scheduled to commence early in 2026. Meanwhile, at the Errabiddy Gold Project in Western Australia, an infill soil sampling program has refined drill targets, with the timing of reverse circulation drilling contingent on heritage survey completion. These initiatives underscore Falcon’s commitment to building a diversified portfolio of gold exploration opportunities across key Australian gold provinces.

Corporate and Portfolio Moves

In a strategic portfolio adjustment, Falcon divested its 51% interest in the Viking Joint Venture to Mount Burgess Mining, receiving shares and options in return. This move allows Falcon to focus resources on its core projects with higher near-term potential. Operationally, the company reported $2 million in exploration and evaluation expenditure for the quarter, aligned with its accelerated drilling programs, while maintaining disciplined corporate and staff costs.

Looking ahead, Falcon’s Annual General Meeting is scheduled for 29 October 2025, where shareholders will likely seek further clarity on the company’s exploration progress and capital deployment plans.