Falcon Metals (ASX:FAL) said assays from a recently completed air core drilling program at the Pyramid Hill gold project indicated a new regional-scale gold target, as it confirmed multiple parallel gold-bearing structures, according to a Thursday Australian bourse filing.
The most anomalous intercept at Loddon Vale target was 17 meters at 0.21 grams per tonne grade of gold from 147 meters. Meanwhile, follow-up drilling at the Ironbark prospect returned a best intercept of 6 meters at 2.4 g/t grade of gold from 88 meters.
It plans to conduct follow-up aircore drilling to focus on the large regional-scale structures at the Loddon Vale target, as well as on prospective new areas. It also plans to target high-grade mineralization areas with targeted diamond drilling programs.
Its shares rose 6% on market close on Thursday.
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