Falcon Metals (ASX:FAL) said assays from wedge drill holes at the Blue Moon gold project in Victoria defined a significant zone of mineralized quartz veining, according to a Tuesday Australian bourse filing.
The large mineralized structures were the primary target during the initial phase of drilling, intersecting the widest zone identified to date. It encountered intercepts of 3.4 meters at 16.9 grams per tonne grade of gold from 855.6 meters, as well as 1.2 meters at 8 g/t grade of gold from 820.8 meters.
Drilling is ongoing at the site with both diamond drill rigs targeting strike extension of the mineralized zones intersected to date.