Falcon Metals (ASX:FAL) has started maiden RC drilling at Olsen Well, the large-scale gold target within its Errabiddy Project in Western Australia.
The program will test the central part of a 5.8km-long gold-in-soil anomaly and has been expanded from 3,500m to ~6,000m following Falcon’s recent capital raising.
The target has been built from surface, now it gets drilled.
The anomaly is already large
Falcon has defined a 5.8km gold-in-soil footprint, including a central 2.5km zone above 50ppb gold.
Surface work has also returned soil values above 1g/t gold and bedrock samples up to 6.42g/t gold.
Importantly, the anomalism has already been tied back to a coherent bedrock zone.
That gives Falcon a stronger foundation than a purely conceptual greenfields target.
Figure 1: Location and regional geology of the Errabiddy Gold Project.
The drill program just got bigger
The company now plans around 50 RC holes for ~6,000m.
That gives Falcon broader coverage across the core of the anomaly and more room to test the structural story properly.
The project is also supported by WA’s Exploration Incentive Scheme, with up to 50% of drilling costs rebated to a cap of $180,000.
The location adds some intrigue
Errabiddy sits ~35km southeast of Benz Mining’s Glenburgh Gold Project.
More importantly, Falcon sees the project sitting on a major craton-margin structure, a geological setting that can host large gold systems.
That does not mean Olsen Well is Glenburgh, but it does explain why Falcon has kept pushing the target.
What comes next
The first job is simple…
Drill the central anomaly.
Work out whether the bedrock gold continues at depth.
Then decide whether Olsen Well is just a large geochemical footprint or the start of something much more important.
Falcon has already done the surface work, now the drill bit gets the vote.
