Falcon Metals Limited (ASX: FAL; Falcon) is a high-profile mineral exploration specialist led by a highly decorated board and management team.

Falcon controls the largest exploration licence holding (>7,000km2) of any company in the Bendigo Zone of Victoria, a region which hosts the world-class Fosterville Gold Mine (>8Moz Au)1 and historic Bendigo Goldfield (>22Moz Au)2. Since its IPO in December 2021, Falcon has completed a significant amount of regional reconnaissance drilling and infill drilling, generating multiple gold targets including:

  • Pyramid Hill – 24.0g/t Au intercept at base of hole
  • Eddington – emerging prospect, multiple intercepts >1gt Au
  • Karri – 3km strike-length of mineralized footprint
  • Ironbark – 52.9g/t Au intercept in a mineralized diorite
  • Wandoo – 9.5g/t Au intercept in quartz vein at base of hole
  • Bamganie – 2m @ 20.0g/t Au adjacent to old workings

In May 2024, following an initial phase of aircore drilling in October 2023, which was followed up in March 2024, Falcon announced the discovery of a thick continuous high-grade mineral sands discovery at Pyramid Hill, which is now known as the Farrelly Mineral Sands Project. The Farrelly drill intercepts were some of the highest grades results compared to surrounding deposits in the region, at this scale. Preliminary mineralogical work on two drill holes indicates a favourable assemblage including Zircon, Ilmenite, and Rutile as well as potential rare-earth-element bearing Monazite and Xenotime (highly sought-after critical minerals).

Falcon’s portfolio is further enhanced by the early-stage but highly prospective Mt Jackson Project near Southern Cross in Western Australia where Falcon has defined gold and base metals anomalies in soils. Falcon also has two joint ventures in Western Australia – the Viking Gold Project near Norseman in joint venture with Metal Hawk (ASX: MHK) and the Hawkstone Nickel-Copper Project where Staveley Minerals (ASX:SVY) is earning up to 80% in two Falcon applications in the Kimberley region.

The Falcon team is led by a high-calibre and experienced team with a proven track record in making major discoveries and delivering exceptional returns to shareholders.

Dr Mark Bennett, Non-Executive Chair and Tim Markwell, Managing Director and CEO, collectively bring a significant amount of technical knowledge, strong commercial acumen and corporate leadership skills.

Figure 1. The Falcon Metals Portfolio

1.‘Resources and Reserves’ Agnico Eagle, www.agnicoeagle.com 

2.‘History of gold mining in Victoria’ Earth Resources Victoria, Website: earthresources.vic.gov.au