Falcon Metals has received all regulatory approvals to begin the first-ever drilling program at its Olsen Well prospect within the Errabiddy gold project in Western Australia, marking a major milestone for the under-explored gold target.

The company said the drilling tender process is at an advanced stage, with an estimated 3,500m reverse circulation (RC) drilling program planned to begin in September, subject to rig availability.

It follows the completion of a heritage survey that builds on surface exploration which confirmed bedrock gold mineralisation of up to 6.42 grams per tonne (g/t) gold within a 5.8km-long soil anomaly exceeding 10 parts per billion (ppb) gold.

Falcon has also expanded the project after being granted the wholly owned exploration licence E09/2984, extending the prospective strike along the Errabiddy Shear Zone to more than 60km. The company was also awarded up to $180,000 through the Western Australian government’s Exploration Incentive Scheme (EIS), providing support for the upcoming drill campaign.

“With maiden drilling now imminent at the Errabiddy Gold Project, we are looking forward to testing a compelling target with significant discovery potential,” Falcon Metals managing director Tim Markwell said.

“Success at the nearby Benz Mining Glenburgh Gold Project reinforces our confidence in the prospectivity of Olsen Well. Together with our ongoing drilling at Blue Moon in Victoria, where we continue to test the northern extension of the Bendigo Goldfield, Falcon is in the rare position of advancing two large-scale gold projects simultaneously.”

Recent rock chip sampling at Olsen Well identified a coherent 30m-wide zone of bedrock mineralisation, with four samples returning more than 1g/t gold, including a peak assay of 6.42g/t gold. The mineralisation is associated with highly deformed gneiss and is considered similar to other large craton-margin gold deposits, including the nearby Glenburgh gold project, approximately 35km to the northwest.

According to Falcon, geological mapping indicates the gold is hosted within a structurally complex zone characterised by folding, faulting and shearing, with the latest rock chip results strengthening its geological model and helping prioritise drill targets ahead of the maiden campaign.

The drilling campaign is expected to take around four weeks to complete and will represent the first drill testing ever undertaken at Olsen Well.

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