Falcon Metals (ASX: $FAL) announces high-grade mineral sands discovery

Falcon Metals Limited (ASX: $FAL) has received results for a reconnaissance drilling program at its Pyramid Hill Project in Victoria, revealing high-grade mineral sands at the Farrelly Prospect. The program focused on assessing two permits for mineral sands and associated Rare Earth Elements (REE), initially explored for gold. The review of historical work identified specific targets for testing, resulting in the discovery of high-grade zones of mineral sands in the Murray Basin.

Executive Commentary on Mineral Sands Discovery

The intersection of high-grade zones of mineral sands in the Murray Basin is a positive development for Falcon. Our focus remains on gold exploration, but we recognize the potential of the mineral sands province. We plan to further assess the mineral sands potential and look for ways to create additional value for shareholders.

Summary of High-Grade Mineral Sands Discovery

Falcon Metals Limited (ASX: $FAL) has intersected high-grade mineral sands at the Farrelly Prospect in the Murray Basin. The reconnaissance drilling program revealed encouraging levels of valuable heavy minerals, including zircon, rutile, and ilmenite, with the presence of monazite containing Rare Earth Elements (REE). The company plans a second phase of work involving follow-up drilling, metallurgical test work, and detailed mineralogical assessment. Additionally, anomalous mineral sands were discovered at the Marmal Prospect, and further test work will be undertaken to determine the prospect's potential. Falcon's next steps include recommencing drilling at the Farrelly Prospect and reviewing results from other zones of anomalous mineralisation.