Falcon Metals Limited has started its maiden reverse-circulation drilling program at the Olsen Well gold target within the Errabiddy Gold Project in Western Australia. The company plans approximately 50 RC holes for about 6,000 metres, an increase from the previously announced 3,500-metre campaign following its recent capital raising.
Drilling will focus on the central 2.5-kilometre zone of greater than 50 parts per billion gold-in-soil anomalism within the broader 5.8-kilometre Olsen Well target. The wider target is defined by greater than 10 parts per billion gold in soils and includes soil values above 1 gram per tonne gold. The program is supported by the WA Government Exploration Incentive Scheme, with a rebate of 50 per cent of drilling costs up to $180,000.
Falcon's earlier surface geochemical work refined the target to 5.8 kilometres at greater than 10 parts per billion gold in soils and confirmed anomalous gold in bedrock. Two closely spaced traverses across the south-western part of the target outlined an approximately 30-metre-wide zone of bedrock anomalism. Four rock-chip samples returned more than 1 gram per tonne gold, including a peak result of 6.42 grams per tonne.
The Errabiddy project comprises Exploration Licence E09/2457, where Falcon can earn a 70 per cent interest excluding graphite rights from West Coast Silver Limited, and the adjoining 100%-owned Exploration Licence E09/2984. Olsen Well is approximately 35 kilometres southeast of Benz Mining's Glenburgh Gold Project. Falcon described the current program as the first drill test of the large gold target defined through its systematic surface exploration.
Falcon said drilling is also continuing at its Blue Moon project in Victoria and that results from its exploration programs will be reported as they become available. The Errabiddy announcement did not advertise any new jobs or vacancies.
Source: Falcon Metals Limited, Maiden Drilling Underway at Errabiddy Gold Project, 15 September 2026.