Falcon Metals Limited has intersected high-grade gold across a 750-metre strike length at the Lotus Zone within its 100%-owned Blue Moon Gold Project in Victoria.

New assay results from diamond drilling include hole BMDD011W08, which returned 3 metres at 13.6 g/t gold from 824.9 metres, including 0.6 metres at 60.1 g/t gold. Meanwhile, wedge hole BMDD009W02 intersected 2.6 metres at 17.8 g/t gold from 641.6 metres, including 0.7 metres at 64.0 g/t gold. Both intercepts contained visible gold hosted within composite shear veins.

The Blue Moon Project sits directly north of the historical Bendigo Goldfield, targeting the northern down-plunge extension of the Garden Gully anticline. Drilling across the prospect has confirmed high-grade structures over an 850-metre total strike length across multiple stacked zones, including the Morning Glory, Magnolia, Jasmine, Lotus, and Dahlia zones. The Lotus Zone remains open to the north.

Operations at Blue Moon run 24 hours a day, seven days a week, utilizing three diamond rigs. Two rigs are carrying out step-out drilling north along the Garden Gully trend, while a third rig has started testing the Paddy's Gully line of reef located approximately 320 metres to the east.

“With three diamond rigs operating around the clock and additional drill approvals being advanced on parallel anticlines, Falcon is rapidly advancing its understanding of the scale and continuity of the emerging Blue Moon discovery.”

— Tim Markwell, Managing Director

Falcon held $15.4 million in cash as of June 30, 2026, and is additionally supported by a recent $30 million capital raising. These funds are backing exploration at Blue Moon as well as upcoming drilling at the Errabiddy Gold Project.

The company is advancing regulatory approvals, including completed flora surveys and cultural heritage assessments, to test parallel lines of reef at Blue Moon. Subject to receiving these permits, Falcon plans to test additional multi-kilometre parallel structures in the coming months, including the New Chum, Carshalton, and Hustlers lines of reef.

Read the full announcement: High-Grade Gold Confirmed Over 750m at Lotus Zone