Falcon Metals Limited has commenced a maiden reverse circulation drilling program at the Olsen Well gold target within the Errabiddy Gold Project in Western Australia, targeting the central portion of a large-scale gold-in-soil anomaly.

Falcon plans to drill approximately 50 reverse circulation holes for a total of roughly 6,000 metres at Olsen Well. Following the completion of a recent capital raising, the drilling campaign was expanded from the previously announced 3,500 metres to provide broader coverage across the defined target area.

The program focuses on the central 2.5-kilometre-long zone of greater than 50 parts per billion gold-in-soil anomalism within the broader 5.8-kilometre-long Olsen Well target, which is defined by soil values exceeding 10 parts per billion. The project area is supported by the Western Australia Government Exploration Incentive Scheme, which provides a rebate covering 50% of drilling costs up to $180,000.

Since securing an option over the Errabiddy project, Falcon has completed multiple phases of surface geochemical sampling. These programs identified bedrock gold anomalism, with rock chip samples returning up to 6.42 grams per tonne gold.

The Olsen Well target was initially identified as a 3-kilometre-long soil anomaly when Falcon acquired its interest in November 2024. Subsequent sampling phases progressively expanded the defined gold-in-soil strike length to 5.8 kilometres.

"Commencement of drilling at Olsen Well is an important milestone, with this program providing the first drill test of the large gold target defined through Falcon's systematic surface exploration.

Increasing the program to approximately 6,000m will enable broader testing of the central portion of the 5.8km-long anomaly."

— Tim Markwell, Managing Director

The current reverse circulation program represents the first-ever drilling conducted across the Errabiddy tenure, with Falcon aiming to complete the expanded 6,000-metre schedule to test the structural targets defined by surface sampling.

Read the full announcement: Maiden Drilling Underway at Errabiddy Gold Project