WESTERN AUSTRALIA, EARNING UP TO 70% OF E09/2457 PLUS 100% TENUREThe 621km2 license covers a 64km strike extent of the Errabiddy shear zone, located along the northern margin of the Yilgarn Craton, 220km northwest of Meekatharra.
Location of the Errabiddy Gold Project
The Errabiddy shear zone is a compelling Cratonic margin gold target. This shear zone demarcates the boundary between the Yilgarn Craton and the Glenburgh Terrane of the Capricorn Orogen. Craton margins are prospective for the formation of large gold deposits, including the Tropicana deposit that was discovered on the eastern margin of the Yilgarn Craton in 2005 through the follow up of a regional public domain gold-in-soil anomaly. Tropicana was the first world-class gold deposit discovered in high-grade metamorphic gneissic rocks in an Archaean terrane, not previously considered prospective for gold. The 2.6Moz Karlawinda Gold Project is another recently discovered gold deposit in a similar setting on the southern margin of the Pilbara Craton.
The Errabiddy shear zone contains known gold mineralisation, including the Big Sky Prospect, discovered less than 3km from the eastern boundary of E09/2984 by Lodestar Minerals in 2015 . The Glenburgh deposit, sold by Spartan Resources to Benz Mining in November 2024, is also considered to be a cratonic margin deposit. This is located 35km to the northeast of Olsen Well, with a current Resource of 16.3Mt @ 1.0g/t for 510,000 ounces of gold.
The Errabiddy Gold Project is highly prospective and remains underexplored with no exploration drilling for gold having occurred within the project tenure.
Errabiddy Gold Project tenements
Errawarra Resources (now West Coast Silver) identified the Olsen Well target from a review of public domain Bulk Leach Extractable Gold (BLEG) stream sediment data that highlighted this area from the sampling conducted by Peregrine Gold Mining NL in 1994. Additionally, regional geochemical sampling by the Geological Survey of Western Australia, with a 4km spaced geochemical grid, detected a 6 ppb Au anomaly near Olsen Well.
In 2021, Errawarra completed a high resolution aeromagnetic survey over E09/2457, consisting of 100m spaced flight lines over the entire tenement. An ultrafine soil sampling program over the Olsen Well target, undertaken in 2023, defined a 3km by 1km 10ppb gold anomaly with coincident arsenic and bismuth, with a peak gold value of 234ppb Au. This anomaly remains open along strike, with areas in similar structural and geological positions yet to be soil sampled.
The agreement with Errawarra provides Falcon with the opportunity to test the compelling gold target already defined at Olsen Well and potentially generate new targets along strike on this prospective structure. The proposed initial work program will focus on confirmatory soil sampling at Olsen Well.
Soil anomaly at the Olsen Well Target on detailed magnetic image