West Coast Silver Partner Falcon Hits 12m at 2.8g/t Gold in First Hole
Key Takeaways
- Falcon Metals' first-ever hole at Olsen Well returned 12m @ 2.8g/t gold from surface, including 4m @ 4.7g/t, confirming a bedrock source for a 5.8km soil anomaly.
- The drilling program has been expanded to 7,000 metres, with 35 holes completed for 4,556m and assays pending for 30 more.
- Four step-out holes 200-400m west returned no significant intercepts, so continuity and orientation of the mineralisation remain unproven.
- The headline grade rests on 4-metre composites, and 1-metre splits are still to be assayed, so figures could change.
- Errabiddy sits on a craton-margin shear zone, with the Big Sky Prospect less than 3km away and Benz Mining's Glenburgh project about 35km away.
First hole at Errabiddy hits 12m @ 2.8g/t gold from surface
Drilling at a greenfield target has returned a bedrock gold intercept in its very first hole. Falcon Metals (ASX: FAL) received assays on 19 October 2026 for the first five reverse circulation (RC) holes at Olsen Well, part of the Errabiddy Gold Project in Western Australia.
Hole OWRC0001 returned 12m @ 2.8g/t gold from surface, including 4m @ 4.7g/t gold from surface. Intercepts are downhole lengths, and true widths are not known.
For investors, the result matters because it links a surface signal to rock beneath it. According to the company, it confirms a bedrock source for a soil gold anomaly that extends over 5.8km of strike at greater than 10ppb gold in soils.
This is the first-ever drill testing of Olsen Well, and the program has been expanded to 7,000 metres. Here are the headline points:
- Result: OWRC0001 returned 12m @ 2.8g/t gold from surface, including 4m @ 4.7g/t gold.
- Progress: 35 holes completed for 4,556m.
- Pipeline: assays are pending for a further 30 completed holes.
Management view
Managing Director Tim Markwell framed the result as confirmation of the target’s prospectivity, and said the focus now shifts to the shape and scale of the mineralisation.
Tim Markwell, Managing Director
“The result confirms that the strong surface geochemical anomaly reflects bedrock gold mineralisation and provides confidence in the prospectivity of the target. We have immediately expanded the program to 7,000 metres to test the extent of this mineralisation…”
He added that the team is “…now focused on understanding the geometry of the mineralisation and evaluating its broader scale potential.”
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Drilling results and what they show
The maiden EIS co-funded drilling program at Olsen Well is progressing. The first five holes were prioritised for assay to assess bedrock mineralisation while the drill rig remained on site.
OWRC0001 intercept detail
OWRC0001 was collared at the peak of the soil anomaly. That spot is coincident with a 30-metre-wide zone of anomalous bedrock, where four rock chip samples returned >1g/t gold, including a peak of 6.4g/t.
The hole intersected joint-oxidised biotite-quartz-feldspar gneiss with minor quartz veining. Low-level gold anomalism continues below the mineralised interval, averaging 44ppb gold from 12 to 68 metres, which the company says provides a broader geochemical footprint to be assessed as drilling progresses.
The individual assays behind the headline intercept are below.
| Interval | From-To (m) | Au (g/t) | Note |
|---|---|---|---|
| 0-4m | 0-4 | 4.7 | 4m composite sample |
| 4-8m | 4-8 | 1.0 | 4m composite sample |
| 8-12m | 8-12 | 2.8 | 4m composite sample |
| 0-12m | 0-12 | 2.8 | Reported significant intersection, downhole length |
The initial samples were taken as 4-metre composites, meaning four one-metre samples blended into one. The 1-metre splits from this interval are to be submitted for assaying, so the grades could change when finer detail arrives.
Four step-out holes
The other four holes, OWRC0002 to OWRC0005, tested the western and southern margins of the >50ppb gold-in-soil anomaly, 200-400m west of OWRC0001. They returned no significant intercepts, though low-level anomalism was identified, including 33ppb gold from 80-108 metres in OWRC0003.
That is not a miss in the full sense. The soil anomaly between these holes and OWRC0001 remains to be tested, and the company says nothing is yet known about possible orientations and structural controls on the gold mineralisation.
The company points to Glenburgh as the closest analogy. There, drilling confirmed soil anomalies with broad low-level zones, while smaller high-grade zones that soil sampling had not identified were detected by RC drilling.
Craton-margin gold explained
A craton is an ancient, stable block of the Earth’s continental rock. A craton margin is the edge where that block meets a different geological terrane, and the company describes these margins as highly prospective locations for major gold deposits.
The announcement cites Tropicana on the eastern margin of the Yilgarn Craton and the 2.6Moz Karlawinda Gold Project on the southern margin of the Pilbara Craton. Errabiddy is centred on the Errabiddy Shear Zone, a major crustal-scale structure marking the boundary between the Yilgarn Craton and the Glenburgh Terrane of the Capricorn Orogen.
The exploration sequence is worth understanding. Soil sampling flags a surface anomaly, RC drilling tests what lies beneath, and 1-metre splits then refine the grades. A strong first-hole result tells you the surface signal has a bedrock source, though it does not yet show size or continuity.
Regional context from the announcement:
- The Big Sky Prospect, discovered by Lodestar Minerals in 2015, lies less than 3km from Falcon’s tenure.
- Benz Mining’s (ASX: BNZ) Glenburgh Gold Project is approximately 35km from Olsen Well and is also interpreted to be associated with a craton-margin setting.
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Next steps and investment angle
The company has outlined the following sequence:
- Complete the original planned drilling of the Olsen Well prospect.
- Drill around OWRC0001 to improve understanding of the orientation and scale of the zone, targeting extensions along strike and at depth.
- Submit 1-metre splits from any significant intercepts returned.
- Receive assays for the 30 pending completed holes.
The announcement itself notes that further drilling will be based on results from the current program, and it is uncertain what that will involve until all results are returned.
What does that mean for you? Early validation of a large greenfield target, a pipeline of 30 pending assays and a maiden EIS co-funded program give the stock a defined run of potential news. Still, this is early-stage exploration. No resource has been defined, the company says the current spacing is not sufficient to assume geological or grade continuity, and a single hole does not establish an economic deposit.
On tenure, Falcon can earn a 70% interest in Exploration Licence E09/2457 (excluding graphite rights) from West Coast Silver Limited (ASX: WCE). The adjoining E09/2984 is 100%-owned.
Ready to Learn More About the Olsen Well Discovery at Errabiddy?
Falcon Metals’ first hole at Olsen Well returned 12m @ 2.8g/t gold from surface, confirming a bedrock source for a 5.8km soil anomaly. With 30 further holes awaiting assays and the program expanded to 7,000 metres, the Errabiddy Gold Project could have a steady run of news ahead.
Explore the Falcon Metals Errabiddy Gold Project details and latest drilling results to see how this craton-margin opportunity is developing. Review the full assay data and next steps before deciding whether it deserves a place on your watchlist.