FAL 10.9% 30.5¢ falcon metals ltd

The ASX:FAL $7.75/share party, page-13

  1. 6,481 Posts.
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    Last time they drilled Karri, we saw the following operation dates:
    >planned before 12/12/2019
    >drilling underway by 29/01/2020
    >assays of first diamond core published 07/04/2020

    From the first ASX announcement explaining that the diamond drilling was commencing (29/01/2020 ASX:CHN) to the ASX announcement of the first Karri diamond core assay (07/04/2020 ASX:CHN) it was 69days.

    If this current diamond core drilling takes just as long as the previous campaign (69days), then the assay results should be ready to publish to the ASX on the 27/03/2022 (or 28/03/2022 a day the market is open).

    Diamond core samples can be used in real time to direct the course of the drilling campaign (drill more or less, etc), it is important to get results asap, as getting results in "real time" (whilst drilling continues) can save operation costs.

    It is expected the diamond core assays would be released on or before early April, I am basing it on previous diamond drilling at the same site, possibly with the same assay lab. I would go even further to say that is what Falcon itself is probably basing their time lines on when they say "First assays from the diamond drilling program are expected by the end of Q1 2022."-ASX:FAL, 31 Jan 2022, Quarterly Activities Appendix 5B Cash Flow Report "Falcon Metals December Quarter Activities Report".
    The previous diamond core drilling was conducted as follows:
    1) "...an initial phase of diamond drilling is planned in January 2020." -ASX:CHN, 12/12/2019 "Discovery of new >2km gold trend in air-core drilling at Karri Target indicates potential for a significant gold system".
    2) "...We eagerly await the commencement of our first diamond drill program in January..." -ASX:CHN, 12/12/2019 "Discovery of new >2km gold trend in air-core drilling at Karri Target indicates potential for a significant gold system".
    3) "An initial diamond drill hole will be completed at Karri in late January 2020.." -ASX:CHN, 12/12/2019 "Discovery of new >2km gold trend in air-core drilling at Karri Target indicates potential for a significant gold system".
    4) "A diamond drill rig will arrive on site in mid-January to complete an initial ~300m deep drill hole at each of the Karri, Ironbark North and Ironbark Targets." -ASX:CHN, 12/12/2019 "Discovery of new >2km gold trend in air-core drilling at Karri Target indicates potential for significant gold system".
    5) "Maiden diamond drilling program currently underway for geological and structural purposes." -ASX:CHN, 29/01/2020 "Two rigs now drilling at the Pyramid Hill Gold Project in Victoria after three large targets were significantly upgraded in the Quarter".
    6) "The first ever diamond hole at Karri has encountered tight folding of Castlemaine group sediments,..." -ASX:CHN, 4/03/2020 "New high-grade gold zones at the large-scale Karri Target".
    7) "In addition, assays are currently pending for 42 AC drill holes and the first two completed diamond drill holes at the Karri and Ironbark North Targets." -ASX:CHN, 4/03/2020 "New high-grade gold zones at the large-scale Karri Target".
    8)"All assays from PHDH001 are currently pending." -ASX:CHN, 4/03/2020 "New high-grade gold zones at the large-scale Karri Target".
    9)"First diamond drill hole at Karri hits primary gold zone" -ASX:CHN, 7/04/2020 "First diamond drill hole at Karri hits primary gold zone".
 
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