The Falcon Metals Ltd (ASX: FAL) share price has returned from its suspension with a bang.
In afternoon trade, the gold explorerâs shares are up a massive 38% to 25.5 cents.
Why is the Falcon Metals share price rocketing higher?
Investors have been scrambling to buy Falcon Metals shares on Friday following the release of drilling results from the Pyramid Hill Gold Project in Bendigo.
According to the release, the company has received final assay results for all the remaining diamond and aircore holes at the Karri and Ironbark prospects in the Pyramid Hill Gold Project.
Management advised that results from this drilling are highly encouraging and confirmed primary gold mineralisation within the diorites at both Ironbark North and East. The results at Karri have also further extended the zone of primary mineralisation intersected by diamond drilling.
Whatâs next?
The release explains that the next step for the Pyramid Hill Gold Project is a detailed assessment of these results and finalisation of the forward work plan.
Falcon Metalsâ drilling is expected to recommence in October, with the company at the advanced stages of securing a quality drilling contractor for an extensive regional program. This will screen its substantial prospective land holding for large scale and high-grade gold systems.
Falcon Metalsâ managing director, Tim Markwell, was very pleased with the news. He commented:
The high-grade aircore results returned at Ironbark East, the confirmation of primary mineralisation at Ironbark North, plus the further extension of the Karri system are all highly positive results for Falcon.
These results are indicative of the quality of our ground position and targets, and the potential of the Bendigo Zone to host high-grade gold mineralisation. Being in the fortunate position of having a strong cash balance, we look forward to completing an assessment of these encouraging results and planning for a major work program in the coming months.
The post Why is the Falcon Metals share price rocketing 38% higher? appeared first on The Motley Fool Australia.
Our #1 Strategy for todayâs inflation drenched markets
The ABC recently reported that inflation in the UK has hit an eye watering 40 year high.
Meanwhile the Reserve Bank believes that by the end of the year inflation in Australia will climb to levels not seen since 1990.
As prices surge weâve uncovered 3 âinflation fightingâ stocks we think could hand investors outsized returns as the market recalibrates.
And as Scott Phillips put it
âThereâs one thing to avoid at all costs when inflation hits.
And thatâs doing nothing.â
We reveal details on these three âinflation fightingâ stocks here.
Learn More
*Returns as of July 1 2022
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- Clipped wings: Why ASX 200 travel shares are having trouble getting off the ground today
- Ardent Leisure share price ‘materially undervalued’: expert
- Why is the Nickel Industries share price 5% worse for wear today?
- CSL shares âwell-positioned to deliver double-digit earnings growthâ: expert
- Why this broker is bullish on the Santos share price
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/HuBzi6N
Stock Pick 