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Falcon Minerals Limited (FCN)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Falcon Minerals Limited
Falcon is a mineral exploration company listed on the Australian Stock Exchange (ASX code FCN). It is a Company in transition having announced in December 2015 that it has entered into a binding Term Sheet to acquire 51% ownership of Robo 3D, Inc (ROBO 3D) via the acquisition of all of the issued shares in Albion 3D Investments Pty Ltd (Albion 3D).
ROBO 3D is a USA-based company founded in 2012 that develops, designs, manufactures and sells 3D printers and associated products to the desktop/consumer segment of the 3D printing industry.
The Transaction will constitute a significant change in the nature and scale of Falcon’s activities, and the Company will be required to re-comply with the listing requirements set out in Chapters 1 and 2 of the ASX Listing Rules (including preparing a full form prospectus).
The Board intend to divest the Company's existing exploration assets.
The Collurabbie Project is 200 km north of Laverton in the Duketon Greenstone Belt of Western Australia.
In 2004 former joint venture partner Western Mining Corporation (WMC) intersected high-grade massive nickel-copper-sulphide mineralization at the Olympia Prospect including 5.77m at 3.0% Ni, 1.9% Cu, 5.3g/t PGE and identified a 40km highly prospective ultramafic belt. Follow-up drilling at Olympia and other regional prospects throughout 2005 & 2006 returned lesser intersections of sulphides and this, coupled with a change of management (from WMC to BHPB) led to the suspension of mineral exploration.
In 2009 Falcon negotiated a new agreement with BHPB whereby the Collurabbie Project was assigned 100% to Falcon in return for an option over the off-take rights to any ore or concentrate produced from the project.
Falcon recommenced diamond drilling in June 2010 and has now completed three drilling campaigns (25 holes 7,472m) to test the continuity and better define the geometry of massive and matrix sulphide mineralization at Olympia and to test electromagnetic conductors and embayment positions within ultramafics at Spartacus.
The Saxby Project is 150 km northeast of Cloncurry in northwest Queensland. The project has been divested to Strategic Energy Resources Limited.
The target rocks, termed basement are buried beneath 400m of younger sedimentary rocks and as such, exploration is challenging and high risk. Nonetheless, the district is highly prospective as the buried basement rocks are interpreted as belonging to the Eastern Succession of the Mt Isa Province which has a long and proven record of mineral endowment. The Eastern Succession hosts significant copper-gold, molybdenum, lead-silver-zinc and uranium deposits and is recognised as a world-class exploration destination.
Falcon and its former joint venture partners have used airborne magnetic, ground gravity and ground electromagnetic surveys to facilitate mapping of prospective units under deep cover followed by diamond drill testing of selected targets. The technical success rate has been high with diamond drill holes intersecting low-grade nickel-copper sulphides in gabbro-norite, anomalous uranium in pegmatoid-bearing metasedimentary rocks, elevated copper-rare earth elements in skarn and structurally-hosted gold at the contact between meta-mafic and meta-felsic rock types.
Deleta Joint Venture, Duketon Belt - Yilgarn Block WA
This project is immediately south of the Collurabbie Project and is managed and operated by Regis Resources Limited (Regis). Falcon has a 20% free carried interest to the completion of a bankable feasibility study.
Regis is evaluating the prospective area for gold and nickel. Previous work has identified lateritic nickel mineralisation (best 12m at 1.6% Ni from 48m) and gold mineralisation (best 12m at 3.2g/t Au from 136m) from prospects along the Collurabbie ultramafic trend.
Windanning Hill Joint Venture, Yalgoo Belt – Yilgarn Block WA
This project is located within the Yalgoo-Singleton greenstone belt, 400 km north-north-east of Perth. Falcon retains a diluting equity (currently ~ 21.5%) in two separate joint ventures covering gold and base metals (Minjar Gold) and iron ore (Gindalbie Metals). The project contains a JORC Code-compliant Inferred Resource of 281,000 tonnes at 2.2 g/t gold for 19,900 ounces of contained gold.
Falcon Minerals Limited
245 Churchill Avenue
+61 8 9382 1596
Fax: +61 8 9382 4637
The General Overview, Services, Products and Projects information for this profile was last edited on 26 Sep 2016.