HIGH-GRADE mineral sands have been found by a gold exploration company drilling near Pyramid Hill.
Falcon Metals said on Monday that several holes at its newly named Farrelly Prospect returned high-grade results during the 77-hole aircore program
The company told the ASX that detailed grain counting and sachet scanning recorded encouraging levels of valuable heavy minerals, including elevated zircon and rutile. 
“Although monazite is present, further work is also needed to accurately quantify the amount of this mineral,” Falcon said.
It said several drill holes at its Marmal Prospect also confirmed the presence of mineral sands in areas that had not been previously explored.
Managing director Tim Markwell said: “The intersection of these high-grade zones of mineral sands in the Murray Basin is a positive development for Falcon, and this initial short program of drilling is in addition to the gold exploration program that is ongoing.”
Mr Markwell said the company’s focus would remain on gold exploration in the area.