• Shares of Falcon Metals Ltd rise 22.6% to A$0.19, their highest level since October 4, 2024

• Diversified miner rose as much as 39% to A$0.215, marking its biggest intraday pct gain since May 28, 2024

• Co anticipates presence of high-grade gold in the first-ever drilling test at the Blue Moon target area in Victoria

• Around 1.68 mln shares change hands, over 8x the 30-day avg trading volume of about 209,000

• Shares up 73.9% YTD

(Reporting by Shruti Agarwal in Bengaluru)