Yeah, thanks for that introduction, Paul. Japan do actually have a cricket team, and they're not too bad. Thanks to the Diggers team for the introduction to present here today. It's good to be another Victorian company up on the stage. I think I'm the third one today with significant activity in Victoria. As Mike Hudson showed you, Victoria is very much open for business, and in his own words, "We're back, baby." That was good to hear. Today I'll be talking to you about our Blue Moon project, which is the northern extension of Bendigo. It's a very exciting new discovery that has fantastic potential, I think. I'll also talk about our Errabiddy project, which is quite close to the Benz discovery at Glenburgh, and that's an emerging gold field. I'll touch on that at the end.
Blue Moon, it's in the Bendigo zone. The Bendigo zone is a world-class gold province. It's got several world-class gold mines. Obviously, the most famous of which is Bendigo itself, which is a 22-million-ounce gold field that was famously high grade at 15 g. I'll talk about that a bit more in the moment. 25 km to the east, we have the Fosterville gold mine. Mike touched on that in his talk. It's a fabulous gold mine. It was a bit of an ugly duckling in the gold industry back in the day. It was a sort of lowish grade refractory ore body. It never really made a lot of money for its several owners. It changed ownership a lot.
When the music stopped in 2016, Agnico Kirkland ended up with it, and within a year of them owning it, I think they discovered the Swan Zone and they turned a lowish grade refractory ore body into a world-class free milling, ultra-high grade ore body. I think in its heyday in the early 2020s, it was making AUD +1 billion in free cash flow and is still going strong today. That's a fabulous asset. It really did put Victoria back on the map. When that happened in the 2020s, Falcon listed. When we listed, I'd employed an exploration manager, Doug Winzar, who was a Bendigo born and bred guy.
Just as he was about to start working at Falcon, that Bendigo exploration permit that surrounds the old Bendigo mine became available, and Doug called me very excited and said, "Look, we have to peg this. This hasn't been explored properly. I think it's got amazing potential." Because everyone was focused on Fosterville, no one really paid any attention to that Bendigo license. We were able to peg it, and the rest is history. We drilled the down plunge extension of Bendigo, hit it with the first hole, and you can see those grades there that we got with the first hole and the subsequent holes. We're getting ultra-high grades. It is the northern continuation of Bendigo. It's a big picture project. We have many kilometers to drill, multiple lines of reef to target, and we're busy with three diamond rigs going 24/7.
That'll form the basis of the talk today. Quick corporate snapshot. A very strong register. We have Jupiter, we have Franklin Templeton, very classy, a long-only fund. It's great to have those guys on Board. Tim Goyder has been there from the very beginning and he's a great supporter. Macquarie turned up on the register earlier this year, and we have other funds like Paradice, Mackenzie, et cetera. Very strong register, and I think that bodes well for the future. Share price in around the AUD 0.40 mark, which gives us a market cap of just under AUD 90 million. We still had AUD 15 million of cash at the end of June. We've got plenty of cash to do what we need to do. Strong Board, I think. Mark Bennett's the Chairman.
He's been on this stage many times, and there's some stories about him being on this stage with his Nova-Bollinger discovery. He's a bit of a legend in the industry. He's now based in Melbourne, it's great to have someone of Mark's caliber to draw upon in Melbourne. Alex Dorsch is on the Board as well. He was the MD at Chalice when they discovered the Gonneville deposit. Big supporter of the Victoria gold industry. It's great to have Alex's ongoing involvement. Katina Law is a very experienced finance director. She's doing some pretty interesting things at Yandal Resources, it's great to have Katina on the Board. Pradeep's an ex-big four accounting CFO, and Doug's the Bendigo born and bred geologist, and as I said, he's the guy that really drove the Blue Moon acquisition and is a great operations guy.
A very strong team, I think. Onto Blue Moon. The first few kilometers of Blue Moon are in the Bendigo Regional Park. We've had a lot of success in getting drill approvals here. We've got quite a few drill pads approved. We've had no sort of hold ups at all with approvals. That's going very well. We've had strong community support too, that's very important in Victoria. That's all going extremely well. We're very happy with the way things have been going on that regard. There's a photo of some visible gold. That's the hit we got just before Diggers last year that really got everyone talking about this project. Given it's my first time presenting at Diggers, I thought I'd just touch on Bendigo and what makes Bendigo so special.
It is a world-class deposit, the numbers I like to talk about that demonstrate that quite clearly is since its discovery in 1851, the Bendigo Goldfield produced more than 200,000 oz a year for 65 years straight. There's not many goldfields in the world that have done that to that degree. That's what makes Bendigo so special. The reason it was special is not only was it very high grade, it had a couple of things going for it. That geological architecture. It has these anticlinal structures, and they provide not only high grade, but very continuous along strike. Although it's known for being very nuggety, because it's very continuous along strike and because you have these multiple stack structures, that more than makes up for that nuggety gold.
Bendigo was a very successful, very prolific goldfield, and I think there's every chance that this northern extension could do that again. You can see there how many head frames there were at Bendigo back in the day. This was a truly phenomenal bit of geology. Going a bit more into the project itself and boring down onto it. We have that dark blue area that surrounds the old Bendigo Goldfield, which we don't own. That's still with the government. We've got the 6 km of strike extent north of that Bendigo Goldfield. When we got a hold of this permit, when it got granted in 2023, we did a lot of work on it. We got a hold of a 3D reconstruction of all the drilling and all the workings that was done previously, which has been fabulous for us.
That showed us a couple of things, like the first place to start drilling north of that goldfield was the Garden Gully line. That was a 5.2 million ounce line of reef on its own. Those deep workings in the Garden Gully line, those historical workings, went right up to that tenement boundary, as you'll see in a minute. We were able to line up our first drill hole very successfully. Importantly, there's also many other reefs to test. We've started on the Garden Gully line, but we have other targets once we move across and get the other rigs working on these parallel structures, and that's what will really give us that scale, hopefully enable us to demonstrate that scale opportunity at Blue Moon.
Just to be clear here, this is the first time anyone has drilled or properly tested the northern extension of Bendigo. I know it's hard to believe, but people previously were so focused on mining under Bendigo, they sort of disregarded that northern extension potential. The reason for that is shown in this long section. It's a bit of a clunky long section, but I like it because it's the one we put out when we first started drilling last year. On the left, we have the Bendigo Goldfield. That's the Garden Gully line. That was a 5.2 million ounce gold field. The best shafts are shown there in the dark color.
They were the 10 best shafts at Garden Gully, some of those shafts are more than a kilometer deep, and they go right up to our tenement boundary where that green line is. Once you cross that tenement boundary onto the Blue Moon permit, you can see the shafts are quite shallow. None of those shafts from the old timers went deep enough to get into where that mineralization plunges to the north. That was the opportunity with this project. We lined up our first rig, drilled that red hole, and straightaway we got high-grade visible gold. It looks simple, but it took a lot of work to get to that point. This is where we are today. We've now extended our drilling 850 m along strike.
We've now got five quartz zones that we've been delivering visible gold and high grades. It's all getting very exciting. What this really shows is the classic Bendigo characteristics. We have multiple stack reefs. It's very continuous along strike. We are hitting these sections, these reefs in every section. That is obviously a big positive, and obviously we're also getting high-grade coarse gold. This is classic Bendigo. This is why we're so excited about what the next few kilometers can give us because we've only tested 850 m of what could be a 6-km strike on our ground. That's really what's going to demonstrate that scale. This work that we're doing now is all about demonstrating scale with these 200-m step-out holes. This is just a short fly-through that really does demonstrate the opportunity with Bendigo.
We do have a big tenement package in the Bendigo zone, but I'll only focus on Blue Moon today. You can see there's our permit that wraps around the Bendigo gold reefs in blue. We don't own the ground where those blue reefs are. As it zooms in, you'll see the surface geology peel away, and it shows you all the underground workings that made up that 22 million ounce ore body. This is what a 22 million ounce ore body looks like from underground. Very extensive workings. It's a sea of shafts and drives that go on forever. It's very impressive. The Garden Gully line is the ones in green. That's the one that we initially focused on because it was the best one. You can see there it was 10 km long. It was 5.2 million ounces.
The quartz reefs that were exploited are there in red, that's why they are very continuous along strike. Again, that's a very important characteristic of Bendigo. You can see there they're plunging to the north, so they're getting deeper to the north, and we've come along and drilled our holes. I haven't put all the reefs on because we've discovered two new ones and I didn't have time to put that in the preso. You'll see there the light blue lines. They're the drilling that's coming up in the next 6 - 12 months. We've got a lot of drilling planned to really step out with those 200-m step-out holes and really demonstrate the scale potential at Bendigo. This is an old map that we really love. It's a 1903 map done by Whitelaw, who was a bit of a legend in Bendigo.
What it shows here is all those additional parallel anticlines have all been mapped, and we know where they are. This is really a systematic drill out of these lines of reef that we know are there, and it's really just a matter of demonstrating that they're still mineralized to the same degree. We have a lot of work to do here, and as you can see, this does have multi-million ounce potential if we continue to be successful. Here's some photos of some of the visible gold we've hit. That one in the middle, take note of that. That was a + 500 g hit that we announced pre-Diggers last year. What we did is we got the half core that was left over from that, and we put it through an X-ray scan. This was done by Melbourne Uni.
They use X-ray CT scanning for this. What they do is, they get the scans and they animate it and just show what the gold looks like inside that core that we didn't assay. The quartz gets peeled away, then the shale and the sulfides get peeled away, then you get left with the gold. This is the gold that we didn't assay. Maybe we should have assayed this half of the core. You can see there how impressive this is. This is what makes Bendigo so special. As you look at that, you can see we're probably not going to have an issue with metallurgy at Bendigo because the gold is so coarse. We have a lot of momentum now, a lot of drilling momentum. This is a scale play, as I've said. We're doing this 200-m step-out drilling.
We're going to drill the first 2 km- 2.5 km of the Garden Gully line. All those drilling pads are approved, we've got a nice runway of drilling ahead of us. We have a third rig that started testing parallel structures, and we've done a nice stratigraphic hole that's given us a lot of information. Shortly, that rig will start testing another parallel structure. The idea is to replicate what we've done on the Garden Gully line with the other parallel structures and really get things moving. We're undertaking a process now of increasing the number of drill approvals and really stepping up our activity. That's something we're working on in the background. We have more than 5 km left to drill on the Garden Gully line and multiple parallel reefs to test.
We are no longer proving the system. We're testing on how big this system is, and I think that's important. That's Blue Moon. Very exciting. A lot of news flow coming out, I think, over the next few months. I just want to talk about our Errabiddy Gold Project. This is something we did a joint venture on just nearly two years ago. There was a nice soil anomaly that we quite liked. It was a bit of a quiet area. There wasn't much activity going on, but that's all changed. It's situated in the Errabiddy Shear Zone, which is the very northern margin of the Yilgarn Craton. It's a craton margin project. If anyone saw Mark's talk yesterday for Benz Mining, it was probably one of the most impressive mic drop talks I've ever seen up on the stage at Diggers.
He called this area a vast gold district. I love that term. It's a great term, and I hope it's true because we have a project that's only 35 km away from that Benz Mining project where they've just recently announced a 12 million ounce exploration target. It's very exciting for us. What this project is a 5.8-km-long soil anomaly in very similar rocks to what Benz have. If you look at the Benz booth and see the core they have on their bench and go look at our poster and see where we've been doing our rock chips, to us, they look very similar, which is highly encouraging. This has never been drilled. We've done a whole lot of work on the soils and recent rock chipping. Importantly, we're getting more than 1 g in soils, which is very rare and very exciting.
We're also getting nice rock chip results. Where we got those 1 g in soils, we did some recent rock chipping just to really understand where was this gold coming from. Initially, we thought it might be coming from the quartz, but it's coming from the host rock, which is this biotite schist. That gets us really exciting, because if it's coming from the biotite schist, it's very similar to what Benz are getting, we think, and what Tropicana got. These are all these large-scale craton margin gold projects. Again, it's never been drilled. We won't know what we've got here until we get those rigs turning. We've been very lucky with the approval process and the heritage. It's all approved. We're lining up a drill rig, hopefully to start in the second week of September.
Once we confirm that, we'll certainly let the market know that this drilling is about to begin. We'll do a 3,500-m RC program here as soon as we can, because this needs to be drilled given what's happened just up the road. That's it for this talk. Great team, multiple discoveries in the team. We're here to find big deposits, and that's what we're driven to do. The Blue Moon Project is delivering high-grade hits, and it's a scale play, so hopefully we can keep delivering those high-grade hits to the market. We have the real exciting up-and-coming emerging project like Errabiddy, which could be very exciting if we can replicate what's happened up the road, and importantly, we have the cash to do it. Thanks very much.