Flynn Gold Limited (ASX: FG1, 'Flynn' or 'the Company') is pleased to provide an update on exploration and drilling activities at its 100%-owned Golden Ridge Project, located in Northeast Tasmania.
In November 2024, Flynn published a maiden JORC compliant Exploration Target for the Golden Ridge Project1 covering the Trafalgar, Link Zone and Brilliant Prospects. Highly prospective targets located nearby such as the Grenadier Prospect are not included within the Exploration Target, presenting excellent opportunities to add to the Exploration Target with further exploration.
Managing Director and CEO, Neil Marston commented, 'Our ongoing sampling campaign continues to identify prospective areas and upgrade the prospectivity of known gold targets. The sampling results from our Grenadier Prospect have now defined gold-in-soil anomalism over 1km north-south, and 500m east-west, with this significant gold anomaly undrilled and remaining open to the north, south and east. 'This anomaly is now similar in size to the gold-in-soil anomaly at Trafalgar, which is our most advanced prospect, where gold mineralisation is contained in a network of north-east striking vein zones that extend up to 600m along strike and 500m down-dip from surface with open strike and dip extents. 'We are planning to undertake further trenching campaigns at Grenadier to test beneath some of the exceptional gold-in-soil results and have also commenced a broad soil sampling program that aims to test the unexplored interior of the prospective granodiorite. Grenadier is advancing quickly towards being a very good drill target, with planning underway to drill test the down-dip continuation beneath auriferous quartz veins intersected in surface trenching. 'All of this work highlights the potential to delineate a substantial high-grade gold project at Golden Ridge with effective and targeted ongoing exploration.'
Soil Sampling Update
A soil sampling program has been progressively undertaken at the Golden Ridge Project since a trial using the UltraFine+ analytical technique was successfully initiated in May 20222. This soil sampling program led to the discovery of the Grenadier prospect, with followup trenching which was first reported by the Company in October 20243. The latest soil sampling results have increased the size of the gold anomaly and further enhanced the prospectivity of the Grenadier Prospect. Recent sampling has focused on four prospect areas: Grenadier: An in-fill line and an additional eastern line at Grenadier have been completed, returning very high gold results of up to 105.2ppb Au and 108.9ppb Au, along with coincident anomalous arsenic results. These latest results confirm that the gold-in-soil anomaly extends for over 1km north-south and 500m east-west along the south-western margin of the granodiorite contact. The anomaly is open to the east toward the interior of the Golden Ridge granodiorite batholith and along the granodiorite-sedimentary contact. Adelphi: Two additional lines were completed to the east and west of the Adelphi Prospect, which is a gold-in-soil anomaly within a dioritic lens mapped in the interior of the Golden Ridge granodiorite body. There are several diorite lenses mapped within the Golden Ridge granodiorite that are yet to be explored. Big Penny: Soil sampling has been extended northwards and eastwards with grades consistent with previous anomalous results4. A new anomaly is emerging at the very northern end of one of sample lines, which will be investigated with additional soil sampling further to the north. Trafalgar: A single short line to the east of Trafalgar indicates that soil anomalies are still open to the east away from the granodiorite contact. A 'Ridge and Road' first pass soil campaign is in progress to test unexplored parts of the Golden Ridge batholith plus the north and north-eastern contacts, which have been largely unexplored to date.
Grenadier Prospect - Sampling Update The Grenadier Prospect was first identified through soil sampling, which was followed up by additional soil sampling campaigns and a trenching program5. Previous trenches excavated by Flynn at the prospect intersected steeply-dipping quartz veins that strike to the north-east, with previously reported significant mineralisation in trenches such as 1.3m @ 6.6g/t Au including 0.4m @ 17.7g/t Au in Trench 3. Follow-up field mapping and sampling at Grenadier has identified further areas of quartz float that include evidence of arsenopyrite (weathered to scorodite) and pyrite mineralisation, which is characteristic of the intrusive-related gold system (IRGS) veining seen throughout the broader Golden Ridge Project area. A further 10 float and in-situ rock chip samples were recently collected, returning assay grades ranging up to 18.6g/t Au, 16.3g/t Au, 15.3g/t Au and 13.3g/t Au. An ongoing trenching campaign at the Grenadier prospect has progressively increased the strike extent of gold-in-quartz mineralisation, with the results of the latest trench channel sampling confirming that the mineralized zone is continuous for at least 130m along strike. A new 55m long trench (Trench 4) was excavated 40m south-west of the previous trenches. The new trench successfully intersected the quartz vein observed in the previous trenches, returning 2.3m @ 4.2g/t Au including 0.4m @ 11.0g/t Au. Trenches 5 and 6 have been excavated to identify the contact between the Golden Ridge granodiorite and the Mathinna metasediments. Trench 5 successfully intersected quartz veining within the mineralised zone along strike of previous trenches, returning 0.5m @ 1.9g/t Au. Trench 6 did not contain significant mineralisation but was successful in confirming the location of the contact. Soil sampling and rock-chip results to the northeast of the trenching area suggest that mineralisation is still open along strike to the north-east and could be continuous for at least 200m along strike beyond the area tested by trenching. This indicates the potential for mineralisation identified in the trenches to be continuous along strike for greater than 330 metres. Plans to drill test trench mineralisation at Grenadier will be finalized after a larger part of the broad gold-in-soil anomaly has been investigated by surface mapping, rock chip sampling and trenching.
Contact:
Neil Marston
Managing Director & CEO
Tel: +61 3 9692 7222
Email: info@flynngold.com.au
About Flynn Gold Limited
Flynn Gold is an Australian mineral exploration company with a portfolio of projects in Tasmania and Western Australia. The Company has nine 100% owned tenements located in northeast Tasmania which are highly prospective for gold as well as tin/tungsten. The Company also has the Henty zinc-lead-silver project on Tasmania's mineral-rich west coast and the Firetower gold and battery metals project located in northern Tasmania. Flynn has also established a portfolio of gold-lithium exploration assets in the Pilbara and Yilgarn regions of Western Australia.
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