Flynn Gold Limited (ASX: FG1, 'Flynn' or 'the Company') is pleased to announce the discovery of an extensive system of gold bearing quartz veins within historical workings located approximately 250m north of the historic Trafalgar Mine at its 100% owned Golden Ridge Project in Northeast Tasmania.
Managing Director & CEO Neil Marston, commenting on the results said: 'The company is excited by the discovery of multiple high-grade gold veins approximately 250m north of the main Trafalgar gold deposit at Golden Ridge in Northeast Tasmania. These gold veins were exposed in trenching over an area of historical mine workings which appear unrecorded since they were dug about a century ago. 'The vein system potentially expands the footprint of gold mineralisation at Trafalgar to a 500m wide corridor which remains open in all directions, once again confirming the potential for significant scale at the Golden Ridge Project.' 'With so many high-grade gold assays recorded at the surface we have adjusted our ongoing diamond drilling program to test beneath these old workings and we look forward to reporting the results of this drilling shortly.'
Field Mapping and Trenching Program
Following up on recent gold-in-soil anomalies1 Flynn geologists have discovered an area of previously unmapped historical prospecting trenches, pits and adits which are believed to have been excavated as late as the 1930's. The main feature of the historical workings is a 240m long North-South trench which was possibly part of a historic water race that exposed the gold bearing veins during its construction. Flynn recently re-excavated part of this historical trench and has added new trenching nearby. As a result of the trenching work, Flynn has mapped and sampled 19 in-situ quartzsulphide veins over a width of 65m to date, with initial grab samples collected recording gold grades up to 76.6g/t Au from in-situ outcropping veins
Gold bearing quartz-sulphide veins in the trenches are steeply dipping and strike to the northeast, which is a similar orientation to the trend of the main veins intersected by drilling further to the south at the Trafalgar prospect. The new vein zone is hosted in granodiorite, supporting the Company's view that the Golden Ridge Project is an Intrusive Related Gold System (IRGS) and is located north of veins identified at the bottom of hole TFDD002. This implies a potential vertical extent of 425m from surface and a total horizontal width of mineralisation of approximately 500m, which is open at depth and to the north and south. Veining at Trafalgar occurs over a strike length of at least 400m as proven by recent diamond drilling which is open along strike and at depth. Previously reported drilling results from Trafalgar include multiple intersections grading >100g/t Au and up to 169g/t Au2. Confirmation of high-grade gold bearing quartz veins in the trench area significantly broadens the known mineralisation footprint of the Trafalgar prospect from a 300m wide corridor to almost 500m wide. Future exploration campaigns will aim to further increase the extent of the corridor north of the trenching area and south of the Trafalgar deposit.
Trafalgar Prospect - Phase 3 Drilling Update Phase 3 drilling commenced at the Trafalgar prospect in mid-April 2024. The planned diamond drill program is designed to test strike and dip extensions and infill around previously discovered high-grade gold intercepts. Three diamond holes, TFDD016-018 have been completed for 927.0m to date. TFDD019 is currently being drilled beneath the new discovery area
Golden Ridge - Project Background
The Company's flagship Golden Ridge Project is situated within EL17/2018 in Northeast Tasmania. The Trafalgar Prospect, along with Flynn's Brilliant and Link Zone prospects occur within a 2.5km corridor of gold mineralisation that trends along a prospective granodiorite-metasediment contact. This corridor is contained in a broader zone of gold anomalism that forms around the contact of the Golden Ridge granodiorite intrusion with a total length exceeding 9km
Contact:
Neil Marston
Managing Director & CEO
Tel: +61 3 9692 7222
Email: info@flynngold.com.au
Ben Creagh
Media & Investor Relations
Tel: +61 (0) 417 464 233
Email: benc@nwrcommunications.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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