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Highlights
- Expansion Potential at Grenadier Prospect: Flynn Gold uncovers high-grade gold in trenching and rock chip samples at the Grenadier Prospect, with assays up to 11 grams per tonne (g/t).
- Exploration Target Growth: Flynn's initial exploration target of 3.5-5.4 million tonnes grading 3.0-4.0 g/t Au could expand following recent high-grade findings at Grenadier.
- Soil Sampling and Anomaly Extension: The latest UltraFine+ soil sampling at Grenadier has extended the gold anomaly to over 1,000 metres by 500 metres, with results showing exceptionally high assays up to 109ppb Au.
Flynn Gold Ltd (ASX:FG1) is seeing strong potential for expansion at its Golden Ridge project in northwest Tasmania, particularly at the Grenadier Prospect, where high-grade gold results are emerging from recent exploration work.
In the two months since releasing an initial exploration target, the company has unveiled exciting new findings that suggest the possibility of an even larger resource. The original exploration target focused on the Trafalgar, Brilliant, and Link Zone prospects, estimating between 3.5 million and 5.4 million tonnes grading between 3.0 and 4.0 grams per tonne (g/t) of gold, translating to 449,000 to 520,000 ounces of contained gold.
However, at Grenadier – a prospect that had never been drilled before – trenching work has uncovered gold-bearing quartz veins over an open strike length of 130 metres. The trenching results include an impressive top interval of 2.3 metres at 4.2 g/t Au, with a standout section yielding 0.4 metres at a remarkable 11.0 g/t Au.
Additionally, Flynn Gold has collected rock chip samples from the Grenadier area, returning high-grade assays ranging from 18.6 g/t Au to 13.3 g/t Au. These results further suggest significant gold potential at Grenadier, a site that has yet to be fully explored.
Soil Sampling and Anomalies
Flynn is advancing its exploration efforts with soil sampling at Grenadier, which has now been expanded to include testing of the main granodiorite body for possible new IRGS (Intrusive Related Gold Systems) gold anomalies. The latest UltraFine+ soil sampling has extended the gold anomaly to over 1,000 metres by 500 metres. This survey has also returned exceptionally high assay results, including readings of 105ppb Au and 109ppb Au.
Managing director and CEO Neil Marston emphasized that the ongoing soil sampling campaign is focused on identifying prospective areas and refining the prospectivity of known gold targets. This enhanced data will help guide future drilling and exploration at the site.
Market Response
As of the latest trading, Flynn Gold shares have been priced at 2.5 cents.
