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Brunswick Exploration: Exploring High-Grade Copper and Gold Projects in New Brunswick and Quebec
Brunswick Exploration (TSXV:BRW) offers shareholders access to a highly experienced management team and board of directors with a focus on grassroot exploration.
The company's exploration team is led by Robert Wares, founder of the Osisko Group of Companies. Brunswick Exploration's notable projects include Fundy Gold and Bathurst Mining Camp. The Fundy Gold project is a high-grade, multi-ounce and gold-polymetallic project in New Brunswick, Canada.
Brunswick Exploration's Company Highlights
- Brunswick Exploration focused on exploring and developing a diversified portfolio of highly prospective high-grade gold and copper projects in Eastern Canada.
- Brunswick Exploration's Fundy Gold project is a high-grade, multi-ounce and gold-polymetallic project in New Brunswick. The project includes a gold-silver-copper vein system with 67.2 g/t Au, 17 g/t Ag and 0.59 percent Cu and a gold-silver-copper-lead antimony vein system with 2.02 g/t Au, 309 g/t Ag, 1.19 percent Cu and 3.02 percent.
- The Bathurst Mining Camp project is a high-grade base metal VMS project located in the prolific Bathurst Mining Camp in New Brunswick. The total indicated mineral resource on the Bathurst Mining is a significant 1.96 million tonnes including 2.38 percent lead, 0.22 percent copper, 68.90 g/t silver and 9.00 percent zinc equivalent. The total inferred resource is 3.85 million tonnes including 5.34 percent zinc, 1.49 percent lead, 0.32 percent copper, 47.7 g/t silver and 7.96 percent zinc equivalent. The mineral resource cut-off grade is an excellent 5.5 percent zinc equivalent.
- The company's Quebec-based projects include the nickel-copper Lac Edouard project and the base metal Waconichi project in the prolific Abitibi gold belt.
- Brunswick Exploration's Bathurst Mining Camp and Fundy Gold projects are located near the past-producing Brunswick No. 12 and No. 6 mines. The mine at the Brunswick No. 12 deposit was one of the largest underground zinc mines in the world.
- Brunswick Exploration is led by Robert Wares, founder of Osisko Mining.
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Brunswick Exploration
Overview
Brunswick Exploration (TSXV:BRW, OTCQB:BRWXF) has a diversified portfolio of highly prospective critical mineral properties in Canada. The company focuses on acquiring underexplored grassroots lithium projects with upside potential.
The company's exploration team is led by Robert Wares, co-founder of the Osisko Group of Companies. Wares is an established and award-winning professional geologist with over 35 years of experience in mineral exploration and development, and a proven track record of world-class discovery, including the Canadian Malartic bulk tonnage gold mine, which later became one of the largest-producing gold mines in Canada.
Company Highlights
- Brunswick Exploration (BRW) is focused on exploring and developing a diversified portfolio of highly prospective critical minerals projects in Canada. The company continually evaluates new acquisitions to expand its portfolio of underdeveloped lithium hard-rock (pegmatites) assets.
- The company has built the largest grassroots lithium portfolio in the Americas and one of the largest in the world. BRW is active in Quebec, Ontario, Manitoba, Saskatchewan and Atlantic Canada.
- BRW has staked over 500 untested prospective pegmatites measuring a minimum strike length of 500 meters and within 40 kilometers of infrastructure.
- The company also acquired several lithium-bearing pegmatites including the Hearst Project in Ontario and the Hanson Lake Project in Saskatchewan.
- BRW's board includes Robert Wares, one of the founders of Osisko Mining.
- BRW commenced its 2023 exploration program with an inaugural drilling campaign at the Anatacau West Project in Quebec.
- The company launched a 5,000-meter drill program at the Mirage Project, located in the Eeyou Istchee-James Bay region of Quebec. The phase 1, 26-hole program, will test continuity and widths of the six widest spodumene-bearing pegmatite dykes that have been discovered to date on the property over a total cumulative strike length of 2,500 meters.
- Brunswick began a major helicopter-supported prospecting initiative in the Eeyou Istchee-James Bay region of Quebec.
- BRW was recognized as one of the Top 50 TSX Venture listed companies in 2023.
Key Projects
Quebec
James Bay
Located in a region known for hard rock lithium deposits, the James Bay land package now includes approximately 250 large pegmatite dykes with strike lengths between 500 and 7,000 meters, as well as dozens of smaller dykes.
The James Bay region has been the top priority for the 2023 exploration program in Quebec. A 3,000-meter drill program was undertaken at the Anatacau West project, located in the Eeyou-Istchee James Bay region targeting the potential eastern extension of Allkem's James Bay lithium deposit in an area that has yet to be drill-tested. Results of the drill campaign, which covered 17 out of 18 holes that intercepted pegmatites, included:
- 25.1 meters at 1 percent lithium oxide in drill hole AW-23-17, including 18.1 meters at 1.37 percent lithium oxide;
- 18.2 meters at 1.31 percent lithium oxide in drill hole AW-23-18;
- 18.2 meters at 1.33 percent lithium oxide, including 9.5 meters at 1.74 percent lithium oxide and 3.5 meters at 2.11 percent lithium oxide in drill hole AW-23-05.
BRW also began a major helicopter-supported prospecting initiative in the Eeyou Istchee-James Bay. A minimum of three helicopters will support the initiative with up to six teams operating at any one time.
BRW plans to shift its focus and exploration efforts in the Eeyou Istchee-James Bay. This efficient and cost-effective strategy remains ongoing and has resulted in several lithium discoveries within the James Bay Region.
The company’s strategic position within the James Bay area is further strengthened by two exploration options. BRW signed an option agreement with Midland Exploration (TSXV:MD) to acquire a maximum 85 percent interest in potential LCT (lithium-cesium-tantalum) mineralization of the Mythril and Elrond properties. The company also entered into an agreement with Osisko Development Corp. (TSXV:ODV) to acquire a 90-percent interest in the PLEX Project located along the same fault structure that hosts Patriot Battery Metals’ Corvette lithium project. In January 2023, BRW staked additional claims in the James Bay-Eeyou Istchee region that is highly prospective for LCT pegmatites and optioned the adjacent Mirage Project claim block from Globex Mining Enterprises (TSX:GMX).
North Shore
The North Shore project is close to road access with 30 pegmatite dykes and sills. BRW deployed prospecting teams in the area in 2022. PXRF field measurement values reported within the sill were similar to those commonly observed in LCT pegmatites. This area was more closely mapped in the last quarter of 2022 and, although certain indicator minerals were identified, no lithium mineralization was uncovered. The sills are generally gently dipping and less than 10 meters in thickness. More regional prospecting is planned in 2023 to better explain the highly anomalous field measurement values identified.
Mirage Project
More than 150 boulders were identified across 3 kilometers of strike length indicating potential for new sources yet to be identified.
The Mirage project is composed of 198 claims with a total surface area of 8,884 hectares located about 40 kilometers south of the Trans-Taiga Highway in Quebec’s James Bay region.
BRW staked these claims after a discussion with a geologist who worked in the area 25 years ago. The geologist was exploring for gold but recorded the presence of several angular pegmatitic glacial boulders hosting well-defined, decimetric spodumene crystals. The largest observed boulder measured 8 meters x 4 meters x 3 meters. Pale grey spodumene crystals were positively identified following lithium flame tests. The large size of the boulders, their quantity and angular nature indicate a proximal source.
BRW commenced its 5,000-meter drill program at the Mirage Project. Phase 1, a 26-hole program, aimed to test the continuity and widths of the six widest spodumene-bearing pegmatite dykes that have been discovered to date on the property over a total cumulative strike length of 2,500 meters. The company also reported that further prospecting has identified additional spodumene-bearing outcrops approximately 4.5 kilometers northeast of the center of the previously defined dyke field. The trend of mineralized dykes now extends for about 6 kilometers with the boulder field extending for an additional 2.7 kilometers to the southwest.Ontario
Hearst
The Hearst project comprises 1,418 cells and 226 claim blocks with a total surface area of 29,805 hectares, located 15 kilometers south of Hearst, Ontario. The property has more than 130 mapped or interpreted pegmatite dykes of which 25 are between 500 to 2,100 meters in strike length. Limited prospecting previously conducted in the area highlighted several evolved pegmatites within a 10-kilometer radius. The company has scheduled a drill program in 2023 that initially focused on decoy pegmatite.
Saskatchewan
Hanson Lake Project
The Hanson Lake project is a new highly prospective claim package located roughly 55 kilometers west of Creighton, Saskatchewan, within 2 kilometers from a major highway. This package contains four spodumene-bearing pegmatites hosted within a much larger pegmatite field, none of which has been drilled. The package contains 57 mapped S-type pegmatites that are between 0.5 and 2.2 kilometers in strike length. The Hanson Lake pegmatite field has been known since the 1960s but exploration was focused on beryllium, tantalum and other rare metals potential. The pegmatite field is located within an 8-kilometer by 3-kilometer corridor that is part of the larger Jan Lake granite-pegmatite suite which is present throughout the entire package. The majority of the project has not been mapped in detail and none of the pegmatites have been systematically sampled or drilled for lithium. Spodumene has been mapped in four different pegmatites with the largest reaching up to 16 meters in width and roughly 550 meters in strike length.
Trans-Hudson Project
The Trans-Hudson Project comprises 36 claims with a total surface area of 79,892 hectares, located roughly around and in between the communities of Creighton, La Ronge, and Southend in central Saskatchewan. The properties contain 124 mapped and interpreted pegmatites that are between 0.5 and 14.5 kilometers in strike length. Pegmatites were staked based on preferred geologic environments, historical geochemistry and historical mapping. Importantly, they have seen little to no exploration for lithium. The Trans-Hudson orogeny is a series of Paleoproterozoic volcanic and metasedimentary belts that join the Superior, Hearne-Rae and Wyoming cratons of the Archean. This package hosts numerous mafic volcanics, felsic volcanics, granitoids, gneisses, metasediments, quartzites, marbles and pegmatites. Many pegmatites are described as white and containing beryl, tourmaline, garnet and/or muscovite, which indicates they are S-type and have potential to host LCT mineralization.
Lake Athabasca Project
This Project comprises 1 claim with a total surface area of 1,386 hectares, located roughly 75 kilometers west of Uranium City, near the border with Alberta. The property contains 2 mapped pegmatites that are roughly 1,500 meters in strike length. Claims were staked based on preferred geologic environments and historical mapping and have seen no prior lithium exploration.
Manitoba
The project contains 9 mapped pegmatites, near Lynn Lake, that are between 500 and 8,500 meters in strike length. Lynn Lake is a well-established mining hub in Northern Manitoba with all necessary infrastructure in place. Claims were staked based on preferred geologic environments and historical mapping that have seen little to no lithium exploration. This project is within the Paleoproterozoic Trans-Hudson belt that extends to BRW claims located in Saskatchewan.
Management Team
Robert Wares - Executive Chairman
Robert Wares is a professional geologist with more than 35 years of experience in mineral exploration and development. He was responsible for discovering the Canadian Malartic bulk tonnage gold mine, which was subsequently developed by Osisko Mining into one of Canada's largest gold producers. Wares was a co-winner of the Prospectors and Developers Association of Canada's "Prospector of the Year Award" for 2007. He was also named one of the"Mining Men of the Year" for 2009 by the Northern Miner. Wares will remain at Osisko Metals in an advisory capacity. He has a bachelor of science and an honorary doctorate in Earth sciences from McGill University.
Killian Charles - President and CEO
From 2017 to 2021, Killian Charles worked as VP of corporate development for Osisko Metals. Charles was previously the manager of corporate development at Integra Gold Corp, which was an advanced-stage gold development company until it was acquired by Eldorado Gold in July 2017. He worked as a mining analyst at Industrial Alliance Securities and Laurentian Bank Securities. Charles covered small and mid-cap exploration and production companies as a mining analyst. Charles holds a bachelor of science with a major in Earth and planetary sciences from McGill University.
Anthony Glavac - CFO
Anthony Glavac has more than 17 years of experience in financial reporting, including over 12 years in the mining industry. Since August 2017, Glavac has served as vice-president, and corporate controller for Falco Resources, and previously served as director, financial reporting and internal controls at Dynacor Gold Mines. Glavac spent 10 years at KPMG, working with both public and private companies, providing audit, taxation, strategic advisory and public offering services. Glavac is also involved with other public companies in the mining industry.
François Goulet - Exploration Manager, Quebec
François Goulet holds a master’s degree in structural geology from the Université du Québec à Montréal (UQÀM). In recent years he was president and CEO of Harfang Exploration, a gold project generator in the James Bay region. He has extensive experience working in the James Bay region of Quebec as well as international experience in a variety of exploration projects. Goulet has worked for Virginia Mines, Unigold, Maya Gold and Silver, the Canadian Malartic Partnership, Glencore Canada and several other junior companies. He is a member of the board of directors of l’Association de l’exploration minière du Québec (AEMQ) and a registered geologist with the Ordre des géologues du Québec since January 2011.
Charles Kodors - Exploration Manager, Atlantic Canada
Charles Kodors has been with the company since January 2021. Having more than 14 years of experience in the mining industry, he has also been the exploration manager for Osisko Metals since April 2018 and most recently served as senior exploration geologist with Kirkland Lake Gold. Kodors received his B.Sc. from Brock University and is a registered professional geologist within the provinces of New Brunswick, Newfoundland, Nova Scotia, Ontario, Manitoba and Saskatchewan.
Las Alteras Project Presentation - April 2024
ARGENTINA URANIUM
NUCLEAR INDUSTRY – CURRENT LANDSCAPE
- Argentina has 3 nuclear reactors operating along with small modular reactors (SMR) under construction plus negotiations for the possible construction of a fourth nuclear power plant are ongoing
https://www-pub.iaea.org/MTCD/Publications/PDF/CNPP- 2021/countryprofiles/Argentina/Argentina.htm#:~:text=Argentina%20has%20three%20nuclear%20power,%2C%20and%20E mbalse%20(CNE) - Argentina currently imports approximately 500,000 lbs of U3O8 annually
https://blueskyuranium.com/assets/docs/Argentinas-Expanding-Nuclear-Energy-Industry-Needs-Domestic- Uranium-Supply.pdf - No significant uranium production in the country
- With rising uranium prices, there is a likely exploitation of known resources previously defined at Cerro Solo, Laguna Salada, Sierra Pintada, and Ivana
- Integrated exploration at an Argentinian basin level has not been carried out and the known resources are plausibly only a fraction of country’s uranium potential
- Centre for Nuclear Energy in Agriculture Centro (CNEA) controls Argentina's uranium market (since the 1950s) however this may change with the new administration and current uranium price environment
LAS ALTERAS PROJECT
- Via Greenshift Commodities Ltd (GCOM) subsidiary Buenavida Metales S.A; Norfolk has exclusivity to 22 claims totaling 60,396 hectares know as the Las Alteras Project
- Las Alteras project is a uranium project portfolio along Paleochannels and Calcrete environments favorable to giant uranium deposits
- Las Alteras land package represents a significant opportunity to be a major uranium explorer within the Cerro Solo District
- Fluvial and pyroclastic sediments constituting the Chubut Group settled down upon a Jurassic age basement
- These Jurassic volcanics (grouped as the Marifil Formation) covered much of eastern Chubut and Rio Negro and potentially supplied the material that makes up the Chubut Group sediments that host the mineralization
- Uranium hosted with pyrobitumen, indicating fluid mixing with methane. Potential for major uranium district with in-situ leach mining extraction considerations
Click here for the full ASX Release
This article includes content from Norfolk Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$80 Million Equity Raise Investor Presentation - April 2024
Investment Highlights
Rapid Resource Growth & Step-Out Exploration Success
- Growth of Never Never Mineral Resource to 953koz @ 5.7g/t1 – drill campaign funded for 2024/2025 and updated Mineral Resource Estimate expected to be released in mid-2024
- Never Never Exploration Target of 8.1 – 9.9 million tonnes at a grade of between 5.8 – 6.7g/t for 1.6 – 1.9Moz (inclusive of December 2023 MRE)2
- Multiple high-grade, wide intercepts in the past 18 months, including 59.0m @ 12.5g/t, 12.6m @ 34.5g/t and 54.0m @ 6.55g/t3
- One of the highest-grade deposits and most exciting recent discoveries in Australia
High-Impact Regional Targets
- Exploration success at Pepper including 17.5m @ 15.9g/t4 validates Spartan’s exploration thesis at the Dalgaranga Gold Project (Dalgaranga)
- Pepper sits parallel to Never Never and displays the same Never Never style mineralisation characteristics
- Multiple additional high-grade targets extending from the Gilbey’s Pit, including Four Pillars, West Winds and Sly Fox – lookalike mineralisation to Never Never
- Positive intercepts from recent drilling, including 17.5m @ 15.9g/t4 (Pepper), 20m @ 3.49g/t4 (West Winds) and 15m @ 6.06g/t4 (Four Pillars)
Infrastructure & Proximity
- < 6-year-old processing plant located less than 2.5km from Never Never and Gilbey’s deposits
- Installed infrastructure substantially reduces timeline and expenditure to restart operations
- Spartan currently investigating multiple strategies on potential development approach, including optimizing mill throughput to match sustainable mining schedules
Well Positioned to Execute Strategy
- Strong balance sheet strength with pro-forma cash of $110m5 and nil-debt on completion of the Offer
- Focused team with proven experience in exploration and resource development
- Spartan focused on exploration with proposed underground exploration decline to take Spartan within 50 to 100 metres of the Never Never orebody
- Importantly, this investment in the underground exploration decline will offset any future restart capex and reduce lead time to production
Click here for the full ASX Release
This article includes content from Spartan Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
A$80m Fully Underwritten Equity Raising to Accelerate Exploration and Development of Dalgaranga Gold Project
Proceeds to fund underground exploration decline to facilitate drill-out of Never Never, Pepper and Four Pillars, ongoing surface drilling, development studies and regional exploration
Spartan Resources Limited (Spartan or Company) (ASX:SPR) has today announced a fully underwritten $80 million Equity Raising to be conducted via a $33 million 1-for-17 pro rata accelerated non- renounceable entitlement offer and a $47 million placement to institutional, professional and sophisticated investors.
Highlights
- Fully underwritten $80m equity raising (Equity Raising) comprising:
- Institutional placement to raise approximately $47m (Placement); and
- A 1-for-17 pro rata accelerated non-renounceable entitlement offer of 56.8m shares to raise approximately $33m (Entitlement Offer).
- Equity Raising being conducted at a fixed offer price (Offer Price) of $0.58 per share, representing a 11.5% discount to the last closing price of $0.655 per share on 17 April 2024.
- The Equity Raising follows the Company’s continued run of exploration success at the high-grade Never Never deposit and its very recent success with the discovery of the high-grade Pepper Prospect, including an intersection of 17.5m @ 15.9g/t1:
- Pepper sits perpendicular to Never Never just 90m to the south and displays the same “Never Never” style mineralisation characteristics;
- The Pepper discovery further validates Spartan’s exploration thesis for the Dalgaranga Gold Project and will be a key focus for its upcoming drilling campaign along with other key targets including Sly Fox, Four Pillars and West Wings.
- Proceeds from the Equity Raising to be used to underpin a significantly expanded exploration campaign at Dalgaranga in 2024/25, including:
- Accelerated Resource extension drilling at Never Never, Pepper and the broader Gilbey’s Complex including “lookalike” targets (Sly Fox, Four Pillars, West Wings);
- The development of an underground exploration decline, which is scheduled to commence in the second half of 2024; and
- Site infrastructure early works, general working capital, care and maintenance, tenement commitments and corporate and transaction costs.
- Spartan is well-funded with pro-forma cash position of $110m on completion of the Equity Raising2.
Spartan Managing Director and Chief Executive Officer, Simon Lawson, said:
“This is a landmark capital raising for Spartan which puts the Company in an exceptional position to deliver on the huge potential of the Never Never discovery and our other recent exploration successes at Dalgaranga.
“The proceeds will allow us to establish an underground exploration decline that will take underground development to within 50 to 100 metres of the Never Never orebody. This will allow us to cost effectively drill-out Never Never, the new Pepper discovery and Four Pillars to a very high level of definition, while also testing other ‘look-alike’ targets in the vicinity.
“Importantly, the underground exploration decline is also likely to provide for an accelerated pathway to re-commence mining at the time of a Final Investment Decision to re-start production. The Spartan team is committed to ensuring a thorough and diligent approach is taken to the delineation of the high-grade orebodies at Dalgaranga. The proceeds of this capital raise will ensure we have the balance sheet strength to progress our robust and thorough re-start plan, and the financial flexibility to commence early works in advance of the re-start decision.”
Click here for the full ASX Release
This article includes content from Spartan Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Spartan Resources Limited (ASX: SPR) – Trading Halt
Description
The securities of Spartan Resources Limited (‘SPR’) will be placed in trading halt at the request of SPR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 22 April 2024 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from Spartan Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Exclusivity for Las Alteras Acquisition
Norfolk Metals Ltd (Norfolk or the Company) has executed an Exclusivity and Due Diligence Deed with Green Shift Commodities Ltd (GCOM), a company incorporated in Canada, to acquire 100% of the Las Alteras uranium project in Chubut, Argentina (Las Alteras). The successful acquisition will position Norfolk as a multinational multi-project uranium exploration company. This is an important step towards Norfolk’s plans to accumulate high value exploration projects in proven regions while maintaining a favorable company structure and cash reserves.
- Norfolk signs exclusivity agreement with Green Shift Commodities Ltd (TSXV GCOM) to acquire Las Alteras uranium project located in Argentina
- Las Alteras uranium project surrounded by non-JORC foreign estimates* at URAmerica’s Meseta Central deposit (19.1Mlbs eU308¹), CNEA’s Cerro Solo deposit (11.49Mlbs U308²), ISO Energy’s Laguna Salada deposit (10.1Mlbs U308³) along with the Cerro Condor and Los Adobes historical uranium mines
- Norfolk receives firm commitments for a strategic placement of A$415,746 via ASX Listing Rule 7.1 capacity
- Additional funding to assist in expediting due-diligence on Las Alteras and exploration planning on the Company’s projects
- Strong cash position of A$3.49m as at 31 December 2023
- Norfolk continues to review complementary projects as the Company looks to expand uranium project suite
- Norfolk to conduct executive search for additional Key Management Personal to progress Australia and Argentina uranium exploration projects
Figure 1: Location map of Las Alteras uranium project
Commenting on Norfolk Metals, Executive Chairman, Ben Phillips, states:
“Norfolk has secured an exceptional opportunity in Argentina where we expect to see strong increase in positive sentiment from government, uranium explorers and investors throughout 2024. Las Alteras is surrounded by multiple uranium deposits to the east, west and south with historical mines located to the north and south. We are currently reviewing the historical drill information boarding the eastern block of Las Alteras where uranium has been delineated in the same structures as the flagship Cerro Solo deposit. This uranium trend is increasing as the holes approach Las Alteras ground making this area one of several priorities of our focus.”
Las Alteras Exclusivity
Las Alteras uranium project is surrounded by non-JORC foreign estimates* at URAmerica’s Meseta Central deposit (19.1Mlbs eU308¹), CNEA’s Cerro Solo deposit (11.49Mlbs U308²), ISO Energy’s Laguna Salada deposit (10.1Mlbs U308³) along with the Cerro Condor and Los Adobes historical uranium mines. AlterasAs the uranium market continues to evolve globally it is Norfolk’s view that the Chubut region of the San Jorge Basin hosting the renowned government owned Cerro Solo deposit presents an exceptional opportunity to diversify and grow the Company. The addition of the Las Alteras project suite will allow Norfolk to progress the appointment of Key Management Personnel and advisors.
Please see the Company presentation regarding the Las Alteras uranium project released today on the ASX on the 18th of April 2024.
Click here for the full ASX Release
This article includes content from Norfolk Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Underway at Trafalgar High-Grade Gold Prospect
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide an update on activities at the Company’s 100% owned Golden Ridge Project located in Northeast Tasmania (Figure 1).
Highlights
- Phase 3 drilling has commenced at Trafalgar high-grade gold prospect
- Previously reported drilling included multiple intersections grading >100g/t Au, including:
- TFD001:
- 5.0m @ 12.56g/t Au, incl. 0.4m @ 150.0g/t Au from 202.0m
- TFDD003:
- 1.2m @ 65.9g/t Au, incl. 0.5m @ 143.0g/t Au from 57.5m
- TFDD005:
- 12.3m @ 16.8g/t Au, incl. 0.7m @ 152.5g/t Au from 120.3m
- TFDD013:
- 4.0m @ 23.7g/t Au, incl. 0.5m @ 169.8g/t Au from 25.9m
- TFD001:
- New geological vein model for Trafalgar indicates multiple sub- parallel high-grade veins
- An initial 1,500m drill program is planned that will comprise infill and extension drilling targeting down-dip and along-strike extensions to previous high-grade gold intercepts
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/DP4MXy
Geological modelling of the multiple high-grade veins intersected in drilling at the Trafalgar Prospect in 2022/23 has been completed. The next phase of diamond drilling (Phase 3) has commenced to test in-fill and extensional drilling targets generated from the new geological model.
Managing Director and CEO, Neil Marston commented,
“Since the completion of drilling at the Trafalgar prospect at Golden Ridge in 2023, Flynn Gold has been undertaking geological modelling of the high-grade gold intersected in multiple vein sets.
“This modelling work, in combination with our recent soil sampling activities, demonstrates the potential for extensive gold mineralisation at Golden Ridge.
“Based on the latest information we have designed a program of drill holes with the goal being to target down-dip and along-strike extensions to previous high-grade gold intercepts.
“As gold prices hit record highs, it’s an exciting time for our team to be drilling this new Tasmanian gold discovery.”
Figure 1 - Location of Flynn Gold tenements in NE Tasmania.
Trafalgar Prospect – Geological Vein Model
A 3D geological vein model was recently completed for the Trafalgar prospect. The model interprets 3 main gold mineralised veins, accompanied by a network of subsidiary mineralised splay veins and sheeted vein swarms bifurcating off the main veins (see Figure 2).
All of the main mineralised veins transect the granodiorite – hornfelsed metasediments contact, with gold mineralisation hosted in both the granodiorite and metasediment host rocks.
Click here for the full ASX Release
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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