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![Flynn Gold (AU:FG1)](https://investingnews.com/media-library/flynn-gold-au-fg1.jpg?id=50817600&width=980&quality=80)
Drilling Confirms Gold System Near Surface at Warrentinna Project, NE Tasmania
HIGHLIGHTS:
- Multiple zones of auriferous quartz veining intersected in Flynn’s maiden diamond drilling program at the Warrentinna Project in NE Tasmania.
- Drilling program consisted of 2 drillholes for a total of 357m with best intercepts reported in hole DNDD001:
- DNDD001:
- 7.2m @ 2.5g/t Au from 68.9m, including
- 2.1m @ 7.0g/t Au from 75.1m, and
- 4.8m @ 1.2g/t Au from 92.0m, including
- 0.3m @ 5.6g/t Au from 94.6m
- 7.2m @ 2.5g/t Au from 68.9m, including
- DNDD001:
- The program confirms highly prospective orogenic-style gold mineralisation which coincides with historical mine workings over a largely untested 6km-long corridor with potential for near- surface gold resources.
- Drillholes also yielded valuable structural data which will be used for targeting in future campaigns that will aim to prove mineralisation along strike from historical drill results, which include:
- WTR013:
- 5.0m @ 28.93g/t Au from 36.0m, including
- 1.0m @ 103.25g/t Au from 37.0m
- 5.0m @ 28.93g/t Au from 36.0m, including
- 2019WTD001:
- 21.7m @ 3.3g/t Au from 9.3m, including
- 2.2m @ 12.0g/t Au from 10.8m
- 21.7m @ 3.3g/t Au from 9.3m, including
- 2019WTD002:
- 11.7m @ 2.8g/t Au from 115m.
- WTR013:
Managing Director and CEO, Neil Marston commented:
“Our maiden diamond drilling program has confirmed that the Warrentinna Project has potential for gold resources near surface and proven to extend the depth of mineralisation to greater than 100 metres.
“Previous explorers have produced some remarkable high grades at Warrentinna. Our drilling has confirmed the existence of multiple zones of gold mineralisation and added a structural context which will be used in targeting for future drilling campaigns.
“The Warrentinna goldfield is defined by shallow historic workings over a strike length of 6km, and with this campaign targeting gold mineralisation in the north of the goldfield, the remainder is largely untested.”
Warrentinna Gold Project
The Warrentinna Project (EL30/2004) is located in northeast Tasmania, 40km northwest of Flynn’s Golden Ridge Project (see Figure 1). The tenement was acquired from Greatland Gold plc (LSE: GGP, “Greatland”) in June 20231.
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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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Flynn Gold
Overview
Flynn Gold Limited (ASX: FG1) is an Australian mineral exploration company with a portfolio of projects in Tasmania and Western Australia.
Tasmania is home to several world-renowned deposits and is rich in diverse mineral resources and operating mines. The region has established mining districts, excellent infrastructure such as rail and ports, and a skilled workforce, with a stable political and regulatory environment. These features are a big positive for the company’s projects in this region.
The company has nine 100 percent owned tenements in Northeast Tasmania which are highly prospective for gold and tin/tungsten with three major projects — Golden Ridge, Portland and Warrentinna. In Northwest Tasmania, it has the Henty zinc-lead-silver and the Firetower gold and critical minerals projects.
Flynn Gold’s exploration at its Golden Ridge Project has focused on an 8-kilometre-long granodiorite-metasediment contact zone with diamond drilling programs completed at the Brilliant and Trafalgar prospects, with multiple high-grade gold vein intersections.
Moreover, the company’s first diamond drilling programs at its Warrentinna and Firetower projects have been completed with assays pending.
Apart from Tasmania, the company is building a strategic lithium and gold portfolio in Western Australia, targeting hard-rock lithium pegmatites and intrusive related gold deposits in the Pilbara region and Yilgarn Craton. Its five lithium-gold projects in Western Australia are strategically located in districts hosting large gold and lithium deposits or in regions that are relatively under-explored for lithium. Of these, three lithium-gold projects are in the Yilgarn region: Forrestania, Lake Johnston and Koolyanobbing. The remaining two lithium-gold projects are in the Pilbara region: Mt Dove and Yarrie.
Flynn’s recent acquisitions have been focused on strengthening its lithium portfolio. This includes the option agreement to purchase two exploration licences at the Parker Dome Project in Western Australia, which is considered highly prospective for lithium. In addition to this, Flynn has also increased its land position closer to the Mt Holland lithium project. Four new exploration licence applications covering approximately 20 sq. km. have been lodged with the Department of Energy, Mines, Industry Regulation and Safety.
The focus on lithium positions the company to benefit from the global transition towards clean energy. The recent COP28 summit in Dubai signaled the world's desire to move away from fossil fuels over the next few decades to address climate change. Electric vehicles are likely to remain in focus as a key solution to the climate challenges. Most of the lithium is used to make lithium-ion batteries for electric cars and mobile devices. Summarily, lithium will be in high demand given this trend.
Company Highlights
- Flynn Gold is an Australian mineral exploration company with a portfolio of gold and battery metals projects in Tasmania and Western Australia.
- In Tasmania, the company holds 12 tenements spread across 1,475 sq. km., including three main projects in Northeast Tasmania — Golden Ridge, Warrentinna and Portland — that are prospective for gold and tin. Moreover, it has two projects in Northwest Tasmania: the Henty zinc-lead-silver project and the Firetower gold-cobalt-tungsten-copper project.
- In Western Australia, Flynn holds 24 tenements across 1,140 sq. km., including lithium-gold projects in the Pilbara and Yilgarn regions. The Yilgarn region has three lithium-gold projects: Forrestania; Lake Johnston and Koolyanobbing. The Pilbara hosts two gold-lithium projects: Mt Dove and Yarrie.
- In addition to these focus areas, the company holds an option to acquire two exploration licences at Parker Dome in Western Australia, situated near the world-class Mount Holland lithium project.
- The company’s near-term focus is on its Northeast Tasmania gold portfolio due to its geological similarity to the Victorian goldfields.
- Flynn Gold’s exploration at its flagship Golden Ridge Project in NE Tasmania has focused on an 8-kilometre-long granodiorite-metasediment contact zone with diamond drilling to date intersecting multiple high-grade gold vein intervals.
- In November 2023, the company announced strong metallurgical test results from the Golden Ridge project, as exploration commenced at two other Tasmanian projects — Warrentinna and Firetower – with results pending.
- In December 2023, the company announced plans to raise $2.4 million that will help advance its exploration activities including the acquisition of the exploration licences at Parker Dome.
- The company’s senior leadership team has a proven track record in the mining sector to capitalize on the high resource potential of its projects.
Key Projects
Northeast Tasmania
The company has three main projects in northeast Tasmania — Golden Ridge, Portland and Warrentinna. The under-explored Northeast Tasmania region is interpreted to be part of the Western Lachlan Orogen, a geological extension of the rich Victorian Goldfields which boast of historical gold production of over 80 million ounces (Moz). The company’s landholding across nine 100 percent owned tenements in the region has provided it with significant potential for gold and tin discoveries.
Golden Ridge Project
Targeted for intrusive related gold system (IRGS) style mineralization, the Golden Ridge project is located 75 kilometres east of Launceston in Northeast Tasmania. Previous gold exploration at the Golden Ridge Project has been very limited with shallow historical workings located over an 8-kilometre-long granodiorite-metasediment contact zone. Flynn Gold’s exploration has focused on the Brilliant and Trafalgar prospects, with diamond drilling programs completed at both locations between June 2021 and August 2023. In addition, a limited reconnaissance RC drilling program in late 2022 to test for gold mineralisation at the Link Zone confirmed the presence of shallow gold mineralisation between the Brilliant and Trafalgar prospects, highlighting the significant gold potential of the granodiorite-metasediment contact zone.
Drilling at Trafalgar consisted of 14 holes for 5,218.3 metres with multiple vein intersections grading >100 grams per ton (g/t) gold reported. The best intersections recorded in drilling at Trafalgar were 16.8 g/t gold over 12.3 metres (from 108.7 to 121 metres), including 0.7m at 152.5 g/t gold and 23.7 g/t gold over 4 metres (from 23 to 27 metres), including a high-grade zone of 0.5 metre at 169.8 g/t gold.
Drilling completed at Trafalgar intersected high-grade gold over a strike length of 400 metres and from depths of 40 to 400 metres below surface, confirming a significant new gold discovery that is open in all directions.
Initial metallurgical tests were successfully completed in November 2023 on 26 drill samples from the Trafalgar prospect. Average gold recovery of 94.5 percent was recorded using conventional bottle roll leaching.
Portland Project
The Portland gold project covers 370 sq. kms. and comprises three adjacent tenements: Portland, Telegraph and Cameron Tin. The project falls within the region mined historically from 1870 to 1917 and has similarities to Victorian geology with high-grade “Fosterville-style” gold mineralization confirmed. Geochemical surveys and costean sampling programs at Portland confirmed the presence of anomalous gold zones. Drilling at the Grand Flaneur prospect in 2022 and the Popes prospect in 2023 have both confirmed the presence of gold mineralization.
Warrentinna Project
The Warrentinna project was acquired in 2023 from Greatland Gold plc (LSE:GGP). The Project is located in northeast Tasmania and covers an area of approximately 37 sq km immediately adjacent to Flynn’s existing Lyndhurst Project. The tenement encompasses two historic goldfields, Forester and Warrentinna. Both fields produced high-grade gold deposits in the late 1800s and early 1900s. The Warrentinna goldfield is defined by numerous historic workings and largely untested prospects over a strike length of 6 kilometres.
Initial drilling by Flynn in September/October 2023 at Warrentinna consisted of two diamond drill holes, designed to test the continuity and extension of orogenic style gold mineralisation identified in historical drilling. The holes are also designed to provide stratigraphic and structural information critical to advancing understanding of the project. Assay results are pending.
Northwest Tasmania
The company has two projects in the Northwest Tasmania region: the Henty zinc project and the Firetower project.
Henty Zinc Project
The project is a 130 sq. km land holding under two 100 percent owned exploration licences and provides the company with a dominant position in a rich base metals field with proximity to an existing zinc/lead concentrate producer (MMG’s Rosebery mine).
The Henty Project has a significant pipeline of exploration targets with the Mariposa and Grieves Siding prospects ready for resource drilling
Firetower Project
The project was acquired in 2023 from Greatland Gold plc (LSE: GGP). The project spans more than 62 sq. kms. and represents an advanced gold plus battery metals project, which includes three notable prospects: Firetower, Firetower East and Firetower West. The Firetower project lies in the highly mineralized Mt Read volcanic sequence which hosts major polymetallic base metals and gold deposits such as Hellyer and Rosebery, copper-gold deposits such as Mt Lyell (3 million tons contained copper, 3.1 Moz contained gold), and the Henty gold mine (1.64 Moz gold @ 12.5 g/t gold).
Resampling of the historic core at Firetower has confirmed the significant potential for gold and critical minerals - cobalt, tungsten and copper. The results have made it clear this project represents an exciting polymetallic opportunity. The company commenced a diamond drilling program in October 2023 to target both the gold and polymetallic minerals potential.
Western Australia
Flynn holds five gold-lithium projects in the resources-rich state of Western Australia, strategically located near large gold and lithium deposits or in regions that are relatively under-explored for lithium.
The five projects include: Mt. Dove and Yarrie in Pilbara; and Koolyanobbing, Forrestania and Lake Johnston in Yilgarn.
Mt Dove Project
Located 70 kilometres south of Port Hedland in the Pilbara region, Mt Dove comprises five granted licences covering 86.6 sq. kms. and one tenement application. The project is located near the large Hemi gold deposit (De Grey Mining, ASX:DEG) and the large lithium mines at Pilgangoora and Wodgina. The company has completed two soil sampling programs at Mt Dove, which have identified lithium and gold anomalies. The follow-up exploration, which is likely to include aircore drilling, intends to test lithium and gold anomalies identified during the soil sampling program completed in 2022 and 2023.
Yarrie Project
The Yarrie Project comprises three tenements and one application covering 424 sq. kms. Very limited historical exploration has been undertaken for lithium, gold and copper on the project. The project is highly prospective for iron ore, being close to historic mining operations and existing rail infrastructure.
Forrestania Project
The Forrestania project consists of one exploration licence and five exploration licence applications over a 320 sq. km. area. It is located near the Mt Holland lithium deposit (Wesfarmers (ASX:WES)/ SQM (NYSE:SQM) JV) and high-grade nickel deposits, Flying Fox and Maggie Hays.
Lake Johnston Project
Lake Johnston consists of five exploration licenses over a 116 sq. km. area, and is located near the Burmeister lithium discovery (TG Metals (ASX:TG6)) and the Medcalf, Lake Percy and Mt Day Lithium projects.
Koolyanobbing Project
Koolyanobbing comprises one exploration licence and two applications targeting gold and lithium mineralization over an 82 sq. km. area in the Marda-Diemals greenstone belt.
Parker Dome Project
In addition to the above-mentioned projects, Flynn has secured an option agreement to purchase two exploration licences at the Parker Dome project in Western Australia, which is considered highly prospective for lithium. The Parker Dome project covers 42 sq. kms. and is situated 50 kilometres north of the world-class Mount Holland lithium project in Western Australia. The licences are fully permitted allowing for an immediate commencement of exploration and drilling. The company expects to commence drilling at Parker Dome in early 2024.
Management Team
Clive Duncan – Non-executive Chair
Clive Duncan has over four decades of experience at big box hardware chain Bunnings, including as chief operating officer and company director. He has rich experience in corporate and business development, including mergers and acquisitions, business integrations, corporate government, strategy development and marketing. He has completed post-graduate studies at Harvard University and London Business School and is a member of the Australian Institute of Company Directors. He is a long-term significant shareholder of Flynn Gold’s predecessor companies.
Neil Marston – Chief Executive Officer and Managing Director
Neil Marston was appointed managing director in May 2023 and has been the company CEO since August 2022. He has more than 30 years of experience in the mining and minerals exploration sector and is a proven ASX-listed company leader, with a strong governance and corporate finance background. Previously, he held several senior roles including managing director at Bryah Resources (ASX:BYH) and Horseshoe Metals (ASX:HOR).
Sam Garrett – Technical Director
Sam Garrett has more than 30 years of exploration management, project assessment and operational experience with multinational and junior mining and exploration companies, including Phelps Dodge and Cyprus Gold. He has a background in copper and gold exploration with strong exposure to iron ore, base metals and specialist commodities. He is associated with discoveries at Mt Elliott (copper), Havieron (copper-gold), and Tujuh Bukit (gold). Moreover, he co-founded Flynn Gold and its predecessor Pacific Trends Resources.
John Forwood – Non-executive Director
John Forwood is a director and chief investment officer of Lowell Resources Funds Management (LRFM). He is qualified as a lawyer and geologist and has more than 20 years of resources financing experience, including with ASX-listed Lowell Resources Trust (ASX:LRT), as a director of RMB Resources, and as manager of Telluride Investment Trust.
This article was written in collaboration with Couloir Capital.
Up to 67g/t Au Intersected in Drilling at Trafalgar, NE Tasmania
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide the first results from its latest diamond drilling activities at the Company’s 100% owned Golden Ridge Project located in Northeast Tasmania (Figure 1).
Highlights
- Assays received from the first hole in the diamond drilling program underway at the Trafalgar Prospect, Golden Ridge, including 3 intersections returning >1 ounce/tonne gold
- Multiple high-grade gold veins intersected in drill hole TFDD016, including:
- 0.4m @ 67.6g/t Au within 1.3m @ 21.9g/t Au from 248.7m;
- 0.3m @ 39.2g/t Au from 243.2m;
- 0.5m @ 35.1g/t Au within 1.4m @ 12.7g/t Au from 164.6m (Trafalgar Main Vein);
- 0.3m @ 19.0g/t Au within 0.65m @ 10.5g/t Au from 187.55m (Magazine Vein);
- 0.3m @ 12.3g/t Au within 1.2m @ 3.5g/t Au from 233.0m;
- 0.4m @ 10.8g/t Au from 135.2m.
- Drilling confirms continuity of multiple sub-parallel high-grade gold veins at Trafalgar
- Drilling is ongoing with TFDD017 recently completed and TFDD018 underway – further assays pending for TFDD016 and later holes
- Previously reported drilling results from Trafalgar 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
- TFDD015:
- 1.1m @ 51.3g/t Au, incl. 0.4m @ 137.8g/t Au from 353.9m
- TFD001:
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/oPBYlr
Managing Director and CEO, Neil Marston commented,
“These are impressive early results from the first hole of our drilling campaign at the Trafalgar Prospect at Golden Ridge in Northeast Tasmania, adding further confidence to our understanding of Trafalgar as a multiple high-grade vein, intrusion-related gold deposit.
“Earlier this year our exploration model for Trafalgar was refined and updated. Based on the new model this first drill hole was designed to test for mineralisation beneath the historic Trafalgar mine, and up dip of previously intersected high-grade intervals. We have intersected high-grade mineralisation in the target zones, which increases confidence in our work and the ability to understand this high-grade gold system.”
“We look forward to releasing further drilling results as this program progresses over the coming weeks.”
Figure 1 - Location of Flynn Gold tenements in NE Tasmania.
Trafalgar Prospect - Phase 3 Drilling
Phase 3 drilling commenced at the Trafalgar prospect in mid-April 2024. The planned 1,500m diamond drill program will initially comprise infill and extension drilling targeting down-dip and along-strike extensions to previously drilled high-grade gold intercepts. Initial holes are designed as infill and close-spaced step-outs around the previous wide-spaced drilling (100m average drill hole spacing) and will be used to test and refine the current vein model and inform targeting of further step-out strike and depth extension drilling.
The first hole, TFDD016, was drilled to 355.9m and was designed to in-fill widely-spaced drilling and test all 3 of the main veins (Trafalgar Main, Magazine, and Trafalgar South veins) and associated splays identified in Flynn’s recent modelled interpretation of the deposit
Assay results have been received for TFDD016 from 18.0m to 274.0m depth with the remaining samples (274.0-355.9m) at the laboratory.
TFDD016 was drilled into granodiorite, drilling towards the south under historical workings. As predicted, multiple zones with visible signs of mineralisation, including visible gold, were intersected in the hole. Significant intercepts are shown in Figure 2 and Figure 3 with full drilling details shown in Tables 1 & 2.
Figure 2 - Trafalgar Prospect collar location plan with interpreted mineralised veins projected to [surface].
The second hole, TFDD017, was completed last week with a final depth of 248.4m. It was also designed to test all the main veins (Trafalgar Main, Magazine, and Trafalgar South veins) (see Figure 2). This hole is currently being logged and sampled.
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.
64g/t Au in High-Grade Veins at Golden Ridge Adit, NE Tasmania
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to report high grade gold assays have been recorded from a recent field mapping and sampling campaign at the Link Zone prospect at its 100% owned Golden Ridge Project in Northeast Tasmania (see Figure 6).
Highlights
- Mapping and vein sampling within the historic Golden Ridge adit has identified a significant new zone of high-grade gold mineralisation in the Link Zone prospect at Golden Ridge in NE Tasmania
- Underground grab sampling of mineralised veins in the adit recorded high- grade gold assays including 64.4g/t Au, 37.6g/t Au and 15.9g/t Au
- The Link Zone prospect is located between the Trafalgar and Brilliant prospects, with the 3 prospects now defining a corridor of high-grade gold mineralisation with a potential strike length of 2.5km and a vertical extent of at least 500m as proven by drilling at Brilliant and Trafalgar
- Mineralisation in the newly identified Golden Ridge adit occurs as multiple sub-parallel steeply-dipping gold-rich quartz-sulphide veins visible over a zone 20-30m in width and correlates with similar veins mapped in historic trenches
- Mineralised veins identified by sampling present new drill targets with potential to significantly extend the existing Trafalgar-Brilliant gold system.
- Phase 3 diamond drilling at Trafalgar is underway with samples from the first hole currently at the laboratory. The drill program is designed to in-fill test the high-grade gold zones discovered from earlier programs and test extensions to the known mineralisation.
- Flynn’s exploration is targeting a gold mineralised granodiorite- metasediment contact which has grown to over 9km in length
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/4r8dWr
The Link Zone is located between the Trafalgar and Brilliant prospects along the Golden Ridge granodiorite contact. Previous diamond drilling at Trafalgar and Brilliant has returned outstanding results with multiple intersections over 100g/t Au recorded at the Trafalgar prospect, which is currently being followed up with an active diamond drillhole campaign1.
Managing Director & CEO, Neil Marston commenting on the results said:
“Our confidence in Golden Ridge as an extensive, high grade intrusive-related gold system continues to grow with these Link Zone results confirming that high grade mineralisation exists within an increasingly well-defined corridor that has the potential to link the Brilliant and Trafalgar prospects over a strike length of 2.5km. Whilst drilling is ongoing at Trafalgar our exploration team is actively exploring to further extend the gold system at Golden Ridge which we expect will lead to identifying additional drilling targets similar to the Link Zone.”
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.
March 2024 Quarterly Activities Report and Appendix 5B
Highlights
Exploration – Golden Ridge Project, NE Tasmania
- Assay results from soil sampling completed during the quarter at Golden Ridge identified new prospect targets and now define anomalous gold in soils over a combined strike length of at least 9km along the granodiorite contact zone, further enhancing the potential large scale of the overall Golden Ridge target deposit
- Infill and extension soil sampling is ongoing across the Golden Ridge project area
- Initial geological/vein modelling of mineralisation at Trafalgar Prospect indicates the deposit comprises multiple sub-parallel high-grade veins and associated splays, open along strike and down dip
- An initial 1,500m drill program (Phase 3) planned at the Trafalgar prospect comprising infill and extension drilling targeting down-dip and along-strike extensions to previous high- grade gold intercepts, includes multiple intersections grading >100g/t Au
- Post quarter, Phase 3 drilling commenced at Trafalgar Prospect
Exploration – Firetower Project, NW Tasmania
- Final assay results from recent 4-hole diamond drilling program received
- All holes intersected significant mineralised intervals, with a best result of:
- 2019FTD007E:
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3, 0.33% Cu from 132.5m
- 2019FTD007E:
- Modelling of updated drilling data indicated key structural controls to polymetallic mineralisation zones with depth and strike extension target zones recognised
- Detailed surface mapping and sampling program initiated over priority target areas
Exploration – Parker Dome Project, WA
- Soil sampling outlined multiple, large-scale lithium anomalies of up to 187ppm Li2O at the recently optioned Parker Dome project
- Lithium anomalies extend up to 2,300m length and 900m width
Exploration – Lake Johnston Project, WA
- Soil sampling outlined a large, high priority lithium anomaly
- Priority Target 1 presents as a large scale (4km x 1km), strong anomaly with 23 samples returning assay results over 100ppm Li2O
Corporate
- Share Purchase Plan and Tranche 2 Placement completed raising $1.1 million
- Post quarter, one-for-two Renounceable Rights Issue, partially underwritten to $750,000 and priced at 3 cents per new share announced to raise up to $2.5 million
- The Company’s cash position at 31 March 2024 was $1.53 million
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.
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.
Polymetallic Strike and Depth Potential Identified at Firetower Project
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide an update on its exploration activities at its 100%-owned Firetower Project located in northwest Tasmania.
Highlights
- Final assay results from recent 4-hole diamond drilling program at the Firetower polymetallic (Au-Co-W-Cu) prospect have been received and reviewed
- All holes intercepted significant mineralised intervals, with a best result (previously reported) of:
- 2019FTD007E:
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3, 0.33% Cu from 132.5m
- 17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0, including:
- 2019FTD007E:
- Modelling of updated drilling data indicated key structural controls to polymetallic mineralisation zones at Firetower
- Depth and strike extension target zones recognised
- Detailed surface mapping and sampling program has commenced over priority target areas
“The drilling program was successful in testing for depth extensions of the main mineralised zone and providing key geological and structural information which greatly improves our understanding of the controls to high-grade mineralisation at the Firetower project.
“Our initial review of the project generated depth extension targets that we started testing with an initial 4-hole drill program in November 2023.
“Previous drilling at Firetower has been generally shallow across a limited strike length, with very few holes extending beyond 100m from the surface. Several historic drill holes reportedly ended in mineralisation.
“These early results demonstrate the continuity of polymetallic mineralisation and highlight the significant potential for high-grade mineralisation to continue at depth and along strike.”
Firetower Drilling
The Company completed 496m of diamond drilling at the Firetower prospect in December 2023 with extension tails to three historical diamond holes and one new hole drilled. The drilling followed a due diligence period of historical data validation and review, drill core resampling, drill program planning, environmental surveys, community and stakeholder liaison, access clearance and statutory work program permitting carried out by the Company.
The short drill program was designed to test for depth/strike extensions to historically drilled polymetallic (Au-Co-W-Cu) mineralisation, and to provide stratigraphic and structural information to assist geological evaluation of controls to high-grade mineralisation. All assay results have now been received from the drilling. See Figures 1 & 2 and Appendix 1 for details of the latest drilling.
As previously reported1, extension drill hole 2019FTD007E was drilled for 83.2m from 98.7m – 181.9m to test for the continuation of gold-cobalt-tungsten-copper mineralisation at depth and along strike from hole 2019FTD006 (9.0m @ 2.56g/t Au, 0.25% Co, 0.32% WO3, 0.1% Cu from 99.0m, including 3.0m @ 8.59g/t Au, 0.29% Co, 0.83% WO3, 0.21% Cu from 105m).
Hole 2019FTD007E intersected the thickest down-hole zone of polymetallic mineralisation ever drilled at Firetower, with:
- 17m @ 2.31g/t Au, 0.16% Co, 0.38% WO3 and 0.16% Cu from 121m; including:
- 1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3 and 0.14% Cu from 121m and
- 5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3 and 0.33% Cu from 132.5m.
Extension drill hole 2019FTD004E was drilled for 121.1m from 106m – 227.1m. Highlights from this extended hole include (as previously reported):
- 9.1m @ 0.85g/t Au, 0.1% Co, 0.09% WO3 and 0.15% Cu, from 111.9m, including
- 2.4m @ 1.7g/t Au, 0.15% Co, 0.26% WO3 and 0.19% Cu from 118.6m.
Extension drill hole 2019FTD005E was drilled for 76.9m from 120.5m – 197.4m. Best intercept in the hole was:
- 2.4m @ 1.37g/t Au, 0.15% Co, 0.35% WO3, 0.04% Cu from 141.0m.
Hole FT-2023-001, drilled from surface to a down-hole depth of 214.8m, intercepted a best polymetallic intercept associated with a discrete zone of chalcopyrite-rich sulphide breccia veining of:
- 0.75m @ 5.33g/t Au, 2.65% Cu, 0.005% Co, 0.05% WO3 from 159.75m.
Firetower Geological Modelling
The results of Flynn’s drilling are highly encouraging and confirm that follow-up exploration is warranted at Firetower. Modelling of updated drill hole structural and stratigraphic data (including 3D modelling) is in progress to evaluate controls to the high-grade polymetallic Au-Co-W-Cu mineralisation at Firetower and optimise targets for potential follow-up drilling.
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.
Sams Creek and Reefton Exploration Update
Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Sams Creek and Reefton Projects.
Highlights
Sams Creek Gold Project
- Results received for the last two of four “scouting” holes drilled at the Anvil Zone.
- SCDDH107 intersected 22m @ 1g/t Au with higher grade intervals of 2m @ 2.91g/t from 141m and 1.2m @ 8.3g/t from 161m on the hanging wall and footwall respectively.
- SCDDH106 intersected a 35.4m thick dyke which was extensively altered. A 4m section in the centre of the dyke returned 4m @ 1.32g/t Au from 124m.
- An Ionic Leach (IL) soil survey identified a number of targets both around and inside two large circular structures.
- The circular structure anomalies have been divided into five dyke and six porphyry targets.
- The dyke targets have an Au-As signature, and the porphyry targets have an Au-Cu-REE signature.
- The IL survey has now been extended beyond the boundaries of the circular structures so potential mineralisation can be fully evaluated. Results are expected in August.
Reefton Gold Antimony Project
- Four additional diamond holes were drilled in the Auld Creek’s Bonanza East Shoot following the exceptional intersection in ACDDH011, which intersected an estimated true thickness of 3m @ 4.1g/t Au and 7% Sb.
- ACDDH015 and ACDDH016 were drilled 50m to the north and intersected true widths of 6m @ 5.3g/t Au, 14.9% Sb and 10m @ 7.2g/t Au, 0.3% Sb.
- ACDDH020 and ACDDH021 were drilled a further 100m to the north and intersected the footwall of the shoot, indicating that the Bonanza East Shoot plunges to the south parallel to the Fraternal Shoot.
- The Bonanza East maiden MRE and an update on the Fraternal MRE will be completed in August.
Siren Managing Director and CEO, Victor Rajasooriar commented:
“The drilling results from the recent scouting holes targeting the Anvil prospect have confirmed similar alternation to the Main Zone, which hosts the 824koz @ 2.8g/t Au Resource. Additionally, the knowledge base of the geology at Sams Creek is growing with the expanded Ionic Leach survey cross referenced with the Lidar topography analysis, with results expected in August. This should give us additional information to more accurately target the potential Gold-Copper porphyry targets and commence a diamond drilling program later this year at Sams Creek.
In addition, the drilling results from Auld Creek have returned some strong results and we look forward to updating the Resource in August.”
Click here for the full ASX Release
This article includes content from Siren 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.
Rogan Josh In-fill Completed Ahead of Mineral Resource Estimation
Remaining assay results from RC drilling at Rogan Josh received. Assay results for Kamperman RC drilling pending. Maiden Mineral Resource Estimates for Rogan Josh and Kamperman, and an updated MRE for Think Big, due in September Quarter.
Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to provide assay results from the remaining 16 holes (940 metres) of a 32-hole RC drilling program undertaken at the Rogan Josh Prospect, part of the Company’s 100%-owned Feysville Gold Project (Feysville), located 14km south of Kalgoorlie in Western Australia (Figure 1).
- All outstanding assay results from the Rogan Josh in-fill program now received, with results reported for the final 16 holes for 940 metres.
- Best results from the Rogan Josh in-fill program include:
- 8 metres at 1.35g/t Au from 55 metres in FRC325;
- 8 metres at 1.28g/t Au from 43 metres in FRC287;
- 5 metres at 1.79g/t Au from 32 metres in FRC326;
- 3 metres at 1.89g/t Au from 57 metres in FRC286;
- 4 metres at 1.31g/t Au from 54 metres in FRC285;
- 4 metres at 1.57g/t Au from 48 metres in FRC330; and
- 12 metres at 0.72g/t Au from 13 metres in FRC329.
- Cube Consulting currently finalising maiden Mineral Resource Estimate (MRE) for Rogan Josh and a revised MRE for Think Big.
- A 26-hole (2,808 metre) RC drill program in-filling the Kamperman prospect has been completed, with assay results pending.
- Following receipt of the Kamperman assay results, a maiden Kamperman MRE will be prepared, with expected delivery of MRE’s for Rogan Josh, Think Big and Kamperman due in the September Quarter 2024.
Astral Resources’ Managing Director Marc Ducler said: “Recent exploration activity at Feysville demonstrated the potential of the Project to provide multiple gold deposits capable of producing satellite feed for the 2.5mtpa Mandilla process plant contemplated in the September 2023 Scoping Study 1.
“The recently completed drill programs will provide critical data into Mineral Resource Estimates for the Feysville Project, being Think Big, Rogan Josh and Kamperman. The previously reported Think Big MRE of 116,000 oz was unconstrained (not reported within an optimised pit shell), so it is expected a small decrease will be incurred when applying open pit constraints as is best practice. On the upside, we are very confident that inaugural contributions from Kamperman and Rogan Josh will see a material increase in the aggregate Mineral Resources at Feysville following the positive exploration results reported, primarily at Kamperman, over the last 18 months or so.
“The recent success of a reconnaissance drill program in identifying a potential Kamperman-style analogue, coupled with an extension to gold mineralisation associated with the regional-scale Ethereal Shear, indicates there is significant potential for further growth at Feysville.
“Preparation works are now underway for a 14,000 metre RC in-fill program at the Mandilla Gold Project’s cornerstone Theia deposit. This will support an MRE update for Mandilla ahead of detailed mine design for the Mandilla Pre-Feasibility Study.”
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This article includes content from Astral Resources, 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.
Group Mineral Resources Statement
Following the successful completion of the merger between Horizon Minerals Limited (ASX: HRZ) and Greenstone Resources Limited (formerly ASX: GSR), additional resource model work and reviews, the Company is pleased to provide a consolidated statement of group Mineral Resources as of 30 June 2024.
HIGHLIGHTS
- Mineral Resources currently stand at:
- 1.8Moz gold 1
- 20.2Moz silver, 104kt zinc 2
- 283kt nickel, 40.5kt cobalt and 296.2kt manganese (50% owned) 2
- Mineral Resources are underpinned by the large cornerstone Boorara and Burbanks assets
- Updated Mineral Resource Estimates (MRE) include a maiden MRE for Pinner, an update for Monument and a revision for Boorara which is currently under an Ore Reserve Study (ORS) from AMC Consultants
- Changes to the gold MREs include:
- Addition of 297,650oz from Burbanks open pit 3
- Addition of 167,920oz from Burbanks underground 3
- Addition of 13,000oz from Pinner 4
- Addition of 3,000oz from Monument, and 4
- Reduction of 20,240oz from Boorara 5
- Large Mineral Resource base and ongoing studies pave the way for a development profile aiming at sustained gold production and continuous cashflows
Commenting on the Group MRE upgrade, Managing Director and CEO Mr Grant Haywood said:
“It is very pleasing to have the Burbanks and Phillips Find assets under single ownership with Horizon’s complementary and extensive project base. Together this provides 1.8 million ounce gold portfolio, which is a great platform to implement our near term strategy of cashflow from operations and further growth into the medium and long term”.
Click here for the full ASX Release
This article includes content from Horizon Minerals, 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.
Quimbaya Gold Set for Drilling at New Segovia Property in Colombia
Quimbaya Gold (CSE:QIM,OTCQB:QIMGF)has begun exploration work and is now gearing up for a 3,000 meter drilling program at its newly acquired property in Segovia, Colombia, according to Alexandre Boivin, the company’s president and CEO.
The 2,000 hectare mining property, prospective for gold and silver, is near Aris Mining’s (TSX:ARIS,NYSEAMERICAN:ARMN) Segovia operations in Antioquia, Colombia. The region is well known for its high-grade gold veins, making the acquisition highly significant for Quimbaya’s growth trajectory.
“The goal in mining and exploration, like a company like Quimbaya, is basically to define resources and reserves. But even better than that, it's to define it close to a big producer because we can see already a proven project,” Boivin said.
Quimbaya has already begun advanced geochemical analysis, including soil sampling and MMI (mobile metal ion) technology. This is especially important in regions like Segovia, where the "more you go at depth, the more the high grade is," Boivin stated. This method aims to identify high-grade drill targets at depth, making the exploration process both efficient and effective.
The company has outlined a comprehensive drilling program featuring around 3,000 meters. "We're reviewing the targets and making sure we're getting some conversation or internal conversations to start drilling as soon as possible," Boivin noted.
Read the full interview with Alexandre Boivin above.
Disclaimer: This interview is sponsored by Quimbaya Gold (CSE:QIM,OTCQB:QIMGF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Quimbaya Gold in order to help investors learn more about the company. Quimbaya Goldis a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Quimbaya Gold and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
June 2024 Quarterly Cashflow Report
Impact Minerals Limited’s (ASX:IPT) has released its Quarterly Cash Flow Report.
Click here for the full ASX Release
This article includes content from Impact Minerals, 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.
June 2024 Quarterly Report
HIGHLIGHTS
1. Lake Hope, WA (IPT 80%)
- Work continued on the Pre-Feasibility Study (PFS) which is on schedule for completion in Q4 2024.
- Key appointments made:
Indigenous Services Australia (ISA) appointed to establish a long-term relationship with the Ngadju group.
David English, who led the feasibility and mine development work on Sandfire Resources’ De Grussa and Sirius Resources’ Nova-Bollinger projects appointed to lead the Pre-Feasibility Study at Lake Hope. - Baseline environmental surveys indicate no Threatened or Priority species of flora and fauna occur on the Lake Hope salt pan.
- Scope 1 and Scope 2 CO2 emissions per tonne of HPA produced are targeted to be competitive globally, with a strategy for achieving zero carbon HPA defined.
- Metallurgical test work continued for both the Sulphate and Low- Temperature Leach processes.
- Initial discussions commenced with the Ngadju Aboriginal group to support a Mining Lease application.
- Drill results from neighbouring lakes received and being interpreted.
2. Arkun-Beau, WA (IPT 100%)
- Co-funding of up to $180,000 has been awarded under the WA Government’s EIS scheme to drill the Caligula copper target, identified through soil geochemistry and Mobile Magneto-Telluric (MMT) data.
- Infill and extensional soil geochemistry surveys have been completed to define potential drill targets, with assay results expected this Quarter.
- Drilling completed at the Hyperion Rare Earth Element (REE) Prospect.
- Metallurgical leach test-work received post-Quarter end with poor recoveries as expected.
3. Commonwealth Project (IPT 100%)
- Burrendong Minerals continues to progress towards an IPO in Q4 2024. Various submissions to ASX for approval to list are in progress.
4. Other Projects
- Broken Hill: data synthesis and interpretation in progress on all data collected during the BHP Xplor Programme. Some early-stage discussions are in progress with other groups with a view to a possible joint venture arrangement.
- Doonia: assays received and being interpreted.
- Southwest Regional: The early stage Dinninup, Martup Hills and Mineral Hill projects were relinquished due to an increasing focus on Lake Hope.
5. Corporate/Finance
- Strategic A$3 million placement mostly supported by major shareholders.
- In addition, $725,000 in funds were received from the exercise of listed options (IPTOB).
- A FY23 Research and Development Rebate of $395,000 was received during the Quarter.
Click here for the full ASX Release
This article includes content from Impact Minerals, 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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