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Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce the recommencement of drilling activities at the Company’s 100%-owned Golden Ridge Project located in North-east Tasmania.
Highlights
- First ever diamond drilling commenced at the Link Zone gold prospect within the Golden Ridge Project in NE Tasmania, where the Company is targeting large-scale IRGS type gold mineralisation
- Two diamond drill holes planned, totalling 400m, testing for extensions to high-grade gold veins sampled in the historical Golden Ridge Adit between the Brilliant and Trafalgar prospects
- Previously reported underground sampling in the adit recorded high- grade gold assays including 64.4g/t Au, 37.6g/t Au and 15.9g/t Au
- Flynn Gold to receive up to $70,000 under the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI) to co-fund this drilling program
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/lyazve
This new drilling program will test beneath the historical Golden Ridge Adit, where recent underground sampling of veins recorded results of up to 64.4g/t gold1. The adit is located in the Link Zone prospect area, situated between the Brilliant and Trafalgar prospects at Golden Ridge.
Flynn Gold Managing Director and CEO, Neil Marston commented:
“We are delighted to have commenced our latest drilling program at the Golden Ridge Project in north-east Tasmania.
“This drilling program, which is co-funded under the State Government’s Exploration Drilling Grant Initiative, will see Flynn Gold drilling at the Link Zone beneath the historic Golden Ridge adit, where sampling of mineralised veins earlier this year yielded grades of up to 64 g/t gold.
“This diamond drill program is the first to test this adit, which lies between the historic Brilliant and Trafalgar mines – where we have successfully focused our drilling to date.”
Golden Ridge – Project Background
The Company’s flagship Golden Ridge Project is situated within EL17/2018 in North-east Tasmania (see Figure 1).
Figure 1 – Location of Flynn Gold tenements in NE Tasmania.
Exploration by the Company at Golden Ridge has identified extensive intrusive-related type gold mineralisation (IRGS) extending over a 9km-long zone along the southern contact margin of the Golden Ridge Granodiorite and enclosing meta-sediments (see Figure 2).
The Company’s ongoing work at Golden Ridge is continuing to identify and test multiple exploration targets, confirming the potential for a large-scale gold discovery.
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.
FG1:AU
Fortune Bay: Maximizing Shareholder Value in Gold and Uranium
Fortune Bay (TSV:FOR) is a gold developer-explorer focused on unlocking value at the steepest part of the Lassonde Curve. The company combines a de-risked Canadian gold project with transformational discovery potential in Mexico, while also exploring partner-funded uranium assets.
Backed by strong community partnerships and a disciplined approach, Fortune Bay’s share structure positions it for multiple near-term catalysts as capital returns to quality juniors.
The Goldfields project in Saskatchewan, Canada, is situated in a top-tier mining jurisdiction with road access, proximity to hydropower, historical infrastructure, and advanced permitting groundwork. The 2022 PEA outlined average production of 101 koz/yr over 8.3 years, with C$234 million initial capex and life-of-mine AISC of US$889/oz (base case US$1,650/oz), showing strong sensitivity to higher gold prices. In 2025, the company engaged Ausenco for an updated PEA and commenced permitting to support future production — both initiatives are now underway.
Company Highlights
- Cycle-smart model: Advancing projects through discovery, resource expansion and early-stage development, then monetizing before the capital-intensive build phase.
- Flagship development-ready gold asset in Saskatchewan, Canada: Goldfields project with open-pit 0.98 million ounce (Moz) indicated @ 1.31 grams per ton (g/t) gold and 0.21 Moz inferred @ 0.92 g/t gold; 2022 PEA shows robust economics; a 2025 PEA update is underway alongside permitting and existing infrastructure reducing risk and timelines.
- Poma Rosa Project (Mexico): Historical gold resource at Campamento (1.04 Moz measured and indicated; 0.70 Moz inferred) sitting atop an untested porphyry system – offering both near-term ounces and discovery blue-sky; community re-engagement progressing to enable exploration restart. Historical estimate, not treated as current under NI 43-101.
- Uranium optionality, non-dilutive: Advancing Murmac & Strike (optioned to Aero Energy) and The Woods (optioned to Neu Horizon) under partner capital while Fortune Bay remains operator, leveraging uranium expertise, offsetting overhead and preserving discovery upside and exposure to uranium market tailwinds.
- Strong leadership: Led by discovery-driven geologists and capital-markets veterans with a track record of building and monetizing companies.
This Fortune Bay profile is part of a paid investor education campaign.*
Click here to connect with Fortune Bay (TSXV:FOR) to receive an Investor Presentation
Fortune Bay
Investor Insight
A cycle-aware gold developer-explorer focused on value creation at the steepest part of the Lassonde Curve – pairing a de-risked Canadian gold project with transformational discovery potential in Mexico, and overlaying partner-funded uranium exposure .
Advancing community partnerships in both jurisdictions underpin the strategy, ensuring responsible advancement and alignment with stakeholders.
With a tight share structure and disciplined approach, Fortune Bay is positioned for multiple near-term catalysts as capital flows back into quality juniors.
Overview
Fortune Bay (TSXV:FOR,FWB:5QN,OTCQB:FTBYF) is a technically driven gold exploration and development company whose strategy is to create value at the steepest part of the Lassonde Curve. The company advances assets through discovery, resource expansion and early-stage development, then seeks monetization routes (sales, JV buyouts, M&A, royalties or equity) before the project enters capital-intensive build phases. This cycle-aware approach aims to maximize per-share value while minimizing dilution.
The current portfolio spans two 100-percent-owned gold projects – Goldfields in Saskatchewan, Canada, and Poma Rosa (formerly Ixhuatán) in Chiapas, Mexico. These projects are complemented by three uranium assets in Saskatchewan – Murmac, Strike and The Woods – that are being advanced under partner funding.
Overall, Fortune Bay’s business strategy blends a de-risked development asset (Goldfields) with transformational discovery potential (Poma Rosa), and non-dilutive uranium exposure, positioning the company for multiple catalysts and potential re-rating as market capital flows into quality juniors.
Company Highlights
- Cycle-smart model: Advancing projects through discovery, resource expansion and early-stage development, then monetizing before the capital-intensive build phase.
- Flagship development-ready gold asset in Saskatchewan, Canada: Goldfields project with open-pit 0.98 million ounce (Moz) indicated @ 1.31 grams per ton (g/t) gold and 0.21 Moz inferred @ 0.92 g/t gold; 2022 PEA shows robust economics; a 2025 PEA update is underway alongside permitting and existing infrastructure reducing risk and timelines.
- Poma Rosa Project (Mexico): Historical gold resource at Campamento (1.04 Moz measured and indicated; 0.70 Moz inferred) sitting atop an untested porphyry system – offering both near-term ounces and discovery blue-sky; community re-engagement progressing to enable exploration restart. Historical estimate, not treated as current under NI 43-101.
- Uranium optionality, non-dilutive: Advancing Murmac & Strike (optioned to Aero Energy) and The Woods (optioned to Neu Horizon) under partner capital while Fortune Bay remains operator, leveraging uranium expertise, offsetting overhead and preserving discovery upside and exposure to uranium market tailwinds.
- Strong leadership: Led by discovery-driven geologists and capital-markets veterans with a track record of building and monetizing companies.
Key Projects
Goldfields Project
Located in Saskatchewan, Canada, Goldfields sits in one of the world’s top mining jurisdictions with road access, nearby hydropower, historical mining infrastructure and well-advanced permitting groundwork. The project’s 2022 preliminary economic assessment (PEA) outlined 101 koz/yr average production over 8.3 years with C$234 million initial capex and life-of-mine all-in sustaining cost of US$889/oz (base case US$1,650/oz), with strong sensitivity to higher gold prices. In 2025, the company engaged Ausenco to deliver an updated PEA and commenced permitting activities to support future production – both initiatives are currently underway.
Open-pit constrained resources at the Box and Athona deposits total 0.98 Moz indicated and 0.21 Moz inferred, reconciling closely with historical production. Beyond the current mine plan, Fortune Bay sees resource growth potential at depth, at Athona and across several shallow discovery targets (Frontier Mine Granite, Golden Pond, Triangle and Goldfields Syncline).
Poma Rosa Gold-Copper Project
In Chiapas, Mexico, Poma Rosa hosts the Campamento epithermal gold-silver system with a historical resource of 1.04 Moz gold, measured and indicated, and 0.70 Moz gold inferred, and sits above a large, under-evaluated copper-gold porphyry system evidenced by broad mineralized intercepts, including 601.4 m @ 0.3 percent copper, 0.7 g/t gold and 2.7 g/t silver at Cerro La Mina, and multiple target areas across the tenement.
Fortune Bay is re-establishing community relationships to enable exploration agreements and a restart of field programs, with a pathway that includes updating the historical resource to current NI 43-101 standards and testing porphyry/skarn targets. The Campamento estimate is historical and not treated as current.
Uranium Portfolio
The Murmac and Strike projects are optioned to Aero Energy, while The Woods is optioned to Neu Horizon. Together, they cover more than 60,000 hectares on and near the Athabasca Basin’s northern rim, targeting shallow, basement-hosted high-grade deposits. Drilling at Murmac/Strike has confirmed Athabasca-style mineralization with multiple shallow uranium intercepts. Meanwhile, The Woods offers district-scale potential along the Grease River Shear Zone with extreme surface/lake-sediment uranium anomalism. Fortune Bay remains the operator for these assets, while partners fund exploration, generating non-dilutive income and preserving discovery leverage.
Management Team
Wade Dawe – Executive Chairman
Wade Dawe is an accomplished entrepreneur, financier and investor . He has founded or co-founded a number of successful companies, including Keeper Resources, which was sold for $51.6 million in 2008, and Brigus Gold, which was acquired by Primero Mining in 2014 in an all-share deal valued at $351 million. Dawe is currently a director of TSX-listed Pivot Technology Solutions and of TSXV-listed kneat.com. He holds a Bachelor of Commerce degree from Memorial University (MUN), where he serves on the Advisory Board to the Faculty of Business Administration.
Dale Verran – Chief Executive Officer
Dale Verran is an exploration geologist and mining executive with over 25 years of international experience. He has a track-record of successful project generation, discovery and project advancement, in both Africa and Canada. Prior to joining Fortune Bay, Verran served as vice-president, exploration for Denison Mines, where he was involved in the discovery of over 70 million pounds of U3O8. He is a former executive technical director for a large independent exploration group operating in Africa, Remote Exploration Services, and former exploration manager for Manica Minerals, a private prospect generator company with an extensive multi-commodity portfolio of projects in Africa.
Sarah Oliver – Chief Financial Officer
Sarah Oliver has more than 10 years of experience working in the accounting and finance industries – most recently as the chief financial officer of the predecessor company to Fortune Bay. She worked with PwC Canada in their consulting and deals group and then in their assurance practice, as a senior manager where she assisted her clients through various acquisitions and mergers, public and private financings and advising on accounting policy and control implementation. Oliver has been a chartered professional accountant, chartered accountant since 2007.
Gareth Garlick – VP Technical Services
Gareth Garlick has approximately 25 years of international experience in the mining and mineral exploration industry. He is experienced in all aspects of the mining cycle, ranging from grassroots exploration to resource estimation and resource reconciliation on producing mines, and has been overseeing all of Fortune Bay’s operational and development-related work. Garlick is a registered P.Geo (EGBC) and holds a Bachelor of Science (Honours) in Geology from the University of Cape Town.