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Flynn Gold Limited (“FG1” or “Flynn Gold”) (ASX: FG1) is pleased to announce that assay results from first-pass soil sampling completed in late 2023 have identified a large, high priority lithium target at its 100% owned Lake Johnston Lithium Project in Western Australia.
Highlights
- Soil sampling outlines a large, high priority lithium anomaly at Flynn Gold’s Lake Johnston Project in Western Australia
- Priority Target 1 presents as a large scale (4km x 1km), strong anomaly with twenty-three samples returning assay results over 100ppm Li2O
- Anomaly remains open to the south and covers lithologies considered favourable to host pegmatites
- Priority Target 1 anomaly supported by geology and pathfinder element geochemistry
- Additional lithium targets identified near recently mapped pegmatites
- Planning underway for follow-up infill and extensional soil program
The target is located 11km southeast of the Burmeister1 lithium pegmatite discovery held by TG Metals Limited (ASX:TG6) and just 5km southeast of the Mt Gordon Prospect2 held by Charger Metals NL (ASX:CHR) (see Figures 1 and 2).
Pegmatites were identified at the project3 on E63/2190 during an initial reconnaissance field trip in 2023. This soil sampling program was designed to provide first-pass geochemical coverage over this main trend.
Managing Director and CEO, Neil Marston commented,
“We are very pleased to report outstanding assay results from our first soil program at Lake Johnston, which is rapidly emerging as WA’s newest lithium hotspot.
“Flynn has outlined a 4km-long strong lithium soil anomaly, along strike from the recent high-grade lithium discoveries at the nearby Burmeister, Jaegermeister and Mt Gordon prospects. This anomaly extends to the limit of the sampled area and has potential to be extended to the south by further sampling.
“Over the last few months, Flynn has successfully outlined significant lithium soil anomalies at its Western Australian lithium projects. The company’s Lake Johnston and Parker Dome projects in the Yilgarn region and Mt Dove project in the Pilbara are all well located near existing lithium deposits or operating mines.
“Flynn will now systematically advance these targets at Lake Johnston with value-adding, low-cost infill and extensional soil sampling and geological mapping.”
Figure 1 - Location of Flynn’s Lake Johnston project, other explorers’ holdings and new soil lithium targets
Lake Johnston Soil Sampling Program
The results from a soil geochemistry program at the Lake Johnston project have been received and have outlined three substantial lithium soil anomalies, including one large-scale (4km x 1km), high priority, lithium anomaly with supporting associated pathfinder geochemistry (Priority Target 1, Figure 2). Priority Target 1 occurs in an area of shallow transported sheetwash alluvium overlying a thick sequence of high-magnesium and tholeiitic basalts, lithologies considered favourable to host pegmatites.
Flynn’s exploration licences at Lake Johnston were granted in July 2023 and during an initial reconnaissance field trip, three previously unmapped pegmatite outcrops4 were successfully identified on E63/2190. In addition to the Priority Target 1, the soil sampling program has subsequently outlined a 2km long by 400m wide lithium anomaly (Target 2) in the vicinity of the mapped pegmatites (Figure 2).
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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
Investor Insights
Flynn Gold’s large, high-grade gold footprint in Tasmania provides a compelling investor proposition that leverages a continuing gold bull market.
Overview
Flynn Gold (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 9-kilometre-long granodiorite-metasediment contact zone with diamond drilling programs completed at the Brilliant and Trafalgar prospects, with multiple high-grade gold vein intersections.
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 are in the Pilbara region: Mt Dove and Yarrie.
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 1,403 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.
- Flynn Gold is focused on advancing exploration and drilling at three high-grade gold projects in Tasmania - Golden Ridge, Warrentinna and Firetower.
- In Western Australia, Flynn holds 20 tenements across 1,200 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.
- 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 is focused on three high-grade gold projects in Tasmania — Golden Ridge, Warrentinna and Firetower. 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 9-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.
Soil sampling at the Golden Ridge project has been progressively undertaken since an initial sampling trial using the UltraFine+ technique was initiated in May 2022. The results of this soil sampling have highlighted the known prospect areas, as well as several new target areas at Grenadier and Big Penny, with gold anomalism not associated with historical workings.
Phase 3 drilling has commenced at the Trafalgar high-grade gold prospect confirming the continuity of multiple sub-parallel high-grade gold veins.
New high-grade gold discoveries have also been made at the Link Zone and Trafalgar North prospects.
At the Link Zone, mapping and vein sampling within the historic Golden Ridge adit has identified a significant new zone of high-grade gold mineralisation with underground grab sampling of mineralised veins in the adit recorded high-grade gold assays including 64.4 g/t gold, 37.6 g/t gold and 15.9 g/t gold.
At Trafalgar North, a high-grade gold vein zone has been discovered in trenching 250 m north of the historic Trafalgar mine with 17 out of 36 grab rock chip samples assayed over 10 g/t gold, including 99.4 g/t gold, 76.6 g/t gold and 67.1 g/t gold. Drilling at Trafalgar North commenced in July 2024.
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.
Portland Project
The Portland gold project 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.
Northwest Tasmania
The company has two projects in the Northwest Tasmania region: the Firetower project and the Henty zinc project.
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 completed a diamond drilling program in late 2023 to target both the gold and polymetallic minerals potential.
The drilling program was successful in testing for depth extensions of the main mineralised zone with the results demonstrating the continuity of polymetallic mineralisation and highlighting the significant potential for high-grade mineralisation to continue at depth and along strike.
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
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 the Pilbara region; and Koolyanobbing, Forrestania and Lake Johnston in the Yilgarn.
Mt Dove Project
Located 70 kilometres south of Port Hedland in the Pilbara region, Mt Dove comprises four granted licences and one tenement application covering 190 sq. kms. 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 two tenements and one application covering 385 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 the high-grade nickel deposit at Flying Fox (IGO Limited (ASX:IGO)).
Results from the company’s auger soil sampling program, completed on E77/2915, outlined four high-priority lithium anomalies of up to 4,200 metres in length and 500 metres in width.
Lake Johnston Project
Lake Johnston consists of three exploration licences over a 110 sq. km area, and is located near the recent Burmeister and Jaegermeister lithium discoveries of TG Metals (ASX:TG6)) and the Medcalf, Mount Gordon, 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.
Results from soil sampling have identified multiple, large-scale, high-priority lithium anomalies. The licences are fully permitted allowing for an immediate commencement of drilling.
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.
Significant Exploration Target for Golden Ridge, NE Tasmania
Highlights
- Maiden Exploration Target estimated for the Trafalgar, Brilliant and Link Zone prospects at FG1’s 100%-owned Golden Ridge Project
- The estimated range of potential mineralisation for the Exploration Target* is:
- 3.5 to 5.4 million tonnes grading at 3.0g/t Au to 4.0g/t Au for 449,000oz to 520,000oz of contained gold
*The size and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.
- 3.5 to 5.4 million tonnes grading at 3.0g/t Au to 4.0g/t Au for 449,000oz to 520,000oz of contained gold
- Exploration Target is open in all directions and represents less than 30% of the known strike of the 9km gold anomaly that defines the gold mineralised system at Golden Ridge
- Diamond drilling underway at Link Zone testing extensions of known gold-vein mineralisation along strike and down-dip of the historic Golden Ridge Adit
- Further drilling planned to expand the Exploration Target and convert to a Mineral Resource
- To hear our Managing Director Neil Marston discuss this Exploration Target announcement and to further engage with the Flynn Gold team head to: https://investorhub.flynngold.com.au/link/WrAB1P
The combined Exploration Target range is listed in Table 1:
Table 1 – Combined Exploration Target for Trafalgar, Brilliant and Link Zone
Flynn Gold’s Managing Director and CEO, Neil Marston states: “Following several successful drill campaigns testing the gold mineralisation at Golden Ridge, we are pleased to report an initial JORC-compliant Exploration Target for the Trafalgar, Brilliant and Link Zone prospects.
“The Exploration Target is open in all directions and encompasses less than 30% of the known gold anomalism at Golden Ridge which highlights the substantial future growth potential of this exciting project.
“This is a significant step toward our next goal of defining a maiden JORC Mineral Resource for the project. There is potential to significantly increase the tonnage and grade at Golden Ridge with in-fill and expansion drilling, which will be a major focus for the Company during 2025.”
Exploration Target
The Golden Ridge Project is located within EL17/2018 in North-east Tasmania (see Figure 7).
Flynn has calculated JORC compliant Exploration Targets for the Trafalgar, Brilliant and Link Zone prospects at Golden Ridge dated 8th November 2024. Table 2 below provides a summary of the Exploration Targets for each prospect:
Table 2 - Exploration Targets for Trafalgar, Brilliant and Link Zone prospects at the Golden Ridge project.
The combined Exploration Target only encompasses areas where Flynn has drill-tested vein mineralisation at locations shown in Figure 1 and does not include areas of anomalous soil geochemistry, which the Company considers to be highly prospective for gold mineralisation and intends to drill-test in the future.
The drill-tested Trafalgar, Brilliant and Link Zone prospects define a significant zone of gold mineralisation extending over a strike length of approximately 3km, which is contained within a broader 9km zone of gold anomalism that trends along the contact between the Golden Ridge granodiorite and the Mathinna supergroup metasediments (Figures 1 - 3).
Potential gold vein extensions at Trafalgar and Brilliant ,defined by anomalous gold-in-soil geochemistry along strike of and surrounding the Exploration Target veins, were not included in the Exploration Target calculation.
Work is currently in progress to in-fill these areas with soil sampling and trenching prior to exploration drill-testing.
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 Link Zone, Golden Ridge, NE 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.
September 2024 Quarterly Activities Report and Appendix 5B
Highlights
Exploration – Golden Ridge Project, NE Tasmania
- Multiple gold-bearing quartz veins successfully intercepted in diamond drilling at the new Trafalgar North vein zone discovery. Two drill holes completed at Trafalgar North, with best mineralised intercepts including:
TFDD019
- 4.8m @ 4.0g/t Au from 165.6m; including:
- 0.4m @ 17.9g/t Au from 166.9m, and
- 0.4m @ 24.0g/t Au from 170.0m
- 0.3m @ 25.1g/t Au from 440.5m
TFDD020
- 3.05m @ 4.9g/t Au from 53.1m including
- 0.35m @ 40.0g/t Au
- 2.7m @ 4.1g/t Au from 115.4m, including
- 0.35m @ 26.6g/t Au
- Gold mineralisation at Trafalgar North confirmed from surface to over 150m depth and open in all directions
- New in-situ gold vein system discovered during surface sampling and trenching programs at the Grenadier Prospect
- Flynn Gold to receive up to $140,000 to co-fund drilling under the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI)
Exploration – Other Projects, NE Tasmania
- New Exploration Licence Application submitted over 40km2 of highly prospective exploration tenure surrounding the historic Beaconsfield Gold Mine
- Exploration landholding in NE Tasmania reduced by 457km2 (30%) to approximately 1,020km2, reducing holding costs significantly
Corporate
- The Company’s cash position at 30 September 2024 was $1.83 million
- An At-The-Market Subscription Agreement signed with Dolphin Corporate Investments, providing Flynn with up to $2,000,000 of standby equity capital over the next three years
JOIN FLYNN GOLD’S INTERACTIVE INVESTOR HUB
to receive announcements and updates and to interact with the Company by asking questions or making comments which our team will respond to where possible
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/qy1Aly
Flynn is an Australian mineral exploration company with a portfolio of 100% owned exploration projects in Tasmania and Western Australia (see Figure 1).
The Company has eight 100% owned tenements in north-east Tasmania which are highly prospective for gold as well as tin/tungsten. The Company also holds the Henty zinc-lead-silver project on Tasmania’s mineral-rich west coast and the Firetower gold and battery metals project located in north-western Tasmania.
Flynn has also established a portfolio of gold-lithium exploration assets in the Pilbara and Yilgarn regions of Western Australia. In addition, Flynn holds a binding Option Agreement to acquire two exploration licences at Parker Dome (Forrestania), Western Australia.
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 Confirms New High-Grade Gold Zone at Golden Ridge, NE Tasmania
Highlights
- Multiple gold-bearing quartz veins successfully intercepted in diamond drilling at the new Trafalgar North vein zone discovery1
- Assay results have been received for two drill holes, TFDD019 and TFDD020, drilled at Trafalgar North.
- Best mineralised intercepts include:
- TFDD020
- 3.05m @ 4.9g/t Au from 53.1m including
- 0.35m @ 40.0g/t Au
- 2.7m @ 4.1g/t Au from 115.4m, including
- 0.35m @ 26.6g/t Au
- 3.05m @ 4.9g/t Au from 53.1m including
- TFDD019
- 4.8m @ 4.0g/t Au from 165.6m; including:
- 0.4m @ 17.9g/t Au from 166.9m, and
- 0.4m @ 24.0g/t Au from 170.0m
- 0.3m @ 25.1g/t Au from 440.5m
- 4.8m @ 4.0g/t Au from 165.6m; including:
- TFDD020
- Trafalgar North gold mineralisation confirmed to extend from surface to exceeding 150m depth and is open in all directions
- Gold mineralised veins now confirmed over a 500m wide zone along the granodiorite-hornfels contact at Trafalgar
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/lya02P
Flynn Gold Managing Director & CEO Neil Marston said:
“These are excellent early results from our on-going exploration at our flagship Golden Ridge project in NE Tasmania.
“Drilling has successfully intersected high-grade gold veins beneath the recently discovered trenching area at Trafalgar North and has confirmed our interpretation that this zone is continuous at depth and potentially is a parallel zone to the Trafalgar prospect mineralisation.
This new vein zone increases the mineralised footprint at Trafalgar from 300m to 500m width across the granodiorite/sedimentary contact and reinforces our view that this project has the potential to host large-scale gold mineralisation.”
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 initially planned 1,500m diamond drill program comprised infill and extension drilling targeting down-dip and along-strike extensions to previously drilled high-grade gold intercepts.
During June 2024, a new zone of gold-mineralisation, approximately 250m north of the historic Trafalgar mine was discovered in surface trenches2. This new area at Trafalgar North had the potential to significantly increase the mineralised footprint of the Trafalgar prospect and therefore became the focus of drilling later in the campaign.
Figure 2 - Trafalgar Prospect Drill Hole Location Plan
Two diamond holes for 623m (TFDD019 and TFDD020) have been completed, testing beneath and along strike of mineralisation discovered in the trenches (see Figure 2).
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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.
Prospect Ridge Resources
Investor Insight
Prospect Ridge Resources' compelling investment value proposition stems from the company's robust growth ambitions driven by its highly prospective assets near the renowned Golden Triangle region, and a management team with substantial technical expertise.
Overview
Prospect Ridge (CSE:PRR,OTC:PRRSF,FRA:OED) is a precious metals exploration company focused on key projects in Northern British Columbia near the prolific Golden Triangle. The Golden Triangle in northwest British Columbia has been a hub for mineral exploration and mining endeavors for over 150 years. The company owns 100 percent of both the Knauss Creek property and the Holy Grail property.
The Knauss Creek property resembles the high-grade mineralization found in the historical Dorreen mine. Exploration at Knaus Creek has revealed high-grade mineralization comprising gold, silver, copper, lead and zinc. The Copper Ridge zone, which is in the southern part of the Knauss Creek property, is particularly interesting. In 2023, a total of 241 samples were collected from this area which extended the Copper Ridge mineralized zones over an east-west strike length of 1,550 meters, a north-south strike of 850 meters, and a height difference of 470 meters.
Prospect Ridge Resources has also completed an inaugural drilling program at the Copper Ridge zone to test high-priority targets covering an area of 1,550 metres by 850 metres.
The other property, Holy Grail, has also historically produced high-grade gold and silver from placer mining. Prospecting results at the Holy Grail property showed exceptional promise, uncovering significant discoveries of gold, silver, copper, lead and zinc.
Prospect Ridge benefits from a team of professionals boasting extensive expertise in geology and mining. The company is led by Micheal Iverson, CEO, who has more than three decades of experience in mining exploration. The management team has a proven track record of executing several successful exploration and development projects, including Fortuna Silver Mines and NioGold Mining’s Marban project.
Company Highlights
- Prospect Ridge is a Canada-based exploration and development company with two highly prospective land packages in British Columbia.
- The company’s two key assets are the Knauss Creek property and the Holy Grail property, located near the renowned Golden Triangle region in northwestern British Columbia. The Golden Triangle has historically been known for abundant precious and base metal discoveries, with numerous active mining projects and ongoing resource exploration.
- The flagship Knauss Creek property has revealed high-grade surface samples up to 78.9 g/t gold, 4,740 g/t silver, 29.4 percent copper, 33.33 percent lead and 4.10 percent zinc. The Copper Ridge zone is particularly interesting, where a 1.5-km strike zone containing high-grade gold-silver-copper trends were discovered.
- The company has completed an inaugural drilling program to test the drill-ready target Copper Ridge zone as well as other targets.
- Prospecting results from the Holy Grail property are exceptionally promising. They reveal noteworthy discoveries of gold, silver, copper, lead and zinc.
- Prospect Ridge is led by a proven team of executives with more than 100 years of combined experience leading several successful exploration and development projects, including Fortuna Silver Mines and NioGold Mining’s Marban project (sold to Oban Mining, now Osisko Mining).
Key Projects
Knauss Creek Property
The Knauss Creek property, situated 35 kms north of Terrace, BC, spans 2,944. It has excellent infrastructure access, proximity to Highway 16, numerous logging roads traversing it, and the Canadian National Railway passing through.
The property is home to the historical Dorreen mine. Various showings on the property, including the Jay Veins, Hugin, Kandy and Copper Ridge, contain gold, silver, copper, lead and zinc mineralization. The current focus is on the Copper Ridge zone, a high-grade polymetallic mineralization zone spanning 1,500 meters.
Assays from outcrop samples gathered during the 2023 prospecting season have revealed numerous high-grade gold, silver and copper findings. Highlights from rock outcrop sampling, include:
- Sample W489444 contains 6.70 grams per ton (g/t) gold, 4,610 g/t silver, 2.23 percent copper
- Sample W489424 contains 15.9 g/t gold, 987 g/t silver, 0.29 percent copper, 17.55 percent lead, 6.99 percent zinc
- Sample W501837 contains 0.49 g/t gold, 134 g/t silver and 29.4 percent copper
- Sample W501812 contains 2.14 g/t gold, 264 g/t silver and 10.35 percent copper
Consequently, the Copper Ridge zone has been extended, now measuring an east-west length of 1,550 meters, a north-south strike length of 850 meters, and a vertical difference of 470 meters. Field data suggests the veins follow a north-south orientation and dip towards the east.
The interpretation suggests the zone comprises a network of mineralized veins arranged like a ladder hosted within a dioritic intrusion.
The company has completed an inaugural drilling program to evaluate drill-ready targets like the Copper Ridge zone, the Leon’s Legacy and Dorreen Mine showings.
Holy Grail Property
The Holy Grail property is located 10 km north of Terrace, BC, and forms a horseshoe that encloses the fully owned Knauss Creek property in its southeastern part. It currently spans 70,109 hectares. The property is easily accessible via a highway, multiple serviced roads, logging roads, and ATV trails that cross cut it.
Prospecting results from the Holy Grail property displayed remarkable potential through substantial findings of gold, silver, copper, lead and zinc. Key highlights of the results include:
- Grab sample C362354 returned 28.0 g/t gold, 56.9 g/t silver and 2.03 percent copper on the 4 Shore showing
- Grab sample C362357 returned 13.7 g/t gold, 39.9 g/t silver and 1.33 percent copper on the 4 Shore showing
- Grab sample C363353 returned 0.37 g/t gold, 58.7 g/t silver and 3.43 percent copper on the Maroon Creek showing
- Grab sample C363092 returned 6.7 g/t gold, 21.1 g/t silver, and 0.12 percent lead on the Iceberg showing.
Management Team
Michael Iverson – CEO and Director
Michael Iverson has over three decades of experience in public and private capital markets. He also has significant experience in the mining industry, having founded Niogold Mining and Fortuna Silver Mines. At Niogold, he spearheaded the acquisition and exploration of an expansive land parcel in Val D’Or, leading to the company's acquisition by Oban Mining, presently known as Osisko Mining , at a substantial premium to its market capitalization. At Fortuna, he played a vital role in the company's prosperous evolution into a silver producer with operational mines in Peru and Mexico. Iverson, over his entire career spanning three decades, has achieved, in aggregate, market capitalizations in excess of $1 billion.
Yan Ducharme – President and Director
Yan Ducharme is a professional geologist with over 25 years of experience in greenfield and brownfield exploration projects in Quebec, Ontario, Africa and South America. He was on the exploration team at SEMAFO and Cambior/Iamgold and was an exploration manager at NioGold (then vice-president exploration), Canadian Malartic, SOQUEM, and Wesdome Gold Mine. He worked in underground mines and open pits. Ducharme obtained a masters in earth sciences from the University of Quebec in Montreal.
Jasmine Lau – CFO
Jasmine Lau is a seasoned finance and accounting expert with a wealth of experience as a CFO in the mineral exploration and resource sector, having worked on projects across the globe. She was employed in internal audit at Teck Resources and Deloitte, where she focused on audits of public mining and resource companies. Lau is a CPA, CA, and holds a Bachelor of Commerce degree from the University of British Columbia.
Simon Ridgway – Chairman and Director
Simon Ridgway is the CEO of Rackla Metals, a Vancouver-based junior gold exploration company listed on the TSX Venture Exchange since September 2011. He is also the CEO, president and director of Volcanic Gold Mines, a Vancouver-based company engaged in gold and silver property acquisition and exploration.
Michael Michaud - Director
Michael Michaud is a professional geologist with over 30 years of experience. He is an expert in developing and executing regional and mine-site exploration strategies across diverse deposit types in North and South America, Africa, Asia and Europe. Michaud is the vice-president of exploration at Wesdome Gold Mines. He also held roles at several firms, including Iamgold, St Andrew Goldfields, SRK Consulting and North American Palladium. Michaud holds an honors B.Sc. from the University of Waterloo and an M.Sc. from Lakehead University.
Toby Lim - Director
Toby Lim has been a practicing solicitor since 1997, focusing on corporate and securities law. He received a Bachelor of Commerce degree with honours from the University of British Columbia in 1992, followed by a Bachelor of Laws degree from Osgoode Hall Law School in Ontario in 1996.
Jacques Brunelle – Director
Jacques Brunelle has over three decades of involvement in the North American mining sector. He has held executive positions as president and director in publicly traded companies, including Niogold Mining, where he served in 2003, culminating in a successful acquisition by Osisko Mining in 2016. Throughout his career, Brunelle has raised substantial funds for exploration and equity financing initiatives in both public and private enterprises.
Bradley Scharfe – Director
Bradley Scharfe has over 25 years of experience in North America's capital markets. Scharfe has led financing endeavors throughout his career and assembled robust companies across various sectors, including resources and commodities. He specializes in raising, deploying and managing venture capital for companies in their early growth stages. Previously, Scharfe served as a venture capital stockbroker with Canaccord Capital, a leading Canadian investment firm. Scharfe holds a Bachelor of Arts degree from the University of Toronto, where he majored in commerce and economics.
TEM | Yalgoo Update - Further Excellent Iron Results
Key Points
- Additional high-grade magnetite iron intercepted in RC drilling
- Consistent intercepts over >2 km of drilled strike length
- Identical outcropping geology mapped over a 5 km total strike length
- Potential for a large-scale iron ore deposit nearby other world-class processing facilities
Remorse Target
High-grade iron
In addition to the lab results for the first drillhole previously reported 1, the Company is pleased to announce the completion of drilling and that follow-up results in subsequent drillholes confirm the presence of high-grade iron at the Remorse Target. New results include:
WARDH00180 16m @ 32.6% Fe from 93m (pXRF)
WARDH00169 20m @ 32.3% Fe from 120m (pXRF)
and 11m @ 30.8% Fe from 182m (pXRF)
WARDH00166 7m @ 32.8% Fe from 96m (Lab)
WARDH00171 8m @ 30.1% Fe from 130m (pXRF)
* Portable XRF (pxrf) results are not comparable in reliability to authorised laboratory results and should be not relied on for quantitative purposes outside indicative demonstrations of potential order of magnitude of enrichments.
Background
TEM has completed the first phase of RC drilling at the Remorse Target of its flagship Yalgoo Project. In total, 21 RC holes were drilled for 4,005m. Samples have been Boxscanned (pXRF) and submitted to the lab and final assay results are expected in December 2024.
The previously reported iron intercept from the first hole drilled at Remorse was WARDH00160 of 32m @ 30.0% Fe from 96m (including 7m @ 37% Fe) (Lab).
The Remorse Target is part of Tempest's broader Yalgoo Project which spans over 1,000 square kilometres of prospective terrain for base metals, precious metals and iron ore.
Figure 01: Section through iron mineralisation WARDH00180
Figure 02: Section through iron mineralisation WARDH00169 and WARDH00163-165.
All samples collected have been analysed using a Boxscan unit which includes a mounted portable X-ray fluorescence (pXRF). Although not as accurate as laboratory analysis, pXRF data when collected in a quality and consistent manner can also exhibit high accuracy and precision. The pXRF data has been compared with assays received to date (>800 samples) and has an average variance of -4.2% and a median of -4.3%. The results indicate the accuracy is considered acceptable for current exploration reporting purposes (and potentially an overall slight underestimation by pXRF).
Remaining assay results are due in December and are expected to correlate strongly with the pxrf results announced.
As previously advised, the drill program design was focused on the strong base metal geochemical anomaly exhibited at the Remorse Target 2. The planned holes were focused strongly on testing the 'hanging wall' stratigraphy at Remorse and were not initially focused on the newly identified iron layer. However, the program did result in the 4 most northerly drill holes intercepting the main magnetite layer and numerous holes intercepting adjacent magnetite-rich layers.
The widely spaced drilling shows continuity and consistency over more than 2 kilometres and identical iron-rich stratigraphy outcrops can be traced over an extensive 5-kilometre zone correlating with the original Remorse Target footprint.
Click here for the full ASX Release
This article includes content from Tempest Minerals 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.
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