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Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce results from its in-fill soil sampling program at its 100% owned Mt Dove lithium-gold project in Western Australia. The program was designed to evaluate multiple lithium and gold anomalies outlined from the Company’s 2022 Ultra-fine fraction (UFF) soil sampling program.1
Highlights
- Seven high priority lithium anomalies confirmed and enhanced by in-fill soil sampling at the Mt Dove Project in the Pilbara region of Western Australia
- Coherent lithium anomalies extend up to 3,100m length within predominantly shallow sand covered eastern part of licence area
- Outcropping pegmatite samples, with high rubidium (max 0.14% Rb) identified within the highest priority lithium anomaly
- Project located near world class Pilgangoora (ASX:PLS) and Wodgina (ASX:MIN) lithium mines and Hemi gold deposit (ASX:DEG)
- Mt Dove Project also near recent lithium pegmatite discoveries at Tabba Tabba (ASX:WC8) and Pippingarra (ASX:IND)
- Planning underway for design and permitting of a first pass aircore drilling program to cover high-priority targets
The Mt Dove project is located approximately 25km NNW of Mineral Resources’ (ASX: MIN) Wodgina Lithium Mine, 34km WNW of Pilbara Minerals’ (ASX: PLS) Pilgangoora Lithium Mine, 12km SE of De Grey Mining’s (ASX: DEG) Hemi gold deposit, 45km SW of Wildcat Resources’ (ASX: WC8) Tabba Tabba lithium deposit and 41km SSW of Industrial Metals’ (ASX: IND) Pippingarra lithium prospect in the Pilbara region (see Figure 1).
Managing Director and CEO, Neil Marston commented,
“The Mt Dove in-fill soil sampling program has confirmed seven broad areas of lithium and associated pathfinder element anomalism, highlighting the exciting lithium potential of the project.
“Flynn has recently commenced an accelerated work program on its Mt Dove, Lake Johnston and Forrestania lithium projects in Western Australia.”
“The projects are located close to world class lithium deposits and some exciting new discoveries including the Tabba Tabba and Pippingarra projects in the Pilbara and the Burmeister, Jaegermeister and Mt Gordon prospects in the Lake Johnston region.
“The aim of our fieldwork has been to identify pegmatite bodies across our tenements from mapping, sampling and target generation for drill testing. We look forward to providing updates to shareholders on our exploration progress including the plans for our first drill program.”
Figure 1: Flynn Gold Limited’s Mt Dove project location plan.
Soil Sampling Program
The results from an in-fill soil sampling program at the Mt Dove project (E45/5055) have been received and have outlined seven high priority coherent lithium anomalies with associated pathfinder geochemistry and eleven lower priority, less coherent lithium anomalies (Figure 2). The program has been successful in confirming and enhancing the seven high priority lithium geochemical anomalies and in providing further detail of the pathfinder zonation trends (refer to Table 1 and Appendix 1 for further details).
The seven high priority anomalies reveal broad areas of lithium soil anomalism extending between 600m and 3,100m in length and between 200m and 1,000m in width. The soil anomalies have been defined by clusters of samples which are greater than 75ppm Li (+160ppm Li2O) for the original UFF samples and greater than 21ppm Li (+45ppm Li2O) for the recent -2mm soil samples. These are considered significant anomalies particularly when taking into account the supporting associated pathfinder anomalism and trends (Figures 5 - 9).
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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.
Latest Drilling At Salinas Lithium Project Confirms Continuity And Thickening Of Pegmatites Along Strike And Down Dip
HIGHLIGHTS
- Three diamond holes completed, with all three intersecting multiple spodumene bearing pegmatites, confirming strike and dip continuity.
- All pegmatites are open along strike and downdip.
- Drilling 180m along strike to the south has intersected 16.17m (true thickness) spodumene bearing pegmatites.
- Drillinghasconfirmedthe“pinch and swell”natureofthepegmatitesatSalinas, highlighting the significant nature of this greenfields discovery.
- Drilling of the 14-hole program is ongoing, with SADD004 currently underway testing the down dip extensions of pegmatites intersected in SADD003.
As previously reported, the Company’s initial drillhole SADD001, intersected three separate spodumene bearing pegmatites down dip from high-grade lithium outcrop samples1. Drilling of the next two holes is now complete, with SADD002 targeting approximately 100m down dip from SADD001, and SADD003 some 180m to the south along strike (Appendix 1) (Figure 2). All three holes have intersected the same three layers of pegmatites
Figure 1: SADD003 – spodumene bearing pegmatite 65.6-81.77m, (16.17m true thickness) intersected in diamond drilling approximately 180m along strike to the south of previously reported intersections1
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New Drilling and Exploration Programs Launched for Critical Minerals and Gold Targets in World-Class Australian Mineral Provinces
- A series of new drilling and exploration programs have been launched, testing Critical Minerals and gold targets across three key project areas. These projects all lie along strike from major deposits in world-class mineral provinces in Western Australia and the Northern Territory (see locations, Figure 1).
- The exploration programs at these highly prospective projects, acquired through the purchase of an 80% interest in Payne Gully Gold Pty Ltd1, include:
- Initial drilling of un-tested key copper-gold target corridor at the Warrego East Copper-Gold Project within the Tennant Creek Mineral Field (TCMF) in the NT (see Figure 1), which has historically produced 25Mt @ 6.9 g/t Au and 2.8% Cu2. The granted Warrego East EL32725 lies directly east of Warrego, the largest historical mine at Tennant Creek, which produced 6.75Mt @ 1.9% Cu, 6.6 g/t Au2, and covers a fault corridor interpreted from detailed magnetics and the Company’s gravity survey that connects Warrego with the Gecko and Orlando copper-gold deposits (past production and resources 11Mt @ 2.3% Cu, 1.8 g/t Au2,3 – see Figure 2). A Mine Management Plan (MMP) has been submitted to the NT Government for approval for an extensive aircore drilling program and follow-up RC/diamond drilling across ironstone hosted copper-gold targets which have not been previously tested. The Company also has four EL applications in the TCMF, all of which sit on key mineralised corridors (see Figures 2 & 3).
- Initial drilling of lithium-pegmatite targets on the Warrambie Critical Minerals (Li, Ni-Cu-Co) Project in WA’s northwest Pilbara (see Figure 1). Warrambie is located just 10km east of the major Andover lithium discovery which has produced drilling intersections of up to 209m @ 1.42% Li2O4. Targets have been defined by detailed gravity and reprocessed magnetics imagery5 which are analogous to the Andover geophysical signature but have not previously been tested due to the presence of shallow soil cover. A Program of Work (PoW) has been submitted to the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for approval to drill a series of aircore drilling traverses and follow-up with RC or diamond drilling across identified lithium pegmatite targets (see Figures 4 & 5). This program is expected to commence during H2 2024.
- An aeromagnetic (fixed wing) survey is underway across the granted gold tenements located along strike to the northeast of the 5Moz Big Bell gold deposit in WA’s Murchison Gold Province. (see Figures 1 & 6). The tenements cover a 50km strike length of the regional scale Chunderloo Shear Zone and regional magnetics show potential for greenstone and potentially gold-mineralised splay structures which have not been tested in areas of cover1. The detailed aeromagnetics will define these targets prior to planned aircore drilling to test bedrock targets.
Metals Australia CEO Paul Ferguson commented:
“These new exploration programs are important steps in advancing our extensive and highly prospective Critical Minerals and gold projects in WA and the NT, which are all located along strike from major deposits in world-class mineralised terranes.
High-quality drilling targets have been identified by our geological team at the Tennant Creek project, east of the high-grade Warrego copper-gold mine, and at our Warrambie project in the northwest Pilbara, which is only 10km east of the major Andover lithium discovery. We have also commenced a detailed aeromagnetic survey across a large project area located directly along strike from the 5-million-ounce Big Bell mine in WA’s Murchison district.
With exploration programs across five key projects in Australia and Canada, the second half of 2024 will be an extremely exciting period for the Company as we look to unlock the value of our portfolio.”
The target areas being tested are all located along strike from major mineral deposits (see Figure 1, below).
Figure 1: Metals Australia key Critical Minerals and gold exploration projects in world-class mineral terranes (adapted from Geoscience Australia, Australian Mineral Deposits)
Warrego East Copper-Gold Targets, Tennant Creek, NT
The Company’s Tennant Creek Project includes granted EL32725 at Warrego East and four EL applications, EL32397, EL32837, EL32410 and the more recent EL33853, located in the Tennant Creek Mineral Field (TCMF) (see Figure 2 below).
The TCMF has produced 25Mt @ 6.9 g/t gold (Au) & 2.8% copper (Cu) historically2, the equivalent of more than 8.5Moz or $20 billion worth of gold at current prices, with all production coming from deposits in outcropping areas.
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This article includes content from Metals Australia Ltd, 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.
Flynn Gold Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects