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Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce it has commenced a soil sampling program at the recently optioned Parker Dome lithium project in Western Australia1.
Highlights
- Geochemical soil sampling for lithium has commenced at the recently optioned Parker Dome project, situated 50km north of the world class Mount Holland lithium project in Western Australia
- The soil sampling program will initially focus on the Western and Eastern Pegmatite Trends defined by historic RAB drilling
- Several of the historic drill holes intersected and terminated in pegmatite and were not assayed for lithium
- Soil sampling will represent the first systematic lithium exploration undertaken at the project
- Sampling program expected to be completed in December with assay results due in early Q1 2024 after which the company plans to drill-test potential anomalies
The licences are located in the Forrestania-Southern Cross greenstone belt 50km north of the Mount Holland lithium project and 20km north-east of the Rio lithium deposit held by Zenith Minerals Limited (see Fig. 1).
The program is designed to provide first-pass geochemical coverage over the Western and Eastern pegmatite trends (Figure 2), delivering the first systematic lithium and associated pathfinder assays for the project.
Managing Director and CEO of Flynn Gold, Neil Marston commented,
“We have moved rapidly to commence on-ground exploration at Parker Dome with an initial soil program targeting two main pegmatite trends outlined by historic drilling.
“Soil sampling has proven to be a very effective and rapid method to assess prospective ground for lithium anomalies in both the Forrestania and Lake Johnston Belts. We expect the survey will generate new targets for drill testing and will complement targets generated from historic exploration drilling.
“The exploration team has mobilised to Marvel Loch and sampling work has commenced on the ground. We look forward to providing shareholders with updates as work progresses and results are received.”
Figure 1 - Location of Flynn’s Forrestania and Lake Johnston projects and Parker Dome ELs
Figure 2 - Location of Soil Program areas and Pegmatite Targets on E77/1965 and E77/2091
Soil Sampling Program
A program of approximately 700 soil samples is planned in the current phase of work. Sampling will focus on providing first-pass coverage over the Western and Eastern pegmatite trends (Figure 2). The sampling program should be completed over the next 2 weeks with assay results expected early in Q1 2024.
Click here for the full ASX Release
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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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.
Updated Commercial Development Plan for North America’s First Lithium Brine Production Facility
HIGHLIGHTS
- Updated strategic phased development plan has been implemented for the Prairie Lithium Project.
- Phase I will see the Prairie Lithium Project go into production at Pad #1 using a commercial-scale DLE unit capable of producing 150tpa of Lithium Carbonate Equivalent (LCE).
- To get into production, only AUD35m (USD22m) required to spend on Phase 1 CAPEX.
- Non-dilutive capital initiatives currently being considered with multiple potential strategic partners completing extensive due diligence on the Prairie Lithium Project, in addition to existing Government grants and loans being considered as well as traditional debt financing solutions.
- First commercial production marks the first Company in North America to reach this milestone.
- De-risking by a commercial scale proof of concept allows production to be increased by rapid replication of the process at Pad #1.
- Construction work will commence at Pad #1 in Q2 2025.
- Phase 2 will immediately expand the facility with additional commercial-scale DLE units. Additional units can be rapidly deployed to increase production at Pad #1. Phase III will see the Pad design replicated across the already drilled and de-risked Pad #2, and Pad #3. Additional Pad locations are also being finalised in 2025.
- Grey Owl Engineering has been engaged for facility engineering, procurement, and construction (EPC). Grey Owl is a leading Western Canadian oil & gas facilities engineering company.
- The Prairie Lithium Project in Canada is perfectly positioned to feed battery-grade lithium carbonate into the mature Asian battery market. Battery-grade samples produced from the Prairie project are currently being distributed and tested in Asia.1
Phase I will see the project go into production at Pad #1 using a commercial-scale Direct Lithium Extraction (“DLE”) unit capable of producing 150 Tonnes Per Annum (“TPA”) Lithium Carbonate Equivalent (“LCE”). The lithium produced will be used to de-risk end market opportunities where battery-grade samples are currently being tested by interested groups in Asia. Phase I will process brine at a rate of approximately 1,000m3 per day. It is critical to process raw brine at this commercial scale to de-risk the temperature, pressure and chemical constituents of the brine while feeding a commercial scale DLE unit 24 hours per day, 7 days a week. A video rendering of Phase I at Pad #1 has been prepared and can be viewed here: https://youtu.be/mUNExsUBjfo
This will represent one of the world's largest DLE facilities and provide the guidance required to scale up production cost-effectively across the Prairie Project shortly thereafter. Upon commissioning and operating at this scale, the Company will have significantly de-risked the process and proceed to Phase II.
Phase II will see the immediate expansion of production on Pad #1. Phase II expansion will highlight the benefits of modularised scale-up as additional commercial-scale DLE units will be rapidly deployed. Additional wells will also be drilled to maximise production from Pad #1.
Phase III will see the replication of the wells and facility at Pad #1, applied to Pad #2, Pad #3 and additional Pads that are currently being identified.
Figure 1: Rendering of site layout and facility for Phase I at Pad #1
Arizona Lithium Managing Director, Paul Lloyd, commented:“We are excited to share additional details about our plans for the Prairie Project. In 2023, a PFS was released that highlighted lithium production across three pad locations from the Prairie Project. In 2024, we partnered with three landowners to secure the three pad locations and immediately went to work permitting and clearing the ground for the pads. A major drilling program was then executed across those three pads, which significantly de-risked the project and put us in a position to continue development toward production. 2025 will be a year of facility construction and commissioning Phase I at Pad #1. Our phased development plan clearly articulates how we will continue to de-risk and develop the project. Modularisation allows rapid and cost-effective scale-up to increase production in Phase II and III.”
About the Prairie Lithium Project
AZL’s Prairie Lithium Project is located in the Williston Basin of Saskatchewan, Canada. Located in one of the world’s top mining friendly jurisdictions, the project has easy access to key infrastructure including electricity, natural gas, fresh water, paved highways, and railroads. The project also aims to have strong environmental credentials, with Arizona Lithium targeting to use less freshwater, land and waste, aligning with the Company’s sustainable approach to lithium development.
Click here for the full ASX Release
This article includes content from Arizona Lithium, 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
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- Upcoming projects