Up to 67g/t Au Intersected in Drilling at Trafalgar, NE Tasmania

Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide the first results from its latest diamond drilling activities at the Company’s 100% owned Golden Ridge Project located in Northeast Tasmania (Figure 1).

Highlights

• Assays received from the first hole in the diamond drilling program underway at the Trafalgar Prospect, Golden Ridge, including 3 intersections returning >1 ounce/tonne gold
• Multiple high-grade gold veins intersected in drill hole TFDD016, including:
  • 0.4m @ 67.6g/t Au within 1.3m @ 21.9g/t Au from 248.7m;
  • 0.3m @ 39.2g/t Au from 243.2m;
  • 0.5m @ 35.1g/t Au within 1.4m @ 12.7g/t Au from 164.6m (Trafalgar Main Vein);
  • 0.3m @ 19.0g/t Au within 0.65m @ 10.5g/t Au from 187.55m (Magazine Vein);
  • 0.3m @ 12.3g/t Au within 1.2m @ 3.5g/t Au from 233.0m;
  • 0.4m @ 10.8g/t Au from 135.2m.
• Drilling confirms continuity of multiple sub-parallel high-grade gold veins at Trafalgar
• Drilling is ongoing with TFDD017 recently completed and TFDD018 underway – further assays pending for TFDD016 and later holes
• Previously reported drilling results from Trafalgar included multiple intersections grading >100g/t Au, including:
  • TFD001:
    • 5.0m @ 12.56g/t Au, incl. 0.4m @ 150.0g/t Au from 202.0m
  • TFDD003:
    • 1.2m @ 65.9g/t Au, incl. 0.5m @ 143.0g/t Au from 57.5m
  • TFDD005:
    • 12.3m @ 16.8g/t Au, incl. 0.7m @ 152.5g/t Au from 120.3m
  • TFDD013:
    • 4.0m @ 23.7g/t Au, incl. 0.5m @ 169.8g/t Au from 25.9m
  • TFDD015:
    • 1.1m @ 51.3g/t Au, incl. 0.4m @ 137.8g/t Au from 353.9m
• For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/oPBYlr

Managing Director and CEO, Neil Marston commented,

“These are impressive early results from the first hole of our drilling campaign at the Trafalgar Prospect at Golden Ridge in Northeast Tasmania, adding further confidence to our understanding of Trafalgar as a multiple high-grade vein, intrusion-related gold deposit.

“Earlier this year our exploration model for Trafalgar was refined and updated. Based on the new model this first drill hole was designed to test for mineralisation beneath the historic Trafalgar mine, and up dip of previously intersected high-grade intervals. We have intersected high-grade mineralisation in the target zones, which increases confidence in our work and the ability to understand this high-grade gold system.”

“We look forward to releasing further drilling results as this program progresses over the coming weeks.”

Figure 1 - Location of Flynn Gold tenements in NE Tasmania.

Trafalgar Prospect - Phase 3 Drilling

Phase 3 drilling commenced at the Trafalgar prospect in mid-April 2024. The planned 1,500m diamond drill program will initially comprise infill and extension drilling targeting down-dip and along-strike extensions to previously drilled high-grade gold intercepts. Initial holes are designed as infill and close-spaced step-outs around the previous wide-spaced drilling (100m average drill hole spacing) and will be used to test and refine the current vein model and inform targeting of further step-out strike and depth extension drilling.

The first hole, TFDD016, was drilled to 355.9m and was designed to in-fill widely-spaced drilling and test all 3 of the main veins (Trafalgar Main, Magazine, and Trafalgar South veins) and associated splays identified in Flynn’s recent modelled interpretation of the deposit

Assay results have been received for TFDD016 from 18.0m to 274.0m depth with the remaining samples (274.0-355.9m) at the laboratory.

TFDD016 was drilled into granodiorite, drilling towards the south under historical workings. As predicted, multiple zones with visible signs of mineralisation, including visible gold, were intersected in the hole. Significant intercepts are shown in Figure 2 and Figure 3 with full drilling details shown in Tables 1 & 2.

Figure 2 - Trafalgar Prospect collar location plan with interpreted mineralised veins projected to [surface].

The second hole, TFDD017, was completed last week with a final depth of 248.4m. It was also designed to test all the main veins (Trafalgar Main, Magazine, and Trafalgar South veins) (see Figure 2). This hole is currently being logged and sampled.

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