Flynn hits up to 35g/t gold in Tasmania

• Flynn Gold hits high-grade gold in maiden drilling at Double Event prospect
• Prospect part of Golden Ridge project which hosts intrusion-related gold
• Company has begun diamond drilling at nearby Mangana project

Special Report: Flynn Gold has hit up to 35g/t gold in maiden drilling at its Golden Ridge project in northeast Tasmania.

The project was once explored by mining giant Billiton, and since listing, the company has outlined an exploration target of around half a million ounces of gold.

Now, maiden diamond drilling has returned strong results from the Double Event prospect:

• 5m at 6.3g/t Au from 37.3m, including 0.3m at 22.2g/t and 0.25m at 35.1g/t
• 8m at 1.9g/t Au from 43.2m, including 0.3m at 9.9g/t
• 1m at 2.9g/t Au from 32.8m, including 0.55m at 5.1g/t
• 4m at 7.0g/t Au from 53.7m

Double Event lies 1km north of the Trafalgar prospect, where drilling previously returned high-grade intersections exceeding 100g/t gold.

The prospect was also not included in Flynn Gold’s (ASX:FG1) previously reported exploration target, which provides plenty of upside for future drilling as the company hunts for a large intrusive-related gold system (IRGS).

Assays are pending for three remaining holes.

Watch: Excess demand drives upsized raising

Reinforces system scale and continuity

The company said results from the latest drilling, trenching, rock chips and infill soil sampling indicated significant potential to grow the Trafalgar Trend vein system over 2km N-S strike from Trafalgar to Big Penny prospects, with multiple parallel-vein systems still to be tested.

“The maiden drill program at Double Event has delivered high-grade gold vein intersections, with assay grades of up to 35.1 grams of gold per tonne,” MD and CEO Neil Marston said.

“The drilling has also confirmed that the targeted sulphide-bearing quartz vein system extends down-dip from the high-grade intervals exposed in recent surface trenching.

“Importantly, every drillhole result to date from Double Event has intersected the mineralised structures, reinforcing our confidence in the scale and continuity of the Golden Ridge intrusive-related gold system.

“These drilling results, together with the expanding soil-geochemical anomalies we have delineated, continues to build evidence for the presence of multiple sub-parallel mineralised zones along the 9km corridor surrounding the Golden Ridge granodiorite contact.”

Diamond drilling has started at the Mangana project, 25km southwest of Golden Ridge.

This article was developed in collaboration with Flynn Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.