- Flynn Gold (FG1) strikes further high-grade gold at the Trafalgar prospect within its Golden Ridge project in Tasmania
- The company wrapped up phase one diamond drilling at the prospect in February, with seven diamond holes completed
- The program intersected high-grade gold in multiple vein-zones, returning assays including 3.5 metres at 8.33 grams per tonne gold from 379.5 metres
- Flynn Chief Executive Officer Neil Marston says the results are a “clear indication” of the growing scale and potential of the multi-vein system at Trafalgar
- Flynn Gold shares climb 6.85 per cent, trading at 7.8 cents at midday AEST
Flynn Gold (FG1) shares have soared after striking further high-grade gold at the Trafalgar prospect within its Golden Ridge project in northeast Tasmania.
The company wrapped up phase one diamond drilling at the prospect in February, with seven diamond holes completed.
The program intersected high-grade gold in multiple vein zones over a strike length of around 200 metres and depths of up to 400 metres from the surface, confirming a new gold discovery.
Flynn Chief Executive Officer Neil Marston said the diamond drilling program has continued to deliver “exciting” high-grade gold results.
Assays from the program included 3.5 metres at 8.33 grams per tonne (g/t) gold from 379.5 metres, including two metres at 13.75 g/t gold from 380.3 metres.
Other hits included six metres at 0.52 g/t gold from 230 metres, and one metre at 1.42 g/t gold from 249 metres.
“The latest assays reveal further significant gold intersections, in addition to the exceptional results previously reported for this hole,” Mr Marston said.
“This is a clear indication of the growing scale and significant potential of the multi-vein system at Trafalgar.
“The Trafalgar discovery emphasises the potential of the Golden Ridge project to host additional gold deposits which collectively enhance the company’s aim of establishing a significant gold mineral resource at the project.”
Phase two drilling is now underway, targeting extensions of high-grade mineralisation, which have been previously unearthed.
The company is awaiting laboratory assays for over 500 core samples from phase one and the first hole of phase two drilling.
Flynn Gold shares climbed 6.85 per cent, trading at 7.8 cents at midday AEST.