Flynn Gold (ASX:FG1) has announced the discovery of a new area of interest for potential future drilling in Tasmania.
Located right nearby Flynn’s Golden Ridge project, a “high-grade gold vein zone” 250m north of the Trafalgar Mine is now on geotechs’ radar.
One word of caution: high grades pointed to as evidenced by a 99g/t gold rock-chip, but a word on rock chips is valuable, here.
Rock chips are collected in field sampling – in other words, people in their boots tackling scrub or any other kind of terrain. Rock chips are spotted visually, as in, the sun makes the metals in the rock sparkle.
Because of the concentrations needed to attract attention to the naked human eye, a rock chip will almost definitely always be high grade by its very nature. They do not really mean anything about what’s further underground.
With that out of the way, Flynn also logged two assays from trench sampling:
- 11m @ 2g/t gold incl. 3.3m @ 6.3g/t
- 16.5m @ 1.3g/t gold incl. 1.5m @ 6.8g/t gold
Not as impressive as the rock-chips – but proof of mineralisation on-site all the same.
Whether the trenching points towards a deeper system remains the main focus of the company with a diamond drilling campaign underway right now.
“These gold veins were exposed in trenching over an area of historical mine workings which appear unrecorded since they were dug about a century ago,” Flynn CEO Neil Marston said of the new target area of interest.
“With so many high-grade gold assays recorded at the surface we have adjusted our on- going diamond drilling program to test beneath these old workings and we look forward to reporting the results of this drilling shortly.”
FG1 last traded at 2.6cps.