Join our daily newsletter At The Bell to receive exclusive market insights
Flynn Gold Ltd (ASX:FG1) has defined a maiden exploration target for three prospects of its Golden Ridge project in north-east Tasmania which together include only 30% of the anomalism identified there, prompting hopes for further expansion.
Following several drill campaigns, Flynn identified a JORC-compliant target of between 3.5 and 5.4 million tonnes grading at 3.0g/t Au to 4.0g/t Au for 449,000 to 520,000 ounces of contained gold for the Trafalgar, Brilliant and Link Zone prospects.
As well as making up only 30% of the 9-kilometre-long anomaly which underpins Golden Ridge’s mineralised system, the target is also open in all directions.
Exploration work is continuing on site, with Link Zone being the subject of diamond drilling to test extensions of confirmed gold-vein mineralisation along strike and down-dip of the Golden Ridge adit, a historical resource.
Flynn is also aiming to use drilling work to push the exploration target towards conversion to a mineral resource.
Managing Director and CEO Neil Marston said he was pleased that successful drill campaigns had led to the achievement of an exploration target for the three prospects.
“The Exploration Target is open in all directions and encompasses less than 30% of the known gold anomalism at Golden Ridge which highlights the substantial future growth potential of this exciting project,” he said.
“This is a significant step toward our next goal of defining a maiden JORC Mineral Resource
for the project.
“There is potential to significantly increase the tonnage and grade at Golden Ridge with in-fill and expansion drilling, which will be a major focus for the Company during 2025.”
Flynn has been trading flat at 3 cents.
Join the discussion: See what HotCopper users are saying about Flynn and be part of the conversations that move the markets.
-1200x645-380x200.jpg)
