Flynn Gold Ltd (ASX:FG1) has been busy with a range of exploration activities at its 100%-owned projects in northeast Tasmania.
At the Trafalgar discovery, the company has wrapped up phase one diamond drilling with seven holes for 3,204.5 metres drilled, while planning and permitting for the phase two campaign are well advanced.
The phase two program is anticipated to kick off in March 2023, while diamond drilling should commence at the Popes Gold prospect in the coming weeks.
The company is excited by multiple zones of mineralised quartz-sulphide veining and breccia it has intersected in its latest drill hole, which it thinks might extend mineralisation at the Trafalgar prospect to the east of the exceptional interval of 12.3 metres at 16.8 g/t gold intersected in an adjacent hole.
Assays on the way
Flynn is also waiting on laboratory assays of high-priority core samples, including zones containing visible gold.
Core processing from priority zones in the latest drill holes is also underway, ahead of dispatch for laboratory analysis.
“Flynn Gold’s extended phase one diamond drilling program at the Trafalgar Prospect has now been successfully completed,” said CEO Neil Marston.
“The company is undertaking a detailed geological review of the results reported to date and as further assays results are received.
“The drilling at Trafalgar started as a three to four-hole program designed to test the mineralised granodiorite-hornfels contact. However, the program has been a resounding success, with significant gold mineralisation intersected in multiple vein zones from the first hole drilled, thus leading us to extend the program further.
Significant gold discovery
“We have now established that we have made a significant new gold discovery at our Trafalgar prospect.
“The next step in phase two drilling, which is due to start next month, is for us to continue testing for extensions along strike and down/up dip of the gold mineralisation.
“With the company now well-funded, following the recent close of our entitlement offer, our team will be back in the field shortly to kick off the exciting next phase of exploration and drilling.”