Flynn Gold Ltd (ASX:FG1) has doubled down on exploration successes at the high-grade Trafalgar deposit in the Golden Ridge Project in Northeast Tasmania, with new drilling to follow-up hits of more than 100 g/t gold.
The company’s newly generated geological model for Trafalgar has indicated the presence of multiple sub-parallel high-grade gold veins.
Flynn intends to drill an initial 1,500 metres to infill and extend the mineralisation, specifically drilling down-dip and along strike from previously reported drilling.
Gold prices at record highs
“Since the completion of drilling at the Trafalgar prospect at Golden Ridge in 2023, Flynn Gold has been undertaking geological modelling of the high-grade gold intersected in multiple vein sets,” Flynn Gold managing director and CEO Neil Marston said.
“This modelling work, in combination with our recent soil sampling activities, demonstrates the potential for extensive gold mineralisation at Golden Ridge.
“Based on the latest information we have designed a program of drill holes with the goal being to target down-dip and along-strike extensions to previous high-grade gold intercepts.
“As gold prices hit record highs, it’s an exciting time for our team to be drilling this new Tasmanian gold discovery.”
Gold has enjoyed strong upward momentum for the last year to date, rising from A$3,046.9 on January 1 to A$3,691 today, hitting record after record as geopolitical uncertainty drives ‘safe-haven’ investment.
FG1 previously hit very high-grade intersections at Trafalgar, which the company will be seeking to replicate, with best results including:
- 5 metres at 12.56 g/t gold, including 0.4 metres at 150 g/t from 202 metres;
- 1.2 metres at 65.9 g/t, including 0.5 metres at 143 g/t from 57.5 metres;
- 12.3 metres at 16.8 g/t, including 0.7 metres at 152.5 g/t from 120.3 metres; and
- 4 metres at 23.7 g/t, including 0.5 metres at 169.8 g/t from 25.9 metres.