Flynn Gold (ASX:FG1) Ltd has had a very busy quarter, with diamond drilling starting at its flagship Golden Ridge Intrusive Related Gold System (IRGS) Project in Tasmania, boosted by successfully raising $10 million from an oversubscribed Initial Public Offer in June.
The Australian-based mineral exploration company, which is focused on two emerging gold camps – in northeast Tasmania and WA’s Pilbara region – has also started reviewing tin exploration potential at its Cameron (NYSE:CAM) Tin Project in Tasmania.
Brilliant Prospect diamond drilling
Flynn Gold’s immediate exploration focus is the Golden Ridge Project, where it is targeting potential IRGS-style mineralisation.
The Golden Ridge Project is 75 kilometres east of Launceston in northeast Tasmania, under a single exploration licence, EL17/2018.
Since acquiring Golden Ridge in 2019, extensive data review and reconnaissance mapping and sampling programs have been undertaken.
Positive results from surface rock chip sampling have indicated that the gold mineralisation system at Golden Ridge is significantly more extensive than previously recognised and the company has defined a number of prospects over an 8km long zone, which it plans to test.
Drilling to the end of June 2021 has been completed on two drill holes (BRDD-001 and 002) with drill hole BRDD-003 in progress.
Core logging, processing and sampling are in progress with first assay results anticipated in coming weeks subject to completion of the logging and sampling, and the workloads at the assay laboratories.
Golden Ridge gravity survey
Flynn Gold is expecting detailed gravity data, which is being processed and modelled, will provide improved mapping of the highly prospective intrusive-hornfels contact zone underlying Golden Ridge.
A detailed gravity survey over the Golden Ridge project grid was completed by Fender Geophysics to infill existing open-source regional gravity coverage and assist in the interpretation of the granodiorite-hornfels contact.
Trafalgar Prospect
Flynn Gold was offered an Exploration Drilling Grant Initiative (EDGI) Program Grant to the value of up to $50,000, for a proposed 600 metres diamond drill hole at the Trafalgar prospect, Golden Ridge with Mineral Resources Tasmania.
The drill hole is planned to intersect the granodiorite-sediment contact below the only other previous diamond drill hole at the prospect.
The historic hole, which did not reach the sediment contact, intersected quartz veining in altered granodiorite, with a zone containing visible gold assayed 5.0 metres at 12.56 g/t gold from 202 metres, and a lower interval closer to the granite-hornfels contact of 6.0 metres at 1.68 g/t gold from 217.0 square metres.
Unsampled portions of the altered granodiorite above the known gold mineralisation have since been sampled by Flynn Gold and submitted for assay to determine if the intrusive contains low-level gold mineralisation over broader intervals.
Assay results are anticipated in the coming weeks.
Cameron Tin Project review
Flynn Gold has commenced a review of the tin exploration potential within its Cameron Tin Project, in the Gladstone area in northeast Tasmania, which has seen historical tin exploration and mining.
The company’s predecessor completed limited tin exploration in the area, including reconnaissance sampling at Star Hill and soil surveys at Hardens Ravine, which returned encouraging results with sheeted quartz-tin-tungsten veining identified at Star Hill and tin-tungsten bearing greisen mineralisation at Hardens Ravine.
Follow-up reconnaissance mapping and sampling was recently commenced by Flynn Gold with initial assays anticipated to be received in the coming quarter.
Flynn Gold holds the Cameron Tin project (EL 18/2016), which also incorporates the southern extension of the Portland orogenic gold system (EL 11/2012).