Flynn Gold (ASX:FG1) Ltd has intersected visible gold in first assays from diamond drilling at Brilliant Prospect within the Golden Ridge Project in northeast Tasmania.
Assays from diamond drill hole BRD002 have returned 26.5 metres at 1.0 g/t gold from 79 metres, including 5.5 metres at 2.7 g/t from 95 metres and 0.5 metres at 12.2 g/t from 99.5 metres.
Visible gold has been intersected in three of the six holes drilled to date with assays awaited for remaining BRD002 samples and all other holes.
In other strong news from Golden Ridge, Flynn’s recently completed gradient array induced polarisation (IP) survey has identified large-scale chargeability anomalies coincident with anomalous gold in rock and soil sampling.
Shares are up more than 13% to 17 cents on the news from Tasmania.
Hosted by quartz-sulphide veining
Flynn is targeting Intrusion Related Gold System (IRGS) style mineralisation at the Golden Ridge Project covering 167 square kilometres.
Gold mineralisation at the Brilliant prospect is hosted by quartz-sulphide veining developed within granodiorite and the enclosing hornfelsed turbiditic sediments.
Since acquiring Golden Ridge in 2019, the Flynn Gold team has undertaken extensive data review and reconnaissance mapping and sampling programs over the tenement.
Positive results from surface rock chip sampling have indicated that the gold mineralisation system at Golden Ridge is more extensive than previously recognised and the company has defined multiple prospects over an 8-kilometre-long zone that it plans to test.
Drill program
Flynn began diamond drilling at Brilliant in late April with the initial program planned to comprise at least 4,100 metres.
This program comprises both infill and step-out drill holes designed to confirm historical gold grades, test continuity of mineralisation, provide structural data and test for strike extensions to known mineralisation.
To date, five drill holes have been completed for a total of 1,463 metres, with the sixth hole in progress.
Drill hole location map at Golden Ridge - Brilliant Prospect.
Drilling results
Results represent assays from a partial sampling of diamond drill hole BRDD002, which was prioritised for sampling and assaying following observation of fine-grained visible gold in the drill core.
BRDD002 intersected broad zones of moderate-intensity sheeted quartz-sulphide veining with other significant intersections including:
- 5.5 metres at 0.28 g/t gold from 117.5 metres; and
- 5 metres at 0.49 g/t from 143 metres.
The overall grade and width of the BRDD002 mineralised intercepts are consistent with historical intersections and support Flynn Gold’s ongoing exploration strategy for the Brilliant prospect.
Visible gold has also been intersected in two other holes from the program – BRDD-003 and BRDD-006.
Visible gold associated with arsenopyrite from 195 metres and 157.2 metres in hole BRDD-003.
Visible gold from 30.8 metres and 31.1 metres in drill hole BRDD-006.
GAIP survey
A 37 line-km gradient array induced polarisation (GAIP) survey has been completed by Khumsup Geophysics over the main target areas at Golden Ridge during July-August 2021.
Preliminary interpretation of the GAIP survey results shown indicates that extensive zones of anomalous chargeability are associated both with areas of known mineralisation as well as areas yet to be explored.
Furthermore, the results from the GAIP survey are encouraging and Flynn Gold plans to extend the survey to the west, south and east in the 2021-22 summer field season.
- Ephrems Joseph