Flynn Gold (ASX:FG1) Ltd has identified a large orogenic gold system at its Portland Gold Project in Tasmania following a detailed geological and structural analysis review based on assays from a diamond drilling program undertaken in 2020.
The Australian-based mineral exploration company is targeting gold in WA’s Pilbara region and northeast Tasmania, where it wholly owns its projects.
The company considers itself to have an ‘early-mover advantage’ in its Tasmanian gold projects which have been interpreted as an extension of the Victorian Goldfields region, with geology similar to that hosting the high-grade Bendigo, Ballarat and Fosterville gold camps.
Highlight assay results from the 2020 diamond drilling project include:
- 1.4 metres at 9.66 g/t gold from 45.6 metres, including 0.6 metres at 20.3 g/t from 45.6 metres;
- 0.5 metres at 12.75 g/t from 18.4 metres and;
- 0.8 metres at 2.0 g/t from 8.2 metres.
Geological and structural analysis
The company undertook detailed geological and structural analysis and review in conjunction with Victorian orogenic gold expert and consultant Dr Rodney Boucher.
This review has significantly improved FG1’s understanding of the stratigraphic and structural controls to high-grade gold mineralisation at the Portland Gold Project.
With the aid of experts, the company was able to confirm the presence of stratigraphic and structural settings prospective for gold mineralisation at Portland, with strong similarities to Victorian-style orogenic gold systems.
Five prospective tightly folded anticlines with a total combined strike length of 38 kilometres have been identified at Portland.
Of these, the Rushy Lagoon Anticline is considered a standout priority, with historical high-grade gold prospects and anomalous gold-arsenic-antimony occurring along the length of its 10-kilometre strike.
Unlike many of the Victorian gold trends, Portland is at a very early stage of exploration with less than 5% of the strike tested by artisanal mining or shallow drilling.
Ongoing exploration
Flynn will use its increased understanding of the geology and stratigraphy underpinning mineralisation in the area to target ongoing exploration efforts at the project.
Exploration at Portland is still in its infancy and Flynn Gold considers the outcomes of the maiden diamond drilling and geological review to be encouraging.
Confirmation of a district-scale gold system with favourable conditions for high-grade gold mineralisation lead FG1 to believe there is considerable potential to discover a large-scale high-grade gold system at Portland.
FG1 is preparing to expand its exploration drilling programs and is planning step-out, infill and deeper drilling at Portland to further scope the extent of the mineralising system.