Flynn Gold Ltd (ASX:FG1) has welcomed the latest high-grade gold results from ongoing drilling at the Trafalgar prospect, part of the company’s Golden Ridge Project in northeast Tasmania, with a positive response from investors as well.
“This maiden drill hole at the Trafalgar Prospect has delivered an excellent outcome for Flynn Gold, with the company intersecting multiple zones of high-grade gold,” CEO Neil Marston enthused.
The strong results have seen shares rise as much as 28.57% this morning to $0.135.
Highlights
Strong intersections have been recorded from the first drill hole, including:
- 4.3 metres at 4.34 g/t gold from 594.7 metres including 2.05 metres at 7.28 g/t from 594.7 metres, which also included 0.4 metres at 17.3 g/t from 594.7 metres and 0.75 metres at 10.15 g/t from 596 metres;
- 9 metres at 2.28 g/t from 289 metres, including 5.7 metres at 3.46 g/t from 292.3 metres, which also included 1.8 metres at 5.58 g/t from 292.3 metres, 0.6 metres at 12.7 g/t from 293.5 metres, and 1-metre at 6.69 g/t from 297 metres; and
- 1.3 metres at 2.37 g/t gold from 250.7 metres, including 0.4 metres at 6.68 g/t from 250.7 metres.
“Trafalgar is the first location at Golden Ridge where the intrusive-hornfels contact has been drill tested since Flynn Gold listed in 2021.
Significant gold system
“This geological contact has been identified over an 8-kilometre strike length, providing the exploration team with confidence that the Golden Ridge Project has the potential to become a significant gold system,” he said.
The latest gold intervals add to previously reported significant assays including:
- 5.4 metres at 10.63 g/t gold from 160.1 metres, including 1.9 metres at 19.88 g/t from 160.1 metres, which in turn included 0.4 metres at 52.2 g/t from 161.6 metres); and
- 2 metres at 9.02 g/t gold from 163.5 metres, including 0.35 metres at 35.1 g/t from 165.15 metres.
Subsequent drilling, which is in progress, is testing for extensions to the gold mineralisation encountered over a strike length of 250 metres.
Discrete high-grade assay intervals within the broader anomalous zones from the latest assays confirm most earlier observations of visible gold associated with zones of quartz-sulphide veining and breccia.
Further sample assays remain pending from the Trafalgar drilling, in addition to results from other recently completed programs.