Heartened by several strong assay results received to date, Flynn Gold Ltd (ASX:FG1) has wasted no time in launching a second phase of drilling at its Golden Ridge project in north-east Tasmania.
An initial phase was completed in February, with seven diamond drill holes completed at the project’s Trafalgar prospect. Previous drilling in the area had been successful and includes the best gold intersection to date at Golden Ridge, measuring 12.3 metres at 16.8 grams per tonne (g/t) gold from 108.7 metres in hole TFDD005.
This first-phase work intersected high-grade gold in multiple zones across a strike length of 200 metres and at depths up to 400 metres, which Flynn Gold believes is confirmation of a significant new gold discovery. While Trafalgar’s main gold-bearing zones — T1, T2, TM and T4 — remain open along strike and at depth, several batches of core samples are yet to be analysed.
“The latest assays reveal further significant gold intersections, in addition to the exceptional results previously reported for this hole,” Flynn Gold chief executive Neil Marston said.
“This is a clear indication of the growing scale and significant potential of the multi-vein system at Trafalgar.”
Second phase begins
With the second phase underway, an initial hole — TFDD009, designed to test western extensions of the Trafalgar vein system — has already been completed to a depth of 213 metres. Though core samples from 179 metres to 213 metres have been sent for analysis, much of the hole still needs to be logged and cut.
Now, hole TFDD010 is being drilled to test the eastern and depth extensions of the high-grade mineralisation found in hole TFDD005B.
Flynn Gold then plans to extend the existing TFDD008 hole with the aim of intercepting the T1 mineralised zone.
“The Trafalgar discovery emphasises the potential of the Golden Ridge project to host additional gold deposits which collectively enhance the company’s aim of establishing a significant gold mineral resource at the project,” Marston added.
“The company is awaiting laboratory assays for over 500 core samples from phase one and the first hole on phase two drilling and we look forward to updating the market with these results as they become available over the coming weeks.”
Written by Oliver Gray.