Flynn Gold Ltd (ASX:FG1) has intersected a shallow bonanza-grade gold intersection of 1.2 metres at 65.9 g/t during a diamond drilling program at Trafalgar prospect within the Golden Ridge Project in northeast Tasmania.
Encouragingly, this 1.2-metre intersection also includes a 0.5-metre interval grading 143 g/t from 57.5 metres.
Drill hole TFDD003 is the company’s second drill hole at Trafalgar, designed as a 100-metre step-out to the west of hole TFDD002.
Further priority assays are pending from TFDD003 for an additional vein structure intersected at 286-303 metres.
Drilling of the fourth hole, TFDD005, has kicked off this week testing for extensions of the mineralised zones approximately 100 metres east of the zones intersected in TFDD002.
Bonanza-grade interval
Flynn CEO Neil Marston said: “We are very pleased with these latest results from our second diamond drill hole at the Trafalgar prospect.
“What is most pleasing is that we have intersected a bonanza-grade interval at a shallow depth which at this early stage appears unrelated to the multiple vein zones intersected in our first drill hole, TFDD002.
"TFDD002 intersected multiple gold zones beneath the old Trafalgar mine workings."
Results summary
The first assay results from TFDD003 represent a partial sampling from zones in the upper 168 metres of the hole that were prioritised for assay following observation of mineralised vein zones in the drill core.
The selectively sampled intervals returned significant intervals including:
- 1.2 metres at 65.9g /t gold from 57.5 metres, including 0.5 metres at 143.0 g/t from 57.5 metres and 0.7 metres at 10.8 g/t from 58 metres;
- 1.3 metres at 2.28 g/t from 149.2 metres, including 0.5 metres at 5.26 g/t from 150 metres;
- 0.5 metres at 1.17 g/t from 152 metres; and
- 0.5 metres at 1.97 g/t from 154.75 metres.
Further assays from TFDD003 are pending, including additional zones of prioritised sampling of quartz-sulphide vein structures at 286-303 metres.
Marston adds: “Step-out drill hole TFDD003 was drilled to test for mineralisation about 100 metres west of the first hole, so these latest results enhance our view that there is potential for a significant mineralised gold system at Trafalgar.
“Hole TFDD004 was targeted below TFDD003 with similar vein zones intersected and our current drill hole, TFDD005, will test for continuation of these mineralised zones about 100 metres east of our first hole”
Forward plan
Drill hole TFDD004 was completed last week to a depth of 503.5 metres testing for extensions to the mineralised zones intersected in TFDD002 and TFDD003.
Logging and cutting of the core from TFDD004 is underway. Significant zones of mineralised vein structures at 85-100 metres, 184-191 metres, 297-300 metres and 474-478 metres have been noted in TFDD004 with assays pending.
Drilling of the fourth hole, TFDD005, commenced this week. This hole will be drilled to test for extensions of the mineralised zones about 100 metres east of the zones intersected in TFDD002.
Further drilling at Trafalgar to test the extensions and continuity of gold mineralisation is planned.
The company looks forward to updating the market on the results and analysis of these exploration activities as they become available.
Marston adds: “Trafalgar is the first location at Golden Ridge where the intrusive-hornfels contact has been drill tested by the company.
“This geological contact has been identified over an eight-kilometre strike length, demonstrating that the Golden Ridge Project has the potential to become a significant gold system.”