Flynn Gold Limited (ASX: FG1) has delivered impressive results from its maiden diamond drilling programme at the Double Event Prospect, part of the company's 100%-owned Golden Ridge Project in northeast Tasmania. The Flynn Gold high-grade gold discovery has successfully intersected exceptional mineralisation, with standout results including 35.1g/t Au and multiple significant intervals exceeding industry-grade thresholds.
Maiden Drilling Delivers Exceptional High-Grade Intersections
Flynn Gold's nine-hole diamond drilling programme at Double Event has confirmed the presence of substantial gold mineralisation extending to depths of at least 72 metres below surface. The programme targeted quartz-sulfide veins identified through historical records and recent trenching work.
Key drilling highlights include:
| Hole ID | Interval | Grade | High-Grade Zones |
|---|---|---|---|
| EVDD006 | 2.5m @ 6.3g/t Au from 37.3m | 6.3g/t Au | 0.3m @ 22.2g/t Au and 0.25m @ 35.1g/t Au |
| EVDD003 | 1.8m @ 1.9g/t Au from 43.2m | 1.9g/t Au | 0.3m @ 9.9g/t Au |
| EVDD001 | 1.1m @ 2.9g/t Au from 32.8m | 2.9g/t Au | 0.55m @ 5.1g/t Au |
| EVDD002 | 0.4m @ 7.0g/t Au from 53.7m | 7.0g/t Au | Single high-grade interval |
The drilling programme demonstrates 100% success rate, with every hole intersecting the targeted mineralised structures. This provides strong confidence in the geological model and continuity of the gold system.
"The maiden drill program at Double Event has delivered high-grade gold vein intersections, with assay grades of up to 35.1 grams of gold per tonne. The drilling has also confirmed that the targeted sulphide-bearing quartz vein system extends down-dip from the high-grade intervals exposed in recent surface trenching." – Neil Marston, Managing Director and CEO
Understanding Intrusive-Related Gold Systems (IRGS)
For investors new to gold exploration, the Flynn Gold high-grade gold discovery sits within what geologists classify as an Intrusive-Related Gold System (IRGS). These systems form when gold-bearing fluids are expelled from cooling granite intrusions, creating mineralised zones along the contact between the granite and surrounding rocks.
Why IRGS systems matter to investors:
- Typically host large-scale, long-lived gold deposits
- Often feature multiple parallel vein systems across extensive strike lengths
- Can support both high-grade underground and bulk-tonnage open-pit mining operations
- Flynn's Golden Ridge system extends over 9 kilometres along the granite contact zone
Furthermore, the Double Event discovery strengthens Flynn Gold's thesis that the Golden Ridge Project represents a district-scale IRGS. Multiple prospects are positioned along this extensive mineralised corridor.
Expanding the Golden Ridge Gold Corridor
Double Event sits 1 kilometre north of Flynn Gold's flagship Trafalgar Prospect. Previous drilling there has returned exceptional results including intersections of >100g/t Au. The successful drilling at Double Event, combined with expanding soil geochemical anomalies, builds compelling evidence for multiple sub-parallel mineralised zones.
The 9-kilometre Golden Ridge corridor continues to demonstrate significant potential through recent exploration activities.
Recent in-fill soil sampling has identified:
- Big Penny anomaly expansion: Results up to 74.7ppb Au extending the anomaly westward
- New anomaly southeast of Double Event: Including highly anomalous 103.5ppb Au values
- Trafalgar North expansion: Strongly anomalous results of 171.3ppb Au extending into the granodiorite interior
These soil results, combined with the drilling success, indicate significant potential for repetitive sub-parallel mineralised vein systems. This is consistent with large-scale IRGS architecture between known prospects.
Strategic Position Within Existing Exploration Target
Flynn Gold announced a JORC-compliant Exploration Target in November 2024 for the Golden Ridge Project. This encompasses 449,000 to 520,000 ounces of contained gold across the Trafalgar, Brilliant, and Link Zone prospects. Importantly, Double Event was not included in this Exploration Target calculation.
Current JORC Exploration Target:
- Tonnage Range: 3.5 to 5.4 million tonnes
- Grade Range: 3.0 to 4.0 g/t Au
- Contained Gold: 449,000 to 520,000 ounces
The successful drilling at Double Event represents additional upside potential beyond the existing Exploration Target. The previously announced Grenadier discovery also contributes to this upside. Flynn Gold's 2025 exploration strategy focuses on growing this target through systematic testing of the extensive Golden Ridge corridor.
Immediate Growth Opportunities
Flynn Gold has identified multiple near-term catalysts to advance the Flynn Gold high-grade gold discovery at Double Event:
Untested high-grade targets: High-grade intervals exposed in Trenches 8 and 9 remain untested by drilling. These represent immediate priority targets with confirmed surface mineralisation.
Additional vein systems: Recent rock-chip sampling north of the current drilling area returned exceptional results. Values of 11.9g/t Au and 14.6g/t Au indicate potential for additional high-grade quartz-sulfide veins.
Parallel mineralisation: The drilling has defined two discrete quartz veins within a 30-metre wide corridor. This corridor contains additional sub-parallel veins and veinlets, suggesting significant expansion potential.
Outstanding assay results: Three drill holes (EVDD007-009) remain pending assay results. These offer potential for additional high-grade intersections.
What Makes This Discovery Significant?
The Flynn Gold high-grade gold discovery at Double Event demonstrates several key advantages. Firstly, the consistent high-grade intersections validate the geological model. Secondly, the 100% drilling success rate provides confidence in future exploration efforts.
Moreover, the discovery extends the proven mineralisation beyond the established Trafalgar Prospect. This expansion significantly enhances the overall project value and exploration potential.
Financial Position and Funding Runway
Flynn Gold strengthened its financial position in October 2024. The company raised $5.0 million (before costs) to fund its aggressive exploration programme across the Golden Ridge and Mangana projects. With $0.38 million cash reported at 30 September 2024, plus the recent capital raising, the company is well-positioned to advance multiple high-priority targets.
Key Financial Metrics:
- Share Price: $0.02
- Market Capitalisation: $12.2 million
- Cash Position: $0.38M (Sept 30) + ~$5.0M (Oct raising)
- Debt: Nil
- Shares Outstanding: 608.6 million
The strong financial position provides Flynn Gold with an extended exploration runway. This funding enables the company to systematically test multiple targets across its extensive project portfolio.
Why Investors Should Follow Flynn Gold
Flynn Gold has established itself as a significant player in Tasmania's resurgent gold exploration sector. The company boasts multiple high-grade discoveries across an extensive 9-kilometre mineralised corridor. The Double Event success, combined with the company's systematic approach to testing the Golden Ridge IRGS, positions Flynn Gold as a compelling growth story.
Investment highlights:
- District-scale opportunity: 9km of prospective ground with multiple prospects
- High-grade intersections: Consistent delivery of >100g/t results across the project
- Proven exploration success: 100% drilling success rate at Double Event
- Systematic expansion: In-fill soil sampling continuously expanding target areas
- Well-funded programme: Recent $5M raising provides 18+ month exploration runway
- Experienced management: Strong track record in Tasmanian gold exploration
With drilling now commenced at the nearby Mangana Project and pending assay results from Double Event, Flynn Gold offers investors exposure to multiple near-term catalysts. The company operates in one of Australia's most prospective gold regions.
Future Exploration Strategy
Flynn Gold's approach to developing the Flynn Gold high-grade gold discovery follows a systematic methodology. The company continues to expand known mineralised zones through targeted drilling programmes. Additionally, soil sampling programmes continue to identify new exploration targets.
The integrated exploration strategy maximises the potential for additional discoveries along the Golden Ridge corridor. This approach has already delivered consistent success across multiple prospects.
Flynn Gold has positioned itself as a major player in Tasmania's gold sector, with significant upside potential due to its district-scale Golden Ridge IRGS and systematic exploration approach. With multiple high-grade discoveries and upcoming milestones across 2025, investors should keep a close eye on Flynn Gold's development trajectory.
Could Flynn Gold Be Your Next High-Grade Gold Investment Opportunity?
With exceptional drilling results delivering up to 35.1g/t Au and a 100% success rate across the maiden programme, Flynn Gold's Double Event discovery represents just one piece of a much larger puzzle. The company's systematic exploration across the 9-kilometre Golden Ridge corridor continues to unlock value, with multiple untested high-grade targets and pending assay results that could further expand this district-scale opportunity. To explore Flynn Gold's full project portfolio, review detailed drilling data, and understand the investment opportunity behind Tasmania's emerging gold story, visit www.flynngold.com.au and discover why this ASX-listed explorer is positioning itself as a significant player in Australia's gold sector.
