FLYNN Gold Ltd
- ASX Code: FG1
- Market Cap: $12,781,761
Flynn Gold Strikes Deep: First 2026 Drill Hole Confirms High-Grade Gold-Tungsten System Extends Beyond 200 Metres
Flynn Gold (ASX: FG1) has reported first assay results from its 2026 drilling campaign at the Firetower Project in northern Tasmania, confirming that Flynn Gold Firetower deep gold tungsten drill results demonstrate the project's high-grade polymetallic mineral system extends at least 80 metres below previous drilling and remains open at depth and along strike.
The headline intercept from hole 2019FTD014E returned 9.64m at 2.49g/t gold, 0.29% WO₃, 0.52% copper, 0.04% cobalt and 9.9g/t silver from 200.13m, including a high-grade sub-interval of 1.47m at 4.62g/t gold, 1.10% WO₃ and 2.20% copper. According to the announcement, this result points to depth continuity in the mineral system as well as an emerging copper signature that adds an additional dimension to the project's multi-commodity profile.
With a market capitalisation of $12.8 million, no debt, and $2.48 million in cash as of 31 March 2026, Flynn Gold is a tightly capitalised explorer sitting on a polymetallic system still being defined through ongoing drilling.
"These impressive first assay results represent another significant step in defining the scale of the Firetower mineral system, significantly strengthening our confidence that high-grade gold and tungsten continues at depth below previous drilling," said Neil Marston, Managing Director and CEO of Flynn Gold.
When big ASX news breaks, our subscribers know first
What the Drill Results Actually Show
Hole 2019FTD014E was not a conventional new hole. It was a re-entry and extension of historical hole 2019FTD014, which Flynn's geologists had interpreted as being terminated before reaching the main mineralised zone. According to the company, that interpretation has now been supported by the extension drilling.
The hole was extended from its original depth of 163.0m to 278.15m, adding 115.15m of new drilling. Assay results have been received for the priority mineralised zone between 183.65m and 215.65m, while results for the deeper interval from 215.65m to 248.8m remain pending, meaning further data from this hole is still to come.
Significant Intercepts, Hole 2019FTD014E
| Interval | From (m) | To (m) | Length (m) | Au (g/t) | WO₃ (%) | Cu (%) | Co (%) | Ag (g/t) |
|---|---|---|---|---|---|---|---|---|
| Main zone | 200.13 | 209.77 | 9.64 | 2.49 | 0.29 | 0.52 | 0.04 | 9.90 |
| Including | 200.13 | 203.90 | 3.77 | 4.30 | 0.30 | 0.37 | 0.05 | 11.24 |
| And | 208.30 | 209.77 | 1.47 | 4.62 | 1.10 | 2.20 | 0.07 | 29.42 |
| High-grade core | 208.30 | 208.60 | 0.30 | 16.65 | 4.28 | 8.74 | 0.25 | 106.0 |
| Deeper zone | 215.65 | 248.80 | 33.15 | Pending | Pending | Pending | Pending | Pending |
Intervals are reported as downhole lengths. True width has not yet been established but is estimated at approximately 85 to 95 percent of the reported intervals.
The 0.30m sample grading 16.65g/t gold, 4.28% WO₃, 8.74% copper and 106g/t silver from 208.3m illustrates the grade potential within the core of the system. Furthermore, the company noted that this interval corresponds to chalcopyrite-pyrite-scheelite mineralisation observed in drill core photography under both white and ultraviolet light.
Understanding the Polymetallic Nature of Firetower
What Is a Polymetallic Mineral System?
A polymetallic deposit contains economically significant concentrations of more than one metal. At Firetower, gold, tungsten (reported as WO₃), copper, cobalt and silver occur together within the same mineralised zones.
For investors, this matters because polymetallic systems can offer exposure to multiple commodities from a single project. Rather than relying on the price of one metal alone, a project hosting several metals may retain economic relevance even if one commodity price softens, provided the others hold up.
Tungsten and cobalt are both regarded as critical minerals used in defence, energy storage and advanced manufacturing applications, distinct from gold's traditional role as a store of value.
Glossary of Key Terms
| Term | Meaning |
|---|---|
| WO₃ | Tungsten trioxide, the standard form in which tungsten grades are reported |
| Scheelite | A tungsten-bearing mineral that fluoresces bright blue under UV light |
| Chalcopyrite | A copper-iron sulphide mineral, the primary source of copper in this system |
| g/t Au | Grams of gold per tonne of rock |
| Diamond drilling | A drilling method using a diamond-tipped bit to extract a cylindrical core sample |
| True width | The actual thickness of a mineralised zone, as distinct from the length measured along the drill hole |
| JORC | The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves |
How This Result Fits the Broader Firetower Picture
This result does not stand alone. Since acquiring the Firetower Project, Flynn Gold has undertaken re-logging, re-assaying and reinterpretation of historical drill core, much of which had never previously been assayed for tungsten, cobalt or copper. That work has underpinned the current drilling campaign.
Best Intercepts Across Flynn's Firetower Drilling Programme
| Hole | Interval | Au (g/t) | WO₃ (%) | Cu (%) | Co (%) |
|---|---|---|---|---|---|
| GP-90-10 | 3.0m from 10.0m | 17.20 | 1.10 | 0.47 | 0.02 |
| GP-90-10 | 17.0m from 7.0m | 4.06 | 0.21 | 0.10 | 0.04 |
| 2019FTD007E | 1.7m from 121.0m | 6.64 | 1.08 | 0.14 | 0.13 |
| 2019FTD007E | 17.0m from 121.0m | 2.31 | 0.51 | 0.16 | 0.16 |
| 2019FTD006 | 3.0m from 105.0m | 8.59 | 0.83 | 0.21 | 0.29 |
| 2019FTD014E | 9.64m from 200.13m | 2.49 | 0.29 | 0.52 | 0.04 |
| 2019FTD014E | 1.47m from 208.3m | 4.62 | 1.10 | 2.20 | 0.07 |
According to Flynn Gold, this recurring pattern — broad polymetallic envelopes hosting discrete zones of high-grade gold-tungsten mineralisation — is consistent with a repeatable mineral system. Hole 2019FTD014E confirms this style of mineralisation extends to depths exceeding 200 metres vertical, approximately 83 metres down-dip of hole 2019FTD007E.
The Flynn Gold Firetower deep gold tungsten drill results have consequently traced the mineral system over approximately 250 metres of strike length and to 200 metres vertical depth, with the company stating it remains open in both directions.
The 2026 Drilling Programme: What's Still to Come
Approximately 520 metres of a planned 1,600-metre programme have been completed to date. Three holes have been drilled, with two awaiting assay results.
2026 Programme Status
| Hole | Status | Purpose |
|---|---|---|
| 2019FTD014E | Assays received (deeper zone pending) | Down-dip extension |
| FT-2026-001 | Completed, assays pending | Strike/dip extension |
| 2019FTD015E | Completed, assays pending | Strike/dip extension |
| Up to 7 further holes | Planned | Resource infill, expansion, metallurgical sampling |
Planned Activities for the Remainder of 2026
- Continue the drilling programme, including dedicated metallurgical core collection
- Commence metallurgical testwork on representative core samples
- Advance geological modelling toward a maiden Mineral Resource Estimate
- Review historical geophysical surveys across the broader Firetower Project area, where a 6km mineralised trend has been identified
The metallurgical testwork is a prerequisite for any Mineral Resource Estimate and, according to the company, marks a step forward in the project's progression from pure exploration toward resource definition.
The Investment Case for Flynn Gold
Why Firetower Warrants Investor Attention
Several factors distinguish this update from a routine exploration announcement. In particular, the Flynn Gold Firetower deep gold tungsten drill results carry weight for a number of specific reasons:
- Depth confirmation is a meaningful milestone. Establishing that high-grade mineralisation persists beyond 200 metres vertical depth supports the case for a larger-scale mineral system.
- The copper signal is new. The 1.47m at 2.20% copper and the 0.30m at 8.74% copper from 208.3m suggest copper enrichment at depth, a feature not prominently seen in shallower historical drilling.
- Two holes have results still pending, providing near-term catalysts within the current programme.
- Metallurgical sampling is being integrated into the drilling programme, supporting the pathway toward a Mineral Resource Estimate.
- The project sits within the Mt Read Volcanics, a mineral province in Tasmania that hosts several established mining operations.
- The company holds no debt, with $2.48 million in cash and a market capitalisation of $12.8 million as of the announcement date.
Flynn Gold at a Glance
| Metric | Value |
|---|---|
| ASX Code | FG1 |
| Share Price | $0.021 |
| Market Capitalisation | $12.8 million |
| Cash (31 March 2026) | $2.48 million |
| Debt | Nil |
| Ordinary Shares | 608.6 million |
| Project Ownership | 100% |
| Current Drill Programme | Up to 1,600m (10 holes) |
| Completed to Date | ~520m (3 holes) |
The next major ASX story will hit our subscribers first
Why Investors Should Watch This Story Closely
Flynn Gold's 2026 drilling campaign is testing extensions to the Firetower mineral system while building the dataset intended to support a maiden Mineral Resource Estimate. According to the company, that estimate, when delivered, would represent a material development for a company currently valued at under $13 million.
The combination of gold, tungsten, copper, cobalt and silver within a single coherent system — located in a historically productive mineral province — presents a differentiated exploration profile at a time when critical minerals and gold continue to attract investor interest.
Two drill holes await assay results, and a third has pending assays from its deeper interval. The geological model continues to be refined, and metallurgical work is being planned to help define the resource potential of the system.
Key Takeaway: The Flynn Gold Firetower deep gold tungsten drill results have confirmed high-grade gold-tungsten-copper mineralisation extending to depths of more than 200 metres, with the system remaining open for further testing. With up to seven more drill holes planned in 2026, pending assay results expected in coming weeks, and a maiden Mineral Resource Estimate targeted, the project offers several near-term milestones for investors to monitor.
Want to Learn More About Flynn Gold's High-Grade Discovery at Firetower?
Flynn Gold (ASX: FG1) is advancing one of Australia's most compelling small-cap polymetallic stories, with a high-grade gold-tungsten-copper system confirmed to depths exceeding 200 metres and a maiden Mineral Resource Estimate now firmly in sight. With two drill holes still awaiting assay results, up to seven further holes planned for 2026, and a market capitalisation of just $12.8 million, investors seeking early-stage exposure to a project with multiple near-term catalysts may want to take a closer look. Visit www.flynngold.com.au to explore the Firetower Project and stay across Flynn Gold's ongoing drilling developments.
