Flynn Gold Strikes Exceptional 2,450g/t Silver at Silver King

Flynn Gold Limited (ASX: FG1) has delivered stunning debut performance at its Silver King prospect in Tasmania, with the first drilling results revealing exceptional silver grades of up to 2,450g/t alongside significant base metal mineralisation. The maiden drill hole represents the first modern drilling at the historic Silver King mine in approximately 80 years, marking a pivotal moment for the company's Henty Silver-Lead-Zinc Project.

The initial assay results from drill hole SKDD001 have exceeded expectations, delivering intercepts that align with historically reported high-grade silver production from the area. Furthermore, with three drill holes now completed and additional results pending, Flynn Gold is positioning itself as a serious player in Tasmania's mineral-rich west coast region. These Flynn Gold Silver King mine results demonstrate the significant potential for expanding the known mineralisation footprint.

Outstanding Maiden Drilling Results

Flynn Gold's first drill hole at Silver King has delivered remarkable results that validate the company's exploration strategy. The Flynn Gold Silver King mine results have exceeded all expectations, establishing a new benchmark for the project's potential.

Key Intercepts from SKDD001:

• 1.0m @ 1,020g/t silver (33oz/t), 15.2% lead, 4.7% zinc from 101.0m depth
• Peak grade of 0.4m @ 2,450g/t silver (79oz/t), 29.5% lead, 9.0% zinc from 101.2m
• Additional intercept of 2.47m @ 35.19g/t silver, 0.90% lead, 1.18% zinc from 139.68m

"Receiving this first high-grade result from our maiden hole at Silver King is an exceptional start to the program. It demonstrates the potential for the historically mined mineralisation to continue at depth along the Silver King Mine Trend, which runs for 1.6 kilometres through our licence," said Neil Marston, Managing Director.

The grades align remarkably well with historical mining records, which reported silver grades of 25-45oz/t (780-1,400g/t) at Silver King. Additionally, local grades reaching 100oz/t (3,110g/t) at the nearby South King mine provide further validation of the area's exceptional potential.

Understanding High-Grade Silver Mineralisation

What is high-grade silver mineralisation?

High-grade silver mineralisation refers to ore bodies containing exceptionally concentrated silver content, typically measured in grams per tonne (g/t) or ounces per tonne (oz/t). Flynn Gold's results of up to 2,450g/t silver represent world-class grades that are significantly above typical commercial silver mining thresholds.

For context:

• Commercial silver mines typically operate with grades of 100-300g/t silver
• High-grade operations often target 500-1,000g/t silver
• Exceptional deposits like Flynn Gold's results exceed 1,000g/t silver

Why this matters for investors

High-grade silver mineralisation translates directly to higher profit margins, lower processing costs per ounce of silver produced, and potentially faster payback periods for mining operations. Consequently, the combination of silver with valuable base metals (lead, zinc, copper) creates additional revenue streams and enhances project economics.

Strategic Drilling Program Advances

Flynn Gold's systematic approach to exploring the Silver King Mine trend demonstrates strong technical execution. The company has methodically targeted areas with the highest potential for discovering extensions to the historical high-grade mineralisation.

Current Drilling Status:

• Three holes completed (SKDD001-003) totalling 610.5 metres
• Fourth hole (SKDD004) in progress at South King prospect
• Target: Up to 6 holes for approximately 1,200 metres total
• 1.6km strike length of prospective Silver King Mine trend

Drill Hole Specifications:

The drilling strategy targets down-plunge and strike extensions of historically mined high-grade silver-lead-zinc mineralisation. Moreover, the program focuses on two key mining centres: the Silver King and South King-Zeehan Bell mines located approximately 1km apart.

Historical Context and Modern Validation

The Silver King Mine trend represents one of Tasmania's most historically productive silver mining areas, with operations dating from the late 1880s to early 1900s. The area features north-northwest striking zones of steeply dipping silver-rich galena-sphalerite fissure veins.

Historical Production Highlights:

• Silver King mine: 25-45oz/t (780-1,400g/t) average silver grades
• South King mine: Up to 100oz/t (3,110g/t) silver from high-grade shoots
• Underground workings: Developed to approximately 76m depth
• Limited modern exploration: Only one drilling campaign by North Broken Hill Limited in 1947

Flynn Gold's modern drilling program represents the first systematic exploration in nearly 80 years, utilising advanced diamond drilling techniques and contemporary analytical methods. In addition, this modern approach allows for validation and extension of the historical mineral system with unprecedented precision.

Project Pipeline and Near-Term Catalysts

Flynn Gold has established a clear roadmap for advancing the Silver King discovery. The company's strategic approach ensures systematic progression from initial results to potential resource development.

Immediate Activities (Next 4-8 weeks):

1. Complete remaining drill holes in current program
2. Receive additional assay results from SKDD002 and SKDD003
3. Progress field mapping and surface sampling programs
4. Integrate geological data to refine targeting models

Short-Term Expansion (Next 3-6 months):

• Move drilling rig to Grieves Siding prospect for additional testing
• Extend exploration along the 1.6km Silver King Mine trend
• Evaluate resource potential based on combined drilling results
• Assess metallurgical characteristics of mineralisation

Strategic Development Timeline:

• Q2 2026: Complete initial drilling campaign and data integration
• Q3 2026: Resource definition drilling if warranted by results
• Q4 2026: Preliminary economic assessment of development scenarios

The Flynn Gold Silver King mine results continue to support an aggressive exploration timeline, with each phase building upon previous discoveries.

Financial Position and Market Opportunity

Flynn Gold maintains a strong financial position to execute its exploration strategy. The company's conservative financial management provides substantial operational flexibility during this critical exploration phase.

Capital Structure:

• Share price: $0.02
• Market capitalisation: $12.2 million
• Cash position: $3.45 million (as of 31 December 2025)
• Debt: Nil
• Shares on issue: 608.6 million

The company's debt-free balance sheet and substantial cash reserves provide financial flexibility to advance multiple projects simultaneously while maintaining operational independence.

Silver Market Context:

Silver prices have demonstrated strong fundamental support driven by industrial demand growth, particularly in renewable energy applications and electronic manufacturing. High-grade silver projects like Silver King benefit from:

• Premium pricing for high-purity silver concentrates
• Multiple revenue streams from base metal co-products
• Strategic metal classification in critical minerals policies

Why Investors Should Follow Flynn Gold

Flynn Gold has positioned itself as an emerging force in Tasmanian mineral exploration with several compelling investment attributes. The Flynn Gold Silver King mine results represent just the beginning of what could be a transformational discovery for the company.

1. Proven High-Grade Discovery

The maiden drilling results at Silver King demonstrate world-class silver grades that validate the company's geological understanding and targeting methodology. Furthermore, the consistency with historical mining grades provides confidence in the mineral system's continuity.

2. Extensive Portfolio Upside

Beyond Silver King, Flynn Gold controls a diversified portfolio across Tasmania and Western Australia:

• 10 tenements in northeast Tasmania (gold, tin, tungsten prospective)
• Henty silver-lead-zinc project on Tasmania's west coast
• Firetower project (tungsten, gold, critical metals)
• Pilbara and Yilgarn region assets in Western Australia

3. Systematic Exploration Approach

The company's methodical drilling strategy, modern analytical techniques, and professional geological interpretation demonstrate professional management and technical competence. Consequently, these factors are essential for exploration success and investor confidence.

4. Financial Strength and Strategic Flexibility

With $3.45 million cash and no debt, Flynn Gold can fund aggressive exploration programs while maintaining strategic optionality. In addition, this financial strength enables the company to pursue partnerships or acquisitions when opportunities arise.

Investment Catalyst Timeline:

Flynn Gold has delivered exceptional debut performance at Silver King with silver grades reaching 2,450g/t, validating the potential for a significant high-grade silver discovery in Tasmania's mineral-rich west coast. With additional assay results pending, a strong cash position, and systematic exploration methodology, Flynn Gold represents a compelling opportunity for investors seeking exposure to high-grade precious metals exploration with substantial upside potential.

The combination of world-class initial results, extensive regional prospectivity, and professional management positions Flynn Gold as a company demanding close investor attention. However, as the drilling program progresses and more Flynn Gold Silver King mine results emerge, the full extent of this discovery's potential will become clearer.

Could Flynn Gold Be Your Next High-Grade Silver Discovery?

Flynn Gold's exceptional debut results at Silver King, with silver grades reaching 2,450g/t, represent just the beginning of what could be a transformational discovery. With additional drilling results pending, a robust cash position of $3.45 million, and systematic exploration across Tasmania's mineral-rich terrain, the company is well-positioned for continued success. Don't miss the opportunity to follow Flynn Gold's progression as they unlock the full potential of their high-grade silver mineralisation. Visit www.flynngold.com.au to discover more about their compelling investment story and upcoming catalysts that could drive significant value creation.