Flynn Gold Strikes Gold: Third High-Grade Vein Discovered at Grenadier Prospect
Flynn Gold (ASX: FG1) has announced the discovery of a third high-grade gold-bearing vein at its 100%-owned Golden Ridge Project in Northeast Tasmania, significantly expanding the potential scale of the mineralised system and boosting confidence in the project's gold endowment.
New G3 Vein Confirms Multi-Vein Gold System at Grenadier
Flynn Gold has identified a third gold-mineralised vein (the "G3 Vein") at the Grenadier Prospect, with rock-chip assays confirming high-grade gold mineralisation of 11.6g/t Au from a 1-meter in-situ vein outcrop. Additional float samples near the vein exposure returned 3.5g/t Au and 2.2g/t Au, further validating the significant gold-bearing nature of this newly discovered structure.
The G3 Vein discovery comes as part of the company's ongoing surface exploration program at the Golden Ridge Project and follows the previously identified G1 and G2 veins at the prospect. Together, these three major veins extend across a corridor approximately 150 meters wide with a strike continuity of at least 300 meters, significantly expanding the potential scale of the mineralised system.
Managing Director and CEO Neil Marston highlighted the significance of the discovery:
"The discovery of another high-grade gold-bearing quartz-sulphide vein at surface at Grenadier marks an important milestone in our exploration at Golden Ridge. The G3 vein is the third major vein to be identified at the prospect. Together with the previously defined G1 and G2 veins, the G3 vein significantly expands the potential scale of the mineralised system."
Potential Fourth Vein Points to Even Greater Gold Endowment
Adding to the excitement, a high-grade float sample assaying 17.9g/t Au located approximately 170 meters south of the G3 vein may represent a potential fourth vein in the system. This follows the same pattern as previous discoveries by Flynn Gold Ltd, where high-grade float samples led to the identification of the G1, G2, and G3 veins through trenching.
The ground between these veins remains largely untested and represents a priority target for follow-up exploration, suggesting significant potential for additional gold-bearing structures within the broader mineralised corridor.
Maiden Diamond Drilling Program Completed at Grenadier
The company has also successfully completed its Phase 1 diamond drilling program at the Grenadier Prospect, with seven holes drilled for a total of 874.3 meters. Processing of the drill core and sampling is well advanced, with assay results pending. The drill program was designed to test the high-grade gold mineralisation identified in previous surface trenching.
| Drill Hole | Easting | Northing | RL (m) | Azimuth | Dip | Depth (m) |
|---|---|---|---|---|---|---|
| GNDD001 | 582488 | 5418658 | 531 | 340 | 50 | 242.0 |
| GNDD002 | 582432 | 5418762 | 522 | 120 | 55 | 116.5 |
| GNDD003 | 582324 | 5418580 | 556 | 110 | 60 | 128.6 |
| GNDD004 | 582279 | 5418549 | 562 | 110 | 70 | 81.9 |
| GNDD005 | 582446 | 5418642 | 535 | 325 | 50 | 188.5 |
| GNDD006 | 582459 | 5418730 | 525 | 135 | 50 | 38.8 |
| GNDD007 | 582453 | 5418733 | 525 | 90 | 50 | 78.0 |
| 874.3 |
Understanding Intrusion-Related Gold Systems
The Golden Ridge Project is thought to host Intrusion-Related Gold System (IRGS) style mineralisation. These mineral systems form when gold-rich fluids are released from cooling magma and migrate along fractures and faults, eventually depositing gold and other minerals in veins, networks, and scattered zones.
These systems typically form predictable patterns of mineralisation around intrusive bodies (like the Golden Ridge Granodiorite), making them attractive exploration targets once the geological framework is understood. The presence of multiple parallel veins at Grenadier is characteristic of IRGS deposits, which often form stacked or adjacent vein sets with consistent orientations.
The association of gold mineralisation with quartz veins containing arsenopyrite and pyrite (quartz-sulphide veins) at Golden Ridge is also typical of IRGS deposits, which commonly have a distinctive metal association including gold, arsenic, bismuth, tellurium, and tungsten.
Future Plans and Exploration Upside
With the Phase 1 diamond drilling program at Grenadier now complete, Flynn Gold is set to commence drilling at the Double Event Prospect, where previous trenching intersected multiple high-grade gold-bearing quartz-sulphide veins over a 275-meter strike length.
Additional exploration plans include:
- Follow-up trenching at Grenadier to test for extensions of the G3 vein
- Investigation of the area around the 17.9g/t Au float sample to confirm the potential fourth vein
- Further trenching of the untested ground between the known veins
- Expanded soil sampling to identify additional vein targets
Why Investors Should Take Note of Flynn Gold
Flynn Gold represents an appealing investment opportunity for several compelling reasons:
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Multiple High-Grade Gold Discoveries: The identification of three confirmed gold-bearing veins and a potential fourth vein at Grenadier demonstrates the project's significant gold endowment potential.
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Systematic Exploration Approach: Flynn's methodical exploration strategy has delivered consistent results, progressing from soil sampling to trenching to drilling in a logical sequence.
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Strong Metallurgy: Preliminary metallurgical testwork on a bulk sample from Trench 9 returned an average grade of 10.5g/t Au with 95% gold recovery from conventional cyanide leach testwork, suggesting potentially simple processing requirements.
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District-Scale Potential: The broader Golden Ridge Project covers 167km² with gold mineralisation identified over a 9km strike length, providing numerous targets for future exploration.
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Favorable Gold Price Environment: As noted by CEO Neil Marston, "In the current environment of high gold prices, discovering multiple high-grade grade veins at Grenadier has the potential to significantly increase the gold endowment of both the prospect and the Golden Ridge Project overall."
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Strong Financial Position: With $1.2 million cash and no debt as of June 30, 2025, Flynn Gold is well-positioned to continue its focused exploration programs.
The multiple high-grade veins discovered at Grenadier, combined with the company's systematic exploration approach and strong financial position, position Flynn Gold as an emerging player in the Australian gold exploration space. With drilling results pending from Grenadier and upcoming drilling at Double Event, investors can expect a steady flow of news in the coming months that could potentially drive significant share price catalysts.
Recent discoveries by Flynn Gold Ltd across the Golden Ridge Project demonstrate the company's ability to identify and develop new mineralisation targets through a methodical, science-based approach. These consistent discoveries suggest considerable exploration upside remains across the company's tenement package.
Furthermore, Flynn's success echoes similar high-grade antimony discoveries in the mining sector, highlighting the potential for polymetallic mineralisation in these geological settings. The company's approach follows best practices seen in other successful exploration projects like the spectacular gold intercepts at comparable properties and recent high-grade gold strikes in Australia's gold-rich regions.
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