Flynn Gold Commences Drilling at High-Grade Grenadier Gold Prospect
Flynn Gold (ASX: FG1) has kicked off its maiden diamond drilling program at the promising Grenadier Prospect within its 100%-owned Golden Ridge Project in Northeast Tasmania, targeting high-grade gold mineralisation previously identified in surface trenching.
Drilling Targets High-Grade Gold with Exceptional Recovery Rates
Flynn Gold starts drilling program at Grenadier with the first hole (GNDD001) already in progress, testing the down-dip extension of previously reported high-grade gold mineralisation in Trench 9. Recent bulk sampling from this trench delivered impressive results of 10.5g/t Au with 95% gold recovery using conventional cyanide leach testing.
The planned program will initially comprise five diamond drill holes totalling approximately 600 metres, designed to test the down-dip continuity of high-grade gold mineralisation previously discovered in surface trenches.
"Our Grenadier Prospect is a compelling recent greenfields gold discovery within our broader Golden Ridge Project, and we're excited that drilling is now underway to unlock its full potential," said Managing Director and CEO Neil Marston.
Previous Trenching Results Highlight Significant Gold Potential
The Flynn Gold drilling program at Grenadier follows highly encouraging results from previous trenching, which exposed significant gold mineralisation in northeast-trending quartz-sulphide veins mapped over a strike length of at least 300 metres. Highlight results from previous trenching include:
| Trench | Intercept | Including |
|---|---|---|
| Trench 3 | 1.3m @ 6.6g/t Au | 0.4m @ 17.7g/t Au |
| Trench 4 | 2.3m @ 4.2g/t Au | 0.4m @ 11.0g/t Au |
| Trench 11 | 0.6m @ 13.8g/t Au | – |
| Trench 13 | 6.0m @ 0.7g/t Au | 0.2m @ 12.3g/t Au |
Expanding Exploration Footprint
Alongside the drilling program, Flynn Gold has commenced a new trenching program to test the previously unexplored southeastern portion of the 1km × 1km gold-in-soil anomaly that defines the Grenadier Prospect. This trenching work is targeting potential northeast-striking quartz-sulphide veins sub-parallel to those being drill-tested, which may provide additional drill targets near top producers.
"Grenadier represents a largely untested gold system defined by a broad 1km × 1km gold-in-soil anomaly. Trenching over gold-in-soil anomalies has proven to be an extremely effective and efficient discovery tool at Golden Ridge," Marston explained.
Understanding Intrusive-Related Gold Systems
As Flynn Gold starts drilling program at Grenadier, it's important to understand the type of gold deposit being targeted. The gold mineralisation at Grenadier represents a classic example of an Intrusive-Related Gold System (IRGS).
This type of deposit is characterised by gold mineralisation hosted in or near intrusive rocks, typically in the form of quartz veins containing sulphide minerals like arsenopyrite and pyrite.
At Grenadier, the gold is hosted in steeply dipping, northeast-striking quartz veins containing arsenopyrite and pyrite, consistent with mineralised veining observed throughout the broader Golden Ridge Project area. The prospect is located on the western margin of the Golden Ridge Granodiorite intrusion, on the opposite side to Flynn's most advanced prospect, Trafalgar.
IRGS deposits can form significant gold resources and often feature high-grade veins alongside broader, lower-grade mineralised zones, making them attractive exploration targets.
Trafalgar Prospect Update Shows Expanding Mineralisation
In addition to the Grenadier drilling, Flynn Gold has completed its Phase 4 drilling program at the Trafalgar Prospect within the Golden Ridge Project. Results from two holes at Trafalgar North (TFDD021 and TFDD022) have confirmed the extension of mineralisation along strike, with TFDD022 returning 2.0m @ 1.2g/t Au from 35m, extending the mineralised footprint by approximately 60m to the northeast.
Four additional drill holes have been completed at the Trafalgar Main Zone (TFDD023-TFDD026), with assays pending. This program comprised in-fill and extensional drilling designed to increase geological confidence in the current Exploration Target and support future Mineral Resource estimation.
Investment Potential: A Strategic Position in Tasmania's Gold Fields
As Flynn Gold starts drilling program at Grenadier, the company has strategically positioned itself with its 100%-owned Golden Ridge Project in Northeast Tasmania, which has demonstrated exceptional gold grades and recovery rates. The company's exploration approach—systematically testing high-grade gold discovery targets—is helping to determine the value across multiple prospects.
Key aspects that make Flynn Gold an attractive investment consideration include:
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High-grade gold with excellent recovery: Recent metallurgical testing showed 95% gold recovery from conventional cyanide leach testwork on samples averaging 10.5g/t Au.
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Multiple growth prospects: With active exploration at both Grenadier and Trafalgar, Flynn has a pipeline of targets within its 167km² Golden Ridge Project.
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Systematic exploration approach: The company is efficiently progressing from soil sampling to trenching to drilling, reducing risk at each stage.
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Strong financial position: With $1.02 million cash (as of March 31, 2025) and no debt, Flynn is funded to continue its targeted exploration programs.
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Favourable mining jurisdiction: Tasmania offers a stable regulatory environment for mining development.
Why Investors Should Track Flynn Gold
Flynn Gold represents an opportunity for investors interested in early-stage gold exploration with multiple potential catalysts on the horizon. The company has made a significant greenfields discovery at Grenadier and is systematically advancing it toward resource definition.
With results pending from multiple drill holes at Trafalgar and ongoing drilling at Grenadier, investors can expect a steady flow of news that could impact the company's valuation. The high-grade gold mineralisation and excellent metallurgical recoveries further enhance the economic potential of Flynn's projects.
At a market capitalisation of just $11.3 million, Flynn Gold offers exposure to a potentially significant gold system in a favourable mining jurisdiction, with near-term catalysts and an experienced technical team guiding exploration.
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