Flynn Gold Uncovers High-Grade Gold Veins at Double Event Prospect
Flynn Gold (ASX: FG1) has announced a significant new high-grade gold discovery at its 100%-owned Double Event Prospect, part of the broader Golden Ridge Project in Northeast Tasmania. Multiple gold-bearing quartz-sulphide veins have been identified through surface trenching over a 275-meter strike length, significantly expanding the company's exploration potential in the region.
Impressive Gold Grades Confirm Discovery Potential
The trenching program at Double Event has revealed some of the most promising results recorded by Flynn Gold to date. Significant assays from channel samples include:
- Trench 8: 2.6m @ 6.4g/t Au, including 0.2m @ 15.2g/t Au and 0.8m @ 16.5g/t Au
- Trench 6: 0.4m @ 17.4g/t Au and 0.3m @ 17.0g/t Au
- Trench 5: 2.7m @ 2.6g/t Au, including 0.2m @ 23.5g/t Au
- Trench 4: 1.2m @ 9.5g/t Au
The gold mineralisation occurs in steep north-northwest-dipping arsenopyrite-rich quartz veins ranging from 15mm to 200mm in thickness. These veins appear as either discrete structures or in tight swarms, consistent with structural trends seen at other high-grade prospects within the Golden Ridge Project.
"The high-grade discovery potential across the broader Golden Ridge Project continues to grow, with recent trenching at the Double Event Prospect exposing multiple high-grade gold-bearing quartz-sulphide veins at the surface over 275 metres open strike length," said Neil Marston, Managing Director and CEO of Flynn Gold.
Understanding Intrusive-Related Gold Systems
The Flynn Gold Double Event discovery appears to be part of an intrusive-related gold system (IRGS). These mineral systems form when metal-rich fluids from cooling intrusive bodies, such as the Golden Ridge Granodiorite, flow through fractures in surrounding rocks.
At Double Event, the gold-bearing quartz veins are located near the contact between the Golden Ridge Granodiorite and Mathinna Supergroup metasediments. This geological setting is significant because contact zones often create favourable conditions for mineral deposition due to temperature and pressure gradients.
IRGS deposits can be substantial in size and are known globally for hosting economically significant gold resources. The continuity of mineralisation at Double Event, both along strike and down-dip (as indicated by the 65m elevation difference across the trenching area), suggests potential for a sizeable mineral system.
Historical Context Validates Modern Exploration
The Double Event prospect has historical significance, with state government reports from 1899 describing a steeply dipping quartz vein within weathered granite that returned grades of up to 4.3oz/t (approximately 133.7g/t Au) from a 60-foot (18m) shaft.
Flynn geologists recently rediscovered this historical shaft and confirmed the presence of high-grade gold by sampling mineralised quartz from adjacent mullock dumps, with results including 7.9g/t, 18.5g/t, 40.9g/t, and 44.5g/t Au. The current trenching program has now validated and expanded upon this historical knowledge, demonstrating both the persistence and scale of the gold system.
Imminent Drilling Program to Test Depth Extensions
Having secured drilling approvals from Mineral Resources Tasmania, Flynn Gold is preparing to commence the first-ever modern drilling program at Double Event. The company has already established two drill pads and plans to begin diamond drilling as soon as the current phase of drilling at the Grenadier prospect is completed.
The upcoming program will:
- Test the depth extensions of the high-grade veins identified in the trenching program
- Investigate the lateral continuity of the vein system with additional trenches planned 50m to the east and west
- Further explore the apparent offset of the main mineralised trend between Trenches 7 and 8
- Complement ongoing exploration with infill ultrafine fraction soil sampling
Golden Ridge: An Emerging Large-Scale Gold System
The Flynn Gold Double Event discovery adds to the company's growing exploration success at the Golden Ridge Project, where Flynn Gold has previously announced an Exploration Target for the Trafalgar, Link Zone, and Brilliant Prospects.
The project is characterised by extensive intrusive-related gold mineralisation extending over a 9km-long zone along the southern contact margin of the Golden Ridge Granodiorite and enclosing metasediments. This geological setting is highly prospective for significant gold discoveries.
Furthermore, recent high-grade gold strikes at Trafalgar have reinforced the company's confidence in the overall potential of the Golden Ridge Project. In addition, ongoing exploration has revealed gold and antimony discoveries with significant potential at the Ricciardo prospect.
Why Investors Should Take Note
Flynn Gold presents a compelling investment opportunity for several reasons:
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Multiple High-Grade Discoveries: The company continues to identify high-grade gold mineralisation across multiple prospects within the Golden Ridge Project.
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Systematic Exploration Approach: Flynn is methodically exploring the 9km strike length of prospective ground, with each new discovery increasing confidence in the potential for a large-scale gold system.
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Near-Term Catalysts: With drilling approvals in place and plans to commence diamond drilling in the coming weeks, investors can anticipate a steady flow of news from the Flynn Gold Double Event discovery.
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100% Ownership: Flynn Gold maintains full ownership of the Golden Ridge Project, providing shareholders with maximum leverage to exploration success.
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Strong Cash Position: With approximately A$1.2 million in the bank (as of June 30, 2025) and no debt, the company is well-positioned to advance its exploration programs.
At a market capitalisation of approximately A$11 million, Flynn Gold appears undervalued relative to the potential scale of its discoveries. The Flynn Gold Double Event discovery, with its impressive high-grade results, adds significant value to the company's growing portfolio of gold prospects in Tasmania.
As diamond drilling commences and further exploration results are reported, investors should closely monitor Flynn Gold's progress in establishing the true extent and economic potential of the Golden Ridge Project. The company's recent high-grade gold assays at the Lincoln Gold Project and its strategic expansion into Finland demonstrate its commitment to building a diverse portfolio of high-quality gold assets.
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