Economy 26-01-2024 01:02 14 Views

High-Grade Gold-Cobalt-Tungsten Intersected at Firetower, NW Tasmania

Flynn Gold Limited (ASX: FG1, “Flynn Gold” or “the Company”) is pleased to provide the first drilling results from its 100%-owned Firetower Project located in northwest Tasmania.


First assay results from recent diamond drilling have confirmed potential for significant polymetallic gold and critical minerals mineralisation at the Firetower Project in northwest TasmaniaHigh-grade gold-cobalt-tungsten-copper mineralisation intersected, including:2019FTD007E:17.0m @ 2.31g/t Au, 0.16% Co, 0.38% WO3, 0.16% Cu from 121.0-138.0m, including:1.7m @ 6.64g/t Au, 0.12% Co, 0.87% WO3, 0.14% Cu from 121.0m, and5.5m @ 3.27g/t Au, 0.24% Co, 0.53% WO3, 0.33% Cu from 132.5m.Diamond drilling program comprised one new drillhole and three diamond tail extensions to holes previously drilled in 2019, for a total of 496.0mAll drill core has been cut and submitted for multi-element analysis with 164.6m of assays reported here and assays pending for 331.4mDrilling permits in place to extend additional shallow historic drill holes and test for depth and strike extensions to the high-grade polymetallic mineralised zoneProspective strike length of 6km remains lightly drilled.

The initial drilling results confirm coherent zones of high-grade polymetallic gold, cobalt, tungsten and copper (Au-Co-W-Cu) mineralisation at the project, with laboratory assays for most of the program still pending.

Commenting on the drilling, Managing Director and CEO Neil Marston said

“High-grade gold-cobalt-tungsten has been recorded in the first results from drilling at the Company’s Firetower Project in northwest Tasmania. Our drilling has been successful in testing for depth extensions of the main mineralised zone.

“The 4-hole drill program completed in December 2023 tested depth extension targets generated from our recent review of the project.

“Previous drilling at Firetower has been generally shallow and across a limited strike length, with very few holes extending beyond 150m from the surface. Several previous drill holes ended in mineralisation.

“These early results demonstrate the depth continuity of mineralisation and highlight the significant potential for high-grade mineralisation to continue at depth and along strike.

“Importantly Flynn already has permits in place to undertake a follow-up drilling program to test for further mineralisation.”

Firetower Polymetallic (Au-Co-W-Cu) Mineralisation

The polymetallic Au-Co-W-Cu mineralisation at Firetower is currently defined by historic drilling over a strike length of 200m and remains open along a highly prospective 6km-long trend between the Firetower West and Firetower East prospects (Figure 1). The mineralisation, which partly outcrops, is currently drill-tested to approximately 150m depth and remains open down-dip.

Latest Firetower Drilling

One diamond drill hole and three diamond extension tails on existing holes were drilled at the Firetower Prospect for a total of 496.0m. The location of these 4 drill holes is shown in Figure 2. Table 1 contains full details of these drillholes.

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