Flynn Gold (ASX:FG1) has expanded its phase two drilling program at the Firetower Gold-Tungsten Project in northern Tasmania from three to 10 holes for 1,600m.
The expanded program will test for down-dip extensions to high-grade polymetallic gold-tungsten-cobalt mineralisation and collect samples for planned metallurgical testwork.
Results from the program will support the delivery of a maiden mineral resource estimate (MRE) for the project.
Hole 2019FTD014E is currently underway, testing for extensions approximately 75m below previous ‘high-grade’ intercepts in hole 2019FTD007E. The latter hole returned 17m @ 2.31 grams per tonne gold, 0.73% tungsten trioxide, 0.16% cobalt, and 0.16% copper from 121m.
CEO Neil Marston says the company is ‘delighted’ to have a new phase of drilling underway at the Firetower Project, with the goal of rapidly advancing the ‘high-grade’ gold-tungsten-cobalt mineralisation towards a maiden MRE.
“The company’s board has recently approved an expansion of the planned drilling from three to 10 holes, all of which are fully permitted, with the first hole now underway,” Marston says.
Flynn Gold recently completed diamond drilling at its Henty Silver-Lead-Zinc Project near Zeehan in western Tasmania, with six drill holes for 1,248m. Final assay results from this program are pending.
The company maintains $2.48 million in cash at quarter-end with no debt.
Write to JC Villarba at Mining.com.au
Images: Flynn Gold
