Flynn Gold (ASX:FG1) is planning to conduct geological mapping and orientation soil sampling at its Lake Johnston Project in Western Australia over the coming days.
The $12.13 million market capitalisation company says the fieldwork will precede a more ‘extensive’ soil sampling program aimed at uncovering targets for drill testing.
Exploration will initially target a 5km zone along-strike to the north and south of pegmatites delineated on exploration licence E63/2190.
Subject to the results of the early-stage assessment programs, Flynn will potentially kick off initial aircore (AC) and/or reverse circulation (RC) drilling programs.
Flynn says in the meantime, it plans to further interpret multi-client aeromagnetic and gravity data to help with the interpretation of the geology and identification of additional target zones in the area.
This news comes after fellow ASX-listed TG Metals (ASX:TG6) announced the discovery of a new anomaly — spanning 5.7km in strike and 2.3km in width — within the Lake Johnston area.
The new anomaly has been named the Jaegermeister prospect and is reportedly ‘larger’ in scale than TG Metals’ Burmeister soil anomaly.
Flynn Gold Managing Director and Chief Executive Officer (CEO) Neil Marston says the discovery of the Jaegermeister anomaly is ‘significant’, as Flynn recently identified 3 unmapped pegmatites on its adjoining licence.
“TG Metals’ discovery of high-grade lithium in pegmatites at the nearby Burmeister Project highlights the prospectivity of the Lake Johnston region.
Flynn intends to fast-track its exploration efforts at this high-priority project.”
TG Metals Chief Executive Officer (CEO) David Selfe adds that the company’s current drilling program at its Burmeister prospect will provide knowledge that can be applied to Jaegermeister and will provide drill targets for early next year.
“We are eagerly anticipating the next drilling results from Burmeister, which we expect assays back in the next 2 weeks,” Selfe says.
TG Metals is a nickel, lithium, and gold explorer focused on discoveries in Western Australia.
Flynn Gold is an Australian gold and battery metals-focused explorer with a portfolio of projects in Tasmania and Western Australia.
As of 30 September 2023, Flynn had $2.5 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Flynn Gold
