Flynn Gold (ASX:FG1) is reviewing drill results from the Warrentinna Project in Tasmania, to identify the best locations for follow-up drilling.
The review will lead to refining the geological model and preparing for a preliminary resource model.
Meanwhile, the $8.59 million market capitalisation company reports today (12 January 2024) multiple zones of auriferous quartz veining were intersected in its maiden diamond drilling program at Warrentinna.
Flynn Gold Managing Director and Chief Executive Officer (CEO) Neil Marston says drilling confirmed that Warrentinna has potential for gold resources near surface and proven to extend the depth of mineralisation to greater than 100m.
“Previous explorers have produced some remarkable high-grades at Warrentinna. Our drilling has confirmed the existence of multiple zones of gold mineralisation and added a structural context which will be used in targeting for future drilling campaigns.
The Warrentinna goldfield is defined by shallow historic workings over a strike length of 6km, and with this campaign targeting gold mineralisation in the north of the goldfield, the remainder is largely untested.”
The best intercepts include drillhole DNDD001 with 7.2m @ 2.5 grams per tonne (g/t) gold (Au) from 68.9m, including 2.1m @ 7g/t Au from 75.1m, and 4.8m @ 1.2g/t Au from 92m, including 0.3m @ 5.6g/t Au from 94.6m.
Two diamond holes were drilled at the Warrentinna prospect for a total of 357m. The holes confirmed the continuity of orogenic style gold mineralisation identified in historical drilling by Greatland. They were drilled in the opposite direction to previous RC and diamond drilling completed by Greatland.
As a result, these holes yielded critical stratigraphic and structural information which will guide the interpretation of historic data and verify and amend the existing vein model.
Flynn says this campaign confirms gold mineralisation at Warrentinna occurs in multiple sub-parallel lode style quartz veins. Veins strike north, to north-northeast and are steeply dipping to the east and west.
The Warrentinna project lies in northeast Tasmania, about 40km northwest of Flynn’s Golden Ridge Project.
Meanwhile, Flynn’s maiden diamond drilling program at the Firetower Project in northwest Tasmania was completed in December 2023, with 496m advanced.
Most of the drill core has been logged and cut, with samples being progressively analysed at the laboratory.
A market update on the results of this drilling is expected to be released later in Q1 2024.
In December 2023, the company received a drilling permit from Mineral Resources Tasmania (MRT) for the advanced Mariposa Zinc/Lead/Silver prospect, which lies within the Henty Project in northwest Tasmania.
The company is planning to undertake drilling at the Mariposa prospect in Q1 2024
Flynn Gold is an Australian mineral explorer focused on its portfolio of assets in Tasmania and Western Australia.
As of 30 September 2023, the company had $2.527 million cash at hand, according to its latest quarterly report. Post-quarter-end, the company conducted a placement and share purchase plan to raise $2.4 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Flynn Gold
