Flynn Gold Unveils Maiden Exploration Target at Golden Ridge, NE Tasmania

Exploration Breakthrough at Golden Ridge

Flynn Gold Limited (ASX: FG1) has delivered a significant update on its exploration activities in north-east Tasmania, unveiling a maiden JORC-compliant Exploration Target at its flagship Golden Ridge Project. The target encompasses the Trafalgar, Brilliant, and Link Zone prospects, estimating a combined potential of 3.5 to 5.4 million tonnes grading between 3.0 and 4.0 grams per tonne (g/t) gold, translating to approximately 449,000 to 520,000 ounces of contained gold.

This initial target is conceptual but promising, representing less than 30% of the 9-kilometre gold anomaly that defines the mineralised system at Golden Ridge. The company emphasises that further drilling is planned to expand this target and convert it into a formal Mineral Resource, a critical step towards potential development.

Detailed Prospect Insights

The Trafalgar prospect stands out with an estimated 1.6 to 2.2 million tonnes grading 4.5 to 6.0 g/t Au, accounting for the majority of the contained gold ounces. Notably, the discovery of the Trafalgar North vein array suggests repetitive vein systems across strike, enhancing the project's scale potential. The Brilliant prospect offers a broader but lower-grade mineralisation zone, while the Link Zone, an under-explored corridor, connects the two and shows continuous soil anomalies extending over 640 metres.

Recent diamond drilling at the Golden Ridge Adit aims to test extensions of known gold-vein mineralisation, with assay results pending. Meanwhile, UltraFine+ soil sampling has identified a significant gold anomaly at the Grenadier Prospect, covering an area of 1,000 by 500 metres. Trenching at Grenadier has confirmed gold in quartz veins over a 130-metre open strike length, with further trenching planned for early 2025.

Expanding the Exploration Footprint

Flynn Gold is actively expanding its soil sampling campaigns to include the main granodiorite body at Golden Ridge, aiming to uncover new intrusive-related gold system (IRGS) anomalies. The company is also progressing a 'Ridge and Road' soil sampling program to test unexplored parts of the Golden Ridge batholith and its northern contacts, which remain largely untested.

Beyond Golden Ridge, Flynn secured a new Exploration Licence (EL13/2024) covering 40 square kilometres surrounding the high-grade Beaconsfield Gold Mine lease. This tenure covers a highly prospective 12-kilometre corridor with numerous historical gold workings, positioning Flynn to explore one of Tasmania's most renowned goldfields.

Corporate and Financial Position

At the end of December 2024, Flynn Gold reported a cash balance of $0.75 million. The company’s expenditure for the quarter included $764,000 on exploration and evaluation, $135,000 on employee costs, and $165,000 on administration and corporate expenses. To support ongoing activities, Flynn has an At-The-Market Subscription Agreement with Dolphin Corporate Investments Pty Ltd, providing up to $2 million in standby equity capital over three years, offering flexible funding options as exploration progresses.

Flynn’s strategic focus on advancing its Tasmanian gold assets, combined with its portfolio in Western Australia, underscores its commitment to unlocking value through exploration. The pending assay results from recent drilling and ongoing soil sampling campaigns will be pivotal in defining the next phase of resource development.