Discovery of Third Vein at Grenadier Raises Questions on Golden Ridge’s Untapped Gold Endowment
Flynn Gold has discovered a new high-grade gold vein at its Grenadier Prospect in Northeast Tasmania, marking a significant expansion of the Golden Ridge Project’s mineralised system. A maiden drilling program has been completed, with assay results eagerly awaited.
- Discovery of third major high-grade gold vein (G3) at Grenadier Prospect
- Rock-chip assays up to 17.9g/t gold from vein and float samples
- Completed maiden 7-hole diamond drilling program (874.3m) with assays pending
- Potential fourth vein indicated by high-grade float sample 170m south of G3
- Further trenching and drilling planned at Grenadier and Double Event Prospect
A New Chapter at Grenadier
Flynn Gold Limited (ASX – FG1) has announced a compelling new development in its exploration efforts at the Golden Ridge Project in Northeast Tasmania. The company has identified a third significant gold-bearing quartz-sulphide vein, dubbed the G3 Vein, at the Grenadier Prospect. This discovery adds a fresh dimension to the project’s potential, which already includes two previously identified veins, G1 and G2.
The G3 Vein was uncovered through recent surface trenching and rock-chip sampling, with assays confirming high-grade gold mineralisation. Notably, an in-situ sample from a vein outcrop assayed 11.6 grams per tonne (g/t) gold over one metre, while adjacent float samples returned grades of 3.5g/t and 2.2g/t. A particularly striking find was a float sample grading 17.9g/t gold located 170 metres south of the G3 Vein, hinting at the possible presence of a fourth vein in the system.
Expanding the Mineralised Corridor
Flynn Gold’s surface trenching has confirmed that gold mineralisation extends continuously over at least 300 metres along strike, with the veins spanning a corridor approximately 150 metres wide. The G3 Vein runs sub-parallel to the G1 and G2 veins, and the area between these veins remains largely untested, representing a prime target for further exploration.
Managing Director and CEO Neil Marston highlighted the significance of the discovery, stating that the multiple high-grade veins could substantially increase the gold endowment of the Grenadier Prospect and the broader Golden Ridge Project. This is particularly timely given the current environment of elevated gold prices, which enhances the economic potential of such discoveries.
Drilling Progress and Next Steps
Complementing the surface work, Flynn Gold has completed its maiden diamond drilling program at Grenadier, comprising seven holes totaling 874.3 metres. The drilling aimed to test the high-grade mineralisation identified in trenching, with assay results currently pending. These results will be critical in assessing the continuity and depth potential of the veins.
Looking ahead, the company plans to initiate drilling at the nearby Double Event Prospect, where surface trenching has revealed multiple high-grade quartz-sulphide veins over a 275-metre strike length. Additionally, further trenching at Grenadier is scheduled to explore extensions of the G3 Vein and investigate the area around the high-grade float sample suggestive of a fourth vein.
Geological Context and Exploration Confidence
The Golden Ridge Project hosts intrusion-related gold mineralisation, with quartz-carbonate-sulphide stockwork veins within hornfelsed sedimentary rocks. The Grenadier Prospect is a greenfields discovery with no prior recorded gold mining activity, underscoring the potential for new resource development. Exploration techniques have adhered to rigorous industry standards, including detailed sampling, QAQC protocols, and precise surveying, lending confidence to the reported results.
Flynn Gold’s strategic focus on Northeast Tasmania, complemented by its portfolio in Western Australia, positions the company well to leverage these discoveries. The unfolding exploration story at Grenadier will be closely watched by investors and analysts eager for assay results and further updates.
Bottom Line?
As Flynn Gold awaits drilling assays, the newly discovered G3 Vein could redefine the scale of Golden Ridge’s gold potential.
Questions in the middle?
- Will the pending drill assays confirm the high-grade continuity of the G3 Vein at depth?
- Could the high-grade float sample south of G3 lead to the confirmation of a fourth vein?
- How will exploration at the Double Event Prospect complement the Grenadier findings?
