Flynn Gold Unveils New High-Grade Discoveries and Secures $5M for Tasmanian Exploration

Exploration Momentum at Golden Ridge

Flynn Gold Limited (ASX – FG1) has delivered a robust quarterly update for the period ending 30 September 2025, highlighting substantial advances in its Tasmanian exploration portfolio. The company’s flagship Golden Ridge Project in northeast Tasmania continues to impress, with Phase 4 diamond drilling at the Trafalgar Prospect confirming the continuity of multiple high-grade gold zones. Four holes totaling 880 metres intersected significant mineralisation across the Trafalgar Main, Magazine, and South Zones, reinforcing the geological model and underpinning confidence in future resource estimations.

While some drill holes returned exceptional grades, others revealed complex structural controls on mineralisation, prompting ongoing refinement of targeting strategies. The Grenadier Prospect also saw completion of a seven-hole diamond drilling program, with assays pending. Surface trenching at Grenadier uncovered a new gold-rich quartz-sulphide vein system, suggesting further upside potential along strike and at depth.

Breakthrough at Double Event Prospect

A standout highlight was the discovery of a new high-grade gold vein system at the Double Event Prospect, located just one kilometre north of the historic Trafalgar mine. Trenching exposed quartz-sulphide veins over a 275-metre strike length, with channel samples returning impressive gold grades including intervals exceeding 15 grams per tonne. Maiden diamond drilling has commenced targeting these veins at depth, with assay results eagerly awaited. This discovery adds a compelling new dimension to Flynn’s northeast Tasmanian portfolio.

Polymetallic Potential at Firetower

Beyond gold, Flynn’s Firetower Project in northwest Tasmania is gaining attention for its polymetallic mineralisation. Re-sampling of historical drill core revealed a significant intercept containing gold, cobalt, tungsten, and copper, extending known mineralisation down-plunge. This polymetallic signature enhances the project’s critical metals credentials, aligning with growing market interest in cobalt and tungsten as strategic commodities. Further re-sampling and drilling are planned to delineate these valuable co-products.

Corporate Strength and Funding

On the corporate front, Flynn successfully closed a $3 million renounceable rights issue, supplemented by a $2 million placement to meet strong investor demand. These funds will accelerate exploration activities across Tasmania, including planned drilling at the Mangana and Henty South projects, supported by $130,000 in government co-funding grants. The company also divested a non-core Western Australian tenement for $200,000, focusing resources on its high-potential Tasmanian assets. Despite a modest cash balance of $0.375 million at quarter-end, the recent capital raise positions Flynn well to advance its exploration agenda.

Looking Ahead

Flynn Gold’s strategic focus on Tasmania’s prolific mineral belts, combined with its expanding portfolio of high-grade gold and critical metals targets, sets the stage for a potentially transformative period. Upcoming assay results from Grenadier and Double Event drilling will be pivotal in defining the scale and quality of these discoveries. Meanwhile, the company’s disciplined capital management and government partnerships provide a solid foundation for sustained exploration success.