Flynn Gold Limited has reported promising high-grade gold results from its Golden Ridge Project in Tasmania, alongside a successful $5 million capital raise to accelerate exploration efforts in 2026.
- High-grade gold mineralisation confirmed at Double Event and Grenadier prospects
- Extensive 9km gold-bearing granodiorite-sediment contact zone identified
- $5 million capital raised via rights issue and placement
- Exploration expanded to Mangana, Firetower, and Henty projects with critical metals focus
- Plans underway for first drilling at historic Zeehan silver-lead-zinc mines in 2026
Strong Drilling Results at Golden Ridge
Flynn Gold Limited (ASX – FG1) has delivered a robust quarterly update for December 2025, highlighting significant progress in its exploration activities across Tasmania. Central to the report are the latest diamond drilling results from the Golden Ridge Project in north-east Tasmania, where high-grade gold mineralisation has been confirmed at both the Double Event and Grenadier prospects.
The drilling program at Double Event, a historically mined area first documented in 1899, intersected multiple shallow, high-grade quartz-sulphide veins. Notably, assays included 2.5 metres at 6.3 grams per tonne gold from 37.3 metres depth, with narrower intervals reaching up to 35.1 grams per tonne. These results reinforce the prospect’s potential as part of a broader 9-kilometre mineralised corridor along the granodiorite-sediment contact zone.
Expanding the Exploration Footprint
Beyond Golden Ridge, Flynn has initiated its maiden diamond drilling program at the Mangana Gold Project, extending its footprint in north-east Tasmania. Meanwhile, at the Firetower Project in north-west Tasmania, re-assaying of historical drill core has revealed wide intervals of gold-tungsten-cobalt mineralisation, with tungsten grades increasing by up to 92% using advanced laboratory techniques. This polymetallic focus aligns with growing market interest in critical metals.
In western Tasmania, the company secured drilling approvals for the Henty Silver-Lead-Zinc Project, targeting historic mines near Zeehan. The planned Q1 2026 drilling will be the first at these sites since 1947, marking a strategic step into silver and base metals exploration.
Capital Raising Strengthens Financial Position
Supporting these exploration initiatives, Flynn successfully completed a $3 million renounceable rights issue in October 2025, followed by a $2 million placement to meet strong institutional demand. The combined $5 million capital raise bolsters the company’s cash reserves to $3.453 million as of December 31, 2025, providing a solid financial foundation for upcoming drilling and evaluation programs.
Exploration expenditure for the quarter was approximately $1.08 million, reflecting active fieldwork and data analysis. The company is currently integrating new geological, petrological, and structural data to refine its 2026 drilling targets, with a renewed focus on assessing open pit mining potential amid record gold prices.
Outlook and Strategic Focus
Flynn Gold’s multi-pronged exploration strategy across gold, silver, and critical metals projects positions it well to capitalise on Tasmania’s mineral endowment. The confirmation of high-grade gold mineralisation along a substantial granodiorite contact zone, combined with promising critical metals assays, underscores the potential for significant resource growth.
As the company prepares for an active 2026 drilling season, investors will be watching closely for assay results from Mangana and Firetower, as well as progress at the historic Zeehan mines. Flynn’s ability to translate exploration success into defined resources and, eventually, mining operations will be key to unlocking shareholder value.
Bottom Line?
With high-grade gold discoveries confirmed and a strong cash position, Flynn Gold is poised for a pivotal exploration year ahead.
Questions in the middle?
- How will upcoming assay results from Mangana and Firetower influence resource estimates?
- What is the potential scale and grade of mineralisation along the untested 9km granodiorite contact corridor?
- Can Flynn Gold successfully transition from exploration to development amid rising gold prices?