Can Flynn Gold Capitalise on Surging Tungsten Prices with Firetower Expansion?

Reassessing Firetower’s Potential

Flynn Gold Limited (ASX:FG1) has released encouraging new assay results from its 100%-owned Firetower Gold-Tungsten Project in northwest Tasmania. The company’s re-sampling of historical drill core using a more precise analytical technique has confirmed the presence of shallow, high-grade polymetallic mineralisation, notably gold and tungsten, alongside cobalt and copper. These results not only validate the upgraded assay method but also suggest the deposit’s scale and grade may be more substantial than previously understood.

Polymetallic Riches Close to Surface

The standout intercepts include 10 metres at 2.64 grams per tonne gold and 0.19% tungsten trioxide from 63 metres depth, and 17 metres at 1.65 grams per tonne gold with 0.17% tungsten trioxide from 76 metres. These mineralised zones lie above previously reported high-grade polymetallic mineralisation extending to around 150 metres depth, which itself includes impressive grades of gold and tungsten with cobalt and copper credits. The polymetallic nature of the mineralisation enhances the project’s economic appeal, especially given the strategic importance of tungsten and cobalt.

Strategic Timing Amid Rising Critical Mineral Demand

Flynn Gold’s Managing Director Neil Marston highlighted the timing of these results as particularly fortuitous. Tungsten prices have surged over 500% in the past year, driven by supply constraints following China’s export controls. Meanwhile, cobalt demand is rising globally due to its critical role in clean technology batteries, with supply risks from the Democratic Republic of Congo prompting a search for alternative, ethically sourced deposits. Firetower’s polymetallic profile positions it well within this evolving market landscape.

Next Steps: Drilling and Resource Modelling

With drilling permits secured from Mineral Resources Tasmania, Flynn Gold plans to commence a follow-up diamond drilling program in the second quarter of 2026. This program will target depth extensions of the high-grade gold-tungsten zone, which remains open at depth and along strike. The results will feed into a maiden Mineral Resource Estimate, supported by technical modelling assistance from SRK Consulting. Metallurgical testwork is also planned to better understand the mineral processing characteristics, a key step toward project advancement.

A Project with Growing Strategic and Economic Appeal

Situated within the prolific Mount Read Volcanic Sequence; home to world-class polymetallic mines such as Rosebery and Mt Lyell; the Firetower Project covers a 62 square kilometre area with a 6-kilometre mineralised trend. Historical exploration focused mainly on gold, often overlooking tungsten and cobalt. Flynn Gold’s renewed focus and improved assay techniques are now revealing the polymetallic potential that could significantly enhance the project’s value proposition.