Flynn Gold Uncovers High-Grade Silver and Tungsten in Tasmania as Exploration Accelerates

Silver King Drilling Revives Historic High-Grade Potential

Flynn Gold Limited (ASX:FG1) has delivered a striking debut from its maiden diamond drilling at the Silver King Mine in Tasmania’s historic Zeehan district, intersecting spectacularly high-grade silver and base metals. The first hole, SKDD001, returned a standout 1.0 metre interval grading 1,020g/t silver, 15.2% lead, and 4.7% zinc from 101 metres, including a blistering 0.4 metres at 2,450g/t silver and nearly 30% lead. This intercept rekindles the promise of the Silver King Mine Trend, which has seen no drilling in over 80 years and historically produced ore with grades reportedly as high as 3,110g/t silver in shoots at South King mine.

The drilling campaign, which had completed three holes by quarter-end with a fourth underway, targets the down-plunge extensions of these narrow, high-grade fissure veins over a 1.6km strike. These results align well with historical records but are now validated by modern assay techniques. The company is advancing geological modelling to refine its exploration approach. This development follows recent updates where Flynn Gold unveiled high-grade silver-lead-zinc intercepts that have significantly boosted confidence in the project’s potential.

Firetower and Warrentinna Projects Confirm Critical Mineral Potential

Beyond silver, Flynn Gold’s Firetower Project in northwest Tasmania continues to reveal promising polymetallic mineralisation. A re-sampling program of historical drill core, using enhanced analytical techniques, has confirmed shallow, high-grade gold-tungsten-cobalt-copper mineralisation. Notable intercepts include 10 metres at 2.64g/t gold with 0.19% WO3 tungsten and 17 metres at 1.65g/t gold with 0.17% WO3, both starting within 80 metres of surface. These results lie up-dip of previously reported high-grade zones, supporting continuity and extending the known mineralised footprint.

Drilling permits have been secured to deepen three holes to approximately 200 metres, with the program slated to commence in Q2 2026. The Firetower Project’s location within the mineral-rich Mt Read volcanic belt, home to major polymetallic mines like Hellyer and Rosebery, underscores its strategic importance amid rising demand for critical minerals such as tungsten.

Meanwhile, the Warrentinna Project in northeast Tasmania has yielded the first reconnaissance results from the Gorge Creek tungsten prospect, where rock chip sampling returned exceptional grades up to 14.75% WO3 alongside silver, gold, and bismuth. A broad tungsten-bismuth soil anomaly covers roughly 400 by 150 metres, with a high-grade core open along strike and yet to be drill tested. Structural mapping points to a fold hinge zone as a key control on mineralisation, setting the stage for targeted follow-up exploration.

Golden Ridge Advances with New Exploration and Processing Hub Plans

Flynn Gold is also intensifying focus on its flagship Golden Ridge Project in northeast Tasmania, a 9km-long gold system where a significant high-grade intrusive-related discovery has been made. Post-quarter, the company launched a new exploration phase involving trenching and channel sampling at the Brilliant Prospect, aimed at extending gold mineralisation along a 3km contact zone with the Trafalgar Prospect. Concurrently, an independent structural study is underway to better understand controls on high-grade zones and guide drilling.

Supporting this, Flynn is evaluating Golden Ridge as a potential regional gold processing hub, given the proximity of most of its northeast Tasmanian assets within 70km and accessible via good roads. Environmental surveys are planned to advance approvals. This strategic move could centralise processing infrastructure and improve project economics, as highlighted in Flynn Gold’s recent advances in Golden Ridge exploration and processing hub plans.

Mangana Gold Project and Western Australia Asset Sale

At the Mangana Project, exploration drilling co-funded by Tasmania’s Exploration Drilling Grant Initiative confirmed the presence of quartz veining and anomalous gold beneath historical workings, although the high-grade ore shoots targeted were not intersected. Surface sampling at the Golden Entrance and Buckland prospects returned impressive gold grades up to 97.4g/t, highlighting multiple priority targets for follow-up.

On the corporate front, Flynn agreed to divest its non-core Forrestania and Lake Johnston Projects in Western Australia to Forrestania Resources Limited for $350,000 in shares, reflecting a sharpened focus on Tasmanian assets. Settlement was pending at quarter-end.

Financial Position and Outlook

Flynn Gold ended the quarter with a cash balance of $2.48 million, having spent $779,000 on exploration and evaluation activities. Employee and corporate costs were tightly managed, supporting ongoing field programs and corporate initiatives. The company’s commitment to unlocking value from its Tasmanian portfolio is evident in the breadth of projects advancing simultaneously, from high-grade silver and tungsten discoveries to gold system expansions and infrastructure planning.

As drilling progresses at Silver King and Firetower, and structural insights emerge from Golden Ridge, the market will be watching how these developments translate into resource growth and project viability. Meanwhile, the sale of non-core WA assets provides modest capital recycling to fund exploration momentum in Tasmania.