Flynn Gold Registers Mining Lease Application for Golden Ridge with Processing Hub Site

Mining Lease Application Unlocks Development Pathway

Flynn Gold (ASX:FG1) has taken a significant step towards establishing gold mining in northeast Tasmania with the registration of Mining Lease Application (MLA) 6M/2026 over part of its 100%-owned Golden Ridge Project. This lease covers key gold deposits that underpin a 2024 Exploration Target ranging from 449,000 to 520,000 ounces of contained gold, setting a solid foundation for advancing the project.

The MLA spans 458 hectares and includes not only the cornerstone Brilliant and Trafalgar deposits but also a 3-kilometre corridor of highly prospective ground between them. Crucially, it encompasses about 70 hectares of cleared plantation land earmarked for a future Gold Processing Hub, strategically positioned with nearby grid power and all-weather road access. This infrastructure advantage supports Flynn Gold’s ambition to develop a regional processing facility that could handle ore from Golden Ridge and potentially other local deposits.

Early Environmental Work and Permitting Progress

Recognising that mine and environmental permitting often represent the longest lead times in mine development, Flynn Gold has proactively commenced baseline environmental studies within the MLA area. These include ecological assessments and drainage evaluations, alongside plans for autonomous weather stations and water quality monitoring. This early start aims to streamline approvals while resource drilling and metallurgical studies proceed in parallel.

Managing Director Neil Marston highlighted the importance of this milestone, noting that the registered MLA provides the impetus to accelerate project activities including resource drilling at Brilliant and Trafalgar. These drilling campaigns are designed to expand the current Exploration Target and convert portions into a JORC-compliant Mineral Resource, a critical step towards mine feasibility.

Golden Ridge’s Geological Promise and Regional Potential

The Golden Ridge Project benefits from geological similarities to the Victorian Goldfields, one of the world’s prolific gold regions. Flynn Gold’s exploration has identified extensive intrusive-related gold mineralisation along a 9-kilometre zone, with historical drilling at Trafalgar delivering multiple high-grade intercepts exceeding 100 grams per tonne gold. These results underscore the project’s potential to host significant orogenic and intrusive-related gold deposits.

The proposed processing hub’s location near the historical Mathinna Goldfield, Tasmania’s largest recorded gold producer until the 1930s, further enhances its strategic value. The hub could serve as a central facility for Flynn’s broader northeastern Tasmanian portfolio, which includes other promising projects such as Henty and Firetower, supporting regional development and operational efficiencies.

Next Steps and Investor Engagement

With the MLA registration secured, Flynn Gold is poised to intensify its development momentum. Planned activities include expanding resource drilling to increase and upgrade the Exploration Target, initiating metallurgical testwork, and engaging with stakeholders. The company has also launched an interactive Investor Hub to facilitate dialogue and provide updates, reflecting a commitment to transparency as the project advances.

Flynn Gold’s focus on northeast Tasmania aligns with its strategic shift to concentrate on Tasmanian assets, following recent portfolio rationalisation. The company’s approach leverages the region’s favourable geology, existing infrastructure, and mining-friendly jurisdiction to unlock value from its gold, tin, tungsten, and silver projects.