Companies:

 

Articles:

 
Mining

Flynn Gold Looks to Expand Golden Ridge with Promising New Grenadier G3 Vein

Go to Colin Hay author's page
By Colin Hay - 
Flynn Gold ASX FG1 Expand Golden Ridge New Grenadier G3 Vein
Copied

Flynn Gold (ASX: FG1) believes a new gold vein discovery at its Golden Ridge project in northeast Tasmania may represent a significant increase to the potential gold endowment of the Grenadier prospect system.

The company identified the G3 vein in its recent surface trenching and sampling at Grenadier, with an in-situ gold sample assaying 1.0 metres at 11.6 grams per tonne and float samples returning 3.5g/t and 2.2g/t near the vein exposure.

Flynn is also excited that it may have potentially discovered a fourth vein with a high-grade float sample assaying 17.9g/t from an area 170m south of the G3 vein.

Fast-Tracked Trenching

Chief executive officer Neil Marston said the company is now looking to fast-track trenching of an untested area between the G1 and G2 veins, and the newly discovered G3 vein.

“In the current environment of high gold prices, discovering multiple high-grade grade veins at Grenadier has the potential to significantly increase the gold endowment of both the prospect and the Golden Ridge project overall,” Mr Marston said.

“To date, surface trenching has confirmed the strike continuity of gold mineralisation over at least 300m at Grenadier, with the G1, G2, and G3 veins extending across a corridor approximately 150m wide.”

Grenadier is a greenfields gold discovery at Golden Ridge, with no recorded gold occurrences or mining activity undertaken at the prospect during the region’s main historical mining period from the late 1800s to early 1900s.

Drilling Results Pending

Flynn is now awaiting assay results from a maiden seven-hole diamond drilling program it recently completed at Grenadier.

Meanwhile, the company will reposition the rig it used at Grenadier to commence a maiden drill program at the Double Event prospect in the coming days.

Flynn will use this work to test multiple high-grade gold-bearing quartz-sulphide veins intersected in the planned trenching program over a 275m strike length.

“Processing of the drill core and sampling is well advanced and we look forward to reporting the assay results once we have received them,” Mr Marston said.