Flynn Gold expands drilling at Golden Ridge after hitting extensive gold veins system

Flynn Gold (ASX: FG1) is preparing to step up activity at its 100%-owned Golden Ridge project in north-east Tasmania after discovering an extensive system of gold-bearing quartz veins.

The company’s geologists have identified an area of previously unmapped historical prospecting trenches, pits and adits believed to have been excavated as late as the 1930s.

Golden Ridge is located in one of Tasmania’s most prospective gold areas and this latest find occurred just 250 metres north of the historic Trafalgar mine.

High-grade gold veins

“The company is excited by the discovery of multiple high-grade gold veins,” said managing director and chief executive officer Neil Marston.

“These gold veins were exposed in trenching over an area of historical mine workings, which appear unrecorded since they were dug about a century ago.”

An initial assessment from Flynn Gold’s geologists suggests that the vein system potentially expands the footprint of gold mineralisation at Trafalgar to a 500m-wide corridor that remains open in all directions.

Drilling adjusted

“With so many high-grade gold assays recorded at the surface, we have adjusted our ongoing diamond drilling program to test beneath these old workings and we look forward to reporting the results of this drilling shortly,” Mr Marston said.

Flynn has so far mapped and sampled 19 in-situ quartz-sulphide veins over a width of 65m in its trenching work, with initial grab samples collected including gold grades up to 76.6 grams per tonne gold.

Two historic adits have also been located in the area and appear to have been excavated beneath the gold veins exposed in the historic trench.

A grab sample taken from mineralised mullock material at one of the adit entrances returned 99.4g/t gold, 121g/t silver and 1.73% lead.

Depth extension

Flynn Gold is currently drilling a diamond hole beneath the new discovery area targeting depth extension of the gold-bearing vein zone at approximately 100m beneath the surface.

The planned end-of-hole depth is currently 250m, however Mr Marston said this may be extended to test the up-dip position of the veins.

Flynn Gold has already received government approval for additional drill holes aimed at enhancing its understanding of gold mineralisation in this area.

Soil sampling

Elsewhere at Golden Ridge, soil sampling is testing unexplored areas with targets such as Duke, Big Penny and Grenadier that were identified through previous soil sampling campaigns set to be followed up with subsequent in-fill soil sampling, rock chip sampling and field mapping.

Flynn Gold has brought in a structural geology consultant to help understand the fault architecture at Trafalgar and the overall Golden Ridge project.