Flynn Gold discovers near-surface gold system

Flynn Gold believes it has unearthed a near-surface gold system at its Warrentinna project in Tasmania that could extend to a depth of greater than 100m.

After completing two holes for 357m as part of a maiden diamond drilling program, Flynn Gold’s best assays were the following:

• 2m at 2.5 grams per tonne (g/t) gold from 68.9m, including 2.1m at 7g/t gold
• 8m at 1.2g/t gold from 92m, including 0.3m at 5.6g/t gold.

Multiple zones of auriferous quartz veining were intersected, confirming what Flynn Gold believes to be highly prospective orogenic-style gold mineralisation that coincides with historical mine workings over a largely untested 6km-long corridor.

“Our maiden diamond drilling program has confirmed that the Warrentinna project has potential for gold resources near surface and proven to extend the depth of mineralisation to greater than 100m,” Flynn Gold managing director and chief executive officer Neil Marston said.

“Previous explorers have produced some remarkable high grades at Warrentinna. Our drilling has confirmed the existence of multiple zones of gold mineralisation and added a structural context which will be used in targeting for future drilling campaigns.”

Historical drill results at Warrentinna include the following:

• 5m at 28.93g/t gold from 36m, including 1m at 103.25g/t gold
• 7m at 3.3g/t gold from 9.3m, including 2.2m at 12g/t gold.

Flynn Gold’s maiden Warrentinna drill program will form the basis of a refined geological model and preliminary mineral resource model. These studies will be used to identify the best locations for follow-up drilling.

Flynn Gold is currently undertaking a share purchase plan (SPP) to raise $600,000 via the issue of 10 million ordinary shares at $0.06 per share.

Existing shareholders will have the opportunity to subscribe to up to $30,000 per shareholder through the SPP, which is expected to close on Monday January 22.