Flynn Gold continues to solidify its standing in the Tasmanian gold exploration industry, applying for an exploration licence nearby the historic Beaconsfield gold mine.
EL13/2024, which spans 40km2 surrounding the private Beaconsfield mining lease, covers a prospective 12km corridor along the Cabbage Tree thrust block, which contains numerous gold workings and prospects.
With historical production of 3.79 million tonnes at 14.5 grams per tonne gold for 1.77 million ounces, Beaconsfield is the largest gold mine in north-east Tasmania. Production ceased at the operation in 2012.
“This is an important strategic addition to our extensive portfolio of high-quality gold exploration tenure in north-east Tasmania,” Flynn Gold managing director and chief executive officer Neil Marston said.
“The new exploration licence application encompasses highly prospective ground covering the strike extensions to the Beaconsfield gold mine host sequence.”
Marston said the acquisition complements the company’s strategic focus on exploring for high-grade gold in north-east Tasmania, which is a recognised extension of the prolific Victorian goldfields.
“While the mining lease is excluded from our application, we believe there is significant potential for fresh gold discoveries to be made within the licence application area,” he said.
“Once the exploration licence is granted, we’ll compile and evaluate the historical information to generate targets before commencing field activities.”
As Flynn Gold develops a more targeted portfolio, the company has refined its north-east Tasmanian footprint by shedding 30 per cent of its existing landholdings in the region. Flynn said recent results had motivated the company to focus its exploration efforts on higher-priority areas.
Subscribe to Australian Resources & Investment and receive the latest news on commodity prices, resource developments, executive movements and more.