High-Grade Results Support Expansion at Grenadier Prospect
Flynn Gold Limited (ASX: FG1) reported significant exploration progress at its Golden Ridge Project in north-east Tasmania during the June 2025 quarter. The Company confirmed a new quartz-sulphide vein system at the Grenadier Prospect, with trenching extending over 300 metres of strike.
Trenching delivered several key results including 0.6 metres at 13.8g/t Au from Trench 11, and 0.2 metres at 12.3g/t Au within a 6.0 metre interval grading 0.7g/t Au from Trench 13. A bulk sample collected from the G2 vein returned an average grade of 10.54g/t Au. Testwork using standard cyanide leach methods achieved average gold recoveries of 94.9%.
Golden Ridge Project, showing prospect areas
Flynn Gold commenced its maiden diamond drilling program at Grenadier in late June. The five-hole program will test the down-dip continuity of near-surface high-grade quartz-sulphide veins and examine the structural controls influencing mineralisation.
Trenching Validates Scale Potential at Golden Ridge
Flyn Gold Limited’s trenching program at Grenadier exposed multiple auriferous quartz veins containing arsenopyrite and pyrite. Trench 8 intersected 2.0 metres at 1.5g/t Au, while Trench 9 returned 3.4 metres at 1.6g/t Au, including a high-grade segment of 0.7 metres at 6.3g/t Au.
A short cuddy developed from Trench 9 allowed for additional in-situ sampling over an 11-metre strike. Highlights included 0.6 metres at 10.9g/t Au and 0.35 metres at 11.8g/t Au. Vein widths of 350mm to 700mm have been mapped over at least 80 metres.
The trend remains open to the northeast, supported by rock chip samples including 100mm at 2.1g/t Au collected beyond Trench 11. The Company confirmed that all trenches, except Trench 10, intersected the targeted G2 vein.
Grenadier Prospect, Trench Area Plan
Bulk Sample Confirms Metallurgical Recovery
Flynn Gold Limited (ASX:FG1) collected a 10-tonne bulk sample from Trench 9’s G2 vein to test processing viability. Twelve sub-samples produced gold grades averaging 10.54g/t Au. Gold recoveries ranged between 92.6% and 95.8% across the samples.
The Company found recovery levels consistent with prior testwork from the Trafalgar Prospect, which averaged 94.5%. Flynn will proceed with detailed testwork on a larger sample, with plans to evaluate gravity separation and additional leaching methods to support plant design.
Drilling Progress at Trafalgar and Trafalgar North
At Trafalgar, Flynn Gold completed four holes totalling 879 metres. These holes targeted extensions of high-grade mineralisation beneath historical mine workings. Assay results are pending.
At Trafalgar North, two diamond holes totalling 356 metres were completed to test strike extension. Hole TFDD021 intersected 0.5 metres at 2.9g/t Au from 72 metres. Hole TFDD022 returned 2.0 metres at 1.2g/t Au from 35 metres. The Company confirmed a 60-metre northern extension to the known mineralised zone.
TFDD022 intersected the granodiorite intrusive contact earlier than expected. It failed to reach a second targeted zone, possibly due to structural offset or truncation.
Trafalgar Prospect, Drill-Hole Location Plan
Double Event Identified as Emerging Target
Flynn Gold Limited confirmed the historical Double Event shaft and adit, as referenced in 1899 reports. Rock chip sampling at the site returned high gold grades, including 44.5g/t Au, 40.9g/t Au, and 18.5g/t Au from mullock near the adit.
The Company excavated shallow trenches during the quarter east and west of the shaft. Assay results are pending. No historical drilling records exist for the prospect, and Flynn has prepared drill pads for the upcoming program.
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Henty Project Advances Toward Drilling Approval
Mineral Resources Tasmania staff visited the Grieves Siding and Silver King Prospects within the Henty Project during the quarter. Recommendations from the visit are under review as the Company prepares drilling permit submissions.
Western Australia Projects Remain on Hold
Flynn holds exploration assets across four Western Australian regions including Pilbara, Yilgarn, Forrestania, and Lake Johnston. No fieldwork occurred during the June quarter across these tenements.
Cash Position and Capital Management
Flynn Gold Limited (ASX:FG1) reported a cash balance of $1.2 million as of 30 June 2025. Key cashflows during the quarter included $1.402 million from equity issues, $686,000 in exploration and evaluation costs, $244,000 in staff expenses, and $198,000 in corporate costs. Director and associate-related payments totalled $224,000.
The Company’s estimated funding covers 1.09 quarters of operations. Flynn confirmed that discretionary exploration can be scaled back if required. The Company also retains access to a $2 million standby equity facility through an At-The-Market Subscription Agreement signed with Dolphin Corporate Investments.
Operational Updates and Shareholder Engagement
All resolutions were passed at Flynn’s Extraordinary General Meeting on 16 April 2025. The Company relocated its registered office to Suite 2, Level 11, 385 Bourke Street, Melbourne. Contact details remain unchanged.
Flynn Gold also featured on “The Hole Truth” mining investment podcast. The Company continues to encourage shareholder engagement via its interactive Investor Hub.
