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FG1 - Flynn Gold

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Flynn Gold is focused on gold exploration in north east Tasmania and the Pilbara of Western Australia.

In north east Tasmania the portfolio comprises seven exploration licences prospective for gold, and tin. In the Pilbara, the Company has rights to a package of six projects (one granted, five in application). In addition to these two focus areas, the Company also holds two licences on the west coast of Tasmania that are prospective for zinc-silver, and gold licence applications in the Yilgarn region of WA.

The Company has a focus on exploration in north east Tasmania due to the recognised similarities between this region and the geology and gold mineralisation styles observed in the Victorian Goldfields on the mainland of Australia. The team at Flynn Gold has identified Victorian-style mineralisation in north east Tasmania. The exploration strategy for the north east Tasmanian projects is to focus on discovering new gold mineralisation through the use of structural interpretation, geological mapping, geochemistry, costeaning and drilling. Target selection and testing will utilise a model-driven approach, based on the ore genesis models.

In western Tasmania the main focus of exploration is for high grade, lode and/or vein hosted sulphide base metals deposits. A subsidiary target is for medium to large tonnage Irish-style carbonate-hosted Zn-Pb-Ag deposits hosted within the Ordovician Gordon Limestone such as along the Austral trend.

The early stage exploration in Western Australia is primarily targeting intrusive and/or shear hosted gold deposits in the Pilbara region. In the Yilgarn region the Company plans to commence a detailed tenement wide desktop analysis upon successful granting of applications with ground exploratory work to follow. Activities in WA beyond the granted tenement in the Pilbara will be dependent on whether, and if so when, applications are granted.

It is anticipated that FG1 will list on the ASX during May 2020.

 
Listing date10 May 2021 11:00 AM ##
Company contact detailshttps://flynngold.com.au/
Ph: (03) 9692 7222
Principal ActivitiesMineral Exploration
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeFG1
Capital to be Raised$10,000,000
Expected offer close date23 April 2021
UnderwriterNot underwritten. Taylor Collison Limited (Lead Manager)
 
Expected offer close date23 April 2021
Anticipated Listing date 10 May 2021 11:00 AM ##
Eventual Listing date 17 June 2021 11:00 AM ##

--- a difficult gestation, and somewhat underweight on arrival. 20c IPO, opened at 16c and closed on Day 2 at 15c
 
Expected offer close date23 April 2021
Anticipated Listing date 10 May 2021 11:00 AM ##
Eventual Listing date 17 June 2021 11:00 AM ##

--- a difficult gestation, and somewhat underweight on arrival. 20c IPO, opened at 16c and closed on Day 2 at 15c

Yes, FG1 is struggling after listing, but some encouraging news today. Drill hole BRDD003 has intersected several zones of high grade gold mineralisation.

Grades and widths are variable but it's a good sign nonetheless. They are definitely onto something at the Golden Ridge Project but more drilling is required. Currently, it's anyone's guess as to how much gold lies beneath the surface.


FG1240921.jpg
 
Going to need patience with this one, the drilling program is so slow that's the problem.
Currently drilled 1400m out of a planned 4000m along 250m of strike.
I can only assume they have just the one rig and assays are taking longer due to Covid constraints.
 
Still poking around NE Tassie, also got some WA Yilgarn acreage.

Geological analogy to the Victorian Goldfields – NE Tasmania is part of the Western Lachlan Orogen
• High-grade gold discovered by modern deep exploration in Victoria – similar untested depth opportunities exist in NE Tasmania
• Significant history of high-grade gold production – Beaconsfield Gold Mine the dominant producer (~2 Moz @ 15g/t Au)
• Flynn Gold has secured significant land holding with excellent potential for new discoveries of gold, tin and tungsten.


Screenshot_20230524-082336_Drive.jpg

Raised $3.8million, cash at hand end March of $5M ... MC of 10M.

Screenshot_20230524-082231_CommSec.jpg
 
Still poking around NE Tassie, also got some WA Yilgarn acreage.

Geological analogy to the Victorian Goldfields – NE Tasmania is part of the Western Lachlan Orogen
• High-grade gold discovered by modern deep exploration in Victoria – similar untested depth opportunities exist in NE Tasmania
• Significant history of high-grade gold production – Beaconsfield Gold Mine the dominant producer (~2 Moz @ 15g/t Au)
• Flynn Gold has secured significant land holding with excellent potential for new discoveries of gold, tin and tungsten.


View attachment 157264

Raised $3.8million, cash at hand end March of $5M ... MC of 10M.

View attachment 157265

This was one of the interesting presentations from the Sydney 2023 RIU.
It's on the tube, 1st session day 3.

The link between NE Tasmania and the Vic gold fields was something I wasn't aware of.
From the presentation it would seem that Flynn has a closer relationship with Fosterville than some of the Western Vic wannabees.

I don't hold but keeping a casual eye on it.
 
I don't hold but keeping a casual eye on it.
not doing it for me .... 7.6c . Been picked over already? ..

Flynn Exercises Option on Advanced
Gold and Battery Metals Projects
Highlights

• Flynn has exercised its Option to proceed with the purchase of 100% of the Firetower and Warrentinna Projects in northern Tasmania
• Firetower Gold and Battery Metals Project is hosted in the Mount Read Volcanic belt, one of Australia’s premier VHMS provinces, which includes the world class Mt Lyell, Rosebery, Hellyer and Henty deposits. Previous drilling has included 54m at 1.36 g/t Au and 17m at 5.37 g/t Au
• Previous drilling at the Warrentinna Project indicates the potential for a significant orogenic style gold system, with results including 5m at 28.93g/t Au
• Flynn has been successful in the Tasmanian Government’s Exploration Drilling Grant Initiative program with up to $132,000 of co-funding grants to support drilling at Firetower and Warrentinna
 
Previous drilling at the Warrentinna Project indicates the potential for a significant orogenic style gold system, with results including 5m at 28.93g/t Au

I guess it depends on how much other drilling was done in the area.

They have $5m cash and an EV of $5m @ 7.5c/share so plenty of leverage, in different times I'd have a small punt.

But in the current market I'd rather stand aside and see what develops.
 
I guess it depends on how much other drilling was done in the area.

They have $5m cash and an EV of $5m @ 7.5c/share so plenty of leverage, in different times I'd have a small punt..
First job I ever had was as a Field Assistant for Tas Mines dept during vac... bashed around regional mapping both NE and W coast, . I think the country was pretty well kicked over by 1910.. of course there may be deep deposits ... but that'll get expensive
 

Projects are in Tasmania and Western Australia.

Located right nearby Flynn’s Golden Ridge project, a “high-grade gold vein zone” 250m north of the Trafalgar Mine is now on geotechs’ radar. One word of caution: high grades pointed to as evidenced by a 99g/t gold rock chip, but a word on rock chips is valuable, here.

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

Company Website: https://flynngold.com.au/

Live Price chart: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^FG1&p=5&t=1
 
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