Page 50 - pd294-June21-mag-web_Neat

soUtHeRn stAtes

In like Flynn

ot content with being the first new Tas-
Nmanian listing in 15 years, Flynn Gold
Ltd has set its sights on making a game-
changing discovery to rival the likes of
Hemi and Julimar.
Flynn debuted on the ASX last month
following an oversubscribed $10 mil-
lion IPO, in the process breaking a long
drought for new floats with a strong Tas-
manian flavour.
While the Melbourne-based company
also has a suite of prospective tenements
in Western Australia’s Pilbara region to
explore, Flynn’s main focus will be the
Golden Ridge and Portland projects in the
north-east of the Apple Isle.
Flynn director John Forwood said the
company was chasing the same rewards
afforded to De Grey Mining Ltd and Chal-
ice Mining Ltd for being a first mover in an
underexplored region.
“We’ve seen a lot of interest from the
market in junior explorers taking on new or
forgotten geology,” Forwood told Paydirt.
“I’m talking about those WA guys like De
Grey who made a great discovery at Hemi
in intrusions, whereas previously everyone Flynn Gold started drilling in north-east Tasmania last month after closing an oversubscribed
was looking in the greenstones, and then $10 million IPO
Chalice who made a fantastic discovery at
Julimar in the South West terrain, which the mid-1990s that we can repeat some the zinc carbonate before resuming drill-
people knew had some nickel-copper sul- of those thick gold intersections and ing at the project from 2022.
phides, but everyone sort of forgot about then start to expand the prospect from In WA, the company actually pegged
it and poo-pooed it to an extent, but they the known to the unknown. We think the its Pilbara tenements about 15km to
went back and obviously reinvigorated that market, as it is, will really reward that sort the south of Hemi before De Grey an-
belt. of exploration success where you can nounced it had found something signifi-
“That sort of sentiment and the mar- point to something big. cant there. Flynn is planning to complete
ket rewards for producing a discovery in “The confidence of hitting some de- some initial surface work during the cur-
different/overlooked geology – and with cent reportable intersections early on is rent field season to generate drill targets
potential for scale – that’s what we’re pretty high and I think that’s given inves- for next year.
trying to do in north-east Tasmania, par- tors a bit of comfort that this is not some “There’s been some very limited sur-
ticularly with the Golden Ridge project.” grassroots, early-stage thing which is face work done on that ground in the
Diamond drilling at Golden Ridge going to take a long time to get your head past which generated some gold anoma-
kicked off last month to follow up on the around.” lies but also some lithium anomalies as
previously identified gold anomalism Flynn has already completed one well, but they’ve never been drilled,” For-
extending over an 8km strike within the round of drilling at Portland and is plan- wood said.
granodiorite-hornfels contact zone. ning to return the drill rigs to site during “Those anomalies look a lot more in-
Historic intersections from the Brilliant the second half of the year. teresting now in light of Hemi being just
prospect include 34.5m @ 1.3 g/t gold, Portland has been earmarked as a up the road.”
73m @ 1.76 g/t from 107m, 95m @ 0.95 potential extension of the high-grade Forwood is joined on the Flynn board
g/t from 126m and 49m @ 1.2 g/t from Fosterville-style mineralisation observed by chairman Clive Duncan and executive
68m. Previous explorers have compared in Victoria. An outcropping discovery at director Sam Garrett. Doug Kirwin, who
the intrusion-related gold system at Windy Ridge returned an intercept of was part of the discovery team which
Golden Ridge to the one which hosts the 10m @ 5.3 g/t gold from last year’s gov- found Oyu Tolgoi in Mongolia, is the
5 moz Fort Knox deposit in Alaska. ernment co-funded drilling programme. company’s technical advisor.
Analogies have also been drawn be- Flynn also has a zinc project near the Until recently, Flynn and its predeces-
tween Golden Ridge and Red 5 Ltd’s Henty gold mine on the west coast of sor Pacific Resource Trends were pri-
King of the Hills project in WA. Tasmania which it drilled in 2018, return- vately funded, with the majority of that
“It’s a modest grade but a big tonnage ing a best hit of 13m @ 9% zinc. For- investment coming from Colin Bourke,
potential target,” Forwood said. wood said the company needed to un- who is now the company’s major share-
“We’re very optimistic from the histori- dertake further metallurgical studies on holder.
cal drilling that was done by MPI back in how to optimise future recoveries from – Michael Washbourne

Page 50 JUNe 2021 aUSTRaLIa’S PaYDIRT