Flynn Gold Eyes Fresh Drill Targets Across 95% Untested 6km Firetower Corridor

Flynn Gold has engaged geophysical consultants Resource Potentials Pty Ltd for a project-wide re-interpretation of historical geophysical datasets across its 100%-owned Firetower Gold-Tungsten-Copper Project in northern Tasmania. Historical drilling has tested less than 5% of a 6 kilometre corridor of anomalism between Firetower West and Firetower East, with the study expected to be completed in Q4 2026. The reprocessing positions the company to prioritise high-value drill targets across a largely untested mineralised system.

Flynn Gold launches project-wide study to unlock fresh gold-tungsten-copper targets at Firetower

The company announced on 29 July 2026 that it has commissioned Resource Potentials Pty Ltd to reprocess historical geophysical surveys using the latest computing technology. The study aims to generate high-level interpretation and targeting across the Firetower Project, focusing on areas that have received minimal drilling attention to date. Management believes the current drilling focus on the Firetower deposit itself represents only a small part of a much larger mineralised system.

Why only 5% of a 6km system has been drilled

A 6 kilometre zone of anomalism extends between the Firetower West and Firetower East prospects, yet current and historical drilling has tested less than 5% of that corridor. Most historical drilling concentrated on the Firetower deposit itself, leaving the broader strike length largely unexplored. Sub-surface gold-tungsten mineralisation identified in drilling to date at the Firetower deposit is spatially associated with a zone of high chargeability, which appears to continue for several kilometres along strike.

Several generations of geophysical surveys have been completed historically in a piecemeal approach over this zone:

• 2002 GAIP survey (Auriongold)
• 2013 PDIP survey (Unity Mining)
• 2018 OPDIP survey (Greatland)

These surveys highlighted apparent continuity of mineralisation, particularly between the Firetower and Firetower East prospects.

Neil Marston, Managing Director and CEO

“While our current drilling is located on the Firetower deposit itself, which has been the focus of most of the historical drilling, we believe it represents only a small part of a much larger mineralised system.”

“The extensive Firetower mineralised system is largely untested by drilling so we want the best information available to determine where to explore next outside of the current focus area.”

What the study will cover and who’s doing it

Resource Potentials Pty Ltd, described as a leading Australian geophysical consulting group, will re-process and re-evaluate historical surveys using their latest computing technology. The study is scheduled for completion in Q4 2026.

The four focus areas are:

1. Airborne magnetic and radiometric survey data compilation, processing and imaging
2. IP survey data compilation, processing and imaging
3. Airborne electromagnetic (EM) survey data compilation, processing and imaging
4. High-level interpretation and targeting, generating target areas for follow-up exploration and drilling

Modern reprocessing of legacy data represents a low-cost approach to generating drill-ready targets before committing exploration capital to the ground.

Understanding geophysical reprocessing

Geophysical surveys detect sub-surface mineralisation signatures without drilling. Induced Polarisation (IP) measures chargeability, which can indicate sulphide mineralisation. Magnetic surveys detect magnetic minerals like magnetite, whilst radiometric surveys measure naturally occurring radioactive elements that can indicate rock types. Electromagnetic (EM) surveys detect conductive bodies, often associated with mineralised zones.

Reprocessing historical data with modern software can reveal targets earlier operators missed. Advances in computing power and processing algorithms allow geophysicists to extract more information from the same raw data, identifying subtle anomalies that may have been below the detection threshold of older techniques.

For investors, this represents a cost-effective, de-risking step that stretches the balance sheet whilst expanding the target inventory across an under-explored asset.

The Firetower asset and Flynn’s Tasmanian footprint

Firetower is an advanced-stage polymetallic gold-tungsten-copper project located within the north-eastern extension of the prolific Mt Read Volcanics, one of Australia’s premier volcanic-hosted mineral provinces. The project has previously been held by substantial mining and exploration companies including CRA Exploration Pty Ltd, Noranda Pty Ltd, Plutonic Operations Limited and Greatland Gold plc. Flynn Gold acquired the project in 2023.

Beyond Firetower, the company holds thirteen 100%-owned tenements in northeast Tasmania, highly prospective for gold, tin and tungsten, plus the Henty silver-lead-zinc project on Tasmania’s mineral-rich west coast.

What comes next for Flynn Gold investors

The study is expected to deliver high-priority targets and follow-up exploration recommendations in Q4 2026, serving as the precursor to expanded drilling beyond the current focus area. The company’s strong cash position of $2.48 million with nil debt supports next-phase activity.

This represents a low-cost, high-leverage step to potentially unlock a much larger mineralised system on a 100%-owned asset in a tier-one mineral province. The blue-chip predecessor operators validate the prospectivity of the tenement, with Flynn now holding the entire project outright.

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