Flynn Gold Intersects 12.95m at 2.24g/t Gold and Tungsten Ahead of Resource Work
Key Takeaways
- Flynn Gold hit 12.95m at 2.24g/t Au, 0.46% WO₃, 0.18% Cu, 0.23% Co and 7.22g/t Ag in hole 2019FTD003E, extending Firetower along strike and at depth.
- Inside that interval sits 0.73m at 11.95g/t Au and 2.29% WO₃, showing the thick zone carries discrete high-grade pockets.
- These are the final 2026 assays, with metallurgical sighter testwork now the gate to a maiden Mineral Resource Estimate.
- The revised F300/F90 structural model and a possible northwest-plunging shoot give future drilling a sharper target, with the zone still open.
- With an A$8.5M market cap, A$1.12M cash (30 June 2026) and a rights issue closing Wednesday, funding and dilution remain the key watch points.
High-grade gold-tungsten extended at Firetower in latest drilling
Flynn Gold (ASX: FG1) has reported an intercept of 12.95m @ 2.24g/t Au, 0.46% WO₃, 0.18% Cu, 0.23% Co, 7.22g/t Ag from 156.9m in hole 2019FTD003E at its 100%-owned Firetower Project in northern Tasmania. The company says the result confirms depth and strike extensions of the gold-tungsten system.
These are the final assays from the 2026 drilling program. The company says metallurgical testwork is the next step ahead of a maiden Mineral Resource Estimate, which is a formal estimate of the quantity and grade of mineralisation in the ground.
The headline intercepts from hole 2019FTD003E include:
- 1.20m @ 3.95g/t Au, 0.93% WO₃ from 157.30m
- 2.58m @ 4.56g/t Au, 0.92% WO₃ from 167.27m
- 0.73m @ 11.95g/t Au, 2.29% WO₃ from 167.27m, associated with semi-massive sulphide mineralisation
The first two sit inside the broader 12.95m interval. For you, that matters because it shows the thick zone contains discrete higher-grade pockets, not just a uniform spread of lower grades.
Neil Marston, Managing Director and CEO
“…delivering an outstanding intersection of almost 13 metres of high-grade gold and tungsten mineralisation in extensional drill hole 2019FTD003E.”
“We are delighted to have successfully confirmed the continuity of this highly mineralised zone, which remains open along strike and at depth.”
Hole results at a glance
Two holes had assays returned from the priority mineralised zones. The second, FT-2026-002, returned predominantly lower-grade gold and polymetallic mineralisation, so the two results should be read side by side.
| Hole | Interval | Au g/t | WO₃ % | From m |
|---|---|---|---|---|
| 2019FTD003E | **12.95m** | **2.24** | **0.46** | **156.90** |
| FT-2026-002 | **16.40m** | **0.65** | **0.07** | **99.75** |
| FT-2026-002 | **23.8m** | **0.40** | **0.05** | **124.7** |
| FT-2026-002 (including) | **0.6m** | **3.81** | **0.15** | **129.50** |
Intervals are downhole lengths, and true width is not known.
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How does the revised geological model sharpen targeting?
Ongoing interpretation, incorporating recent drilling and a review of historical data, has identified two principal mineralised structural trends at Firetower.
- F300 Zone: a northwest-trending corridor with broad zones of polymetallic gold-tungsten-copper-cobalt mineralisation, including discrete high-grade intervals.
- F90 Zone: an approximately east-west trending corridor of broad, predominantly gold mineralisation, generally with lower tungsten and base metal grades, but with localised higher-grade gold and polymetallic intervals.
The F90 Zone appears to terminate against the F300 corridor. Wider and higher-grade polymetallic mineralisation occurs near F300, where the two trends appear to converge, which the company says suggests structural interaction may have influenced its distribution and intensity.
The 2019FTD003E intercept sits approximately 50m north-west of hole 2019FTD014E (9.64m @ 2.49g/t Au, 0.29% WO₃, 0.52% Cu from 200.13m). Together they support the interpretation of a possible northwest-plunging zone of higher-grade mineralisation within F300, which remains open to the north-west and at depth.
The company says the revised interpretation provides an improved understanding of where higher-grade mineralisation sits and will help guide future exploration and drill targeting. In plain terms, drilling can be aimed with more purpose.
Firetower at a glance
- Continuity of polymetallic mineralisation over a strike length of approximately 250m and up to 200m vertical depth from surface
- Located within the north-eastern extension of the Mt Read Volcanic Sequence
- Historical highlight: GP-90-10, 3.0m @ 17.20g/t Au, 1.10% WO₃ from 10.0m
Why does polymetallic gold-tungsten matter to investors?
A polymetallic system contains several metals in the same mineralised zone. At Firetower, the assays report tungsten (as WO₃), copper, cobalt and silver alongside gold.
That mix matters because the company describes the mineralisation as gold-tungsten with accessory copper, cobalt and silver, so more than one metal is being measured across each intercept. Assay results for each are reported side by side.
A Mineral Resource Estimate is the step where drilling data is turned into a formal figure for the size and grade of a mineralised zone. Metallurgical testwork comes first because it examines how the material behaves in processing, and the company says the sighter tests are required to finalise its maiden estimate.
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What are the next steps and near-term catalysts?
The company has set out planned Firetower activities for the remainder of 2026:
- Review of historical geophysical surveys across the entire project area, which is well underway
- Metallurgical sighter testwork
- Geological modelling leading to the estimation of a maiden Mineral Resource Estimate
Resource definition drilling at the Brilliant prospect within the Golden Ridge Project in NE Tasmania is ongoing, with assay results pending.
At the Brilliant prospect, the resource definition program is designed to tighten drill spacing and build the confidence needed for a future resource estimate, giving Flynn a second project advancing in parallel.
Marston said the company is “…at an important inflection point with significant news flow expected across both projects in the coming weeks.”
The current rights issue closes on Wednesday of this week, and eligible shareholders who have not yet accepted their entitlement are encouraged to take up their rights. The announcement does not disclose the rights issue’s price, size or terms.
The capital snapshot in the announcement shows:
- Share price: A$0.014
- Cash: A$1.12M (as at 30 June 2026, which may predate the rights issue)
- Debt: Nil
- Market capitalisation: A$8.5M
- Ordinary shares: 608.6M
Questions and comments can be posted on the Flynn Gold Investor Hub at https://flynngold.com.au/link/PQmLDP.
Ready to Learn More About Flynn Gold’s Firetower Project?
Flynn Gold’s final 2026 Firetower assays include 12.95m @ 2.24g/t Au and 0.46% WO₃, extending the gold-tungsten system along strike and at depth. With metallurgical testwork underway ahead of a maiden Mineral Resource Estimate, the project is moving into a pivotal phase.
Explore the Flynn Gold company profile on Discovery Alert to see the latest news, project details and investment potential across Firetower and Golden Ridge.