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Flynn Gold Ltd. ( (AU:FG1) ) has provided an update.
Flynn Gold has reported exceptional high-grade tungsten assays of up to 14.75% WO3 from rock chip sampling at its Gorge Creek Tungsten Prospect in northeast Tasmania, with accompanying elevated silver, gold and bismuth values that indicate an intrusive-related tungsten system. Soil and rock sampling have defined a broad tungsten-bismuth anomaly over roughly 400m by 150m, including an undrilled high-grade zone at surface containing sheeted quartz veins with wolframite and scheelite, prompting plans for trenching, channel sampling and geophysical surveys ahead of potential drilling.
The discovery at Gorge Creek, which hosts evidence of historical small-scale tungsten mining from the late 1960s to early 1980s, comes as tungsten prices are at record levels and global demand for critical minerals is strong. While Flynn remains focused on advancing its Golden Ridge gold project, the Gorge Creek results and parallel drilling at its Henty silver-lead-zinc project and extended drilling at the Mangana gold project highlight growing optionality in the company’s Tasmanian exploration portfolio and may enhance its strategic positioning in critical and precious metals.
The most recent analyst rating on (AU:FG1) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Flynn Gold Ltd. stock, see the AU:FG1 Stock Forecast page.
More about Flynn Gold Ltd.
Flynn Gold Ltd. is an Australian mineral exploration company focused on gold and critical minerals projects in Tasmania. The company’s portfolio includes the flagship Golden Ridge gold project as well as regional targets such as the Warrentinna Project in northeast Tasmania and the Henty silver-lead-zinc project near Zeehan in the state’s northwest.
Average Trading Volume: 1,140,165
Technical Sentiment Signal: Sell
Current Market Cap: A$14M
For an in-depth examination of FG1 stock, go to TipRanks’ Overview page.