Flynn Gold Extends High-Grade Gold-Tungsten Zone 80m Deeper at Firetower
Flynn Gold drilling extends high-grade gold-tungsten mineralisation 80 metres below previous results
Flynn Gold has reported first assay results from its 2026 Firetower diamond drilling programme, extending high-grade gold-tungsten-copper mineralisation at least 80m below previous drilling. The Firetower Project, located in northern Tasmania, is 100% owned by the company.
These results come from the first hole of a larger planned 1,600m drilling programme. Mineralisation has now been confirmed beyond 200m vertical depth and remains open at depth and along strike.
Extension drill hole 2019FTD014E returned a headline intercept of 9.64m @ 2.49g/t Au, 0.29% WO₃, 0.52% Cu, 0.04% Co, 9.9g/t Ag from 200.13m. Within this broader zone, the hole intersected 3.77m @ 4.30g/t Au, 0.30% WO₃, 0.37% Cu, 0.13% Co, 11.24g/t Ag from 200.13m, and 1.47m @ 4.62g/t Au, 1.10% WO₃, 2.20% Cu, 0.07% Co, 29.42g/t Ag from 208.3m.
The results validate the company’s geological model and demonstrate that the Firetower mineral system continues at depth — a critical step toward establishing resource potential.
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What is tungsten and why does it matter for investors?
Tungsten is an extremely hard, dense metal with the highest melting point of any element. Its primary uses include hardened steel alloys, cutting tools, military applications, electronics, and increasingly in clean energy technologies.
Scheelite, the mineral visible in Flynn Gold’s core photographs under ultraviolet light, is a primary tungsten ore. The bright fluorescent blue colour under UV light confirms the presence of tungsten-bearing mineralisation.
Tungsten is classified as a critical mineral by many governments due to supply concentration risks. China dominates global production, creating strategic supply vulnerabilities for technology and defence sectors in Western markets.
The presence of tungsten alongside gold at Firetower adds a strategic dimension to the project. Polymetallic deposits containing critical minerals like tungsten offer diversified commodity exposure and may attract additional investor interest as supply security concerns grow globally.
Drill results confirm polymetallic potential with copper grades strengthening
The latest drilling has revealed significant copper mineralisation within the gold-tungsten zone. The hole returned a peak copper result of 1.47m @ 2.20% Cu from 208.3m, with an exceptional 0.3m interval grading 8.74% Cu, 16.65g/t Au, 4.28% WO₃, 0.25% Co, 106g/t Ag from 208.3m.
The mineralised interval comprises multiple discrete high-grade zones within a broader polymetallic envelope, consistent with results from previous drilling. The increasing copper values potentially add a new dimension to the project, as noted by management.
Neil Marston, Managing Director and CEO
“This drill-hole intersected high-grade mineralisation about 80 metres below an earlier drill intersection, as predicted. Importantly, the hole returned not only strong gold and tungsten grades, but also increasing copper values, potentially adding a new dimension to the project and highlighting an increasingly compelling polymetallic opportunity.”
The presence of economic copper grades alongside gold and tungsten strengthens the polymetallic value proposition and may improve project economics in future development scenarios.
Drilling programme progressing with two additional holes completed
Flynn Gold has completed three drill holes totalling approximately 520m out of the planned 1,600m programme. Assay results are pending for the two additional completed holes: FT-2026-001 and 2019FTD015E.
The drilling strategy combines extensional and infill drilling with collection of core for metallurgical testwork to support future Mineral Resource studies. The company employed a cost-effective approach by re-entering and extending historical hole 2019FTD014, which Flynn interpreted had been terminated before reaching the main mineralised zone. This validated the company’s revised geological interpretation.
Programme progress:
- Total holes completed to date: 3
- Metres drilled: approximately 520m
- Planned programme: up to 10 holes, 1,600m total
- Extension drilling in 2019FTD014E: 115.15m added (from 163.0m to 278.15m end-of-hole depth)
The re-entry approach demonstrates capital efficiency whilst the broader programme is designed to support a maiden Mineral Resource Estimate.
Key assay results from 2019FTD014E
| Interval | Au (g/t) | WO₃ (%) | Cu (%) | Ag (g/t) |
|---|---|---|---|---|
| 9.64m from 200.13m | 2.49 | 0.29 | 0.52 | 9.9 |
| incl. 3.77m from 200.13m | 4.30 | 0.30 | 0.37 | 11.24 |
| incl. 1.47m from 208.3m | 4.62 | 1.10 | 2.20 | 29.42 |
| incl. 0.3m from 208.3m | 16.65 | 4.28 | 8.74 | 106.0 |
Cobalt grades for the intervals were 0.04% Co, 0.05% Co, 0.07% Co, and 0.25% Co respectively.
Historical drilling reinforces Firetower’s high-grade character
Drilling by Flynn Gold and previous explorers has demonstrated mineralisation continuity over approximately 250m strike length and up to 200m vertical depth, with the system remaining open. Key historical intercepts demonstrate the repeatability of the high-grade mineralisation style:
- GP-90-10: 3.0m @ 17.20g/t Au, 1.10% WO₃, 0.47% Cu from 10.0m, within 6.0m @ 9.27g/t Au, 0.59% WO₃
- 2019FTD007E: 1.7m @ 6.64g/t Au, 1.08% WO₃ from 121.0m, within 17.0m @ 2.31g/t Au, 0.51% WO₃
- 2019FTD006: 3.0m @ 8.59g/t Au, 0.83% WO₃ from 105m, within 9.0m @ 2.56g/t Au, 0.32% WO₃
Consistent high-grade intercepts across multiple drill holes increase confidence in the geological model and support the potential for a future Mineral Resource.
Next steps and path to maiden Mineral Resource
Flynn Gold has outlined planned activities for the remainder of 2026:
- Continue drilling programme, including metallurgical core collection
- Metallurgical testwork
- Geological modelling leading to maiden Mineral Resource Estimate
- Review of historical geophysical surveys across the entire Firetower Project area
Company snapshot:
- Share price: $0.021
- Market cap: $12.8M
- Cash (31 March 2026): $2.48M
- Debt: Nil
The clear pathway from current drilling through to Mineral Resource Estimate provides investors with defined catalysts to monitor over the coming months.
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Firetower’s position within a proven mineral province
Firetower is located within the north-eastern extension of the Mt Read Volcanics, one of Australia’s premier volcanic-hosted mineral provinces. The project sits in proximity to significant deposits including Mt Bischoff, Cleveland, and Avebury.
Flynn Gold holds thirteen 100% owned tenements in northeast Tasmania prospective for gold, tin and tungsten, plus the Henty silver-lead-zinc project on the west coast.
The project’s location within a historically productive mineral province with established infrastructure enhances its exploration and development potential.
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