Highlights

  • Flynn Gold achieved 94% average gold extraction from low-grade Golden Ridge ore via conventional cyanide leaching.
  • Metallurgical tests confirm Golden Ridge ore is free-milling, requiring no complex pre-oxidation or roasting.
  • Drilling continues across Trafalgar, Link Zone, and Tinkers Field prospects in northeast Tasmania.
  • FG1 also holds prospective gold and lithium tenements across the Pilbara in Western Australia.

A 94% gold extraction rate from low-grade ore is the kind of metallurgical result that transforms a prospect into a project — and that is precisely what Flynn Gold (ASX:FG1) has just delivered at its Golden Ridge intrusive-related gold system in northeast Tasmania.

The Golden Ridge Metallurgical Breakthrough

Testwork at the Golden Ridge Project demonstrated gold extraction rates averaging 94% from low-grade mineralisation via conventional cyanide leaching. This high recovery rate is significant because it confirms the ore is free-milling — meaning it does not require expensive and time-consuming pre-oxidation or roasting before processing. Standard, low-cost processing unlocks dramatically better economics for any future development.

The Golden Ridge Project covers an 8-kilometre intrusive-related gold system in northeast Tasmania. Diamond drilling and structural mapping across the Trafalgar, Link Zone, and Tinkers Field prospects continue to intercept sheeted quartz-sulphide veins and disseminated gold within granodiorite intrusive contact aureoles.

District-Scale Discovery Potential

Field teams have delineated multiple untested geochemical targets along the regional granodiorite contact zone, confirming district-scale discovery potential analogous to Victoria's high-grade orogenic systems. The identification of these targets provides a pipeline of drill-ready opportunities beyond the immediate Trafalgar and Link Zone areas.

Flynn Gold also holds prospective gold and lithium tenements across the Pilbara in Western Australia, including the Mount Dove and Yarrie projects, providing geographic diversification across two of Australia's most productive resource provinces.

Australian Dollar Gold Price Adds Commercial Urgency

With Australian Dollar spot gold prices exceeding A$3,800 per ounce, discovering bulk-tonnage or high-grade intrusive-related gold deposits in Tasmania carries substantial commercial relevance. The Golden Ridge project benefits from excellent local infrastructure including sealed roads, water access, and grid power in a mining-supportive jurisdiction.

Flynn Gold shares traded at $0.013 on 2 October 2026, with a market capitalisation of $7.91 million. The stock declined 45.83% over the trailing 12 months, reflecting broad financing headwinds for early-stage exploration juniors.

Execution Risks and Funding Considerations

Flynn Gold does not generate commercial production revenues and operates with modest cash reserves, requiring ongoing reliance on equity placements to fund sustained drilling. Additional risks include assay turnaround times, drill contractor availability in regional Tasmania, narrow-vein structural reconciliation, and fluctuations in global gold spot pricing.

The company's primary near-term priority is translating its metallurgical breakthrough and geological understanding into a systematic resource definition programme, converting the favourable recovery data into a foundation for maiden resource estimation.