GGPChat

Flynn Gold Limited is pleased to announce that diamond drilling has commenced at the Company’s 100%-owned Warrentinna Project in NE Tasmania.

Drilling has commenced at the Warrentinna Project testing a high grade, near-surface gold target zone identified by historical drill results that include:

o WTR013:

▪ 5.0m @ 28.93g/t Au from 36.0m, including 0 1.0m @ 103.25g/t Au from 37.0m

o 2019WTD001:

▪ 21.7m @ 3.3g/t Au from 9.3m, including 0 2.2m @ 12.0g/t Au from 10.8m

o 2019WTD002:

▪ 11.7m @ 2.8g/t Au from 115m

• The diamond drill program will test highly prospective orogenic-style gold mineralisation at Warrentinna which is defined by historical mine-workings over a largely untested 6km-long corridor with potential for near-surface gold resources

• Drilling at Warrentinna is the first in a series of drill programs that will test high-priority exploration targets across the Company’s regional exploration projects in Tasmania.

The Warrentinna Project (EL30/2004) is located in north-east Tasmania, 40km northwest of Flynn’s Golden Ridge Project. The tenement was recently acquired from Greatland Gold plc....

https://wcsecure.weblink.com.au/pdf/FG1/02716681.pdf

Just as a reminder, or for anyone new to GGP, following the initial consideration paid by Flynn Gold for the Firetower & Warrentinna tenements in Tasmania (A$200,000 to be satisfied by the issue of two million (2,000,000) Flynn Gold shares at a deemed issue price of A$0.10 per Flynn Gold share), the deferred considerations are:

i) A$500,000 upon the definition of a Jorc-compliant mineral resource of at least 500,000 ounces of gold in aggregate within one or both of the Tasmanian tenements (payable in cash or Flynn Gold shares, at Flynn Gold's election);

(ii) A$500,000 upon the issue of a permit to mine by mineral resources Tasmania in respect of any part of the Tasmanian tenements (payable in cash or Flynn Gold shares, at Flynn Gold's election); and

(iii) A 1% net smelter royalty payable to greatland in respect of any production from the Tasmanian tenements.

"CEO Neil Marston tells Proactive diamond drilling is underway at the company’s Warrentinna Project in northeastern Tasmania, with a focus on high-grade, near-surface gold targets..."

https://www.proactiveinvestors.co.uk/co ... 28296.html