Flagship Minerals Ltd (ASX:FLG) Pantanillo Gold - Many Holes End In Gold Mineralisation

(MENAFN- ABN Newswire)

Flagship Minerals Limited (ASX:FLG) is pleased to advise that its ongoing review of the recently secured Pantanillo dataset from Anglo American Norte SpA (Anglo) yields further exceptional outcomes, with continuing robust widths and compelling down dip opportunities being identified, with many holes finishing in mineralisation and potential for expansion of nearer surface mineralisation.
KEY POINTS
- Dataset facilitates fast-tracking conversion of current 1.05Moz Au foreign estimate (QFE NI 43- 101) to a Mineral Resource Estimate in accordance with the JORC Code 2012.
- Review supports mineralised corridor +500m wide, potential for extensions
- Many drill holes with broad intercepts end in mineralisation, including:
o 142m @ 0.74g/t Au from 58m to end of hole (EOH) (PNN-10-18RC)
o 192.6m @ 0.63g/t Au from 4m to EOH (PNN-10-06DDH)
o 189m @ 0.56g/t Au from 54m to EOH (DDH-PN-02)
o 174m @ 0.54 g/t from 76m to EOH (PNN-10-27DDH)
- Potential identified for shallow higher grade zones, some containing silver.
o 10m @ 2.90g/t Au and 16g/t Ag from 35m (PNN-11-43RC)
o 3m @ 4.09g/t Au and 21g/t Ag from 37m (PNN-11-44RC)
- Provides pathways for planned drilling aiming for lateral, strike and down-dip MRE growth.
- Flagship continues to collate and validate drillhole data and supporting information for use in Mineral Resource estimation.
- Ongoing review of additional exploration data.
Flagship Minerals' Managing Director, Paul Lock, commented:
"The recently secured Pantanillo exploration dataset continues to provide insights on the geology and potential for the current 1.05Moz Au foreign estimate of mineralisation at Pantanillo Norte.
"The results continue to indicate that many drill holes end in mineralisation at high grades on all cross sections, including 4m @ 1.57g/t Au on hole SR97-PN01, 14m @ 1.19g/t Au on hole PNN-10-27DDH, 30m @ 0.76g/t Au from 170m on hole PNN-10-18RC and 84m @ 0.87g/t Au from 158m on hole DDH-PN-02.
"These higher grade zones are generally open at depth, providing attractive drill targets for down dip extensions, particularly in the central to eastern portions of the mineralised zone where we are seeing silver in association with higher grade gold.
"These higher grade zones with silver including 10m @ 2.90g/t Au and 16g/t Ag from 35m on hole PNN-11-43RC including 6m @ 4.71g/t Au and 26g/t Ag from 36m. This and other similar intersections are interpreted to be the Rosamaria Vein, which remains open down-dip and along strike to the west of this hole and has been mapped at surface for over 400m.
"There also appears to be potential to define additional shallow mineralisation on the margins of the mineralised corridor.
"In summary there is potential for the discovery of significant Mineral Resources in the central to eastern portions of the mineralised zone."
Background
The project data acquired from Anglo is extensive and is comprised of over 700 folders, containing >10,000 individual files all of which totals over 32GB of data. Preliminary review shows the data and associated files are generally in good order. Flagship has elected to initially concentrate on the drillhole data associated with the QFE in order to expedite the preparation of a JORC (2012) Mineral Resource Estimate for the project.
The drillhole database contains 183 holes for a total of 30,370.2m of drilling and comprises 18,865 assayed samples across 29,848.5m of drilling. The bulk of this drilling has been conducted at Pantanillo Norte where 1.05Moz of Au @ 0.69g/t Au has been defined QFE of mineralisation. Flagship will use this drillhole data and other supporting information to prepare a JORC (2012) Mineral Resource estimate for the Pantanillo Norte deposit.
Flagship has also acquired approximately 14,000m of diamond drill core from 48 holes drilled at Pantanillo Norte. This core, as well as a large amount assay pulps and reject samples from the previous diamond core and RC drilling are available for analysis.
Flagship has generated a new set of assay intersections from the drillhole data used in the QFE. The intersections are calculated at a lower cut-off of 0.15g/t Au, allowing for up 6m of internal dilution at Flagship Minerals Ltd's (ASX:FLG) strategy is to secure and develop projects which it believes will position the Company as a low-cost producer of Copper and Lithium, metals that matter. Specifically, Flagship Minerals seeks to secure low capital intensity projects in low-cost jurisdictions and infrastructure rich settings, projects which are positioned for high margin outcomes, and projects which are proximal to industry, chemical processing, and manufacturing.

-p src="http://www.abnnewswire.net/images/buts/twitter-social.png" border="0">

Paul Lock Managing Director M: +61 2 7228 7994 E: ... Elissa Hansen Company Secretary, Australia E: ... Media or investor inquiries: Robert Williams Financial and Corporate Relations (FCR) E: ... T: +61-477-666-255

MENAFN23092025000111011020ID1110102614