Flynn Gold Ltd (ASX:FG1) CEO Neil Marston tells Proactive the company has confirmed the significant potential for gold and the critical minerals cobalt, tungsten and copper at its 100%-owned Firetower Project in Tasmania in ongoing review and targeting work. The work, incorporating desktop studies and re-logging and re-sampling of historical diamond drill core, has confirmed coherent zones of high-grade polymetallic gold, cobalt, tungsten and copper mineralisation at the project.
Marston said: “Results from recent re-assaying of historical drill core demonstrate a strong correlation between cobalt, tungsten and gold mineralisation within the deposit.
“Earlier exploration was focused on gold, however, it is now clear that this project represents an exciting polymetallic opportunity.
“Cobalt is a critical mineral with increasing demand as a key manufacturing component in the global shift toward clean technologies. With approximately 70% of global cobalt production coming from the Democratic Republic of Congo, the world will need alternative sources of this battery metal, particularly from Tier 1 jurisdictions with strong ESG credentials such as Australia.
“Tungsten is considered one of the most critical minerals due to its importance across a wide range of applications in various fields and its inability to be substituted in many of these applications due to its high melting point and hardness.”
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