Quarterly Activities Report
Sydney, Oct 31, 2025 AEST (ABN Newswire) - Flagship Minerals Ltd (FLG.AX) announced the Quarterly Activities Report for the period ending September 2025, with a pivotal quarter for the growth of the company.
HIGHLIGHTS
- Flagship secures Pantanillo Dataset from Anglo:
o Flagship entered into a binding agreement with Anglo for Pantanillo's historical exploration dataset, a pivotal step with an estimated replacement cost of US$15-20m and 4-5 years' work.
o This positions Flagship to accelerate Pantanillo through feasibility and toward construction.
- Data review yields exemplary results:
o Many +100 gram x meter intersections, many intersections >100m and up to ~500m.
o Many holes ending in mineralisation around current 1.05Moz Au QFE (NI 43-101) pit shell.
o Metallurgical review indicates high and rapid gold recovery for oxide mineralisation, with gold recoveries of >80% after 30 days, de-risking the project.
o Gold in soil anomaly ~5km long and up to 1.2km wide, supported by elevated copper and molybdenum as well as other pathfinder elements.
- Clear and focused strategy supported by strategic EPC:
o Pivot to gold and copper complete, Pantanillo elevates Flagship to peer group leader.
o Data review confirms Pantanillo's advanced status, supports a rapid path to resource growth and feasibility, with an initial target of 100koz Au pa for 10+ years.
o Strategic EPC investor Xinhai commits A$2.5m equity placement and Board seat, positions Flagship for EPC (construction) credibility.
- Corporate:
o FLG continues to build investor awareness following its strategic repositioning, with strong investor engagement after recent events.
Flagship Minerals' Managing Director, Paul Lock, commenting on the Quarter said:
"This was a pivotal Quarter for Flagship.
"After securing the Pantanillo Gold Project in Quarter 2 - a 1.05Moz project with the majority of the resource in the Measured category, supported by over 20,500m of drilling and extensive metallurgical testwork - Flagship then secured Anglo's historical dataset for the project, comprising 32,827m of drilling inclusive of 13,949m of diamond core across 148 drillholes; 2,151 rock, soil and stream sediment samples; ground magnetic survey data covering much of the project area; extensive hardcopy technical data, plans and exploration reports.
"During the quarter and following the Anglo transaction, an intensive review of the dataset was initiated and is ongoing, with multiple releases indicated broad and high grade gold mineralisation with many holes finishing in mineralisation inside the current pit shell.
"Additional metallurgical test work and a soils review indicates that Pantanillo is a robust, doable gold project with substantial near pit shell and strike upside.
"Subsequent to the Quarter's end, Flagship secured Xinhai as an EPC partner and strategic investor, bringing construction credibility to Flagship's Board and Management, and providing a pathway to accelerate feasibility studies.
"Securing Pantanillo and then the historical data has redefined Flagship - positioning the Company as a leading gold explorer/developer on the ASX, and one of the few with a clear development pathway supported by a substantial Mineral Resource with strong growth pathways."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/EC5598ES
About Flagship Minerals Ltd
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.
| ||
|
