ASX: FLG - Flagship Minerals
- Matt Birney
- Jun 22
- 4 min read
Flagship Minerals: A new copper play with a huge target and a possible new IPO
Flagship Minerals Managing Director Paul Lock on 3AW, 2GB & 6PR Bulls N' Bears Report
ASX-listed Flagship Minerals Managing Director Paul Lock talks to Matt Birney on Bulls N’ Bears about Flagship’s new copper project in a tier one jurisdiction with a massive drill supported exploration target
TO LISTEN TO THE FLAGSHIP MINERALS AUDIO INTERVIEW - CLICK BELOW
Flagship's share price has run fivefold since September on its Isadora Gold Project in Chile, and with AI data centers chewing up the world's copper supplies like never before, Flagship has now added a complementary copper project in Canada that comes replete with a huge exploration target. The Whipsaw Project is a big porphyry-style copper play in a serious mining postcode, and the first question is obvious: What's the potential size of the prize?
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by copper and gold explorer, Flagship Minerals, ASX code FLG. I'm Matt Birney, and I'm joined now by the Managing Director of Flagship Minerals, Paul Lock.
Matt Birney - Hi, Paul.
Paul Lock - Yeah, g'day, Matt. How are you?
Matt Birney - I'm good. Okay, so Flagship's share price has run fivefold since September on its Isadora Gold Project in Chile, and with AI data centers chewing up the world's copper supplies like never before, Flagship has now added a complementary copper project in Canada that comes replete with a huge exploration target.
Matt Birney - The Whipsaw Project is a big porphyry-style copper play in a serious mining postcode, and the first question is obvious: What's the potential size of the prize? Okay, Paul, we'll get to that in a minute, but firstly, just anchor the project for me. Where is it, and what's the geological neighborhood around it like?
Paul Lock - Okay, Matt, uh, it's in British Columbia, Canada, hundred and sixty kilometers east of Vancouver and just next to HudBay's Copper Mountain. Uh, there's, uh, some big mining activity there.
Matt Birney - Okay, so you've put an exploration target around Whipsaw, a formal target. Hit me with the range. What, what are the tonnenes, grades?
Matt Birney - And give me its broader mineral makeup.
Paul Lock - Yeah, yeah. So look, this is a, a copper porphyry. Uh, we've got .51 to 1.02 billion tonnes at .2 to .4 copper equivalent. It's in a mineralized zone of 3.7 kilometers by 1.2 kilometers, and the target goes down to around 450 meters. So there's a lot happening there, but keeping in mind our neighbour, their project goes down to around 650 meters at this point.
Matt Birney - What other minerals have you got there?
Paul Lock - Uh, well, there's copper, but then there's some byproducts. So it's moly, it's a copper moly, and then we've got a bit of gold and silver.
Matt Birney - Right. So that's a damn big exploration target. How robust is the work that's gone into it? How did it get pulled together?
Paul Lock - Well, there's a lot of historical drilling there, so it's really robust, and then it's supported by a lot of geological mapping, soil geochemistry, and geophysical surveys.
Matt Birney - So it is a robust ET, or exploration target. It's not based on us looking at a hill. It's, it's really there.
Matt Birney - Well, let's talk about historical drilling. What are some of the better drill hits that, that have popped up there?
Paul Lock - Yeah, I'll give you our two best. Got a 194 meters at .3 copper equivalent from 4.4 meters, and then 283 meters at .28% copper equivalent from 70 meters.
Paul Lock - Our deepest drill hit is 359 meters. And then HudBay's Copper Mountain next door, they're at 650 meters, so there's a lot of upside in this, along strike and at depth.
Matt Birney - Pivoting back to your Chilean Isadora Gold Project, just remind me the gold resource of that project and what's the plan here?
Matt Birney - Are you looking to jointly develop Whipsaw alongside Isadora?
Paul Lock - Well, we see Isadora as our pathway to quick cash flow, so that's a, um, gold porphyry. It's heap leachable. It's 2.1 million ounces at .56 grams a tonne. Where we are in the Maricunga, this is a low CapEx project, very low CapEx.
Matt Birney - And you'll develop both jointly alongside each other, will you?
Paul Lock - No, I think we'll spin out our Whipsaw into a new co. That's the sort of project which, uh, will attract a big major as a, uh, a co-financier.
Matt Birney - Paul Lock from Flagship Minerals
Matt Birney - Thanks for joining me on Bulls N' Bears. And remember, we're only here to give you information, not advice, which you should, of course, seek independently.
Matt Birney - I'm Matt Birney, and this is Bulls N' Bears.
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