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Flynn Gold Ltd (ASX:FG1) CEO Neil Marston speaks to Thomas Warner from Proactive after the exploration company announced it has secured a binding option agreement to acquire two exploration licences at Parker Dome, just 50 kilometres north of the world-class Mount Holland Lithium Project in Western Australia.  

Simultaneously, the company is raising A$2.4 million via a placement and share purchase plan (SPP) to further exploration activities at its West Australian and Tasmanian projects.  

Marston highlights the high potential for lithium and the company's plan to explore the tenements before committing to a purchase. He says the acquisition, priced at around $500,000 in cash and script with additional deferred considerations, aligns well with Flynn Gold's existing lithium projects.  

Historically, the focus on these tenements was gold, but recent shallow drilling revealed untapped lithium potential. The company plans fresh drilling in the new year to explore this further. Alongside this expansion, Flynn Gold is conducting a capital raise of $2.4 million, including a shareholder meeting scheduled for January.  

Looking ahead, Flynn Gold aims to start preliminary sampling at Parker Dome before Christmas and initiate drilling on identified targets post capital raising completion. Additionally, Marston shared updates on ongoing activities in Tasmania.

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Flynn Gold adds to lithium landholding, launches fundraise