Paul Lock

Founder, Flagship Minerals Limited (ASX: FLG), an exploration company focused on securing and developing assets which are situated superior strategic settings.

[Paul Lock @PaulDavidLock]

@Rio2Limited A really great outcome @Rio2Limited, @BlackAlex58, Andrew Cox and the rest of the Rio2 team.

[Paul Lock @PaulDavidLock]

@flagshipmineral recently acquired #Pantanillo dataset continues to produce the goods. 🚀

Today’s release focuses on cross sections 10580E, 10630E and 10730E.

What we are seeing are many drillholes pulling up in mineralisation, and the grades and widths are exceptional, with several drill holes showing high grade intersections finishing in mineralisation:
✅ PNN-10-04DDH on CX 10630E is a great example, with 109.5m @ 1.18g/t Au from 148m to end of hole, and
✅ PNN-10-01DDH on CX 10730E, with 65.4m @ 0.97g/t from 136m to end of hole.

These results further confirm Pantanillo’s credentials as a large, scalable heap leach opportunity with substantial strike and down dip extension potential.

#FLG's Management 🧑‍🍳 🍴 "eat their own cooking" because they believe Pantanillo offers fantastic resource expansion and value upside.

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Flagship Minerals (ASX:FLG) @flagshipmineral]

@flagshipmineral continues Pantanillo data review.

🚀 Mineralised zone up to 500m wide supported by large intervals of gold mineralisation.

🚀 Many drill holes with exceptional broad intercepts end in mineralisation, including:
✅109.5m @ 1.18g/t Au from 148m (PNN-10-04DDH)
✅75.4m @ 0.87g/t Au from 126m (PNN-10-01DDH)
✅177.9m @ 0.66g/t Au from 18m (PNN-10-03DDH)
✅48m @ 0.66g/t Au from 200m (PNN-10-02DDH)
✅152.8m @ 0.51g/t Au from 114m (PNN-10-30DDH)

Results continuing to support potential for significant MRE growth.

✅Flagship is fast-tracking the conversion of the current 1.05Moz Au foreign estimate (NI 43-101) into a Mineral Resource Estimate in accordance with the JORC Code 2012.

✅Significantly increase the Mineral Resource without immediate drilling, leveraging the newly acquired data and updated economics.

Read the release: https://t.co/UwCPJLG8yD

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

Great outcome for $FLG - Pantanillo is a +1Moz strategic gold play - Management "eat their own cooking" 🍴 - just reported monster intersections:
✅Highest Grade: 86m @ 1.54g/t Au
✅Longest: 493m @ 0.53g/t Au
✅Top 20: Average 205m @ 0.65g/t Au
See more: https://t.co/CWYWcbb5tF
$FLG #FlagshipMinerals #Gold

[Paul Lock @PaulDavidLock]

Thanks @don_camillo45 and congrats @BlackAlex58 on @Rio2Limited's move to TSX, and we at @flagshipmineral are looking forward to the opportunity of catching up.

We think we can get to production a little faster than this as we have the advantage of Rio2's pathway and recent experience, recent economics for several projects around #Pantanillo, a more enthusiastic permitting environment, and a more enthusiastic equity market, and we have initiated preliminary permitting processes. We don't see a timeline longer than our peers, particularly in Aus., US and Canada, and we are of course aiming for better. Nevertheless, a hypothetical five year timeline with a target $FLG MCap equal to Rio2’s today, and assuming a conservative 1/2 dilution on equity, gives an IRR of 85% on investment. That's not too bad - but clearly it is a hypothetical and not investment advice.

[Paul Lock @PaulDavidLock]

Great outcome for $FLG - Pantanillo is a +1Moz strategic gold play - Management "eat their own cooking"🍴- just reported monster intersections:
✅Highest Grade: 86m @ 1.54g/t Au
✅Longest: 493m @ 0.53g/t Au
✅Top 20: Average 205m @ 0.65g/t Au

[Flagship Minerals (ASX:FLG) @flagshipmineral]

@flagshipmineral began its review of recently purchased Pantanillo dataset, dataset comprises >10,000 documents and +100 tonnes of core, pulps and sample.

🚀 Data confirms and enhances large intervals of gold mineralisation, confirming potential for significant MRE growth.

Exceptional broad intercepts from re-cut drill results, including:
✅193m @ 1.01g/t Au from 28m (SR97PN12)
✅142m @ 1.13g/t Au from 310m (PN-08)
✅320.3m @ 0.62g/t Au from 126m (PN-02)
✅317.5m @ 0.60g/t Au from 206m (PN-06)
✅300.6m @ 0.54g/t Au from 166m (PN-10)
✅493m @ 0.53g/t Au from 9m (PN-03)

🚀 🚀 🚀The top 20 drill intersections average 205m @ 0.65g/t Au.

Flagship is now positioned to:
✅Fast-track the conversion of the current 1.05Moz Au foreign estimate (NI 43-101) into a Mineral Resource Estimate in accordance with the JORC Code 2012.
✅Significantly increase the Mineral Resource without immediate drilling, leveraging the newly acquired data and updated economics.

Read the release: https://t.co/OsF5Ylngqh

#FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

Great outcome for @flagshipmineral - Pantanillo is a +1Moz strategic gold play - just reported monster intersections:
✅Highest Grade: 86m @ 1.54g/t Au
✅Longest: 493m @ 0.53g/t Au
✅Top 20: Average 205m @ 0.65g/t Au
See more:https://t.co/mMH1sTGmnD

$FLG #FlagshipMinerals #Gold

[Fynd Exploration @ReportRockNews]

Best Weekly Gold Drill Intercepts (ASX) 1st-5th September

@rtgmining @AstralRes_AAR

[Paul Lock @PaulDavidLock]

@paola_rojas $FLG - Pantanillo >1Moz Au and growing - strategic gold play - Management "eat their own cooking"🍴- just reported monster intersections:
✅Highest Grade: 86m @ 1.54g/t Au
✅Longest: 493m @ 0.53g/t Au
✅Top 20: Average 205m @ 0.65g/t Au
See: https://t.co/mMH1sTGmnD

[Paul Lock @PaulDavidLock]

What a great outcome for @flagshipmineral, ~33,000m of drilling across 148 holes, at least 25 were not previously incorporated into the current 1.05Moz NI 43-101.

Visit Flagship’s Investor Hub: https://t.co/KlpyNZre5d

#Flagship #FlagshipMinerals #Gold #Copper #Chile

[Flagship Minerals (ASX:FLG) @flagshipmineral]

@flagshipmineral secures Anglo American's exploration dataset for the Pantanillo Gold Project, including:

🚀32,827m of drilling across 148 drillholes, including 13,949m of diamond core.
🚀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.

Flagship is now positioned to:
✅Fast-track the conversion of the current 1.05Moz Au foreign estimate (NI 43-101) into a Mineral Resource Estimate in accordance with the JORC Code 2012.
✅Significantly increase the Mineral Resource without immediate drilling, leveraging the newly acquired data and updated economics.

Read the release: https://t.co/1Lvy62hbkv

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

It was great to chat with Mathew Gordon at
@CruxInvestor about @flagshipmineral, its gold and copper projects in Chile, and positioning to advantage in two metals with very strong underlying fundamentals.
We focused on FLG's Pantanillo Gold Project, situated in the +100Moz Maricunga Gold Belt, the advantages of heap leachable projects, the importance of having fully funded neighbours in construction, and the strong upside we see in Pantanillo's gold inventory.
https://t.co/ghCJDnvDMQ

#FlagshipMinerals $FLG #Mining #Gold #Copper #InvestmentOpportunity #Pantanillo #Chile

[Paul Lock @PaulDavidLock]

The Chilean Government aims to reduce processing times for investment project permits by 30% to 70%.

This is a positive development for gold and copper exploration and development projects in a period where the underlying fundamentals for both metals have never been stronger than they are at the moment, which is spurring investor interest.

For Flagship and its Pantanillo Gold Project, and Flagship's mineral exploration and development peers, this is a very positive development.

#FlagshipMinerals $FLG #Mining #Gold #Copper #InvestmentOpportunity #Pantanillo #Chile

[Flagship Minerals (ASX:FLG) @flagshipmineral]

The Chilean Government aims to reduce processing times for investment project permits by 30% to 70%.

@flagshipmineral is encouraged by the development that the Chilean Chamber of Deputies has approved amendments leading to the passing of the “Framework Bill on Sectoral Authorizations”. This structural reform aims to modernise and reduce bureaucracy to accelerate investment.

[Paul Lock @PaulDavidLock]

Thank you to our investors and partners for your ongoing support. Together, we can drive growth and success at Flagship Minerals.

[Paul Lock @PaulDavidLock]

A big thanks to the @miningclub, @JulianMalnic and the SMC team, @FinolaBurke3 and the @RaasGroup team, and @LelSmits and the @TheStockNet team, and all other contributors and attendees for an engaging event.

This was a great opportunity to share our insights on @flagshipmineral #Pantanillo #Gold Project in Chile’s prolific +100Moz Au Maricunga Gold Belt, and the immense potential behind the current 1 million plus ounces of largely heap leachable oxide gold (NI 43-101 / JORC QFE) and the clear pathways for a substantial resource upgrade.

#FlagshipMinerals #FLG #SydneyMiningClub #Mining #Gold #InvestmentOpportunity #Pantanillo #Chile

[Paul Lock @PaulDavidLock]

This is why we are excited about the journey ahead and the opportunities that lie in unlocking this value.  

Flagship presents a fantastic investment proposition, currently valued at <$14/oz in a peer group averaging ~$90/oz.

Analogues Saturn Metals' Apollo Hill and @Rio2Limited's Fenix project 35km north of Pantanillo, with current market caps of ~$190m and ~$700m.

[Paul Lock @PaulDavidLock]

It was a pleasure to talk with @LelSmits about @flagshipmineral's #Pantanillo #Gold and Rosario #Copper projects. Pantanillo, with >1Moz Au (80% Measured, NI 43-101 / JORC QFE), is situated in the ~100Moz Au Maricunga Gold Belt, is supported by NI 43-101 studies, met test work and 20,531m of drilling (~50% DDH), and positions $FLG well for a near term low cost outcome.

[TSN: The Stock Network @TheStockNet]

The Stock Network is pleased to support the Sydney Mining Club and interview Flagship Minerals (ASX:FLG) Chairman & Managing Director Paul Lock, who will be presenting at the Sydney Mining Club Event.

Hear about Flagship Minerals on becoming a low-cost producer of gold and copper through large-scale oxide projects in Chile, a country rich in mining history and infrastructure with projects located in areas close to major mines and surrounded by industry giants like Barrick, Newmont, and Kinross. The company is developing its Pantanillo Gold and Rosario Copper projects to tap into strong global demand.

Joining The Stock Network’s @LelSmits ahead of appearing at @miningclub is @flagshipmineral (ASX:FLG) Chairman & Managing Director @PaulDavidLock.

🗓 Thursday 3 July 2025
🕛 PM
📍 Establishment Ballroom, 252 George Street, Sydney

Watch the full interview ⚡ https://t.co/X996TCMkyH
Register to attend SMC here: https://t.co/en9MK3wFSt $FLG

[Paul Lock @PaulDavidLock]

I am looking forward to presenting @Flagship to the Sydney Mining Club on Thursday 3rd July, where I'll be focusing on #FLG's #Pantanillo Gold Project with >1Moz Au @ 0.69g/t (NI 43-101 / JORC QFE). With @Rio2 (TSX: RIO, MCap ~A$700m) Fenix gold project 35km to the north (P&P 1.8Moz Au @ 0.48g/t, AISC $1,237/A$1,880, >90koz Au pa) recently permitted and under construction, and Hochschild Mining PLC's Volcan gold project (PEA) just 12km to the northwest (M&I 9.6Moz @ 0.66g/t, AISC $1,002/A$1,525, >330koz Au pa), and with both sitting in similar geology, the same geography and the same permit zoning, Pantanillo is de-risked and Flagship is in a very good position.

Hope to see you at Sydney Mining Club: https://t.co/Jty0Mtadid

#Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #Mining #Exploration #Chile

[Flagship Minerals (ASX:FLG) @flagshipmineral]

@flagshipmineral Managing Director @PaulDavidLock will be presenting at Sydney @miningclub this Thursday 3 July, 2025, showcasing the #Pantanillo Golf Project, with >1Moz Au (NI 43-101 / JORC QFE) which is heap leachable, supported by NI 43-101 studies, met test work and 20,531m of drilling (~50% DDH), #Flagship is well positioned for a near term low cost outcome.

Pantanillo is 'In the Land of the Giants", with the ~27Moz Au @NewmontCorp - @barrick_mining "Norte Abierto" project ~35km to the south, the @kinrossgold ~11Moz Au 'Maricunga' project ~20km to the East and the Hochschild Mining ~11Moz Au Volcan project ~12km to the northwest.

Further details on the event here: https://t.co/fWdr3KJH9E
Further details on Flagship and Pantanillo here: https://t.co/EnE60vBgSk

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

At @flagshipmineral we have been studying the ASX gold/precious sector, with a bit of a deep dive into David Evans’ “https://t.co/S98imrCCcW” data set to work out what’s really happening – it’s worth subscribing if you are a serious gold investor. 

There are over 265 ASX gold companies in the dataset: ~34 producers,
~67 developers, and
~166 explorers. 

Across this cohort about 86 have >1Moz precious (Au/Ag) BUT here’s the rub:
about 1/3 of the developers have ~50% avg. of their inventory in Inferred,
about 2/3 of the explorers have ~50% avg. of their inventory in Inferred. 

That’s a lot of Inferred. For a project to be developed a lot of that Inferred has to move to Indicated, and for better funding options a portion of that needs to move to Measured. That means a lot of drilling. 

A basic rule of thumb (with all the caveats) is 2x from Inferred to Indicated and 2x again to Measured, it’s all about drill hole density, the higher the density the higher the confidence in the MRE – for example, recently an ASX producer reported an increase in its quarterly ASIC by ~50%, stating "ore uncharacteristically underperformed when compared to reserve grade". From the outside it’s difficult to know exactly why, but perhaps more measured/proven would have provided higher confidence levels in the MRE and therefore increased certainty. 

This is why financiers prefer more Measured, greater certainty.

At Pantanillo ~80% of our >1Moz gold is Measured, supported by >20,500m drilling, of which half is DD – that equates to higher certainty in the gold inventory, higher confidence levels means more and better funding options, and that's what we are ultimately aiming for.

[Flagship Minerals (ASX:FLG) @flagshipmineral]

@flagshipmineral has released an updated Corporate Presentation, the peer comparisons with FLG's Pantanillo (>1Moz Au) and market statistics are worth a look.
In this presentation we have added and updated:
💡Slide 4 – Provides a good visual on Pantanillo’s geography, 60Moz Au within a 35km radius and some of the industry’s best names represented, including
@barrick_mining, @NewmontCorp, @kinrossgold and @GoldFields_LTD.
���Slide 5 - $FLG's gold peer group with an average EV/oz valuation of A$98/oz, including a split-out of MREs. 📷@saturn_metals, and where available AISC costs, which quite low.
💡Slide 7 - @saturn_metals's Apollo Hill and @Rio2Limited's Fenix projects present strong analogues for FLG's Pantanillo.
💡Slide 8 - Key milestones and objectives and a preliminary pathway to feasibility, given the amount of historical work on Pantanillo, FLG is positioned very well.
✅Presentation Link: https://t.co/9olOZR3rQA…
#Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

Momentum is starting to kick in. There are not many gold projects like @flagshipmineral category killer Pantanillo Gold Project, three key takeaways:
💪 Pantanillo is in a Tier 1 mining jurisdiction, with >60m oz Au within a 35km radius and projects owned by some of the biggest names in the business, @NewmontCorp, @barrick_mining and @kinrossgold.
💪💪 @Rio2Limited's Fenix project with a 0.48g/t head grade and $1,237 ASIC, which is in similar geology, geography and the same permitting zones, was recently permitted, is in construction, and is fully funded with a royalty stream provided by Wheaton Precious Metals.
💪💪💪 We can expect some nice intersections and new ozs this year, following on from results like 162m @ 1.23g/t Au from 60m or just under the current pit shell (PN-08) or 440m @ 0.49g/t Au from 260m and under the current pit shell (ARDDPN02).

Hmmm, that's nice.

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Flagship Minerals (ASX:FLG) @flagshipmineral]

We have released Flagship Minerals (ASX:FLG) updated Corporate Presentation, with a focus on the #Pantanillo Gold Project and the value proposition it presents for Flagship's shareholders.

With #gold maintaining a >$3,000 price level, Flagship has timed its entry into gold well, and with #FLG's heap leachable 47.4Mt @ 0.69g/t Au for 1.05 Million oz Au qualifying foreign estimate (QFE) of mineralisation, which is supported by an NI 43-101, is 77% Measured and 22% Indicated, and supported by 20,531m of drilling for which ~50% is DDH, the Company is well positioned for a low cost outcome.

Pantanillo is 'In the Land of the Giants", with the ~27Moz Au @NewmontCorp - @barrick_mining "Norte Abierto" project ~35km to the south, the @kinrossgold ~11Moz Au 'Maricunga' project ~20km to the East and the Hochschild Mining PLC ~11Moz Au Volcan project ~12km to the northwest.

In this updated presentation we focus on:
✅ Slide 4 - $FLG's gold peer group with an average EV/oz valuation of A$90/oz.
✅ Slide 5 - Metrics on heap leach gold projects and where available their AISC costs, which can be very low.
✅ Slide 6 - Saturn Metals Limited's Apollo Hill and @Rio2Limited's Fenix present strong analogues for FLG's Pantanillo.
✅ Slide 7 - Provides a preliminary pathway to feasibility, given the amount of historical work on Pantanillo, FLG is positioned very well.
✅ Slides 12 to 14 provide an outline of Flagship's plan to grow Pantanillo's gold inventory.

Presentation Link: https://t.co/PMbULBMDXF

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

We are pleased with the results we're achieving at #Pantanillo, and the more we look the more excited we get, particularly with the recent permitting of Rio2 Limited’s nearby Fenix gold project, which is now under construction and which sits in similar geology, geography and zoning. This de-risks the project and is expected to facilitate a smooth transition to a Mineral Resource in accordance with JORC, which is of particular importance as we move to the soon to be released updated JORC Code. Pantanillo presents a compelling opportunity, the project is de-risked on a number of levels, including geology, geography, jurisdiction, metallurgy, and permitting precedents.

[Flagship Minerals (ASX:FLG) @flagshipmineral]

We’ve completed a first round data review for @flagshipmineral's #Pantanillo #Gold Project, confirming the scale and potential of the Project’s #gold mineralisation and the potential for down dip, up dip and strike extensions. Our work shows the standout potential at Pantanillo, all 4 sections are compelling but Section 10265E (Figure 6 in the release) is standout with a 440m intersection from 260m grading 0.49g/t Au, including 160m at 0.70g/t Au. This hole finishes in mineralisation about 450m below the pit shell, which is about 150m in depth.
See our ASX Release here: https://t.co/Edm6dEJm5Q
$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Paul Lock @PaulDavidLock]

Flagship Minerals (ASX:FLG)'s #Pantanillo #Gold Project positions the Company and its Shareholders very well. The project presents 4 levels of opportunity for gold inventory growth:
✅ Reducing the 2010 cut-off grade and increasing the gold price in line with the current market;
✅ Bringing in gold mineralisation currently sitting outside the pit shell;
✅ Down dip and strike extension opportunities;
✅ Exploring Pantanillo's 7 satellite Au prospects with similar geology within the ~110km2 Pantanillo holding.

How much are you paying for your Au ounces? Pantanillo is de-risked and is literally sitting "In the Land of the Giants", with ~60Moz Au Mineral Resources within a 35km radius of the project.

$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile

[Flagship Minerals (ASX:FLG) @flagshipmineral]

Our Metallurgical Review for @flagshipmineral's #Pantanillo #Gold Project provided compelling results - with gold recoveries for oxides up to 85.5%, and oxide composites of 80% after 25 days ✅✅✅, in the context of the peer group these are very good results.
If we want to talk near-ology, Pantanillo is literally 'In the land of the giants", with the ~27Moz Au @NewmontCorp- @barrick_mining "Norte Abierto" project ~35km to the south, the @kinrossgold ~11Moz Au 'Maricunga' project ~20km to the East and the Hochschild Mining's ~11Moz Au Volcan project ~12km to the northwest.
See our ASX Release here: https://t.co/1oCvJLw7mL
$FLG #Flagship #FlagshipMinerals #Gold #Copper #MetalsThatMatter #ExploreABetterFuture #Mining #Exploration #Chile