Flagship Minerals (ASX:FLG) found extensive zones of alteration consistent with large-scale high-sulfidation epithermal and porphyry-related gold systems across the Pantanillo project in Chile through an advanced spaceborne thermal emission and reflection radiometer remote-sensing review, according to a Friday filing with the Australian bourse.

Results will be integrated with existing datasets, with the company planning to undertake further field work to validate the anomalies, per the filing.

Shares fell nearly 7% in midday trade Friday.