Resource Expansion Drilling Begins
Sydney, June 5, 2025 AEST (ABN Newswire) - Far East Gold Limited (
ASX:FEG) is pleased to announce that two diamond rigs are now operating at the Bermol prospect within the Company's Idenburg Gold Project in Papua, Indonesia. The planned 36-hole, 3,670m drill program will focus on infill and resource expansion drilling within the Sua, Mafu and Bermol, prospects, and initial drilling at the Kwaplu prospect. The program will also provide core composite samples for advanced metallurgical testing of each prospect area.
The campaign aims to build on FEG's JORC-compliant inferred resource of 540,000oz gold @4.1 g/t au and validate the project's Exploration Target of up to 7.2Moz at 6.1g/t Au. Refer to the Company's ASX announcements of 14 November and 21 August 2024 for details of the resource estimate and historical exploration.
"This marks a major step in unlocking Idenburg's true potential. With strong grades already confirmed, we're confident this drill program can drive significant resource growth and deliver real value for our shareholders." - Shane Menere, FEG's Chief Executive Officer.
HIGHLIGHTS:
- Drilling underway at Idenburg, with two rigs active at the Bermol prospect area. The program objective is to confirm the potential to expand the current inferred JORC resources (ASX announcement Nov. 14, 2024) by drilling within 4 priority prospect areas.
- Sua Prospect (5 holes, 1,120m): Focused on extending fault-hosted mineralisation intersected by historical drilling that included:
- 5m @ 21.8 g/t Au, including 3m @ 35.0 g/t Au from 107m (KSD008)*
- 6m @ 8.22g/t Au, including 2m @ 52.3 g/t Au from 10m (KSD013)*
- 3m @ 9.56 g/t Au, including 1m @ 23.0 g/t Au from 75m (KSD021)*
- Mafi Prospect (7 holes, 500m): Focused on infill and possible feeder structures near historical intercepts that include:
- 12.6m @ 8.01 g/t Au, including 1.25m @ 25.7 g/t Au from 6m (014MD00)*
- 8.1m @ 7.50 g/t Au, including 1.4m @ 16.3 g/t Au from 14.4m (017MD00)*
- 6m @ 2.99 g/t Au, including 2m @ 7.50 g/t Au from 4m (017MD00)*
- Bermol Prospect (12 holes, 1,050m): Testing along strike and at depth, targeting extensions of an interpreted quartz-sulphide bearing fault zone.
Historical drill intercepts included:
- 5m @ 5.40 g/t Au from 17m (BRD001)*
- 5m @ 4.15 g/t Au from 46m (BRD003) *
- Kwaplu Prospect (12 holes, 1,000m): First-ever drill testing of a large area of anomalous gold-in-soil with peak concentrations of >1,200 ppb Au. Assays of quartz boulder samples collected from the area previously included: 182 g/t Au; 126 g/t Au; 269 g/t Au; 49.8 g/t Au*
- CEO video now available discussing the significance of the drill campaign:
https://fareast.gold/link/mepkBy
*Refer to Company's ASX announcements dated 15 July, 14 November, and 21 August 2024 for detailed historical data.
Geology and Geological Interpretation
Field observations show that the basic style of gold mineralisation as determined from mapping and drill core logging is of the orogenic gold type, also referred to as mesothermal lode gold. The presence of coarse gold with a high nugget value is inherent to deposits of this type and will need to be evaluated when sampling or assaying.
The current Idenburg Exploration COW is situated within the Idenburg Inlier which is a diverse geotectonic terrain situated at collisional plate boundaries along the northern edge of the structurally complex Mamberamo Fold and Thrust Belt. To better define the structural relationships and possible controls to mineralisation the Company has commissioned Murphy Geological Services to complete a detailed structural evaluation of the Idenburg COW. Completion is expected early Q2 2025.
A review and assessment of historical exploration at Idenburg is discussed in the Independent Exploration Target Report for the Idenburg Property prepared by SMGC and released by the Company in ASX announcements of 15 and 21 August 2024.
Bermol Prospect Drill Plan
Previous exploration defined an extensive fault zone containing gold-mineralised quartz-sulphide veins and lenses mapped over 600 metres of strike length and a width of 300 metres. The fault zone is highly deformed and appears to dip at less than 25 degrees to the west and could be comprised of multiple zones. Historical drilling (7 holes, 771m) focused on the core part of the Bermol Prospect, over a strike length of about 400 metres (Figure 3*) The program did not test the potential southern extension of the system or the known northern extension to North Bermol. The best results included: BRD001 (5m @ 5.40 g/t Au from 16m depth) and BRD003 (5m @ 4.15 g/t Au from 46m). The thrust fault plane ranges from 1m to 7m in apparent true width.
The drill results were interpreted by IMI to reflect 5 discrete veins which SMGC accepted as representative of the known gold bearing quartz lenses at the Bermol Prospect. Refer to Company ASX announcement of 14 November 2024. The Company also recently reported assays from grab samples of quartz veins and boudinaged quartz lenses from the Bermol and North Bermol of; 19.31 g/t Au , 53 g/t Au, 16.75 g/t Au, 10.18 g/t Au and 8.43 g/t Au. Refer to ASX release of April 8, 2025.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ZU3EQPL8
About Far East Gold Ltd
Far East Gold Ltd (ASX:FEG) is an Australian junior exploration company led by some of the biggest names in Australian mining. The company has secured the commercial rights for the acquisition, exploration and development of six advanced gold and copper projects in Indonesia and Australia, including one with a JORC estimate of 996,000 ounces of gold and 190 million pounds of copper.
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