Aussie explorer Far East Gold has completed a 21-line kilometre MIMDAS survey of the Mount Clark West copper/gold project – a 1,912-hectare tenement sharing a geological boundary with the highly prospective Connors Arc in Queensland.

The three-week survey has helped the company identify three areas of interest, each with a potential presence of porphyry-type mineralisation and an overall exploration target potential for a minimum resource target of 400 megatonnes (Mt) at a 0.4% copper equivalent.

The ASX-listed explorer (ASX: FEG) – which operates six advanced projects in Australia and Indonesia, and has a 90% interest in the Mount Clark West project – likens the geological nature of the finding to that of the deposits found in NSW’s Cadia-North Parkes region in NSW.

Far East Gold’s exploration results also show high chargeability and high resistivity – consistent with the results and interpretation from previous exploration done by Medusa Mining (2018-19) and Navaho Gold (2010-13).

Medusa’s exploration included a four-hole, 1,283-metre diamond drill program in which one of the holes intersected 104 metres of 0.1% copper from 14 metres and 0.23% copper from 180 metres.

The company believes the results from its exploration suggest a mineralised porphyry system as well as the occurrence of more than one porphyry body, and will design a drill program to target specific geophysical anomalies.

Far East Gold expects the drill program to confirm the presence of porphyry-type mineralisation and identify the exploration potential for the aforementioned minimum resource target of 400 Mt at a 0.4% copper equivalent.

Milestones reached across the FEG portfolio

Far East Gold’s 90% interest in its Hill 212, Blue Grass Creek, Mount Clark West tenements was reaffirmed when the company completed its Phase 1 earn-in expenditure obligations and the board has decided to proceed to the next stages of the Eearn-in Aagreements.

The company completed its initial 11-hole drill program at Hill 212. The results have provided Far East Gold with a better understanding of the nature of the mineralisation of the project’s vein system and will be used to identify further areas for additional exploration.

In addition to its Aussie projects, Far East Gold has begun drilling at its 24,260-hectare Woyla copper/gold project in Indonesia, a project the company believes is one of the most highly prospective copper/gold projects in South-East Asia.

To stay up to date with news and announcements from Far East Gold, register your details on the company’s investor portal.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Far East Gold Ltd and will receive fees for its services.

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Sources

• • ASX announcement, AUSTRALIAN PROJECTS UPDATE
  • ASX announcement, REPORT ON ACTIVITIES FOR THE QUARTER ENDED 30 SEPTEMBER 2022