It’s been another strong quarter for Far East Gold Ltd (ASX: FEG), with a raft of assays flooding in from their flagship Woyla Project in Indonesia that continued to show extensive high-grade gold and silver mineralisation throughout the system.

Image: Far East Gold.

Across the Anak Perak, Rek Rinti and Aloe Eumpeuk prospects, 51 holes were drilled for a total of 8,028m (as at 30 June 2023). 44 assays have been returned, 21 of which have intercepted gold assays greater than 3.94g/t gold. 10 holes had results greater than 7.85 g/t gold (Au) and 4 holes had assays greater than 17.5g/t Au. 

This phase two diamond drilling program is designed to test 2,500m out of the total 13,000m of strike that exists on the tenements’ three main prospects. Notable assays include Rek Rinti’s 5m @ 81g/t Au and 734g/t Ag from 201.2m, Aloe Eumpeuk’s 0.4m @ 28.06g/t Au and 957g/t Ag from 108.95m, and Anak Perak’s 1m @ 12.09g/t Au and 8.3g/t Ag from 42.2m. 

The goal was to confirm the physiochemical process necessary to develop bonanza-grade type mineralisation did at occur at Woyla – and it has certainly now been repeatedly indicated, with drillholes showing that these zones can occur over significant width 

In the meantime, resource definition drilling has also been progressing at Rek Rinti, where FEG have been drilling since January. Their standout assay from last year, 30m at 2.83 g/t Au and 49.73 g/t Ag (3.43 g/t AuEq) from 98m including 05.m at 78g/t Au and 631 g/t Ag (85.57 g/t AuEq) from 108.6m, gave them the ammunition they need to press ahead this year. 

Some notable assays from this drilling campaign were 5.3m at 8.43 g/t Au and 99.89 g/t Ag (9.97 g/t AuEq) from 201.2m – 206.5m including 0.5m at 81 g/t Au and 734 g/t Ag (89.81 g/t AuEq) from 201.2m, and 9m at 1.94 g/t Au and 43.39 g/t Ag (2.46 g/t AuEq) from 144m – 153m including 1m at 3.97 g/t Au and 83 g/t Ag (4.97 g/t AuEq) from 144.5m.

As at the end of June, 20 holes had been drilled for a total of 4,171m as a part of this campaign. The company is continuing to work towards delineating its maiden JORC resource and will provide an update to the market in due course.

100% ownership of Trenggalek

Far East Gold also managed to finalise the Trenggalek acquisition during the quarter. FEG now has a 100% economic interest in the advanced 12,813 hectare project, that has already had 17,786m of drilling completed across 81 holes. It was previously explored by Anglo American. 

The Trenggalek project has been designated a Top 3 Priority greenfield gold project by the Indonesian government, and has previously received assays of up to 9m @ 4.91g/t Au and 19g/t Ag.

Outside of Woyla and Trenggalek, Far East Gold holds four other prospects across Indonesia and Australia representing a diversified and prospective pipeline.

Join an investor briefing with Far East Gold Chairman Paul Walker on Friday at 11am (AEST) to hear more. Click here to book in or request a replay.

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

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