At its core, Woyla is solidifying its status as a veritable goldmine

ASX-listed Far East Gold has been drilling down into the details of its highly prospective copper-gold Woyla project, with new data from the Phase 1 drilling program reaffirming the previously interpreted nature of the site’s Anak Perak Main Zone.

ASX-listed Far East Gold has been drilling down into the details of its highly prospective copper-gold Woyla project, with new data from the Phase 1 drilling program reaffirming the previously interpreted nature of the site’s Anak Perak Main Zone.

The first six holes of the planned 18-hole Phase 1 diamond drilling campaign at the Indonesian project are now complete, the junior explorer (ASX: FEG) announced in recent days, with all six holes intersecting the Main Zone quartz vein breccia system.

There was also a consistent vein width along the 200m of strike length.

Phase 1 is a 2560m program that will test the AP Main Zone vein system along 900m of strike length, with drill sites at 100m-150m spacing and will test the vein at 50m and 100m vertical depth. Its objective is to demonstrate resource potential within the AP Main Zone area.

Preliminary observations show sulphide mineralisation has been detected in all of the cores, manifesting predominantly as chalcopyrite, sphalerite and galena with minor covellite and possible acanthite.

Image of drill core from APD003

Source: Far East Gold

Source: Far East Gold

Woyla has already delivered rock chip and deep vein samples up to 119g/t gold – a concentration similar to the Gosowong project, which ​​produced six million ounces of gold over two decades.

Drilling commenced at Rek Rinti

Meanwhile, on the back of successful results from an induced polarisation (IP) geophysics survey, which confirmed viable drill targets for an initial five-hole 1120m drilling program, Far East Gold has now commenced drilling at the Woyla project’s Rek Rinti prospect area.

The initial drilling program will test two of the widest veins to approximately 100m depth, with the objective to confirm depth extension of the veins and establish a grade profile across the vein.

The Rek Rinti prospect – which previous owner Newcrest Mining once ranked as its priority target within the Woyla project – is located about 5km east of the Anak Perak prospect, with the IP survey suggesting its vein system extends southwest towards the Aloe Eumpeuk prospect.

Once the final two of six IP survey lines have been completed, Far East Gold will define further targets for future drill testing and will be able to better understand the potential for the vein systems in Rek Rinti and Aloe Eumpeuk to merge into a single larger system.

Covering 24,260 hectares and hosting a strike length of over 13km, Woyla has previously been owned by mining heavyweights Barrick Gold and Newcrest. For years, the pair gathered data to identify drill targets but were never able to acquire the exploration permits required to proceed.

To stay up to date with the latest Far East Gold news and announcements, update your details on the Far East Gold investor centre. 

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

Past performance is not a reliable indicator of future performance.

Sources

 

This Week’s News

News

8 May 2024

BHP Xplor winner coming to the ASX

News

16 April 2024

Gold at record highs – so why aren’t gold stocks?

News

22 November 2023

Rare Earths Industry Review: Part 2

General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG)

including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.