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Far East Gold granted environmental approval for drilling at Woyla project

June 1, 2022

Far East Gold granted environmental approval for drilling at Woyla project

Far East Gold has announced that the Woyla copper gold project was granted the necessary environmental approval for advanced exploration activities.

Far East Gold has announced that the Woyla copper gold project was granted the necessary environmental approval for advanced exploration activities. This is the first time in the history of the Woyla Project that the Indonesian Government has granted an environmental authority for drilling to occur on the site.

On Wednesday, the company announced an Upaya Pengelolaan Lingkungan – Upaya Pemantauan Lingkungan (UKL-UPL) environmental approval dated 20 May 2022 was granted, paving the way for more comprehensive advanced exploration work at the site.

It’s the first time Indonesian authorities have granted an environmental permit for drilling in the area, which was previously the subject of exploration by Barrick Gold and Newcrest.

The approval extends to all four of the priority epithermal vein prospect areas Far East Gold has identified within the Woyla region, and will also enable the company to conduct geological mapping, rock and soil sampling, airborne magnetic surveys and more at the site.

Source: FEG ASX Announcement, Woyla Project Update

Figure 1: Map showing the UKL-UPL area within the Woyla tenement.

Far East Gold will lodge its applications on 2 June 2022 for Izin Persetujuan Penggunaan Kawasan Hutan (IPPKH), also called a ‘borrow-use licence’, for the Woyla tenement.

This licence can only be applied for once a UKL-UPL has been granted, and when approved will allow the company to drill on forest-designated land within the project site. The company can continue with its advanced exploration projects in non-forest areas of Woyla in the intervening time.

The company’s successful acquisition of a UKL-UPL comes two weeks after the appointment of new non-executive director Michael Thirnbeck.

Mr Thirnbeck is a veteran geologist who has managed numerous exploration and development projects in Australia, Papua New Guinea and Indonesia over the course of his 30-year career, including two decades working directly on the Woyla Project.

Far East Gold CEO Paul Walker said he was very pleased with the appointment.

“We are delighted to welcome Michael to the board as he brings a wealth of experience in both the Indonesian and Australian resource sectors,” he said.

Join an investor briefing with Chairman Paul Walker on Monday 6th June at 12pm AEST. Click here to register.

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

Sources


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