Far East Gold has concluded a Conduct and Compensation Agreement (CCA) with the Hill 212 landowners which allows the company to commence advanced exploration work at the site, including drilling.

Hill 212 is an advanced and highly prospective gold epithermal project situated in the Drummond Basin in Central Queensland, Australia. The site is over 1,900 hectares EPM (exploration permit for minerals) and has previously been explored by BHP, Dominion Mining and Battle Mountain.

Under the terms of the CCA, Far East Gold will be able to continue with its exploration work for the remainder of Hill 212’s exploration permit term, which ends on 21st November 2026.

Earthworks at the site have already commenced, while upgrades are being made to site infrastructure and access tracks across the tenement in anticipation of drill work launching.

Far East Gold geology technical adviser Dr Chris Bowden is on site with a team of field workers and an exploration camp has been established and priority drill targets have been identified for the Phase 1 drilling program.

Work is advancing at Far East Gold’s ‘highly prospective’ Hill 212 tenement. Source: Far East Gold

Exploration work potentially quadruples strike for Far East Gold

The company also identified an additional 7.5km of possible strike length within the low sulphidation vein network at Hill 212.

The potential new strike length was identified in newly released results from an earlier  Controlled-source Audio-frequency Magnetotellurics (CSAMT) survey undertaken by the company in 2021.

If confirmed by subsequent drill work, this find would increase Hill 212’s total strike length from the 2.5km already confirmed to 10km, marking a “fourfold increase”, the company said.

In a note to investors, the company said these survey results also suggest “the potential for depth continuity of the known mapped subvertical veins”.

“The results further indicate the highly prospective nature of the Hill 212 project.”

“The survey also identified a sub horizontal body at depth (circa 200-300m depth) that appears similar to other bulk tonnage epithermal systems in the Drummond Basin.”

Join an investor briefing with Chairman Paul Walker on Tuesday 28th 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

• ASX Announcement, Hill 212 Project Update