Far East Gold strikes visible gold in two prospect areas

Aussie junior explorer Far East Gold (ASX: FEG) has identified visible gold and electrum within a drill core from the Rek Renti prospect area within its Woyla tenement – a project touted by the company to be one of the most highly prospective undrilled copper gold projects in South East Asia.

Aussie junior explorer Far East Gold (ASX: FEG) has identified visible gold and electrum within a drill core from the Rek Renti prospect area within its Woyla tenement – a project touted by the company to be one of the most highly prospective undrilled copper gold projects in South East Asia.

A second instance of coarse visible gold was found within surface rock samples at the Aloe Eumpeuk prospect located to the south of Rek Renti. Both discoveries come a month after the company announced its Phase 2 drill program into Woyla.

Finely disseminated electrum and visible gold along with other sulphides were identified within a quartz vein intersected in drill hole AGM007 – confirming lateral extension of high-grade mineralisation. The hole was drilled as part of FEG’s Phase 2 resource delineation program focused on the Agam Zone within the Rek Renti prospect.

The mineralisation occurs within narrow ginguro bands in massive quartz and is consistent with the bonanza grade gold and silver mineralisation observed within ginguro bands intersected in the company’s Phase 1 scout drill hole situated 50 metres northeast of AGM007.

Visible Gold (VG), Electrum (El)                                                        Source: FEG

Based on the colour of coarse clots of dark grey sulphide mineralisation, both visible gold and gold-silver alloy electrum are believed to be present, with a pXRF analysis indicating the presence of significant gold, silver, lead and zinc occurring within the sulphide assemblage.

Far East Gold is speeding up preparations for a maiden scout drill program at the Aloe Eumpeuk prospect located 1.5 kilometres south west of Rek Renti and expects to commence the first ever drilling of the former to commence before the end of March 2023.

Previously explored (but undrilled) by Barrick Gold in 1997, Aloe Eumpeuk yielded two high-grade veins extending approximately 300 metres along strike with channel samples from the exposed veins assaying up to 28 g/t of gold.

More recently, FEG confirmed the occurrence of high-grade gold and silver within massive quartz at the surface and assays of up to 63 grams/tonne (g/t) of gold and 1,179 g/t of silver were obtained from ginguro band samples.

Now with coarse visible gold identified within samples of quartz taken from artisanal mining pits, an initial 6-hole scout drill plan (as part of the Phase 2 scout drilling program) will test these veins that have delivered high-grade gold and silver samples at the surface.

FEG believes its Woyla project has the potential to host high-grade epithermal and porphyry deposits and currently holds a 51% interest in the project – which will increase to 80% upon the completion of feasibility study and the definition of a maiden JORC 2012 resource estimate.

The company owns six advanced projects in Australia and Indonesia including one, Wonogiri, which has a JORC 2012 estimate of 1.15 million ounces of gold equivalent comprising 996,000 ounces of gold (53% measured and indicated) and 190 million pounds of copper (43% measured and indicated).

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 may receive fees for its services.

Past performance is not a reliable indicator of future performance.

 

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