The gold hits just keep coming for Far East Gold Ltd (ASX:FEG) at the Woyla Project in Indonesia, with visible gold and other sulphides intersected in drill hole AGM017, which was following up an exceptional intersection of 0.5 metres at 81 g/t gold and 734 g/t silver from 201.2 metres.
The company believes it has successfully intersected the western extension of that high-grade mineralisation, confirming the lateral extension of high-grade gold-silver mineralisation.
Far East has interpreted these results to indicate the controlling structure of this mineralisation stretches over a lateral distance of 125 metres.
From here, FEG will continue to text extensions of the high-grade mineralised zone at Woyla, which remains open and unexplored to the east and west, and at depth.
Notably, this intercept of visible gold is the sixth intercept in drill core since Far East started the first ever drilling in the Woyla project’s 25 year history late last year. The company’s 5,000 metre Phase 1 diamond drilling scout program returned one intercept of visible gold.
To date Far East has completed approximately 6,000 metres of the 10,000 metre planned Phase 2 diamond drilling program and this is the fifth intercept of visible gold in the Phase 2 program.
Woyla Copper-Gold Project
The Woyla Project covers about 24,000 hectares in the Aceh region of North Sumatra, Indonesia.
Far East believes this project is one of the most highly prospective undrilled copper-gold projects in South-East Asia with the potential to host high-grade epithermal and porphyry deposits.
This latest drilling result marks the sixth visible gold intercept found in drill core at Woyla since FEG began the first-ever drilling at the project last year.
The company holds a 51% interest in the project that will increase to 80% upon the Far East’s completion of a feasibility study and definition of a maiden JORC resource estimate.