Far East Gold Ltd (ASX:FEG) has made substantial progress across its portfolio of Indonesian and Australian projects in the June 2025 quarter, advancing exploration at the Idenburg Gold Project in Papua Province, Indonesia, and preparing for future drilling campaigns.
The company’s recent activities at Idenburg set the stage for further growth, with drilling at the Bermol prospect supporting resource continuity at the project, particularly as exploration continues along the 4-kilometre structural corridor linking Bermol to North Bermol.
“This quarter was particularly rewarding for the company as we advanced multiple fronts across our portfolio,” Far East Gold CEO Shane Menere said. “The commencement of drilling at Bermol — our first at Idenburg — marks a major milestone, with every hole to date intersecting a broad shear zone with visible sulphide mineralisation, reinforcing historical results and confirming continuity.”
Exploration highlights: Drilling at Bermol and new discovery potential
The 95,000-hectare Idenburg Gold Project is located in a highly prospective region hosting major gold and copper deposits such as Grasberg and Frieda River. Drilling commenced on June 5 at the Bermol prospect, marking the company’s first drilling in the Idenburg Contract of Work (CoW).
Map showing prospect and resource areas within the Idenburg COW tenement. Locations of historical drilling are indicated. The planned holes will attempt to expand current defined gold resources within the Sua and Bermol prospect areas and complete initial drilling at the Kwaplu prospect area southwest of Sua.
By the end of the quarter, six holes were completed, totalling 722.9 meters. All holes intersected broad shear zones containing quartz veins and sulphide minerals (pyrite and arsenopyrite), consistent with historical exploration results and confirming the lateral continuity of the shear zone.
Hole BRD009 (at 112.4m): Photo shows example of intense ductile deformation manifest as mylonite, with shear foliation at 80° to CA. Contains boudinaged and locally tightly folded quartz veins (<1-1cm); pyrite and arsenopyrite are commonly present along the shear foliation planes.
Further strengthening the potential of the Bermol area, geological mapping led to the discovery of a quartz vein zone at East Bermol, 1.2 kilometres east of Bermol. Assays from grab samples returned impressive grades of up to 8.43 g/t gold and 31.9 g/t silver from a 5-metre-wide quartz zone.
3D plan map (N at top of image) of the Bermol prospect showing locations of completed (yellow), planned (white) and historical (black) drill holes. The interpreted trace of the Bermol shear zone and quartz vein system is shown in orange. Refer to Table 1 for collar details of holes completed during the June Quarter.
The discovery, which spans a strike length of 15 meters, aligns with the company’s broader goals of identifying significant resource expansion opportunities along a 4-kilometre northeast-trending structural corridor connecting the Bermol and North Bermol prospects
Sharpening targeting for future drilling
In addition to drilling, Far East Gold has employed advanced techniques to enhance its exploration targeting. The company recently received a comprehensive structural interpretation report from Murphy Geological Services, which identified key structural features in the Idenburg CoW. These findings are expected to guide targeted drilling in future campaigns, increasing the likelihood of new discoveries within the tenement.
A detailed UAV magnetic and LiDAR survey is also underway to cover the structural corridor between Bermol and North Bermol. This high-resolution geophysical survey is expected to delineate extensions of shear-hosted mineralisation and identify priority drill targets in the underexplored zone.
Map showing the Bermol prospect area and the location of reported surface rock samples with gold assay results from quartz veins at East Bermol. Refer to ASX Announcement of April 8, 2025. The current drill program will test the East Bermol discovery and also vein and structural targets defined within the interpreted structural corridor extending to the North Bermol prospect.
Copper-gold opportunity at Trenggalek: Drilling preparation in full swing
Far East Gold’s exploration efforts also extend to the Trenggalek Copper-Gold Project in Central Java, where drill targets have been defined for a 5,740-metre, 18-hole drill program. The program will test three copper porphyry targets and one high-grade epithermal gold prospect. Drilling site access and pad locations are currently being finalised, following an ongoing technical review.
Although no field activities were completed at Trenggalek during the June quarter, the company is in advanced preparation for the planned Phase 1 drilling, which is expected to commence in the third quarter of 2025.
Far East Gold continues to engage with local communities in preparation for drilling and other exploration activities.
Woyla and Wonogiri projects: Ongoing developments
Far East Gold’s Woyla Copper-Gold Project, located in the Aceh region of North Sumatra, continues to evolve, with quartz vein targets being assessed along a 26,000-metre strike. The company holds a 51% interest in the project, with plans to increase it to 80% upon completing a feasibility study.
While no exploration activities were conducted at Woyla in the June 2025 quarter, the company is planning a 500-metre scout drilling program at the Kareung Reuboeh prospect area before year-end.
The Wonogiri Copper-Gold Project, located in Central Java, also remains a focus. Far East Gold has been working with the Indonesian Mining Department to extend the exploration license by an additional 12 months, while simultaneously developing a scoping study to assess the project’s economic viability. No exploration activities took place during the quarter.
Australian Projects: Preparations for Q4 Drilling at Mount Clark West
Far East Gold’s Australian projects saw continued preparation for future exploration campaigns as the company moved forward with ground proofing and mapping for the Blue Hill Creek and Mount Clark West projects in Queensland.
Drilling at Mount Clark West is set for Q4 2025, with compensation agreements finalised and drill targets prepared. No field activities were undertaken during the quarter, but preparations are in place for the next phase of work.
Quarterly expenditure and cash position
During the June 2025 quarter, Far East Gold incurred total expenditure of $1.105 million, covering activities such as exploration and the purchase of plant and equipment. The company reported a cash balance of $10.93 million at the end of the quarter, after recording a net cash inflow of $18.4 million from financing activities.
With a strategic partnership with Xingye, which provided significant funding during the quarter, and multiple exploration activities ramping up across its portfolio, Far East Gold is poised for continued growth in the months ahead.
Map showing location of FEG projects in Indonesia and Australia.