Last week, Far East Gold Ltd (ASX:FEG) signed a Conduct and Compensation Agreement with property owners for the Mount Clark West copper-gold project in Queensland. Joining Proactive to discuss the this week’s developments is CEO Shane Menere.
Highlights
- Far East Gold has signed a Conduct and Compensation Agreement (CCA) with property owners for the Mount Clark West copper-gold project in Queensland.
- The agreement provides full access for drilling, resolving previous land access limitations.
- Drilling begins in early November 2025, conducted by Eagle Drilling NQ.
- The program includes three holes totalling 1,800 metres, combining reverse circulation (RC) and diamond drilling.
- Historical drilling confirmed copper mineralisation, including intervals grading up to 0.23% copper.
- The company aims to prove the existence of a copper-gold porphyry system.
- Menere said the company is among the most advanced explorers in the region, surrounded by major mining companies.
- Results from this campaign could lead to potential partnerships if economic grades are confirmed.
Proactive: We know drilling has taken place on the ground there (Mt Clark) previously. You’ve now engaged a company to test targets ahead of the new drilling campaign, which is now the key focus. What’s different this time around, and what are you betting on?
Shane Menere: Historically, a little bit of drilling was done quite a few years ago by previous owners. At that time, the company couldn’t get in and drill where we surmised this porphyry system to be. That’s all changed now with the signing of the Conduct and Compensation Agreement and having the community and landowners on board. They’ve opened the doors for us to test the targets where we believe there is a copper-gold mineralised porphyry system.
Looking at past results, mineralisation has been proven. It was a large interval of 104 metres at a relatively low grade of 0.1% copper, but that strongly suggests we’re on the right track in identifying a mineralised porphyry system. It’s also important to note that previous holes returned some higher-grade intercepts of up to 0.23% copper, which begins to approach more economic levels.
We strongly theorise that we’re on the edge of a system. We’ve defined drill targets that we expect will yield copper results with potential gold credits as well. Combining geochemical work, mapping, and assays, we believe we’re sitting on something significant. There are a lot of larger companies around and adjacent to us, and we’re probably the most advanced in the region to prove up this mineralised system.
Proactive: So all eyes will be on Mount Clark West over the coming weeks. In terms of timeframes, we’re talking early November for drilling to kick off. Can you walk investors through what they can expect?
Shane Menere: We’ll be releasing a detailed drill plan very soon as we confirm logistics. As I mentioned, we’ll begin in early November. It will be a three-hole program, each around 600 metres deep. We believe those holes will certainly prove mineralisation or not.
If we do have strong signs of mineralisation to an economic grade, the next round will follow, and we expect potential partnership interest in that region of the Drummond Basin.
Proactive: Lots to look forward to at Mount Clark West. Shane, we’ll check in with you again when drilling begins in early November.