Far East Gold Ltd (ASX:FEG) has announced a significant new gold discovery at its Idenburg Project in Papua Province, Indonesia, confirming what the company describes as the “district-scale potential” of the region.
The find comes from the company’s first-ever scout drilling program at the North Bermol prospect, which identified a new northwest-trending shear zone hosting high-grade gold mineralisation similar to that seen at the main Bermol deposit.
Cross section (looking North) showing the trace of the North Bermol shear zone and significant intersections within holes BND004/005. Mineralisation remains open laterally and down-dip within the shear plane.
Strong gold intercepts from first drill holes
Assays from the first five drill holes at North Bermol have returned standout results, including:
- 2.6 metres at 3.9 g/t gold from 11.3 metres, including 0.5 metres at 15 g/t gold (BND003);
- 5 metres at 4.9 g/t gold from 23.5 metres, including 1.6 metres at 12.8 g/t gold (BND004); and
- 2.8 metres at 8.4 g/t gold from 32 metres, including 1.6 metres at 12.3 g/t gold (BND005).
North Bermol plan map showing locations of completed drill holes BND001-005. The interpreted extent of the North Bermol shear zone is indicated in orange.
The mineralisation is hosted in shallow zones of intense deformation containing quartz veins and coarse sulphide minerals, interpreted as part of a newly identified shear structure.
Photos of drill core from holes BND004 (A) and BND005 (B) showing highly fractured quartz within coarse blebs of sulphide in the matrix. The coarse sulphide and massive quartz within a intensely deformed shear zone suggests that the sulphides (and associated gold mineralization) occurred late in the deformation history. A) from hole BND004 (24.8m), assayed 15.4 g/t Au over 0.5m from 24.8-25.3m. B) from hole BND005 (34.3m), assayed 12.7 g/t Au over 0.5m from 34.3-34.8m.
Assays from seven additional holes are pending, while follow-up drilling is being planned to extend the zone a further 350 metres to the south.
Strengthening district-scale view
Far East Gold CEO Shane Menere said the discovery “fundamentally strengthens our view of Idenburg as a genuine district-scale gold system”.
“These results, when viewed in the context of Bermol, are extremely significant,” Menere said.
“At Bermol, just seven mineralised drill holes out of nine delivered a JORC Inferred Resource of 228,000 ounces gold across a 600-metre strike and 300-metre width, with a best intercept of 5 metres at 5 g/t gold,” he added.
“At North Bermol, we are already seeing a similar best intercept of 5 metres at 4.9 g/t gold, and importantly the characteristic shearing and sulphide mineralisation has been confirmed visually for over 300 metres of strike and over a dip extent of 400 metres.”
3D model showing the assumed extent of the North Bermol shear zone. The shear zone is interpreted to occur as a low angle plane, that ranges from 2-6m in thickness and dips to the northeast.
Broader exploration campaign advancing
The discovery expands the company’s gold footprint within the Idenburg Contract of Work and adds new structural targets for follow-up work.
Map showing prospect and resource areas within the Idenburg COW tenement. Areas of recent PIPPIP reclassification are shown (green). The North Bermol prospect is indicated.
FEG is now progressing drilling at the nearby Sua prospect, where 18 of 22 historical holes intercepted high-grade mineralisation, including 5 metres at 21.8 g/t gold. Sua currently hosts a JORC Inferred Resource of 296,000 ounces at 3.7 g/t gold.
Read more: Far East Gold starts diamond drilling at high-grade Sua prospect
Preparations are also advancing at the Kwaplu prospect, which has geological similarities to Sua and a larger surface anomaly with soil assays up to 3.5 parts per million (ppm) gold.
With more than A$9 million in cash at the end of the September quarter, Far East Gold says it is well funded to continue advancing exploration across the Idenburg project, which now hosts multiple confirmed mineralised zones and high-priority structural targets.
“The broader Idenburg story is rapidly unfolding into one of the most compelling gold exploration opportunities in the region,” Menere said.