Far East Gold Ltd (ASX:FEG) has reported a high-intensity December quarter marked by new high-grade gold intersections, zone extensions and multiple near-term drilling catalysts across its Indonesian and Australian portfolio.
Map showing location of FEG projects in Indonesia and Australia.
The standout results came from the Sua and North Bermol prospects within the company’s flagship Idenburg Gold Project in West Papua, where drilling confirmed continuity of mineralisation, delivered coarse visible gold, and highlighted scope to expand existing resources.
Map showing prospect and resource areas within the Idenburg COW tenement. The areas of announced PIPPIB forest reclassification are also indicated. Refer to Appendix 1 Table 1 for details of the JORC2012 Inferred Mineral Resource Estimate for Idenburg as completed by SMGC. Coordinates are referenced to datum WGS84, zone 54 south.
High-grade hits extend Sua mineralisation
At the Sua prospect, Far East Gold completed 10 diamond drill holes for 1,836 metres, targeting depth and strike extensions to known gold zones intersected in historical drilling.
Map image showing the Sua prospect area and the locations of completed FEG drillholes (KSD023 to 032). Assays have been received for FEG holes KSD023-027). Also shown are planned holes (yellow italics) that will test the downdip extension of defined mineralised zones. Planned extension holes are identified as PKSD prefix.
Results confirmed stacked, high-grade gold mineralisation hosted in milky quartz ± sulphide veins within the 5-kilometre-long Sua–Afley shear zone, with mineralisation remaining open down-dip and along strike.
Notable intercepts included:
- 24.08 g/t gold over 5.3 metres from 20 metres, including 131 g/t gold over 0.8 metres and 180 g/t gold over 0.4 metres (KSD023)
- 8.59 g/t gold over 35.5 metres from 23.5 metres, including 252.5 g/t gold over 0.8 metres (KSD024)
- 8.42 g/t gold over 7.7 metres from 106.3 metres, including 34.65 g/t gold over 0.7 metres (KSD025)
- 8.82 g/t gold over 4.5 metres from 120 metres, including 51 g/t gold over 0.5 metres (KSD026)
The company said the results indicate potential to significantly expand the current resource estimate at Sua, which already hosts a JORC (2012) inferred resource of about 296,000 ounces at 3.7 g/t gold.
Far East Gold has approved a five-hole extension program at Sua totalling 1,360 metres, while assays remain pending from the final five holes of the initial program.
Interpreted long section (looking Northwest) showing the trace of FEG holes KSD023 to 027 and historical holes. The holes tested separate, stacked mineralized zones along the length of the Sua prospect area. Assays are pending for holes KSD028-032. The collars for FEG holes KSD025-026 were located at a higher elevation than the section profile and have been projected onto the section.
North Bermol emerges as shallow discovery
Drilling at North Bermol delivered a new near-surface gold discovery, with 18 holes for about 960 metres completed by quarter end.
The program defined a broad, shallow-dipping thrust-fault shear zone hosting gold mineralisation to depths of around 43 metres, with 3D modelling suggesting a strike length of at least 350 metres and width of roughly 300 metres.
North Bermol prospect map showing locations of completed and planned (italics) drill holes. The interpreted Eastern margin of the North Bermol shear zone is shown in orange.
Key intercepts included:
- 5 metres at 4.9 g/t gold from 23.5 metres, including 1.6 metres at 12.8 g/t gold (BND004)
- 2.8 metres at 8.4 g/t gold from 32 metres, including 1.6 metres at 12.3 g/t gold (BND005)
- 2.6 metres at 3.9 g/t gold from 11.3 metres, including 0.5 metres at 15 g/t gold (BND003)
The shear zone remains open in both strike directions and is considered highly prospective for further near-surface discoveries.
Long section (looking northwest) through the North Bermol prospect area.
Permitting milestone unlocks growth
A key regulatory milestone during the quarter was the granting of PIPPIB reclassification — a critical Indonesian environmental and regulatory approval — of about 9,000 hectares of the Idenburg project, reclassifying the area to Production Forestry and clearing a pathway towards environmental permitting and future mine development.
“This has been one of the most productive and strategically important quarters for Far East Gold since our inception,” said managing director and CEO Shane Menere. “Our team has worked relentlessly across multiple fronts advancing mapping, sampling, permitting and drilling programs to unlock the significant potential within our Indonesian gold portfolio.
“At Idenburg, we have been deeply engaged in drilling across three prospect areas, with work confirming the scale and continuity of gold-bearing structures at Bermol and exciting new high-grade results emerging from North Bermol,” he said.
Manere added that preparations were well advanced for drilling at the Kwaplu high-grade zone in Papua, with additional drilling planned at the Trenggalek copper-gold project in East Java and Mount Clark West in Queensland.
Core tray from MCDD07 showing drilled interval 317.79 to 321.13m. The core shows intense quartz-carbonate veining with pyrite indicative of porphyry related alteration. Selected intervals will be sampled for assay.
During the quarter, Far East Gold capitalised $471,000 in exploration expenditure and expensed a further $1.5 million on drilling and support activities at Idenburg.
“With multiple drill programs now active or imminent and a steady stream of assays expected over the coming months, we are entering a period of consistent news flow and value creation,” Menere said.
“The groundwork has been laid — and we are now delivering tangible results for our shareholders as we advance toward a new era of discovery and development.”