Far East Gold Ltd (ASX:FEG) Announces Idenburg Drill Program
Drill Program
Far East Gold Ltd (ASX:FEG) will undertake a comprehensive drilling programme at the Idenburg gold project in Papua, targeting a total of 3,670 metres across 32 holes. This initiative aims to enhance the existing 540,000 ounces @ 4.1 g/t JORC-compliant inferred gold resource.
Resource Estimates
Independent consultants SMGC reported a JORC-compliant resource estimate of 4.1 million tonnes at an average grade of 4.1 g/t gold and 3.6 g/t silver, amounting to 540,000 ounces of gold and 468,000 ounces of silver. The exploration will focus on the Sua, Bermol, and Mafi prospect areas, which currently account for approximately 30% of the total Country of Work (CoW) area. Additionally, an Exploration Target of up to 7.2 million ounces at 6.1 g/t gold has been identified by SMGC.
Executive Comments
CEO & Managing Director Shane Menere stated, “This is a pivotal time for FEG. The Company is well-funded and has the people and plans in place to complete our exploration strategy. The focus is to significantly increase the insitu gold resource and advance the project to feasibility as quickly as possible.”
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