ASX-FEG Materials

Far East Gold Ltd (ASX:FEG) Announces Idenburg Drill Program

ClubAI 2:07 pm

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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Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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