Far East Gold has received environmental approval to complete advanced exploration works at the fancied Woyla gold project in Indonesia.
The likes of Barrick Gold and Newcrest Mining have explored Woyla in the past, but neither received the Indonesian Government approval that Far East Gold has been granted.
Far East Gold has been granted permission to drill a 7529-hectare area within Woyla, which encompasses four main epithermal prospect areas: Anak Perak, Rek Rinti, Aloe Eumpeuk and Aloe Rek. The approved area also includes the Lower Beurieung porphyry target.
The junior will be able to carry out geological mapping, rock and soil sampling and airborne magnetics within Woyla. The permit also grants geophysics induced polarisation (IP) surveying, trenching, and drilling.
Far East Gold is also seeking approval that will enable it to complete drilling on forest-designated land within the Woyla tenement. For this, the company will lodge an application for an Izin Persetujuan Penggunaan Kawasan Hutan (IPPKH) through the Indonesian Government.
While Far East Gold awaits approval for the IPPKH it will be able progress advanced exploration on non-forest designated land in the northern section of the Anak Perak prospect area.
The Woyla project is underpinned by a sixth-generation contract of work (CoW), which was originally granted in April 1997 and amended in April 2017. There are only 20 such CoWs for gold and mineral mining in Indonesia, which include Tier-1 assets such as the Gosowong gold mine and the Batu Hijau copper-gold project.
Using historical exploration from Barrick Gold (1996–98) and Newcrest (1999–02) as a foundation, Far East Gold has seen remarkable results at Woyla so far.
The company has extended the total strike length of known epithermal vein systems to 13,000m and confirmed the presence of bonanza grade gold with assay results of up to 119 grams per tonne (g/t) gold and 1179 g/t silver.