Commodities, Exploration/Development, Gold, News

Bonanza grades on the menu for Far East Gold

Far East Gold

Far East Gold has undertaken further petrographic studies to reaffirm its recent bonanza-grade gold and silver findings at the Woyla project in Indonesia.

In mid-April, the company announced the discovery of bonanza-grade gold zones within Woyla’s Anak Perek veins, which were found from rock sampling conducted between December 2021 and March 2022.

One sample returned 68 grams per tonne (g/t) gold, 533 g/t silver, 4.84 per cent zinc, 3.64 per cent lead and 0.8 per cent copper.

On April 26, Far East Gold announced further bonanza-grade gold and silver from its Rek Rinti and Aloe Eumpeuk vein systems, while the Aloe Rek vein has also shown the same high-grade potential.

The ASX-listed company said the petrographic studies confirmed the presence of free gold associated with sulphides at Anak Perek, Rek Rinti, Aloe Eumpeuk and Aloe Rek.

“The results of the company’s studies corroborate a previous petrographic study by Newcrest on the Aloe Rek vein system that also identified gold (electrum) associated with sulphides in ginguro-type bands,” Far East Gold said in a statement.

“The unique quartz texture characteristics associated with zones of high-grade gold and silver have now been confirmed within all four vein prospects. This indicates the potential for discovery and delineation of multiple zones of high-grade mineralisation.”

Far East Gold said it had also upgraded critical site infrastructure, including the enhancement and expansion of the site camp, while access roads have been upgraded to enable mobilisation of drill rigs.

On June 20, Omega Drilling signed a contract to complete the first phase of the drill program at Woyla’s Anak Perak prospect.

Far East Gold was granted environmental approval in early June that neither Barrick Gold and Newcrest Mining could achieve when they explored Woyla.

The permits enable Far East Gold to drill a 7529-hectare area within Woyla encompassing the Anak Perak, Rek Rinti, Aloe Eumpeuk and Aloe Rek prospects. The approved area also includes the Lower Beurieung porphyry target.

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