Commodities, Exploration/Development, Gold, News

Far East Gold hits bonanza gold and silver at Woyla

Far East Gold Woyla

Having only recently commenced its maiden drill program at the Woyla gold project, Far East Gold has already intersected bonanza-grade gold and silver.

Phase 1 drilling targeted the Anak Perak and Rek Rinti vein systems at the Indonesian project, with bonanza-grade gold and silver achieved from three separate drill holes.

Far East Gold considers the three holes to be ‘discovery holes’, with the potential for high-grade gold and silver resources within three separate quartz vein-breccia zones.

Rek Rinti returned bonanza grades of 78 grams per tonne (g/t) gold and 631g/t silver over 0.5m (from 108.6m) at drill hole RRD004, while RRD003 intersected 59g/t gold over 1m (from 192m).

Other significant assays at RRD004 included 4.9g/t gold and 68.6g/t silver over 13m (from 98–111m), including 8.1g/t gold and 113.8g/t silver over 7.6m (from 102.4–110m). RRD004 showed a very rare occurrence of fine-grained electrum mineralisation at 108.8m downhole in a narrow zone of ginguro-banded quartz.

Far East Gold has received assays from Anak Perak drill holes APD001–011, with significant assays including 3.2g/t gold and 10.4g/t silver over 10.75m (from 49.35–60.1m), including 7.8g/t gold and 17.5g/t silver over 3.5m (from 50­–53.5m). Within this, there was a 24.91g/t gold and 25.2g/t silver hit over 0.3m.

“It is very exciting for the company that our Phase 1 drill program has successfully produced a discovery hole in three different veins from two separate vein systems,” Far East Gold chief executive officer Shane Menere said.

“This confirms our belief that Woyla has the potential to host a significant high-grade epithermal gold-silver resource. Our aim is to advance these discoveries to a maiden JORC resource estimate as quickly as possible.”

These results were pulled from eight completed drill holes at Rek Rinti (for 1218.6m of drilling) and 17 completed drill holes at Anak Perak (for 2312.2m of drilling).

Far East Gold was only given the green light to drill Woyla in September, achieving a feat that neither Barrick Gold nor Newcrest Mining could accomplish. It is these bonanza grades that confirm Woyla as one of the most promising gold projects in South-East Asia.

Far East Gold aims to complete the Phase 1 drill program at Anak Perak and Rek Rinti by the end of 2022, before a maiden JORC resource is defined.

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