Having established Rek Rinti and Anak Perak as future gold-producing deposits, Far East Gold has now got a third prospect that’s turning heads at its Woyla project in Indonesia.
Far East Gold has identified multiple occurrences of visible gold at its Aloe Eumpeuk prospect after only commencing scout drilling at the deposit in early April. Aloe Eumpeuk is located approximately 1.5km from the Rek Rinti prospect that delivered bonanza gold and silver grades late last year.
The second hole of a planned six-hole, 650m scout drill program at Aloe Eumpeuk intersected a multi-phase quartz vein containing visible gold and natural gold-silver electrum at several sites over a width of 4.2m (from 75.4m to 79.6m).
This drill hole (AED002) targeted the Meuh vien at approximately 100m depth, with two separate quartz vein and breccia zones identified from drilling so far.
This includes a zone from 75.4m to 87.1m that includes the visible gold sightings and a second zone from 95.45m to 101m of massive-to-banded quartz.
Far East Gold said it would need to complete additional drilling to understand the true width of the intersections from AED002.
The other drill hole completed so far, AED001, targeted the Meuh vien at approximately 50m depth. This was terminated at 51.7m depth after an artisanal mine shaft was intersected, but Far East Gold identified broken pieces of quartz that indicated the Meuh vein was present.
Far East Gold chief executive officer Shane Menere said the findings at AED002 have come as a surprise.
“It was a huge milestone for the company when we recently commenced the first-ever scout drilling at the Aloe Eumpeuk prospect area,” he said.
“Our expectation for the Phase 2 scout drilling program at Woyla is to build upon the solid early-stage exploration results and identify areas of potential commercial grade gold and silver mineralisation within the project’s extensive epithermal vein systems.
“Four occurrences of visible gold and electrum in a single drill-core is a fantastic result and we are very excited about the potential of the prospect area.”
Subscribe to Australian Resources & Investment and receive the latest news on commodity prices, resource developments, executive movements and more.