Far East Gold’s initial scout drilling program at its Aloe Eumpeuk prospect in Indonesia continues to deliver strong results after high-grade gold and silver was intersected across a 11.6m-wide quartz zone.
This is further consolidation for the Woyla project with which the Aloe Eumpeuk prospect is located. Woyla had been explored by Newcrest and Barrick, but never drilled.
Newcrest noted that Aloe Eumpeuk bore geological similarities with other high-grade deposits in the Gosowong gold district in Indonesia, such as the Kencana gold deposit which has been mined for decades.
Far East Gold intersected three high-grade zones at drill hole AED002 across an area extending from 75.4m to 87m deep, with hits of up to 18.46 grams per tonne (g/t) gold and 1359g/t silver (34.77g/t gold equivalent).
Far East Gold said the sulphide-rich quartz zone contains disseminated visible gold and electrum.
“The occurrence of high-grade mineralisation within quartz veins in drill core confirms the depth extent of high-grade mineralisation sampled by the company from surface vein exposures and artisanal mining pits,” the company said in a statement.
Surface rock sampling of artisanal mining pits conducted by Far East Gold returned bonanza grades of up to 131g/t gold and 1508g/t silver.
Far East Gold said previous exploration at Aloe Eumpeuk had identified the presence of two northwest-trending quartz vein zones. This includes the Meuh zone, which comprises what appears to be two parallel veins separated by volcanic wallrock.
Far East Gold has completed two drill holes as part of its planned six-hole, 650m scout drill program at Aloe Eumpeuk.
Drill hole 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.
AED002 targeted the Meuh vien at approximately 100m depth, with two separate quartz vein and breccia zones identified from drilling so far.
Accompanying the 75.4m–87.1m zone of high-grade gold and silver, Far East Gold intersected a second zone from 95.45m to 101m of massive-to-banded quartz, which will require follow-up drilling to understand the true width.
Subscribe to Australian Resources & Investment and receive the latest news on commodity prices, resource developments, executive movements and more.