Far East Gold (FEG) has discovered its fifth visible gold sighting at the Woyla project in Indonesia.
FEG first identified visible gold at its Rek Rinti prospect, but the company has now discovered three visible gold sightings at its Aloe Eumpeuk deposit in a month.
“Few exploration geologists these days get an opportunity to see visible gold from the drill tip,” Far East Gold chief executive officer Shane Menere said.
“We now have five instances of visible gold from different drill intercepts across two separate prospect areas at our Woyla project. These are very exciting times for the company.”
The latest instance of visible gold was discovered from drill hole AED007 that targeted the Meuh quartz vein. AED007 intersected visible gold and silver mineralisation associated with ginguro bands within a narrow quartz vein over a width of 0.5m (from 108.9–109.4m deep). This is part of a 4.8m-wide quartz zone from 108.9–113.7m.
Far East Gold said the AED007 visible gold discovery is an extension of the high-grade gold-silver zone approximately 100m to the south at drill hole AED002. AED002 intersected up to 18.46 grams per tonne (g/t) gold and 1539g/t silver across 1m from 74.5m deep.
The company is also having success at drill hole AED008, which intersected a 9m-wide zone of multi-stage quartz veins and stockwork from 101–110m deep. This is targeting a zone between AED002 and AED007.
Far East Gold has identified two northwest-trending quartz vein zones at Aloe Eumpeuk. The west-most Meuh vein zone is comprised of two parallel veins separated by volcanic wall rock.
As part of continued scout drilling at Aloe Eumpeuk, Far East Gold will test defined veins over a strike length of 300m.
Subscribe to Australian Resources & Investment and receive the latest news on commodity prices, resource developments, executive movements and more.