Far East Gold has breakthrough at Woyla, readies for drill rigs

Far East Gold (ASX: FEG) says petrographic studies have confirmed the presence of free gold associated with sulphides in samples of vein material collected from the Woyla copper-gold project in Indonesia.

The free gold was found in the Anak Perak, Rek Rinti, Aloe Eumpeuk and Aloe Rek epithermal vein systems.

In addition, the company has completed upgrades to site infrastructure including an expansion of the camp and improving access roads for drill rigs.

A contract has been signed with Omega Drilling for the first phase of work at the Anak Perak prospect, which will be carried out in collaboration with the Geological Agency of the Indonesian Government’s Ministry of Energy and Mineral Resources, which is currently completing the induced polarisation (IP) survey works at Anak Perak.

In the upcoming drill program, 10 diamond holes will be completed for a total 1,400m.

Studies to better understand gold type

Far East Gold previously announced an increase from 5,000m to 13,000m in the defined epithermal strike length across its four priority targets at Woyla.

This was followed by the petrographic studies to better understand the mode of gold occurrence.

These samples assayed at what the company describes as “bonanza” gold and silver grades, with highlights of 119 grams per tonne gold (Aloe Rek), and 1,164 g/t silver (Rek Rinti).

Other minerals were also identified with a peak of 8,069 parts per million copper (Anak Perak), 57ppm barium (Rek Rinti), 5ppm bismuth (Rek Rinti, Anak Perak, Aloe Eumpeuk, and Aloe Rek), 26ppm molybdenum (Aloe Rek), 36,400ppm lead (Anak Perak), 224ppm antimony (Aloe Rek), and 48,400ppm zinc (Anak Perak).

The results of the company’s studies corroborate a previous petrographic study by Newcrest Mining (ASX: NCM) on the Aloe Rek vein system that also identified gold associated with sulphides in ginguro-type bands.

‘One of the most highly prospective’ undrilled copper-gold targets in region

Far East Gold noted the results “confirm the presence of high-grade gold and silver mineralisation associated with ginguro banded quartz within all of the defined Woyla vein systems”.

Woyla covers 24,260 hectares in the Aceh region of Northern Sumatra.

“It is the company’s opinion this project is one of the most highly prospective undrilled copper-gold projects in South East Asia,” Far East Gold stated.

“The unique quartz texture associated with zones of high-grade gold and silver have now been confirmed within all four vein prospects,” it added.

Hill 212

The positive Woyla results followed the identification of an additional 7.5km of potential strike at the Hill 212 gold project in central Queensland. Taking the potential strike length now to 10km from the original 2.5km.

The additional strike was identified from a CSAMT (controlled-source audio-frequency magnetotellurics) survey completed last year.

If confirmed by drilling, the known strike extent at Hill 212 will expand to 10km.

Preparations are underway in readiness for a phase one drilling program at the project, which will be based on the results from last year’s CSAMT survey.

Geology technical advisor Dr Chris Bowen is on site and will lead the campaign.

Hill 212 covers 1,920ha in Queensland’s Drummond Basin.