Far East Gold reaps rewards from ongoing exploration at Woyla
Latest samples from artisanal mine workings at Woyla have returned up to 68g/t gold, 533g/t silver, 4.84% zinc, 3.64% lead and 0.8% copper.
Two weeks after its ASX debut, Far East Gold’s (ASX: FEG) ongoing exploration activities at the Woyla project in Indonesia have extended known mineralisation at the Anak Perak target, with sampling returning bonanza grade gold and silver as well as zinc, lead and copper minerals.
The company took samples from artisanal mine workings at Anak Perak, which returned peak grades of 68 grams per tonne gold, 533g/t silver, 4.84% zinc, 3.64% lead and 0.8% copper.
Within the Anak Perak vein system a sulphide rich zone was identified and a 1m chip sample collected.
This sample assayed at 38% lead, 1.8% coper, 1.7% zinc, 96g/t silver and 0.86g/t gold.
To-date, Far East’s mapping and sampling of the Anak Perak vein system has identified 4,700m of strike, with mineralisation remaining open.
According to Far East, the expanded strike length of Anak Perak effectively doubles the potential resource area, with this mineralised system possibly to connecting with other ones across Woyla.
Woyla copper-gold project
Across the wider Woyla project, four epithermal prospects have been noted with a combined sampled strike length of 13,000m.
Located in Indonesia’s Aceh region, Woyla spans 24,260 hectares.
Far East says Woyla is “one of the most highly prospective undrilled copper-gold projects in South East Asia”.
Woyla is believed to potentially host high-grade epithermal and porphyry deposits.
Far East currently holds a 51% stake in Woyla, with this to increase to 80% once a feasibility study and a maiden JORC resource have been published.
ASX-listing
Far East listed on the ASX late last month after raising $11.73 million in a strongly supported IPO.
As well as Woyla, Far East has two other copper-gold projects in Indonesia and three in Australia.
Far East co-founder and chairman Paul Walker said the company had the right combination of highly-skilled people and quality projects.
“As a junior explorer with advanced and highly prospective projects we are excited to continue our journey towards making Far East a world-class, tier one, multi-billion-dollar mining company and unlock significant value for shareholders.”