The gold and silver sweet spot at Rek Rinti is indicative of a central core of high-grade mineralisation. Pic: via Getty Images.
Mining
Far East’s drilling has uncovered a high-grade gold and silver ‘sweet spot’ at the Rek Rinti prospect area that further highlights the prospectivity of its Woyla copper-gold project in Aceh, Indonesia.
Woyla is a highly prospective 24,260 hectare project held under a 6th Generation Contract of Work previously explored by major companies such as Barrick and Newcrest.
However, Far East Gold (ASX:FEG) — which has a 51% stake in the project that can be increased to 80% by completing a Feasibility Study and defining a maiden JORC resource — trumped the majors by becoming the first company to secure the right to drill at Woyla.
To date, the company has drill tested six of the 12 quartz vein zones identified from historical and recent surface mapping within the Anak Perak, Rek Rinti and Aloe Eumpeuk vein system prospects at Woyla.
Its Phase 1 and Phase 2 diamond drilling programs have already returned a significant number of very promising high-grade gold and silver intercepts that defined discrete zones of mineralisation in each vein system – including peak assays of 81g/t gold and 1,359g/t silver.
Interpreted cross section through the Pertama vein looking northeast. Pic: Supplied (FEG).
Far East has now added even more to this growing sense of the project’s prospectivity with Phase 2 resource delineation and scout drilling intersecting a zone of significant mineralisation within the Pertama vein southwest of the Agam zone in the Rek Rinti prospect area.
Drill hole RRD019 intersected a 34.7m wide zone of pyritic andesite volcanics containing locally massive, multiphase quartz veins and stockwork quartz veins that returned a significant assay of 1.3m at 6.13 grams per tonne (g/t) gold and 65.8g/t silver from a down-hole depth of 38.9m including 0.4m at 9.26g/t gold and 61g/t silver from 39.8m.
Meanwhile, hole RRD020 returned assays of 0.8m at 9.3g/t gold and 19.9g/t silver from 33.8m and 1m at 9.21g/t gold and 96g/t silver from 60m within a 38.1m zone similar to that seen at RRD019.
The results from both holes indicate there is a central core of massive to vuggy, chalcedonic and colloform-banded quartz that hosts high grade gold and silver mineralisation in this location of the Pertama vein.
“We have been excited by the numerous bonanza grade gold and silver assay results so far from our initial scout drilling at Woyla,” chief executive officer Shane Menere said.
“These previous results, coupled with the recent discovery at Rek Rinti of a nearly 40m wide zone of significant and consistent mineralisation from two drill holes in a relatively untested quartz vein confirms the remarkable prospectivity of the Woyla project.”
Besides the receipt of further assay results, Far East had noted in August that it had contracted a detailed UAV magnetic and Lidar survey at 50m line spacing over the Rek Rinti, Aloe Eumpuek and Aloe Rek vein systems.
It noted then that it was considering an expansion of the magnetic survey over part of the Beurieung area to assist with defining porphyry targets.
Data from this work will be combined with current drilling information and surface mapping to define and prioritise drill targets.
This article was developed in collaboration with Far East Gold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
