Far East finds visible gold at Woyla project in Indonesia
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Far East Gold has identified visible gold and electrum at the Rek Rinti prospect during its Phase 2 resource delineation drill program at the Woyla copper-gold project in Indonesia.
The company also found coarse visible gold within surface rock chip samples taken from artisanal mining pits at the Aloe Eumpeuk prospect.
Far East Gold (ASX:FEG) says the find at Rek Rinti in hole AGM007 confirms the lateral extension of high-grade mineralisation within the Agam Zone.
Notably, mineralisation in this zone is consistent with the bonanza grade gold and silver mineralisation observed within ginguro bands in massive quartz intersected in the Phase 1 scout drillhole RRD004 just 50m to northeast of AGM007 along strike in February.
The company is now expediting preparations for the maiden scout drilling program at the Aloe Eumpeuk prospect – and expects the first ever drilling of this area to commence before the end of March 2023.
Previous exploration of the prospect by Barrick in 1997 identified two high-grade veins extending for approximately 300m along strike, and previous sampling by FEG confirmed the occurrence of high-grade gold and silver within massive quartz at surface.
Assays of up to 63g/t gold and 1,179g/t silver were obtained from grab samples showing ginguro-bands.
As part of the Woyla Phase 2 scout drilling program, FEG is preparing to undertake an initial six-hole, 650m scout drill plan at Aloe Eumpeuk to test these veins that have delivered high grade gold and silver samples at surface.
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.