Far East heads south at Woyla, hitting high-grade Indonesian gold

• Scout drilling extends mineralised strike towards the south of Aloe Rek prospect
• Assays include a thick 20m intersection containing 7.57g/t gold
• Results show potential for high-grade gold mineralisation to the south of drilled area

Special Report: Another batch of assays from Far East Gold’s maiden scout drill program at the Aloe Rek prospect of the Woyla copper-gold project have returned some of the best cumulative gold intercepts to date.

Far East Gold (ASX: FEG) is farming in to the Woyla copper-gold project, which spans across 24,260ha in the Aceh region of North Sumatra, Indonesia.

The explorer believes it’s one of the most highly prospective undrilled copper gold projects in South-East Asia, with the potential to host high-grade epithermal and porphyry deposits.

FEG currently holds a 51% interest in Woyla, yet that can rise up to 80% upon the completion of a feasibility study and definition of a maiden JORC resource estimate for the project.

Gold intercepts at Aloe Rek

An initial scout drilling program has wrapped at the Aloe Rek prospect’s vein systems, completing 12 holes across 1884m and the first nine assays have turned in the best gold intersections so far.

That’s further confirmation the company is on to something here, after the first hole, drilled in April, cropped up a 12.4m at 5.59g/t gold hit.

The current drill program is testing the Victory vein system with 50 and 100m spaced drill holes over a strike length of 500m and to a vertical depth of approximately 250m.

Highlight hole ARD-009 showed:

20m at 7.57g/t gold and 8.5g/t Ag from 67.5m to 87.5m, including. 11m at 13.45g/t gold and 13.68g/t silver from 70.5m to 79m.

As well as a best intercept of a whopping 3.3m at 31.64g/t gold and 26.8g/t silver from 75.8m to 79m.

The intersected mineralisation shows the deposit remains open at depth and along strike to the south, where grab samples from an exposed vein returned 15.6g/t gold and 25.8g/t silver – which the company says indicates the possibility for further high-grade gold extensions southward.

Locations of the latest drill holes and gold grades at the Aloe Rek prospect. Pic supplied: (FEG)

“Woyla continues to reveal more of why it was historically considered one of the best undrilled prospects in South East Asia,” FEG CEO and Executive Director Shane Menere says.

“FEG was first to drill and develop the project, and it certainly has not disappointed.

These latest high-grade results combined with sizeable meterage at the drill tip, confirm what Barrick suspected when it targeted Aloe Rek as its top ranked prospect area.

“This is exciting times for FEG as it hits its targets and unlocks value in its portfolio of world-class gold and copper assets.”

Mapping and surface rock sampling is continuing to define drill targets to test.

Q&A Session: Far East Gold’s CEO Shane Menere will be joined by Non-Executive Chairman Justin Werner for an online Q&A session today, Tuesday July 23, 12.00pm AEST.

Book your spot or request a replay here

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.