The Aloe Eumpeuk prospect could be everything that Far East Gold dreamed for with scout drilling intersecting a 11.6m quartz zone containing high-grade gold and silver mineralisation.

This included a 1m interval containing disseminated visible gold and electrum in quartz containing sulphide-rich ginguro bands which returned assays of 18.46 grams per tonne (g/t) gold and 1,539g/t silver from a down-hole depth of 74.5m (AED002).

Importantly for Far East Gold (ASX:FEG), the occurrence of high grade mineralization within quartz veins in drill core confirms the depth extent of high-grade mineralisation sampled by the company from surface vein exposures and artisanal mining pits, which had returned bonanza peak results of 131g/t gold and 1,508g/t silver.

This earlier work had led the company to conclude that the Aloe Eumpeuk prospect within its Woyla gold project in Indonesia could host at least two quartz veins.

Additionally, geologists from previous project owner Newcrest had noted similarities at the prospect to textures associated with high-grade vein sections within the Gosowong gold district in North Maluku – which hosts one of the largest gold mines in the country.

Drill results

AED002 is the second of six planned scout holes being drilled at Aloe Eumpeuk with the first hole terminated at a depth of 51.7m after intersecting a cavity.

The hole intersected the hanging wall quartz vein within the Meuh vein zone from 75.4m to 87.1m.

This vein is comprised of massive crystalline to colloform-crustiform banded quartz containing distinct ginguro banding with fine-grained disseminated gold and electrum.

Besides the top intercept of 1m at 18.46g/t gold and 1,359g/t silver from 75.4m, the hole also returned other high grade intercepts of 1m at 12.94g/t gold and 625g/t silver from 78.5m and 1m at 9.85g/t gold and 259g/t silver from 86m.

The hole also intersected two cavities of 1.3m from 77m and 3.6m from 82.4m that suggests the presence of historical artisanal mining shafts, and infers that the hanging wall quartz vein occurs over the entire drilled width of 11.6m.

A second quartz vein-breccia zone was intersected from 95.45 to 101m. The true width of this vein has not been determined and will require additional drilling to establish.

Far East notes that the presence of two distinct veins was unexpected and suggests that additional veins may exist that are not exposed 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.

Read MoreGold

Featured Companies

You might be interested in