Far East Gold (ASX: FEG) has announced an independent initial total JORC inferred resource estimate (MRE) of 540,000 ounces of gold @ 4.1 g/t and 468,000 ounces of silver at 3.6 g/t at the company’s Idenburg Project in Papua, Indonesia.
This initial JORC resource estimate was determined by SMG Consulting from three of the 14 prospects identified within the 95,280 ha Idenburg CoW.
Highlights
- Total inferred JORC resource estimate of 540,000 ounces gold at a grade of 4.1 g/t and 468,000 ounces of silver at a grade of 3.6g/t.
- The total resource is comprised from the Sua, Bermol and Mafi prospects using historical drillhole data supplemented by newly acquired topographic survey data and revised 3D deposit modelling.
- Previous exploration focused on only about 30% of the total CoW area and most of the property remains vastly under-explored and holds potential for an expansion of the contained resources.
- The resource estimates are consistent with the initial exploration targets determined by SMGC in the June 2024 Exploration Target Report released by the company on August 21, 2024.
- The company is confident of expanding the initial JORC gold-silver resource through a planned detailed surface mapping and sampling program followed by a Phase 1 drill program, including within the 3 prospects mentioned in the report.
The Idenburg Project is situated within the Keerom and the Pegunungan Bintang Regencies of Papua, near the border with Papua New Guinea. The all-weather Trans Irian Highway is an asphalted road from the regional capital of Jayapura that transects the Exploration COW and allows for relatively easy access and cost-effective logistical support.
Compared to other projects in Papua logistical support is simple and cost-effective especially when compared to the other major producers in Papua.
Field observations show that the basic style of gold mineralisation as determined from mapping and drill core logging is of the orogenic gold type, also referred to as mesothermal lode gold. The presence of coarse gold with a high nugget value is inherent to deposits of this type and will need to be evaluated when sampling or assaying.
In June 2024, SMGC reported Exploration Targets for all 14 prospects identified within the Idenburg CoW area. Refer to the independent SMG Consultants (SMGC) report titled Pt. Iriana Mutiara Idenburg Exploration Targeting Report of June 2024.
