
May 03, 2024
Far Northern Resources (ASX:FNR) focuses on three gold and base metals projects – two based in Northern Queensland (Empire and Rocks Reef) and one in the Northern Territories (Bridge Creek). Far Northern Resources debuted on the ASX on April 12, 2024, and secured AU$6 million in funding.
The company's Empire Project is located 34 kilometres west of Chillagoe in North Queensland covering 252 hectares, on granted mining lease 20380. The claims boast a rich exploration history, marked by substantial drilling conducted across various phases. This culminated in the determination of a 2019 mineral resource estimate of 22,505 oz of gold on the Empire Stockworks gold deposit.
Far Northern is planning a 20,000-meter drilling program over the next two years, which will consist: of 5,000+ meters for Empire; 2,500 to 5,000 meters for Bridge Creek; and 2,500 meters planned at Rocks Reef in the China Wall prospect.
Company Highlights
- Far Northern Resources (FNR) is a newly listed Australia-based gold and base metals exploration company. The company was listed on the ASX on April 12, 2024, following the completion of its IPO in which it raised AU$4 million.
- The company has three projects across Northern Queensland and the Northern Territories – Empire, Bridge Creek and Rocks Reef. Empire and Bridge Creek are significantly advanced, drill-ready with JORC-compliant resources.
- The flagship project Empire has undergone extensive exploration work culminating in a 2019 mineral resource estimate of 22,500 oz gold. The company intends to undertake 5,000 meters of drilling at Empire over the next two years which should lead to further expansion of the resource base.
- At Bridge Creek, FNR is planning a 2,500- to 5,000-meter drilling program, which aims to enhance inferred resources to indicated status, as well as extend the mineralization both along the strike and at depth.
- The Rock Reefs property presents a prospective upside for FNR with historical exploration confirming the presence of a mineralized vein system at the China Wall prospect. FNR is planning a 2,500-meter drill program at the China Wall prospect.
- The presence in relatively attractive mining jurisdictions in Australia positions the company to capitalize on opportunities in Australia's resource sector and deliver superior returns to its shareholders.
This Far Northern Resources profile is part of a paid investor education campaign.*
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The Conversation (0)
21 May
Bridge Creek Phase 1 Assay Composites Received
29 April
Quarterly Activities/Appendix 5B Cash Flow Report
08 April
Drilling to Commence on Bridge Creek Mining Lease
24 July
Aurum hits 1.43m at 234.35 g/t gold from 107m at BMT3
24 July
Newmont Uses Drones, Remote Equipment to Reach Trapped Miners in Red Chris Mine
Newmont (TSX:NGT,NYSE:NEM) has deployed drones and a remote-controlled scoop to help rescue three workers trapped underground since Tuesday (July 22) at its Red Chris gold mine in BC.
The incident occurred during work on a non-producing section of the mine’s underground development project.
According to the company, the three contract employees were initially located more than 500 meters beyond the site of the first collapse. They were directed to relocate to a designated refuge chamber before a second fall of ground sealed off the access way and disrupted communication.
“Following the first event, contact was established with the individuals and confirmation was received that they had safely relocated to one of multiple self-contained refuge bays,” Newmont said in a Wednesday (July 23) statement. “The refuge stations are equipped with adequate food, water and ventilation to support an extended stay.”
The company is using aerial drones to assess underground conditions, while a remote-controlled scoop has been deployed from Newmont’s Brucejack mine, also in BC.
It will begin clearing the estimated 20 to 30 meters of debris obstructing the tunnel.
Communication with the trapped miners remains severed after the second collapse, but the company said the men are believed to be sheltering in a chamber designed to support up to 16 people.
Operations at Red Chris have been suspended to focus entirely on rescue efforts. The company said that it has activated emergency protocols and assembled specialized rescue teams from nearby mine sites.
While the full extent of the damage underground is still being assessed, the use of unmanned equipment is intended to reduce risk to emergency personnel while the area remains geotechnically unstable.
Newmont has not provided an estimated timeline for reestablishing contact or extracting the workers, but emphasized that all available technology and expertise are being brought to bear.
The Red Chris mine, located roughly 80 kilometers south of Dease Lake and more than 1,000 kilometers north of Vancouver, is operated by Newmont under a 70/30 joint venture with Imperial Metals (TSX:III,OTC:IPMLF).
The operation has been producing since 2015, though the incident occurred in a non-producing development zone.
Last year, Red Chris produced approximately 40,000 ounces of gold, making it one of the smaller contributors in Newmont’s global portfolio. The company acquired its majority stake in the mine through its 2023 purchase of Newcrest Mining, which previously managed the asset.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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23 July
Joe Cavatoni: Gold's Key Driver Now, Catalyst for Next Leg Higher
Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, explains that market risk and uncertainty are driving gold, with H1 2025 seeing multiple record highs.
"Think strategically when you think about gold, and keep that allocation in mind," he said.
He also shares thoughts on the importance of central bank allocations and the potential impact of tariffs and US economic conditions on gold during the second half of 2025.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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23 July
Falco Resources Eyes Governmental Decree for Horne 5 Gold Project Before Year End
Falco Resources (TSXV:FPC) has entered the final stages of the environmental authorization process for its flagship Horne 5 gold project in Quebec, with a government decision expected by late 2025.
“(An environmental analysis) report should be submitted to the minister in the next few months, and the final decision has to be done by decree,” said Luc Lessard, president and CEO of Falco Resources, in an interview with Investingnews.com. The company is hoping the decision will come sometime late in 2025, Lessard added.
Located in the prolific Abitibi region, the Horne 5 project is central to Falco’s strategy to support Quebec’s ambition to lead the energy and technological transition. Lessard emphasized that the project’s mineral profile, particularly its zinc and copper content, makes it well-positioned to align with Quebec’s broader critical and strategic minerals development plan.
The chief executive also noted the Horne 5 project leverages several environmental innovations, including a set of measures to protect waterways and drinking water intake, the Implementation of a dust collection system to reduce metal emissions from mine ventilation by 98.64 percent, and the use of already disturbed sites unlikely to be rehabilitated without the mining project.
Falco is also looking to the future with significant exploration potential for the Horne 5 project, beyond its current deposit.
Falco owns about 67,000 hectares of land package in the Abitibi, Lessard noted. “That gives us the possibility to increase additional resources closer to the surface, add some feed to the central mill of the Horne 5 project, and that will increase the life of mine.”
Watch the full interview with Falco Resources President and CEO Luc Lessard above.
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22 July
Quarterly Activities/Appendix 5B Cash Flow Report
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