Far Northern Resources (ASX:FNR)

Far Northern Resources September 2024 Quarterly Report

Far Northern Resources (ASX:FNR) (FNR or the Company) recently completed a targeted Reverse Circulation (RC) drilling program at the Empire Mining Lease. This program aimed to update and infill the 2020 resource model, with a focus on the primary vein at the northern end of the Empire Stockworks. The drilling results have confirmed the presence of high-grade gold zones (>3 g/t Au), with mineralization remaining open at depth and along strike, indicating further exploration potential.


Highlights Project: The Empire Projects / Chillagoe, North Queensland

  • Completion of drilling in North Queensland.
  • In the process of updating the Resource Model at Empire.
  • Base Case Sensitivity Analysis of Empire North underway.

Drilling Results

Six RC drill holes were completed, all of which intercepted high-grade quartz veins in line with the previous modelling.

The following assay results were announced to the market on 13 September1

  • 4m @ 1.24g/t Au from 28m in FNRRC031 (incl. 1m @ 2.90 g/t Au)
  • 1m @ 1.20g/t Au from 43m in FNRRC031
  • 1m @ 1.01g/t Au from 13m in FNRRC032
  • 3m @ 0.93g/t Au from 50m in FNRRC032
  • 1m @ 14.96g/t Au from 9m in FNRRC033
  • 1m @ 9.05g/t Au from 44m in FNRRC033
  • 1m @ 2.49g/t Au from 11m in FNRRC034
  • 8m @ 3.03g/t Au from 18m in FNRRC034 (incl. 5m @ 4.31 g/t Au)
  • 1m @ 1.32g/t Au from 32m in FNRRC034
  • 1m @ 1.02g/t Au from 41m in FNRRC034
  • 1m @ 2.80g/t Au from 0m in FNRRC035
  • 1m @ 1.45g/t Au from 11m in FNRRC035
  • 1m @ 1.24g/t Au from 14m in FNRRC035
  • 6m @ 1.23g/t Au from 29m in FNRRC035
  • 1m @ 1.30g/t Au from 32m in FNRRC036

These intercepts demonstrate the continuity of high-grade mineralization within the Empire Stockworks, supporting the potential for future mining operations. The assays will be fed into an updated resource and economic model to reflect current gold prices, forming the basis for future feasibility studies.

Far Northern Resources Mineral Resources as at the date of fnr’s prospectus

These figures provide an important foundation as the Company looks to future expansion.

Strategic Positioning

FNR is in a strong position to advance the Empire Project, given its proximity to a mill located less than 20 km from the current mining lease. The mill access greatly enhances the economic feasibility of mining operations and will be crucial as the company moves into more advanced feasibility studies.

Looking Forward

The FNR team remains excited about the exploration potential at the Empire Stockworks. With the deposit still open at depth and along strike, the board is confident that additional drilling will continue to expand the resource base. The securing of funding from the IPO for ongoing exploration activities has ensured that the Company can continue developing the project with the aim of establishing FNR’s first operational mine.

Conclusion

The results from the 2024 drilling campaign have provided valuable new data, confirmed the presence of high-grade gold mineralization and enhanced the Company’s resource model. FNR will continue to focus on exploration at the Empire Project, with the goal of moving toward full feasibility and mining operations in the coming years.


Click here for the full ASX Release

This article includes content from Far Northern Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

FNR:AU
Far Northern Resources

Far Northern Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Far Northern Resources

Far Northern Resources


Keep reading...Show less

Australia-based gold and copper explorer

AGNICO EAGLE ANNOUNCES INVESTMENT IN RUPERT RESOURCES LTD.

AGNICO EAGLE ANNOUNCES INVESTMENT IN RUPERT RESOURCES LTD.

Agnico Eagle Mines Limited logo (CNW Group/Agnico Eagle Mines Limited)

Stock Symbol: AEM (NYSE and TSX)

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
North Bay Resources Announces Discovery of Mass Tonnage Gold Deposit up to 149m  Grading 0.95 g/t Au, Fran Gold Project, British Columbia

North Bay Resources Announces Discovery of Mass Tonnage Gold Deposit up to 149m Grading 0.95 g/t Au, Fran Gold Project, British Columbia

North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce analyses and compilation of prior exploration work at the Fran Gold Project has resulted in the discovery of a mass tonnage gold deposit. This includes review of diamond drilling in 2001, 2005, 2006, 2012, and 2018 as well as geochemical, geophysical and 3D modelling data. Past exploration and development, including over 18,000m (55,000ft.) of diamond drilling, has shown very large intercepts of up to 149m (489 feet) of 0.95 gram per ton gold. The deposit area has been identified to be in excess of 1000m x 100m x 300m within a known strike length of 1700m. This represents an exploration potential of 79,500,000 tonnes at a specific gravity of 2.65. At an average grade of 0.8 grams per tonne the current potential is 2M ounces. There is sufficient data to immediately proceed with a NI 43-101 Compliant Mineral Resource Estimate . The Fran Gold Project is next to Centerra Gold's (TSX:CG) Mt. Milligan Project, with Reserves of 264Mt grading 0.3 gram per tonne gold and 0.2% copper and proximate to Artemis Gold's (TSXV:ARTG) Blackwater Mine, with Proven and Probable Reserves of 334Mt grading 0.8 grams per tonne gold. Both Mt. Milligan and the Blackwater Mine are two of the largest new mines in North America in the modern era. The Blackwater Mine has a Measured and Indicated Resource in excess of 10M ounces of gold.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
B2Gold Announces TSX Approval for Normal Course Issuer Bid

B2Gold Announces TSX Approval for Normal Course Issuer Bid

B2Gold Corp. (TSX: BTO) (NYSE American: BTG) (" B2Gold " or the " Company ") announces that, further to the press release of the Company dated January 13, 2025 (the " Announcement PR "), the Toronto Stock Exchange (the " TSX ") has accepted the notice of B2Gold's intention to implement a normal course issuer bid (the " NCIB ").

The Company's decision to approve the NCIB is consistent with its amended shareholder return strategy outlined in the Announcement PR, and reflective of the Company's belief that the market may undervalue the common shares of B2Gold (the " Shares ") from time to time and that the Shares may trade in a price range which may not adequately reflect the value of the Shares in relation to the business, assets, and prospects of B2Gold from time to time and that purchases of Shares pursuant to the NCIB may represent an appropriate and desirable use of the Company's capital.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gold coin stacks with up arrow.

Gold Price Hits New Record, Breaking US$3,100 for First Time

The gold price reached yet another record high on Monday (March 31), breaking US$3,100 per ounce.

The precious metal has gained significant momentum since the beginning of the year. In morning trading on Monday it surged past the US$3,100 mark, climbing as high as US$3,124.96.

Monday's rise precedes US President Donald Trump's planned retaliatory tariffs, which are set to come into effect on Wednesday (April 2). The new round is aimed at countries that have placed tariffs on US goods.

Keep reading...Show less

Freeport Provides First-Quarter 2025 Operational Update

  • First-quarter 2025 copper and gold production approximated expectations
  • Timing of shipments in Indonesia impacted first-quarter 2025 gold sales
  • No material impact expected on annual consolidated sales guidance
  • Realized first quarter 2025 prices for copper reflect higher prices on U.S. sales

Freeport (NYSE: FCX) today provided an update on its first-quarter operating results.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Far Northern Resources

Far Northern Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×