Far Northern Resources (ASX:FNR)

The Empire Projects / Chillagoe North Queensland

Far Northern Resources (ASX:FNR) (FNR or the Company) is pleased to report that a recent targeted drilling program at the Empire Mining Lease confirmed the presence of a zone in the primary vein at the northern end of the Empire Stockworks consisting of a high-grade gold zone (>3 g/t Au refer to Figure 1). The zone is within the greater Empire Stockworks gold system, with mineralisation open at depth and along strike.


Highlights

  • FNR has recently completed a small RC drilling program at the Empire gold deposit. The program was designed to update and infill the 2020 resource model (see pp 28 to 36 of the Company’s Prospectus lodged with ASX on 10 April 2024 and provide a potential starting point for future mining operations.
  • Assays from all 6 drill holes intercepted the high-grade quartz veins that formed the basis of the previous modeling.

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 results will provide further data to the known resources at the Empire Stockwork. and an updated model. This will enable FNR to update the resource and economic modelling at the current gold prices, with a view to moving into future feasibility studies
  • FNR is in a unique position with a mill located less than 20km away from the current mining lease.
  • FNR will continue to advance the project.

Table 1 FNR Mineral Resources (see FNR Prospectus lodged 10 April 2024)All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding

Figure 1:3D View of Empire Stockworks Block Model

Commenting on the initial assays results the board of Far Northern Resources Ltd, said.

“We are pleased with the assays from the Mining Lease as it will add critical data to the resource model at Empire that is open at depth and in all directions. FNR has been exploring this area for some time and it is pleasing to release some very exciting new gold results from our 2024 drilling campaign that clearly show there is a much bigger picture at play at our Empire Project. We are excited to now have the funding to continue to drill out and model what has the potential to be FNR’s first mine.”


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
The Conversation (0)
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×