Woyla Project Update: Phase 2 Drill Program Overview And New Vein Discoveries

Far East Gold Limited (ASX:FEG or the Company) is pleased to announce a detailed overview of the Company’s Phase 2 drill program at its Woyla project. It is the Company’s plan for three diamond drills to be used to complete a combined 10,000m program. The Phase 2 drill program will include detailed resource delineation drilling within the Agam vein at the Rek Rinti prospect area and continue with the scout drill program testing defined vein targets at the Anak Perak, Rek Rinti, and Aloe Eumpeuk prospect areas.

In conjunction with the Phase 2 drill program the Company also continues to expand its surface mapping and sampling exploration of the Woyla project’s four defined epithermal prospect areas. The Company is excited to announce that recent mapping has resulted in the discovery of two new quartz veins within the Woyla Project area.

One of these quartz veins is located approximately 200m northwest of the Rek Rinti prospect area where detailed mapping has confirmed the vein occurrence in an artisanal mining pit. The vein is interpreted to be part of the Rek Rinti vein system where bonanza grade gold and silver was intersected during the Company’s highly successful Phase 1 drill program (see: Woyla Project Update 2 Feb 2023). The Company expects additional new vein discoveries within the Rek Rinti as the program of detailed surface mapping proceeds.

The second new vein discovery identified as ‘Aloe Kamara’ is located approximately 3km southeast of Rek Rinti and opens a potential new fifth epithermal prospect area within the project for detailed exploration and drill testing.

Rek Rinti Vein Discovery

• The new quartz vein is situated adjacent to the northeast extent of a 1.8km long IP resistivity anomaly zone interpreted from the IP survey completed in 2022 (Figure 1). The vein is characterized by crystalline, massive quartz with minor chalcedonic bands. Assays results are pending for samples from the new vein.

Aloe Kamara Vein Discovery

• The new vein is located south-east of the Rek Rinti prospect area (Figure 1) and located within the permitted PIPPIB area, which allows the Company to explore this area immediately.
• Initial mapping indicates the quartz vein to be about 10 meters wide. The vein is characterized by massive crystalline quartz and local breccia that contains coarse blebs of galena and sphalerite up to 10% with pyrite. The vein appears to have an east - west strike and dip to the north. Assays results are pending for samples from the new vein.

Figure 1: Eastern part of the Woyla Property area showing new quartz vein discoveries at the Rek Rinti and Aloe Kamara prospect areas. The area included under the PIPPIB permit is also indicated. The Aloe Kamara vein appears to be inside the PIPPIB area and part of it appears to also extend outside

Figure 2: Rek Rinti prospect area showing the new quartz vein occurrence to northwest of defined quartz veins and area of Phase 1 scout drilling. The occurrence lies adjacent to the northeastern extent of a zone of high IP resistivity as interpreted from the 2022 IP survey completed at Woyla.

WOYLA PHASE 2 DRILL PROGRAM OVERVIEW

Objectives

• Two drill rigs will assess the resource potential of the Agam vein at Rek Rinti, as follow-up to significant Au-Ag mineralization intersected in RRD004 and RRD007. A block of approximately 500m long X 150m wide X 150m deep along the Agam and Pertama veins is planned to be drilled along 11, 50m spaced drill sections. Approximately 5,000m of drilling is planned for this program which should be completed early Q2, 2023.
  
• A 5,000m scout drill program is also planned to be completed. This includes a 4-6 hole (~1,200m) drill program to test defined target areas within the Anak Perak prospect. Upon completion of the drill program at Anak Perak, the drill will be moved to Rek Rinti to continue testing defined vein targets as part of the scout drill program. Drill targets include untested veins and follow-up to intervals of significant Au-Ag mineralization intersected during the Phase 1 drill program. One drill will be used for this program.
• The scout drill program will also test new target areas starting with the Aloe Eumpuek prospect area south of Rek Rinti. Previous surface rock sampling has returned high-grade Au-Ag assays from samples of ginguro-banded quartz vein rubble. This prospect area has not yet been drill tested.

Click here for the full ASX Release

This article includes content from Far East Gold, 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.