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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.
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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.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
