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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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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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