Far East Gold (ASX: FEG) Prepares for Drilling at Idenburg and Trenggalek Projects

Highlights

• Far East Gold is advancing preparations for a near-term drilling campaign at its Idenburg project, aiming to expand its current JORC Resource of 540,000oz at 4.1 g/t gold.
• The drill rig has arrived on site, with drilling operations scheduled to commence by the end of May 2025.
• The company has secured social license approvals and finalised plans for Phase 1 drilling at the Trenggalek Project.
• Strategic partner Xingye Gold Hong Kong Mining Company has invested AUD 4.7 million, increasing its total stake in Far East Gold to 19.99%.
• In April, the company discovered a new quartz vein zone near the Bermol prospect at Idenburg, with surface grab samples returning high-grade gold assays of up to 53 g/t.

Far East Gold Ltd (ASX:FEG) advanced exploration activities across its Indonesian and Australian projects during the March 2025 quarter.

At its flagship Idenburg project in Papua, Indonesia, the company focused on preparations for an upcoming drilling campaign in collaboration with strategic partners. The primary objective is to expand the current JORC-compliant Inferred Resource of 540,000 ounces of gold at 4.1 g/t, which is based on just three of the fifteen known prospects within the tenement.

Additionally, progress was reported at the Trenggalek project in East Java, Indonesia, where the company has secured key social license approvals and finalised plans for Phase 1 drilling to test multiple porphyry and epithermal systems.

Drilling is anticipated to begin in the second and third quarters of 2025.

Preparations Underway for Drilling at Idenburg

The Idenburg Project, which currently holds a JORC-compliant Inferred Resource of 540,000 ounces of gold at 4.1 g/t, remains the cornerstone of FEG’s exploration focus.

Key developments at Idenburg during the quarter include:

• A drill rig was shipped and mobilised to site. Drilling is planned to begin by the end of May.
• Strategic investor Xingye Gold Hong Kong Mining Company invested a further AUD 4.78 million in Far East Gold. It summed up the total contribution to AUD 14.67mn, to acquire a 19.99% stake in FEG.
• Far East Gold developed exploration and drill plans for Idenburg. Spanning 3,670m, the 32-hole diamond drill program is intended to build upon the reported 540,000oz @ 4.1 g/t JORC-compliant inferred gold resource.

A detailed structural evaluation of the Idenburg Contract of Work (CoW), by Murphy Geological Services was initiated. The work will delineate the principle structural features regionally and within the CoW. It will also identify controls to gold mineralisation that can be targeted as part of future expanded drilling to support the company’s intentions to build upon the Maiden JORC Resource.

Trenggalek Project Set for Phase 1 Drilling

The company has advanced preparations for drilling at its Trenggalek Project. The company has outlined an 18-hole, 5,740m drilling program aimed to test three copper porphyry targets and one gold epithermal prospect area.

New High-Grade Quartz Vein Discovery

Following the quarter end, in April, Far East Gold announced the discovery of a new quartz vein zone located approximately 1.2km east of the Bermol prospect at the Idenburg project, where surface grab samples returned high-grade gold assays of up to 53 g/t Au. This find highlighted the potential for further high-grade mineralisation beyond currently defined areas.

Far East Gold continues to strengthen its exploration and development footprint in both Indonesia and Australia. With drilling about to commence at Idenburg and Trenggalek, the company is positioned to deliver significant news flow in the coming quarters.

FEG shares last traded at AUD 0.15 on 01 May 2025.