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Highlights
- Far East Gold is advancing the Scoping Study for its Idenburg Gold Project, targeting a potential feasibility study by late 2026.
- Mining One Consultants is evaluating staged development options, including mine design, infrastructure, operating costs, tailings management and permitting pathways.
- The latest JORC Mineral Resource estimate increased by 44% to 780,000 ounces of gold grading 3.1 g/t Au.
- A new drilling campaign at the Sua prospect is expected to support resource expansion, conversion and mine planning.
- The Idenburg Project currently covers only four of fifteen identified historical prospect areas, highlighting broader exploration upside.
Far East Gold Limited (ASX:FEG) has reported significant progress on the Scoping Study for its flagship Idenburg Gold Project in Papua Province, Indonesia, while preparing to launch a new development-focused drilling campaign at the Sua prospect.
The study, conducted by Mining One Consultants, is evaluating possible mine development options at the project as the company progresses its assessment of a potential Indonesian Feasibility Study, which is targeted for late 2026.
Scoping Study Examines Development Pathways
The Scoping Study is evaluating potential early development scenarios for the Idenburg Project, including staged development approaches. The assessment covers areas such as mine design, infrastructure requirements, operating and capital costs, tailings management and permitting pathways.
The company stated that the study is intended to assess long-term development scenarios while also considering possible start-up development strategies. The company noted that the assessment remains at an early-stage evaluation, and there is no certainty that it will result in a viable mining outcome.
Development-Focused Drilling Program to Begin
The next phase of drilling at the Sua prospect is planned to support the Scoping Study, economic modelling, mine planning, and resource confidence improvements as part of the company’s assessment of a potential Indonesian Feasibility Study.
The program is expected to focus on both resource expansion and resource conversion, with the aim of upgrading the existing Inferred Resource to possible Indicated and Measured classifications. Furthermore, the campaign is expected to support future mine optimisation studies.
Mineral Resource Expands by 44%
The latest JORC-compliant Mineral Resource Estimate for Idenburg increased by 44% to 780,000 ounces of gold grading 3.1 g/t Au, following recent exploration drilling programs. The estimate currently covers only four of the project’s fifteen identified historical prospect areas, highlighting further exploration potential across the broader landholding.
The Idenburg Project spans approximately 95,280 hectares under a sixth-generation Contract of Work and is situated within one of the world’s major gold and copper regions. The project is located near multiple large-scale mining operations including the Grasberg Mine, Porgera Gold Mine, Frieda River and Ok Tedi Mine.
FEG shares traded at AUD 0.10 per share on 14 May 2026.
