Far East Gold (ASX:FEG) Lifts Idenburg Resource By 44% To 780,000 Ounces

Highlights

• Far East Gold has expanded its Idenburg Mineral Resource Estimate to 780,000 ounces of gold.
• The updated estimate increased by 240,000 ounces or 44% compared to the initial resource.
• Resource growth spans four prospect areas including Sua and North Bermol.
• Only a fraction of identified targets has been drill-tested across the project area.
• A scoping study is underway to assess potential development pathways.

Far East Gold Limited (ASX:FEG) has reported an updated Mineral Resource Estimate (MRE) at its Idenburg Gold Project, marking a notable increase in contained gold and bringing fresh focus to the project’s scale. The revised estimate introduces a broader view of the asset’s potential, with exploration outcomes translating into measurable resource growth.

The updated Independent Inferred JORC Mineral Resource now stands at 7.8 million tonnes at an average grade of 3.1 grams per tonne gold, equating to 780,000 ounces. This reflects an increase of approximately 240,000 ounces or 44% from the previous estimate of 540,000 ounces, indicating a material uplift in the project’s gold inventory.

FEG’s Chief Executive Officer Shane Menere stated that the updated Mineral Resource represented a defining milestone for the Idenburg Gold Project and signalled Far East Gold’s transition from exploration into project development.

Growth Across Multiple Prospects

The revised resource incorporates mineralisation across four distinct prospect areas within the Idenburg Project. These include an upgraded estimate at the Sua prospect, a maiden resource at North Bermol, and previously defined resources at Bermol and Mafi.

The update highlights that exploration efforts have only covered a limited portion of the broader project area. Of the 15 identified prospect areas, just four have undergone drilling to date. The remaining zones, identified through historical exploration, remain largely untested, suggesting further exploration potential within the project boundary.

In addition, the company has identified 15 high-priority structural targets requiring further mapping and evaluation, reinforcing the scope for additional discoveries.

Exploration Strategy Validated

The updated resource estimates align with earlier exploration targets outlined in prior technical reports. This consistency between expected and realised outcomes reflects the company’s geological modelling approach and systematic exploration program.

The results across the four prospects provide continuity with previously defined targets, supporting confidence in the underlying resource framework and guiding future exploration activities.

Development Pathway in Progress

Alongside exploration activities, the company has initiated a scoping study to assess the development potential of the Idenburg Project. This study, being conducted by Mining One Consultants in Jakarta, is expected to evaluate the viability of advancing the project based on current inferred resources.

Parallel to technical assessments, the company is progressing work aimed at moving toward feasibility-level studies in Indonesia. This includes aligning development planning with contractual pathways related to project ownership and long-term operational clarity.

Location and Infrastructure Advantage

The Idenburg Project is located in Papua, within the Keerom and Pegunungan Bintang Regencies, near the border with Papua New Guinea. The project benefits from access to the Trans Irian Highway, an all-weather asphalted road connecting the site to the regional capital, Jayapura.

This infrastructure access supports logistical efficiency and cost considerations, particularly when compared to other mining operations within the region.

Future Exploration Plans

The company has outlined a series of exploration initiatives aimed at expanding the current resource base. Planned activities include regional reconnaissance programs, reinterpretation of geological data, and both infill and step-out drilling across existing and new targets.

Exploration efforts will focus on key structural zones such as the Mafi River Thrust Fault and the Sua-Afley Shear Zone, while also targeting extensions in areas like Kali Kae, Tekai, Kimly, and North Bermol.

Additional work is expected to include metallurgical sampling, geophysical surveys, and analysis of pathfinder elements to refine targeting strategies. The company is currently finalising budgets to support these programs.

Shares of FEG traded at AUD 0.13, up around 4%, at the time of writing on 05 May 2026.