Highlights

• FEG has discovered high-grade quartz veins at the Idenburg project, with gold assays up to 53 g/t.
• Significant results include 19.31 g/t Au, 16.75 g/t Au, and 8.43 g/t Au from the North Bermol and Bermol prospects.
• New quartz vein zone east of Bermol shows gold assays up to 8.43 g/t and silver assays up to 31.9 g/t.
• A 3,670m, 32-hole diamond drilling program is set to commence, focusing on these zones.
• The drilling aims to expand the maiden JORC inferred resource, currently estimated at 540,000 oz gold @ 4.1 g/t and 468,000 oz silver @ 3.6 g/t.

Far East Gold (ASX:FEG) has discovered a new high-grade gold zone of quartz veins at its Idenburg project, located near the Bermol prospect. Surface grab samples have returned gold assay results of up to 53 g/t, with standout results including 19.31 g/t Au, 16.75 g/t Au, 10.18 g/t Au, and 8.43 g/t Au from quartz veins at the North Bermol and Bermol prospects. Sample assays from the Mafi prospect have also returned up to 6.45 g/t Au.

The newly discovered quartz vein zone, located to the east of Bermol, yielded gold assays of up to 8.43 g/t and silver assays of up to 31.9 g/t from a 5m-wide surface vein. The results not only confirm historical exploration results but also highlight the resource expansion potential in each of the prospect areas.

Far East Gold plans to launch a Phase 1 diamond drilling campaign focused on these targets, comprising 32 drill holes over a total of 3,670m. The program aims to increase the maiden JORC inferred mineral resource, which is currently estimated at 540,000 ounces of gold at 4.1 g/t and 468,000 ounces of silver at 3.6 g/t.

Detailed Mapping Results

Image source: Company update

Ahead of its planned drilling program, the company has launched a detailed mapping campaign to refine drill sites and evaluate areas beyond the existing prospects. This will help identify new mineralised zones that could be targeted in future drilling.

To date, previous exploration has covered only approximately 30% of the total CoW (Contract of Work) area, leaving a significant portion of the tenement underexplored and offering significant potential for resource expansion.

The results of the mapping program have confirmed the presence of high-grade gold mineralisation. The company will continue its detailed mapping and rock sampling activities with the aim to delineate extensions of known gold mineralisation and identify new gold-bearing zones across the broader project area.

FEG shares traded at AU$0.13 per share at the time of writing on 9 April 2025, up over 8% from the last close.