Far East Gold (ASX:FEG) Unveils Exploration Potential with New Drilling at Idenburg

Highlights

• Drilling commenced at the Bermol prospect within the Idenburg Project in June.
• All drill holes intersected shear zones with quartz veins and sulphide minerals.
• The Bermol prosoect was prioritised for drilling due to historical high-grade intercepts and expansion potential over a 4km corridor.
• Quartz vein zones were identified at East Bermol with grab samples assaying up to 8.43 g/t gold and 31.9 g/t silver.
• An independent assessment estimated Idenburg’s exploration potential at up to 7.2 Moz at 6.1 g/t gold.
• The Bermol Prospect currently has a JORC inferred resource of 228,000 oz at 4.8 g/t.

Far East Gold Ltd (ASX:FEG) has provided an update on the exploration and development activities across its Indonesian and Australian assets for the quarter ended 30 June 2025. The company’s focus remained on advancing its Idenburg Gold Project in Papua Province, Indonesia.

Drilling Advances at Idenburg's Bermol Prospect

In June, FEG commenced drilling at the Bermol prospect within the Idenburg Contract of Work (CoW) in Papua Province, Indonesia. By the end of the quarter, the company had completed six holes, covering 722.9m. Each hole intersected a broad shear and fault-related deformation zone containing quartz veins and sulphide minerals such as pyrite and arsenopyrite.

These results align with historic exploration reports, reaffirming the lateral continuity of the mineralised shear zone.

Bermol Chosen as Priority Prospect

The Idenburg Project spans 95,280 hectares in a region that hosts world-class gold-copper deposits such as Grasberg, Porgera, and Ok Tedi. Despite its scale, only 30% of the CoW has been systematically explored.

Bermol is the first of four priority prospects—alongside Sua, Kwaplu, and Mafi—earmarked for drilling in 2025. The prospect was selected based on the historical high-grade gold intercepts and its potential for resource expansion along a 4km corridor to North Bermol. Previously reported assays from grab samples from the area have returned grades of up to 53 g/t gold.

Additionally, detailed geological mapping identified a new quartz vein zone at East Bermol. Grab sample assays returned up to 8.43 g/t gold and 31.9 g/t silver from a 5m broad quart zone that was mapped at surface over a 15km strike length.

Resource Exploration Strategy

An independent Exploration Target Assessment by SMGC has outlined a potential upper-range exploration target of 7.2 million ounces at 6.1 g/t gold for the Idenburg Project. Within this, the Bermol prospect was estimated to host between 56,000 ounces at 2.0 g/t gold (lower range) and up to 1.8 million ounces at 10.0 g/t gold (upper range). Currently, Bermol holds an inferred JORC Resource Estimate of 228,000 ounces at 4.8 g/t gold.

The company plans to complete a 20 hole, 2,670m Phase 1 drill campaign in 2025 across the Sua, Bermol, Kwaplu, and Mafi prospects. Notably, the Kwaplu area (12 holes are planned) will be drill-tested for the first time, targeting a large gold-in-soil anomaly.

The planned drilling will target defined zones along strike and at depth, aiming to expand the current inferred resource areas within the identified prospects. Additionally, several infill holes are designed to upgrade the resource classification to indicated and measured categories.

These drill holes will also yield composite samples for advanced metallurgical testing to enhance understanding of mineral recovery characteristics.

UAV Survey and Structural Insights to Refine Targets

A LiDAR and UAV magnetic survey is scheduled to be conducted across a 4km northeast-trending structural corridor connecting Bermol and North Bermol. The survey will help define structural extensions of shear-hosted mineralisation intersected at Bermol and prioritise drill targets within this underexplored zone.

Complementing this effort, a detailed structural interpretation report received from Murphy Geological Services has outlined several key geological features within the Idenburg CoW. These insights will be instrumental in guiding future drill campaigns and unlocking new discovery opportunities.

FEG shares were trading at AUD 0.175 per share at the time of writing on 30 July 2025.