Far East Gold Expands Exploration Efforts and Strengthens Position with Strategic Investment

April 29, 2025 11:34 AM AEST | By Team Kalkine Media

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Far East Gold Expands Exploration Efforts and Strengthens Position with Strategic Investment — Image source: shutterstock

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Highlights

Far East Gold progresses major drilling programs in Indonesia and Australia

Strategic investment boosts cash reserves to support future exploration

New discoveries and resource expansions drive long-term project growth

Far East Gold Ltd (ASX:FEG) has delivered notable progress across its Indonesian and Australian exploration portfolio during the March 2025 quarter, while also finalising a major strategic investment. The company’s strong cash position of A$12.6 million, up from A$10.4 million in the previous quarter, underpins its robust exploration agenda, providing an estimated funding runway of nearly five quarters.

In Indonesia, significant groundwork was laid for the upcoming drilling campaign at the flagship Idenburg Gold Project. Located within a 95,280-hectare Contract of Work in West Papua Province, Idenburg is in a region renowned for world-class gold and copper deposits. A 3,670-metre, 32-hole diamond drill program is set to expand the JORC-compliant inferred resource of 540,000 ounces of gold at a high grade of 4.1 g/t. Surface exploration also uncovered the promising East Bermol zone, while further structural evaluation work aims to refine future drill targeting.

Meanwhile, preparations are underway at the Woyla Copper-Gold Project, where Far East Gold holds a 51% interest (increasing to 80% post-feasibility study). A five-hole scout drilling program at Kareung Reuboeh will test high-grade gold veins identified through mapping and surface sampling. Further south, at the Trenggalek Copper-Gold Project in Central Java, an ambitious 5,740-metre Phase 1 drilling campaign is planned across porphyry and epithermal targets, with community engagement progressing positively.

In Australia, Far East Gold has retained a 90% interest in its Hill212, Blue Hill Creek, and Mount Clark West projects. Although limited fieldwork was undertaken at Hill212 and Blue Hill Creek, preparations for ground activities continued at Mount Clark West, alongside an application for grant funding under Queensland’s Collaborative Exploration Initiative.

A major corporate milestone was achieved with the receipt of A$4.78 million from Xingye Gold Hong Kong Mining Company, completing a strategic investment totalling A$14.67 million at a premium price. This investment secures Xingye a 19.99% stake in Far East Gold and reinforces the company’s capacity to advance its exploration programs efficiently.

Additionally, the company strengthened its leadership team with the appointment of Monique Tang as a non-executive Director, enhancing international business engagement capabilities.

Far East Gold’s focused approach to expanding its resource base and building strong strategic partnerships positions it strongly for future growth in key global mining jurisdictions.

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