Far East Gold (ASX: FEG) reports geophysical consultants Geophysical Resources & Services (GRS) have recently completed field works for a deep ground penetrating geophysics survey at the Mount Clark West Copper-Gold Project, Queensland.
The company has also recently received assay results for an additional 214 soil samples collected from the southern part of the tenement.
On 22 August 2022 the company’s consultants GRS completed a MIMDAS Induced Polarisation (IP) survey at the Mount Clark West Project. The MIMDAS (MIM Distributed Acquisition System) survey comprised a total of 8 lines for a total of 21-line kilometres at 400m spacing.
Soil samples were taken to further define geochemical zonation within the targeted mineral system and to aid in the interpretation of the processed MIMDAS survey results when received.
Soil samples were taken to further define geochemical zonation within the targeted mineral system and to aid in the interpretation of the processed MIMDAS survey results
Far East notes that the assay results define distinct anomalous zones consistent with elemental zonation typical of mineralised porphyry systems. This supports the company’s interpretation that the Mount Clark West tenement contains a substantial buried Copper-gold-molybdenum porphyry deposit.
The company reports that northern anomalies were tested by four previous drillholes, MCDD 001-004. MCDD002 intersected 104m of 0.1% Cu including 14m @ 0.23% Cu from 180m downhole that intersected a quartz stockwork one with sericite alteration.
Alteration is dominantly phyllic with minor potassic, argillic and propylitic zones observed.
The dominant sulphide species observed was pyrite (~5%) with minor amounts (<1%) of copper sulphides. The dominant lithology intersected is basaltic andesite and andesitic volcaniclastic (country rock or host material).
Copper was intersected in MCDD002, with 104 m of 0.1% Cu from 114 m, including 22.92 m at 0.1% Cu from 110.42 m, 25.32 m at 0.13% Cu from 154.65, 14 m at 0.23% Cu from 180m and 42 m at 0.1% Cu from 194 m.
The hole also intersected a diorite porphyry intrusive from surface which contained 2 narrow zones of molybdenum mineralisation of 5.25m of 182 ppm Mo and another of 1m of 346ppm Mo.
MIMDAS is an advanced electrical geophysical technique which collects multiple geophysical datasets, including Chargeability (IP), Resistivity/Conductivity (IP and MT). It is an established method for detecting concentrations of conductive sulphide minerals found within porphyry systems.
Far East Gold carried out the MIMDAS survey to test the distinct magnetic anomaly situated in the southern part of the tenement located adjacent to the previous IP survey and drilling activities completed on the project.
The MIMDAS survey will provide Far East Gold with a better understanding of the size and nature of the identified magnetic anomaly and assist in defining specific drill targets.
The survey provided geophysical data readings on the tenement to depths of greater than 700m. Processing of results from the data acquired during the MIMDAS survey is currently being undertaken by Southern Geoscience Consultants (SGC) who also provided QC checks of raw data collected during the survey.
The company expects that SGC will provide processed results from the survey including a 3D Inversion Model within 4 weeks.
The Mount Clark West Copper Gold Project consists of one tenement (EPM 26008), which covers an area of about 1,912 hectares.
The project is located in central Queensland and is situated on the geological boundary of the Connors Arc Carboniferous volcanic rocks to the east (as local basement) with the overlying Bowen Basin Permo-Triassic sediments to the west.
The Connors Arc is known to be prospective for, and host to large (>1Moz) epithermal-type gold -silver deposits including the high-sulphidation type Mt. Carlton deposit to the north and the low-sulphidation type Cracow deposit to the south.
The district has not been effectively explored for associated porphyry-type copper-gold mineralisation which is the focus of the company’s exploration efforts.
Far East Gold is an ASX-listed copper-gold exploration company with six advanced projects in Australia and Indonesia. The company has a 90% interest in the Mount Clark West Project by way of an up-front earn in agreement.
Images: Far East Gold Ltd
