Far East Gold (ASX:FEG) has mobilised a drill rig to start a new phase of scout drilling at its Woyla Copper Gold Project in addition to the extension of resource delineation drilling at Rek Rinti.
This new phase of scout drilling is being carried out at the Victory vein at the ‘highly prospective’ and previously undrilled Aloe Rek prospect area.
ar East Gold CEO Shane Menere says the company is ‘extremely excited’ at the prospect of drills turning at Aloe Rek.
“This milestone will be yet another remarkable first for us at Woyla. It is incredible to think it is nearly 27 years to the day from when Barrick had hoped to commence drilling at its priority target, Aloe Rek and that Far East Gold will make this happen.
Our decision to commence this new phase of scout drilling was made based upon the excellent exploration results to date and gives us economies of scale to leverage the resources still on-site working on the extended resource delineation program at Rek Rinti.”
Far East Gold is an ASX-listed copper and gold exploration company with 6 advanced projects in Australia and Indonesia. Its Woyla Copper Gold Project is a 24,260ha 6th generation contract of work located in the Aceh region of North Sumatra, Indonesia.
The company holds a 51% interest in the project that will increase to 80% upon the company’s completion of a feasibility study and definition of a maiden JORC resource estimate for the project.
Write to Adam Orlando at Mining.com.au
Images: Far East Gold