Exploration company Far East Gold (ASX:FEG) is continuing to drill test vein systems at its Aloe Eumpeuk and Rek Rinti prospects within the Woyla Project in Indonesia.
The company says it will be beginning a detailed UAV magnetic survey over the Rek Rinti prospect area to better define the structural framework hosting the vein and the potential secondary structures that appear to control the ‘high-grade’ gold-silver mineralisation as seen in the Agam vein zone.
Commenting on the ongoing activities, Far East Gold Chief Executive Officer (CEO) Shane Menere says: “The results from recent mapping serve to indicate that there are still plenty of significant discoveries to be made within the Woyla Project.
“There is plenty of exploration ahead of us”
The company will continue to identify drill targets and quickly test them. There is plenty of exploration ahead of us.”
Far East Gold’s share price has increased by 11.67% to $0.34 as of 12:39m AEST.
Today’s news comes after the company reported that its recent detailed mapping and surface rock sampling confirmed the occurrences of ‘high-grade’ quartz veins south of the Aloe Eumpeuk prospect.
The mapping and rock sampling uncovered 2 quartz veins from which assay results indicated ‘significant’ gold concentration.
Far East Gold reports the veins are 1m and 3m in width within the same interpreted structural corridor that hosts the ‘high-grade’ Aloe Eumpeuk and Aloe Rek quartz vein systems.
Additionally, 2 samples of quartz stockwork veins in solicited andesite wallrock, in contact with the 3m-wide vein, returned grades of 28.4g/t Au, 8.5g/t Ag, and 58g/t Au, 27.3g/t Ag.
Far East Gold is a copper and gold exploration company focused on its 6 advanced projects in Australia and Indonesia. The company’s Woyla Copper-Gold Project is a 24,260-hectare Contract of Work located in the Aceh region of North Sumatra, Indonesia.
Images: Far East Gold Ltd
