Far Northern Resources (ASX:FNR) has returned 1m assay results from phase two of drilling at the Bridge Creek Project in the Northern Territory, indicating extensions to the north, south, and down dip of known mineralisation.
The northern extension has returned 1m @ 1.97 grams per tonne from 53m; 2m @ 0.99g/t gold from 57m; 1m @ 2.64g/t gold from 62m; and 2m @ 3.1g/t gold from 33m.
The primary ore zone returned assays down dip, including 2m @ 0.83g/t gold from 45m; 8m @ 0.54g/t gold from 155m; and 6m @ 1.31g/t gold. The southern extension, located 720m from the current resource area, returned assays including 7m @ 1.04g/t gold from 10m and 2m @ 0.88g/t gold from 31m.
Infill drilling also returned 1m @ 5.17g/t gold from 15m; 2m @ 1.43g/t gold from 18m; and 4m @ 1.07g/t gold from 27m.
The company drilled its first deep holes under the known ore body in this campaign, returning a primary south-dipping load 75m below the known resource block.
Far Northern says the hole drilled was a follow up to test the three historical diamond holes, reported in the 1990s.
Managing Director Cameron Woodrow says the drilling campaign has returned “significant gold grades”.
“The RC drilling results have extended mineralisation below the current ore body to the north and some 750m to the south,” Woodrow says.
Far Northern will evaluate drilling data to determine which previous exclusions can be reintroduced to the model, including drill holes in the current resource area and the southern part of the project.
The company will also focus on the geological interpretation and wireframing of the project, updating the resource model, conduct resource optimisation study work, metallurgical and geotechnical drilling, and targeted extension and infill drilling.
Based in Brisbane, Far Northern Resources is a gold and base metals explorer with three projects spanning the Northern Territory and Queensland.
The company describes both the Bridge Creek Project and the Empire Project, which is located in North Queensland, to have potential for near-term production.
Far Northern Resources has been listed on the Australian Securities Exchange since April 2024 and has a market capitalisation of $12.14 million.
Write to Maddison Elliott at Mining.com.au
Images: Far Northern Resources
