Mining Directory

Far East Gold (ASX: FEG) has achieved the first success of its maiden diamond drill program aimed at testing the resource potential of the Anak Perak epithermal vein system of the Woyla copper-gold project in Indonesia.

The first two holes of the planned 18-hole program at Woyla have been completed, and have intercepted the quartz vein of the Anak Perak Main Zone.

For the first time in its history, the Woyla copper-gold project can now be drilled over its entire strike length after the Indonesian Government, earlier this month, issued a decree which allows drilling of the entire 13,000m of defined strike – something previous explorers had never managed to achieve.

As a result of the decree, Far East can now drill in the forest-designated section of the project.

The company says it is encouraged by initial observations of the core samples from the first two holes, which were testing the Anak Perak vein between 50m and 100m vertical depth from surface.

Similar signs as other high-grade epithermal deposits

The drill core contained dark grey sulphide-rich zones and other geological indicators of mineralisation.

These included ginguro banding, the significance of which is that it is a common feature with epithermal vein deposits, such as Gosowong in Indonesia, previously owned by Newcrest Mining (ASX: NCM), and Hishikari in Japan owned by Sumitomo Metal Mining.

Gosowong contained 6 million ounces of gold and grades between 20 grams per tonne and 40g/t, while Hishikari has 8Moz at between 30-40gt.

Woyla is located in the Aceh region at the northern tip of Sumatra and covers 24,260 hectares.

In Far East’s opinion Woyla “is one of the most highly prospective, undrilled copper gold projects in South East Asia.”

Far East holds a 51% stake in Woyla, which will increase to 80% upon completion of the feasibility statement and definition of a maiden JORC resource estimate.

A second drill rig is now on site.

Source: https://smallcaps.com.au/far-east-gold-intercepts-quartz-vein-woyla-project-indonesia/