Indonesian officials have identified the Trenggalek project in East Java as one of the top three priority greenfield gold targets. Recently, Far East Gold (ASX: FEG) finalized the acquisition of Trenggalek, taking ownership of the project. The 12,813-hectare mining permitted tenement has excellent prospects for epithermal and porphyry-related gold and base metal deposits.
Significant exploration work has already been carried out at the project, including 17,786 meters of drilling, 3.675 kilometers of airborne surveys, surface geochemistry samples, and geophysics surveys. Situated within the Sunda-Banda Arc, which is renowned for world-class mineral deposits, Trenggalek adds to the belt's significance.
The acquisition of Trenggalek was a major step for Far East Gold, as the project has advanced status with a valid mining license until June 2029, extendable for another 20 years. The company still has outstanding payments of $575,000 to the vendors.
CEO Shane Menere expressed excitement about the project's potential, citing its remarkable prospectivity and advanced development status. Four priority targets have been identified: Sentul-Buluroto, Sumber Bening, Jerambah, and Singgahan. These targets display characteristics of epithermal and porphyry copper-gold deposits, with extensive drilling and trenching work already conducted.
Far East Gold's Woyla project in northern Sumatra is also an advanced copper-gold project. With the acquisition of Trenggalek and the progress made in exploration, Far East Gold is further solidifying its position in the mining industry.
Image source: fareast.gold
Source: https://smallcaps.com.au/far-east-gold-increases-indonesian-footprint-java-copper-gold-project/
