Far East Gold discovers new porphyry system at Trenggalek Project
May 01, 2024 at 04:32 pm EDT
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Far East Gold Ltd (ASX:FEG) joins Jonathan Jackson in the Proactive studio to discuss new findings from ongoing exploration activities at the Trenggalek Copper Gold Project. In conjunction with Eurasian Resources Group (ERG), the companies have identified an additional porphyry-related mineral system at the Ngerdani target area, further expanding the project's potential. The recent updates are supported by reinterpretations of structural and magnetic data, along with recent surface mapping and rock sampling. A key development includes 3D magnetic inversion modelling of historical ERG magnetic survey data which revealed the presence of a deep magnetic body associated with extensive advanced argillic alteration and coincides with high temperature clays, mineralized hydrothermal breccia and elevated molybdenum levels in soil, suggesting the presence of a porphyry system. Historical exploration data from Ngerdani includes significant trench channel sample assays such as 10 metres at 26.38 g/t gold, including 2 metres at 131 g/t, among others. These findings, particularly the high-grade zones, are associated with hydrothermal breccia featuring a black silica-pyrite matrix, indicating the potential scale of the mineral system. The identification of this new porphyry system brings the total number of porphyry-related systems within the Trenggalek IUP to six, with nine specific targets now defined for testing in the planned Phase 1 drill program. Far East Gold plans to continue its assessment of the Ngerdani prospect to define the optimal location for a scout drill hole. This drilling will aim to test the potential for significant porphyry-type mineralisation, building on the promising geological indicators already identified.
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Jonathan Jackson
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Far East Gold Limited is a copper and gold exploration company with projects in Australia and Indonesia. Its projects include Woyla Copper Gold, Trenggalek Copper Gold, Wonogiri Copper Gold, Mount Clark West Copper Gold, Hill 212 Gold, Blue Grass Creek Gold and Reedy Creek. The Woyla Copper Gold Project consists of an area of 24,260 hectares (ha). The Woyla Copper Gold Project prospects include Anak Perak Prospect, Aloe Eumpeuk Prospect, Aloe Rek Prospect, and Beurieung Porphyry Copper Prospect. The Trenggalek Copper Gold Project is an advanced 12,813 ha Izin Usaha Pertambangan-Operasi Produksi (IUP-OP) mining license for operation and production located in East Java, Indonesia. The Trenggalek Copper Gold Project prospects include Sentul Prospect, Sumber Bening Prospect, and Buluroto Prospect. The Wonogiri Copper Gold Project is an Advanced 3,928 ha IUP (Exploration Mining Permit) for porphyry and epithermal gold and base metals. The Reedy Creek Project covers over 3,840 ha.