Open - pit gold mining
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Far East Gold confirms high-grade gold breakthrough at Idenburg - ICYMI
Proactiveinvestors NAยท 2025-10-31 04:46
Core Viewpoint - Far East Gold Ltd has confirmed high-grade gold mineralisation at the Idenburg Project in Indonesia, indicating potential for a large-scale, low-cost, open-pit gold operation [1][6]. Group 1: Drilling Results - At North Idenburg, grades of up to 15 grams per tonne were reported, including an intercept of 4.9 grams per tonne over five metres [2][6]. - The mineralised zone extends over 300 metres of strike and 400 metres of dip, featuring strong shearing and sulphide mineralisation [2][7]. Group 2: Geological Characteristics - The geometry of the North Idenburg zone is significant, with a broad, near-horizontal mineralised plain that is favourable for open-pit development [3][9]. - This structure allows for a low strip ratio, efficient material movement, and reduced capital requirements, making it ideal for mining operations [3][9]. Group 3: Future Plans and Funding - A 350-metre step-out program to the south is underway to test the extension of the shear zone, with drilling also commencing at Sua, which contains nearly 300,000 ounces of gold [4][11]. - The company has $9 million in cash and is fully funded to continue its exploration programs, marking a key turning point for the project [4][11].