Far East Gold finds bonanza grades at Indo project
Brisbane based Far East Gold has discovered “bonanza” grade gold intersections at the Woyla project in Indonesia, a prospect even the industry’s major players had given up on.
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FEG, which only listed on the ASX last month after a $12 million capital raising, said recent sampling at the Anak Perak vein system within Woyla, had not only hit bonanza grades of up to 7 grams per tonne of gold and 18 g/t of silver, but also extended the length of the system.
“The new vein can be traced over 400 metres of strike length and had an indicated vein width of 8 metres,” FEG said.
FEG said the new discoveries extended Anak Perak’s vein system to 4700 metres in length “which would effectively double the potential resource area”.
The Woyla project had previously been worked over by Newcrest and has been regarded by FEG as one of the best prospects in South East Asia.
The company had previously identified bonanza grades of as high as 119 g/t of gold and 361 g/t of silver with significant concentrations of copper, lead and zinc.
