- Drilling begins at the Rek Rinti prospect at the North Sumatra Woyla copper gold project in Indonesia
- Drilling continues at the Anak Perak prospect within Woyla
- All six holes drilled so far at Anak Perak intersect quartz vein and breccia
- Company shares are trading at 65 cents each at market close
Far East Gold (FEG) has begun drilling at the Rek Rinti Prospect in the Aceh region of North Sumatra in Indonesia.
It’s also progressing its phase one drilling program at the Woyla copper gold project’s Anak Perak prospect.
All core samples so far drilled from Anak Perak have intersected quartz vein and breccia, according to preliminary observations announced on Friday.
Exploration at Woyla has identified four main epithermal vein systems; Anak Perak, Rek Rinti, Aloe Eumpeuk and Aloe Rek, which have a combined strike length of 13,000 metres.
The first six holes of the planned 18-hold diamond drill program have been completed at the Anak Perak Main Zone for total drilling of 675.9 metres.
FEG now has three drill rigs active on the Woyla Project, two focussed on the Anak Perak drill and one that began work late last week on the Rek Renti initial five-hole campaign.
The Woyla Project was previously explored by Barrick Gold (1996-1998) and then by Newcrest (1999-2002). Newcrest ranked the Rek Rinti prospect as their priority target within the project.
The company has previously reported on the occurrence of bonanza grade gold-silver mineralisation within samples from Rek Rinti veins collected at surface.
The initial drill program of 1120 metres will test two of the widest quartz veins to about 100 metres deep.
FEG has six advanced projects in Australia and Indonesia. It holds a 51 per cent interest in the Woyla project, which is set to increase to 80 per cent upon completion of a feasibility study and definition of a maiden JORC resource estimate.
FEG is the most successful new listing on the ASX for investors this calendar year so far, providing 232.5 per cent gains on the IPO price of 20 cents.
The company listed on the ASX in March.
Company shares were trading at 65 each at market close.