New gold discovery a ‘defining moment’ for Far East Gold

Far East Gold (ASX:FEG) recently (think late 2024) captured a 51% stake in the Idenburg Gold Project in Indonesian Papua – and the last week has painted a much clearer picture about how much potential the dig really has.

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“Drilling at Bermol has proven to be exactly what we expected; it was always going to be an average grade, but good bulk tonnage resource,” Far East’s CEO Shane Menere told HotCopper in this Watchlist interview.

“In fact, when we did maiden JORC, [which was] 540,000 ounces, almost half of that was at Bermol alone, which is why we chose that as… number one.”

Everything from early work has left Far East “very happy” – and there’s more, too, with another discovery dubbed “defining” by the explorer’s in-field team.

“That’s led us into new discoveries next door, to the north, and that’s the North Bermol area, and we’re looking to extend drilling up to that particular area, we’ve got some samples, and we’re developing a plan,” Mr Menere explained.

You can watch the full HotCopper Watchlist interview with Mr Menere above.

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