Far East Gold Ltd (ASX:FEG) Completes Idenburg Scoping Study, Highlighting High-Grade Sua Gold Resource
Far East Gold recently appeared in this article by ABN Newswire
Chief Executive Officer Shane Menere's comments:
"This Scoping Study is an important milestone because it has given us a clear starting point for Idenburg's conceptual development pathway-and that starting point is Sua.
Sua already hosts an inferred MRE containing 514,000 ounces of gold, including a compelling high-grade concentration of approximately 390,000 ounces at an average grade of 9.2 g/t Au based on a 3.0 g/t Au cut-off on the grade-tonnage curve. Combined with near-surface mineralisation, conceptual open-pit potential, strong preliminary metallurgical recoveries, a conventional processing route and close proximity to the Trans-Irian Highway, we believe Sua provides a strong foundation from which to advance the broader Idenburg Gold Project.
The Scoping Study has also defined what we need to do next. Mining One Consultants have recommended 73 holes for approximately 6,085 metres across Sua, Bermol and North Bermol. The initial phase would focus on Sua, with 26 holes for approximately 2,840 metres designed to increase geological confidence within and around the main high-grade corridor and conceptual pit area, while testing extensions and opportunities for resource growth.
Our objective is for the drilling to support an updated MRE with portions classified as indicated and potentially measured. If successful, that greater geological confidence, together with further technical work, would position Idenburg for next-stage evaluation and could provide the reasonable basis required to disclose project economics.
For us, the Study is not the endpoint-it establishes the development pathway. Importantly, neither conceptual development case relies on Mafi or any Exploration Targets, while the broader district-scale Idenburg system retains significant exploration upside."
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