Trenggalek High Grade Copper & Gold Mineralisation Confirmed
Released
Released
Announcement PDF
TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
ASX ANNOUNCEMENT
11 O C T O B E R 2023
TRENGGALEK: HIGH GRADE COPPER & GOLD
MINERALISATION CONFIRMED
Far East Gold Limited (FEG or the Company) has completed initial field mapping of its planned drill
targets at the Sentul and Buluroto prospect areas in the Company’s Trenggalek Copper Gold Project and
is pleased to announce that the detailed geological mapping at these priority prospect areas has
identified more high-grade copper and gold mineralisation at Sentul.
HIGHLIGHTS:
•
The Company’s Trenggalek Copper Gold Project is an advanced 12,813 hectare Izin Usaha
Pertambangan – Operasi Produksi (IUP-OP) mining licence for operation and production
located in East Java, Indonesia.
•
Recently completed field mapping and surface rock sampling (Figure 1) at the Sentul and Buluroto
prospect areas has identified high-grade copper and gold mineralization within the East Sentul
and West Sentul vein systems. Please refer to the below Table 1 showing significant copper (Cu)
and gold (Au) ppm from several rock assays:
Table 1: Assay results for surface grab samples collected from the Sentul prospect area.
•
A surface grab sample (GI004294) from the extensional Arum vein southeast of the West Sentul vein
returned significant copper concentration with an assay of 0.84% Cu with 1.6g/t Au and 79g/t Ag.
Surface grab sample (GI000701) from a section of massive crystalline to chalcedonic quartz contained
high-grade gold with an assay of 20.8g/t Au and 9.7g/t Ag (Table 1).
•
A surface grab sample (GI04289) of quartz-sulphide breccia from the West Sentul vein returned an
assay of 7.1g/t Au, 161g/t Ag and 0.32% Cu (Table 1). These results are consistent with high
grade gold and silver assays reported from veins intersected by historical drilling.
•
The associated high copper with associated high lead (0.86%) and zinc (0.52%) concentration
seen in rock sample GI004289 is notable as it appears to be derived from sulphide-rich clasts in the
quartz matrix breccia. For example, historical drillhole TRDD018 intersected a 1m wide colloformcrustiform textured quartz vein that returned 6.31g/t Au & 208g/t Ag from 47.25m downhole. The
occurrence of fine-grained chalcopyrite and bornite within the clasts is significant as it could
indicate the potential for copper-rich, polymetallic zones within the vein system or possibly the
presence of a more porphyry-related system at depth. This sample also contains high antimony
(Sb) concentration possibly reflecting the epithermal nature of host quartz vein.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
Surface grab samples were also collected from the East Sentul vein. Two of the samples indicate
the occurrence of high-grade gold mineralisation not intersected by previous drilling. A sample
of quartz breccia from the northeastern extend of the vein (GI004297) returned 10.7 g/t Au with
associated Pb and Zn enrichment (Table 1). The sample site is close to the historical drillhole
TRDD015 which intersected quartz breccia from 10.75-13.50 m and 16.70-18.20 m downhole.
Additional detailed sampling is warranted at this location as there may be potential for the occurrence
of high grade mineralisation within discrete, structurally-controlled zones.
Additional detailed sampling is also warranted at the location where the surface grab sample
GI000701 was collected (Figure 8). This rock sample of massive crystalline to chalcedonic quartz
assayed 20.8 g/t Au with no significant Ag or base metal enrichment.
Readers are referred to the Company’s ASX release dated 23 August 2023 for a more detailed
discussion of the types and styles of copper and gold mineralisation identified and targeted by the
Company within the Trenggalek Copper Gold Project’s IUP area.
Figure 1: The Trenggalek Copper Gold Project contains numerous areas of alteration and Au-Ag and Cu-Au mineralisation
associated with epithermal vein type and porphyry type occurrences. Four of the prospect areas have been identified by the
Company as priority targets for detailed exploration and resource delineation. These include Sumber Bening, SentulBuluroto, Singgahan and Jerambah.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
SENTUL PROSPECT AREA
The Sentul prospect is a low sulphidation gold-silver epithermal vein target. The quartz veins are up to
10-15m wide and greater than 5km collective strike length has been identified to date. The veins
at Sentul host high-grade gold intervals within a broader gold bearing zone. Previous drilling tested
approximately 650 m of strike length which represents less than 20% of the total defined vein system
(Figure 2).
36 drillholes totaling 4,696.2m has been completed, intersecting two principal, sub-parallel vein systems
identified as the East Sentul and West Sentul zones. The veins are complex, containing multistage
quartz veins and quartz breccia comprised of chalcedonic, microcrystalline and fine-medium grained
quartz. The vein systems remain open in all directions.
Significant historical drill intercepts from the West Sentul zone include:
•
TRDD004: 9.65m @ 4.51 g/t Au, 8 g/t Ag incl 2m @ 17.2 g/t Au, 13 g/t Ag from 111.35m and a
further 10.75m @ 3.62 g/t Au, 9 g/t Ag incl 1m @ 7.34 g/t Au, 10 g/t Ag from 127.95m.
•
TRDD002: 6.65m @ 3.29 g/t Au, 10 g/t Ag incl 1m @ 11.7 g/t Au, 18 g/t Ag from 49.35m.
•
TRDD005: 9m @ 4.91 g/t Au, 19 g/t Ag incl 1m @ 8.1 g/t Au, 23 g/t Ag from 5.8m.
Arum
Figure 2: Detailed geological map for the Sentul prospect area. The locations of the West Sentul, East Sentul and Arum
vein-breccia systems are shown. Sites of historical drilling and the locations of the surface grab samples discussed herein
are indicated.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
The results of the Sentul mapping are consistent with historical exploration and also suggest the
potential for high grade gold and silver mineralisation within the vein systems associated with
discrete structural zones. The potential for zones of polymetallic rich mineralisation and also deep
porphyry-related type mineralisation is also indicated. Detailed mapping will continue along the extents of
the Sentul vein systems. See Figures 3 to 8 for images and locations of the significant rock samples:
Figure 3: ABOVE – (GI004289); Quartz breccia vein, milky white to
reddish brown, weak weathered, mod lim-hem ox in fracture, breccia
text w/ chalcedonic +/-xtln vn, massive to banded, strong silica alt, 57% py diss at clast, 1-2% fg bn-cpy-sph(?) at grey qtz as clast, 1%
ma staining at fracture, direction undefine. Assays returned 7.080
ppm Au and 3,191 ppm Cu. RIGHT – Map showing location of
sample.
Figure 4: ABOVE – (GI004290); Quartz vein, milky white, patches
blackish brown, weak weathered, weak-mod Mn ox in fracture,
dominantly qtz chalcedonic-xtln vn, massive, vugy infill MnO, strong
silica alt, trace py, wide +/-8 m observe, w/ strike N 210E/75NW, DD
310/75NW. Assays returned 0.926 ppm Au and 286 ppm Cu.
RIGHT – Map showing location of sample.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
Figure 5: ABOVE – (GI004291); Quartz vein, milky white, weak limhem-Mn ox in fracture, qtz chalcedonic-xtln vn, massive to banded,
minor vugy fill Mn ox, strong silica altered, trace py to 1% py spotted,
wide +/-10m (top ridge), trend direction N 50-60E/80SE, DD 130140/80SE. Assays returned 1.519 ppm Au and 20 ppm Cu.
RIGHT – Map showing location of sample.
Figure 6: ABOVE – (GI004294); Quartz breccia vein, milky white to
grey brown, weak-mod weathered, moderate lim-hem ox in fracture,
breccia texture w/ VAN(?) as clast, qtz chalcedonic-xtln in cemented,
massive, minor vugy texture, strong silica altered, 10-15% py diss, 12% cpy-ma blebs in qvn, wide +/-3m observe, w/ strike N 80⁰E/56⁰S &
DD 185⁰/56⁰S. Assays returned 1.649 ppm au and 8,436 ppm Cu.
RIGHT – Map showing location of sample.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
Figure 7: ABOVE – (GI004297); Quartz vein, milky white-brown, fresh
to weak weathered, weak-mod lim-hem ox in fracture, massive w/
chalcedonic-xtln vein, selective bx text w/ VAN clast, strong silica altered,
5-10% py diss, 1% fgr gn+sp diss in qvn, wide +/-5m observe, w/ strike N
40⁰E/72⁰SE & DD 120⁰/72⁰SE. Assays returned 10.715 ppm Au and 115
ppm Cu. RIGHT – Map showing location of sample.
Figure 8: ABOVE – (GI000701); Quartz vein, milky white to brown,
patches grey, fresh-weak weathered, weak lim-hem ox in fracture, quartz
chalcedonic-xtln vein, massive, locally breccia texture w/ VAN(?) as clast,
minor vugy texture, strong silica altered, containing 5-7% py disseminated,
<1% fgr gn-sp in qvn. (same location w/ RC-004298). Assays returned
20.757 ppm Au and 38 ppm Cu. RIGHT – Map showing location of sample.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
BULUROTO PROSPECT AREA
The Buluroto prospect is a multi-stage, quartz-sulphide vein-breccia system, 1,000m to 2,000m long
and up to 20 m wide. It is situated about 800 m northwest from the Sentul prospect. Results of
historical exploration indicate highly anomalous gold with significantly elevated copper, arsenic
and antimony within a poorly defined zone of crackle breccia and quartz stockwork up to 75m wide.
11 drillholes totaling 1,380.4m has been completed. The Buluroto prospect holds potential for a
porphyry related copper and gold target based on mineralisation. Results from the scout drill program
at Buluroto highlight locally high-grade gold with significant copper.
Significant historical drill intercepts from the Buluroto prospect area include:
•
TRDD025: 24.5m at 0.49 g/t Au, 0.21% Cu and 16g/t Mo from 138.5m
•
TRDD037: 13.7 m at 3.2 g/t Au & 60 g/t Ag from 13.4 m including 2.0 m at 8.7 g/t Au & 48 g/t Ag.
Figure 9: Cross section with significant assays of four historical scout holes completed at Buluroto that were drilled on one
section across the breccia body. This drilling has not fully tested the coherent >700m-long, NNE-trending systems as defined
by a gold-arsenic anomaly in soil samples.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
The results of the Buluroto mapping are consistent with historical exploration and also suggest
the potential for high grade copper porphyry style mineralisation within this prospect area.
Detailed mapping will continue along the extents of the Buluroto prospects area. See Figures 10 and 11
for images and locations of the significant rock samples:
Figure 10: ABOVE – (GI004280); Quartz breccia vn, white, grey
brown, weak weathered, weak lim-hem ox staining & infill fracture,
breccia text w/ andesite as clast, massive qtz xtln vn in matrix,
strong silica altered, 3m wide, containing 10% py disseminated, w/
strike N 230E/75 NW, DD 305/75 NW, contact with andesite
wallrock. Assays returned 0.802 ppm Au and 264 ppm Cu. RIGHT
– Map showing location of sample.
Figure 11: ABOVE – (GI004283); Quartz breccia vein, white, grey
brown, weak-moderate weathered, mod-strong lim-hem ox in
fracture, breccia text w/ andesite clast, qtz xtln vein in matrix,
strong silica alt, minor vughy & drussy text, 3-5% py diss, spotted
<1% achantite(?), w/ 2m wide, undefine the direction. Assays
returned 0.443 ppm Au and 448 ppm Cu. RIGHT – Map showing
location of sample.
FAR EAST GOLD ASX ANNOUNCEMENT
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TRENGGALEK FIELD MAPPING UPDATE
HIGH GRADE COPPER AND GOLD MINERALISATION IN ROCK ASSAYS
COMPETENT PERSON’S STATEMENT
The information in this report that relates to Exploration Results and Mineral Resources is based on
information compiled by FEG staff and approved by Michael C Corey, who is a Member of the
Association of Professional Geoscientists of Ontario, Canada. Michael Corey is employed by the
Company and has sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent
Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves’. Michael Corey has consented to the inclusion in this report
of the matters based on his information in the form and context in which they appear.
ABOUT FAR EAST GOLD
Far East Gold Limited (ASX: FEG) is an ASX listed copper/gold exploration company with six advanced
projects in Australia and Indonesia.
The Company’s Trenggalek Copper Gold Project is a 12,813 ha IUP-OP located in the East Java
Province of Indonesia. The Trenggalek IUP-OP is held by PT Sumber Mineral Nusantara (PT SMN). PT
Sumber Abadi Nusantara (PT SAN) holds 492,450 Class B shares (49% of the total issued shares of PT
SMN) and PT Jatim Tambang Prima (PT JTP) holds 512,550 Class A Shares (51% of the total issued
shares of PT SMN). FEG controls the board and management of PT SMN, PT SAN and PT JTP. FEG
(through its ownership of PT SAN) has 49% legal ownership of PT SMN and in accordance with the share
class structure of PT SMN has 100% effective economic interest in the Trenggalek project.
Release approved by the Company’s board of directors.
FURTHER INFORMATION:
To receive company updates and investor information from Far East Gold, register your details on the investor
portal: https://fareastgold.investorportal.com.au/register/
COMPANY ENQUIRIES
Paul Walker
Chairman
e: paul.walker@fareast.gold
m: + 61 408 776 145
Shane Menere
Chief Executive Officer
Tim Young
Investor Relations & Capital Markets
e: shane.menere@fareast.gold
m: + 61 406 189 672
+ 62 811 860 8378
e: tim.young@fareast.gold
m: + 61 484 247 771
MEDIA ENQUIRIES
Sophie Bradley
IR Executive
Reach Markets
e: IR@reachmarkets.com.au
m: +61 450 423 331
FAR EAST GOLD ASX ANNOUNCEMENT
9
ATTACHMENT X
JORC Code, 2012 Edition – Table 1 report SPL1454
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria
Explanation
Sampling
techniques
•
•
•
Drilling
techniques
•
Commentary
Nature and quality of sampling (e.g. cut
channels, random chips, or specific
specialised
industry
standard
measurement tools appropriate to the
minerals under investigation, such as
down hole gamma sondes, or handheld
XRF instruments, etc.). These examples
should not be taken as limiting the broad
meaning of sampling.
Include reference to measures taken to
ensure sample representivity and the
appropriate
calibration
of
any
measurement tools or systems used.
Aspects of the determination of
mineralisation that are Material to the
Public Report. In cases where ‘industry
standard’ work has been done this would
be relatively simple (e.g. ‘reverse
circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised
to produce a 30 g charge for fire assay’).
In other cases, more explanation may be
required, such as where there is coarse
gold that has inherent sampling
problems. Unusual commodities or
mineralisation types (e.g. submarine
nodules) may warrant disclosure of
detailed information.
Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc.) and details
(e.g. core diameter, triple or standard
tube, depth of diamond tails, facesampling bit or other type, whether core
is oriented and if so, by what method,
etc.).
10
-
Diamond drill core was logged, photographed, and
split for sampling under the supervision of Company
geologists at a core shed. Samples were selected
over continuous intervals within the mineralised
zones and in the surrounding rock. Sample lengths
generally varied between 0.5 and 2 m. A cutting-line
was drawn down the longitudinal centre of the core
with a permanent marker pen, usually perpendicular
or at the highest possible angle to the mineralised
structure. The core was split with a locally made,
“Clipper-like” petrol-driven core saw using 14-inch
Sandwich
Blue-Series
(Granite)
diamondsegmented wet saw-blades. Highly broken core was
cut inside its plastic wrapping to minimise any
sample loss.
-
Drilling was done under moderate rod rotation with
controlled fluid circulation, which allowed for regular
stripping and uniform diamond exposure with
advance of the bit, and a steady rate of coring. 1.5-m
long, triple-tube PQ, HQ and NQ barrels were used,
and drilling runs were reduced to maximise recovery
within the mineralised zones, particularly where
these were highly broken and cut by clayey
cataclasite or fault breccias. Longer runs were made
under more competent, compact, and less fractured
ground conditions.
-
The core boxes were individually labelled with the
hole ID, box number and meterage (start/finish).
Down-hole depth was marked on a plastic core block
and placed in the core box at the end of each drillrun. All work was directly supervised by Company
geologists.
-
Samples were oven-dried at 1050oC and jawcrushed to greater than 75% passing 10-micron (2mm) particle size, and then completely pulverised in
a LM2 ring mill pulveriser with a chrome-steel ring set
for greater than 95% passing 75-micron.
-
Half-core was sampled using individually numbered,
calico sample bags. The sample ID was written on
the outside of the bag with a permanent marker pen
and a water-proofed sample tag was placed inside
the bag. The samples were sealed in polyweave
bags for transportation by road (commercial bus
service) to the internationally accredited mineral
assaying laboratory of P.T. Intertek Utama Services
(“Intertek”) in Jakarta.
-
Holes were drilled using PQ, HQ and NQ triple-tube
wireline coring equipment.
-
A Reflex EZ-Shot® electronic single shot down-hole
camera supplied by Maxidrill was used to survey dip,
magnetic azimuth, temperature and magnetic field
strength at about 15 to 30-m down-hole intervals in
all holes. The range and typical errors on the dip and
azimuth read from the digital interface on the camera
are +900 and 0-3600 (range) and +0.20 and +0.50
(error), respectively.
Criteria
Explanation
Drill sample
recovery
•
•
•
Logging
•
•
•
Commentary
Method of recording and assessing core
and chip sample recoveries and results
assessed.
Measures taken to maximise sample
recovery and ensure representative
nature of the samples.
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse
material.
Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate
Mineral
Resource
estimation,
mining
studies
and
metallurgical studies.
Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel, etc.) photography.
The total length and percentage of the
relevant intersections logged.
-
Drill-core was pumped out of the core barrel and
directly measured for core recovery and geotechnical
properties directly from the splits. The core was then
removed from the inner tube splits by hand and
placed into heavy duty drill-core boxes made of
waxed corrugated Kraft cardboard fitted with plastic
partitions designed for PQ, HQ or NQ core.
-
No sludge sampling was undertaken due to the
excellent core recovery.
-
ARX field geotechnicians were present on all three
shifts to monitor the drilling progress, core handling,
consumables usage, and to measure core recovery
and RQD immediately after each drill-run was
completed. The project geologists checked the hole
progress in the field daily.
-
Core recovery average was approximately 98%.
-
Core was photographed, logged, and split for
sampling under the supervision of the project
geologists at the core shed. Samples were selected
over continuous intervals within the mineralised
zones and in the surrounding rock.
-
Diamond drill core was logged by geologists for
lithological units and alteration zones and structural
features to determine sampling intervals. Core
logging is both qualitative and quantitative. Core is
logged descriptively and codes are used to describe
alteration type/ intensity, quartz type and intensity as
well as various percentages of minerals. Structural
data including veins, shears, and fractures.
Subsampling
techniques
and sample
preparation
•
•
•
•
•
•
Quality of
assay data
and
laboratory
tests
•
•
If core, whether cut or sawn and whether
quarter, half or all core taken.
If non-core, whether riffled, tube
sampled, rotary split, etc. and whether
sampled wet or dry.
For all sample types, the nature, quality
and appropriateness of the sample
preparation technique.
Quality control procedures adopted for
all sub-sampling stages to maximise
representivity of samples.
Measures taken to ensure that the
sampling is representative of the in situ
material collected, including for instance
results for field duplicate/second-half
sampling.
Whether sample sizes are appropriate to
the grain size of the material being
sampled.
The nature, quality and appropriateness
of the assaying and laboratory
procedures used and whether the
technique is considered partial or total.
For geophysical tools, spectrometers,
handheld XRF instruments, etc., the
parameters used in determining the
analysis including instrument make and
11
-
Drill core was logged, photographed, logged, and
split for sampling under the supervision of the project
geologists at the core shed. Samples were selected
over continuous intervals within the mineralised
zones and in the surrounding rock. Sample lengths
generally varied between 0.5 and 2 m.
-
Intertek uses an international standard system of
Quality Control (QC) procedures to measure
analytical variance within sample batches. This
includes the assaying of selected geochemical
standards, blanks, and a series of checks and
repeats on random samples from each batch. In
addition, ARX submitted its own commercially
purchased gold standards to observe consistency
and possible errors in QC at the laboratory. The
standards were submitted on a ratio of about one
standard for every 20 core samples to the laboratory.
The results fell within acceptable limits of variance.
No external checking has been done to date on the
drill-core samples from this program.
-
The low core recovery is dominated in epiclastic
areas that are not mineralised, so it does not
significantly affect the calculation of resource
estimates.
-
Assaying was completed by PT Intertek Utama
Services in Jakarta, a subsidiary of Intertek Group
Inc. (accredited for chemical testing under ISO/ICE
17025:2005).
-
Samples sorted, weighed & dried (1050C). The
entire sample is jaw crushed for >75% passing 2mm, then completely pulverised in LM2 Crsteel ring
grinding mill for >95% passing 75- microns (PT01).
Criteria
Explanation
•
Verification
of sampling
and
assaying
•
•
•
•
Location of
data points
•
•
•
Data
spacing
and
distribution
•
•
•
Orientation
of data in
relation to
geological
structure
•
Sample
security
•
•
Commentary
model, reading times, calibrations
factors applied and their derivation, etc.
Nature of quality control procedures
adopted (e.g. standards, blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (i.e. lack of bias) and precision
have been established.
-
Gold by 50-g Fire Assay: lithargic fusion, lead
collection with AAS finish (FA51); Silver, copper,
lead, zinc by mixed hydrochloric-nitric acid
(HCl/HNO3) digest with AAS finish (GA02); If result
>100 ppm Ag reassayed by mixed hydrochloricnitricperchloric acid (HCl/ HClO4/HNO3) digest with
AAS finish (GA30); Arsenic, antimony, molybdenum,
barium by pressed pellet XRF finish (XR01).
-
Assays falling outside of acceptable ranges are reassayed. Intertek Laboratories also carry out routine
internal quality control, and review of this data
suggests there are no issues with either precision or
accuracy.
-
The QA/QC results so far have shown no significant
deviations from field sampling and laboratory
analysis at the Trenggalek project.
The
verification
of
significant
intersections by either independent or
alternative company personnel.
The use of twinned holes.
Documentation of primary data, data
entry procedures, data verification, data
storage (physical and electronic)
protocols.
Discuss any adjustment to assay data
-
All field and laboratory data are entered into an Excel
database, also the core drilling logs.
-
Drill databases are stored in standard formats in
Excel.
-
No adjustments to the assay data have occurred.
Accuracy and quality of surveys used to
locate drill holes (collar and down-hole
surveys), trenches, mine workings and
other locations used in Mineral Resource
estimation.
Specification of the grid system used.
Quality and adequacy of topographic
control.
-
Initially collars are located with hand-held GPS
device. Drill collar elevations and hole locations are
later recorded with differential GPS equipment by a
licenced surveyor.
-
All survey coordinate information was recorded on
the Universal Transverse Mercator (UTM) grid
projection using GDA-94 map datum. Magnetic
declination within the IUP area is 1 0 16’ East
(Positive). The conversion of magnetic azimuth
readings for plotting on UTM grid azimuth is about
(plus) +1.25o.
Data spacing for reporting of Exploration
Results.
Whether the data spacing and
distribution is sufficient to establish the
degree of geological and grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Whether sample compositing has been
applied.
-
Drilling was undertaken based on the geophysical
targets presented.
-
The spacing of data is variable.
Whether the orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.
-
The Sentul- Buluroto mineralisation within the
Trenggalek area is controlled by a structure with a
North-East-South-West trend and is a quartzsulphide type mineralisation. The drilling Programme
has identified several subsurface mineralised zones.
-
To the extent known, drilling is assumed to be
unbiased.
The measures taken to ensure sample
security.
-
Drill samples were under the direct supervision of
company personnel from drilling at site, through
sample preparation up until delivery to the assay
laboratory in Jakarta.
12
Criteria
Explanation
Audits or
reviews
•
Commentary
-
The results of any audits or reviews of
sampling techniques and data.
A safety audit of the drilling equipment was
completed by the supervising geologist at the start of
the program. Safety and tool-box meetings were held
regularly with ARX and drilling personnel during the
program. There were no accidents or other safety or
environmental incidents to report during the program.
Section 2 - Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria
Explanation
Mineral
tenement
and land
tenure
status
•
•
Exploration
done by
other
parties
•
Commentary
Type, reference name/number, location
and ownership including agreements or
material issues with third parties such as
joint ventures, partnerships, overriding
royalties, native title interests, historical
sites, wilderness or national park and
environmental settings.
The security of the tenure held at the time
of reporting along with any known
impediments to obtaining a licence to
operate in the area.
Acknowledgment and appraisal
exploration by other parties.
of
13
-
Trenggalek tenement is held in the name of PT
Sumber Nusantara Mineral (PT SMN) which consists
of:
-
49% owned by PT Sumber Abadi Nusantara (PT
SAN) being all of the B Class ordinary shares of
PT SMN. PT SAN is 99% owned by Trenggalek
Pty Ltd and 1% owned by Trenggalek (No.2) Pty
Ltd. Trenggalek Pty Ltd and Trenggalek (No.2)
Pty Ltd are 100% owned by Far East Gold Ltd.
-
51% owned by PT Jatim Tambang Prima (PT
JTP) being all of the A Class special shares. PT
JTP is owned by FEG’s associated persons
Jimbarlow Gultom and Adi Wijoyo who hold 50%
each.
-
Under the Articles of Association for PT SMN
Class A Special Shares have (i) no voting rights
and (ii) the right to a fixed preferential dividend
equal to Rp100 (one hundred Rupiah) per share
of the total amount, if any, set aside for dividends
in any year, while Class B Ordinary Shares have
(i) 1 (one) vote per Class B Ordinary Share and
(ii) the right to unlimited ordinary dividends once
the preferential dividend due in respect of the
Class A Special Shares has been paid in any
year. Thereby giving PT SAN effectively 100%
economic interest in PT SMN.
-
Justin Werner (Non-executive director of FEG) is the
President Commissioner of PT SMN, PT SAN, and
PT JTP.
-
Jimbarlow Gultom (Indonesian Country director for
FEG) is the President Director of PT SMN, PT SAN,
and PT JTP.
-
Shane Menere (Chief Executive Officer of FEG) and
Paul Walker (Chairman of FEG) are the remaining
directors on the boards of PT SMN, PT SAN and PT
JTP.
-
PT SMN holds a Mining licence for operation and
production (Izin Usaha Pertambangan – Operasi
Producsi) granted on 24 June 2019, for 12,813.41
ha.
-
Diamon Drilling by PT Indonusa, Arc Exploration, PT
Antam (Aneka Tambang) and JV Anglo American
and Arc Exploration.
-
Geological mapping, Rock and Soil Sampling,
Ground Magnetic Researc
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