IDENBURG

A BTS has been signed for the High Grade Gold project which is a 95,280 Ha 6th generation Contract of Work (CoW) located in the same province hosting world class multi-million-ounce gold and copper deposits including Grasberg (100 Moz Au), Wabu (10 Moz Au), Ok Tedi (20 Moz Au) ,Wafi (30 Moz Au), Lihir (60 Moz) Freida River (20 Moz Au), and Porgera (20 Moz Au).

Highlights:

  • Of the 14 prospect areas identified, 5,531 metres of diamond drilling has been completed across only 5 prospects. Previous work undertaken by Barrick (1994-1997), Newmont and Newcrest (1998), Placer Dome (2001-2002), and Avocet Mining (2004-2009) 

  • SMGC Independent June 2024 evaluation report suggests potential for 7.2 Moz at up to 6.1  g/t Au.

  • 14 known prospect areas. Only 30% of CoW has been explored.

  • FEG can acquire up to 100% interest.

  • Excellent logistics located only 120 km south of the capital Jayapura. Idenburg is intersected by the Trans Irian Jaya Highway. 

  • Good local engagement. Strong community support to advance the project.

Map showing geology of the Idenburg Sua-Afley Shear Zone and Mafi River Thrust Fault in blue dash-dot lines and current know prospects both drilled and undrilled.

  • Orogenic gold deposit  similar to areas such as Kalgoorlie and the South Eastern Australia goldfields, Mother Lode district in California

  • Most of the world’s major ‘Bonanza’ gold fields are orogenic in nature and can display large vertical extents.

  • Gold ore zones are associated with shallow dipping, near surface shear structures easily extracted by conventional opencut mining methods.

  • Historical exploration indicates all 14 prospect areas fall within a 15km radius of the main road with only 5 drilled to date.

  • Project area retains all prospective portions of the exotic Idenburg terrane, comprising Paleozoic metamorphic rocks floating in a sea of Tertiary sediments and volcanics along the northern margins of the Australian continent.

  • Location of Mafi and Bermol resources are controlled by significant crustal structure exhibiting dismembered ophiolite slices along trace of thrust fault

3D view to the north of the Sua deposit model (> 1 g/t Au blocks shown in red)

Discovery outcrop at Sua prospect showing channel sample of 3m @ 73.1 g/t Au

Sua Prospect Area (22 holes – 2,629m)

KSD001:

  • 16m @ 2.38 g/t Au from 0m and;

  • 4m @ 2.31 g/t Au from 22m and;

  • 5m @ 1.69 g/t Au from 33m and;

  • 4m @ 5.96 g/t Au from 41m; including 2m @ 11.4 g/t  Au from 43m.

KSD002:

  • 7.5m @ 16.0 g/t Au from 21m, including 1.6m @ 52.5 g/t Au and;

  • 2m @ 8.78 g/t Au from 78m.

KSD004:

  • 1m @ 33.8 g/t Au from 123m.

KSD005:

  • 9m @ 4.0 g/t Au from 80m, including 1m @ 25.8 g/t Au.

KSD008:

  • 1m @ 3.18 g/t Au from 70m and;

  • 5m @ 21.8 g/t Au from 107m; including 3m @ 35.0 g/t Au from 107m.

KSD010:

  • 18m @ 2.05 g/t Au from 0m and;

  • 8m @ 2.58 g/t Au from 44m; including 1m @ 14.3 g/t Au from 44m and;

  • 3m @ 17.7 g/t Au from 55m and;

  • 3m @ 2.0 g/t Au from 64m.

KSD021:

  • 3m @ 9.56 g/t Au from 75m; including 1m @ 23.0 g/t Au from 77m.

KSD022:

  • 17m @ 2.88 g/t Au from 0m and:

  • 8m @ 1.43 g/t Au from 33m and;

  • 1m @ 3.35 g/t Au from 70m.

Channel Samples: 

  • 3m @ 73.1g/t Au;

  • 6m @ 43.7g/t Au;

  • 4m @ 52.0g/t Au;

  • 3m @ 65.0g/t Au and

  • 2m @ 83.9g/t Au.

Bermol Prospect Area (7 holes – 771m)

Significant drill intercepts:

  • 5m @ 5.40 g/t Au Incl. 2m @ 11.8 g/t Au from 17m

  • 5m @ 4.15 g/t Au Incl. 3m @ 7.08 g/t Au from 46m

  • 7m @ 2.78 g/t Au Incl. 4m @ 4.15 g/t Au from 66m

  • Open along strike

Mafi Prospect Area (23 holes – 1,642m)

Significant drill intercepts:

  • 12.6m @ 8.01 g/t Au Incl. 1.25m @ 25.7 g/t Au from 15.75m

  • 8m @ 2.72 g/t Au Incl. 2m @ 6.96 g/t Au from 12m

  • 6m @ 2.99 g/t Au Incl. 2m @ 7.50 g/t Au from 6m

  • 8.1m @ 7.50 g/t Au Incl. 1.4m @ 16.3 g/t Au from 18m

  • Open along strike

INDEPENDENT EXPLORATION TARGET

  • Independent Exploration Target (JORC2012) completed by SMG Consulting in July 2024 returned an upside target of 7.2 Moz at up to 6.1  g/t Au across all known prospect areas.

  • Significant upside for additional prospects and mineralized ore bodies.

  • FEG has engaged SMG Consulting to commence the preparation of a 2012 JORC Resource

PROSPECTIVITY & PROJECT HIGHLIGHT.

  • Drilling intercepts over 50 g/t au

  • Channel samples over 83 g/t au

  • Rock chip samples over 95 g/t au

  • Outcrop samples over 1018 g/t au

  • Production forest designation.

  • Favorable commercial terms.

  • World class geological location with tier 1 neighbors within the province.

  • 2012 JORC Exploration Target (July 2024) using Historical Estimate data from previous exploration and drilling.

  • A clear plan to a 2012 Maiden JORC Resource.