Far East Gold (ASX: FEG): High-Grade Drilling Extended at Sua as Gold Market Momentum Builds ⛏️✨
Far East Gold has approved an extension to diamond drilling at the high-grade Sua Prospect within its flagship Idenburg Gold Project in Indonesia, following strong assay results that confirm depth continuity and reinforce confidence in a robust stacked vein system. The move comes as global gold demand strengthens amid geopolitical uncertainty and central bank buying.
Extension approved following strong high-grade assay results
Confirmation of lateral and down-dip continuity at Sua
High-grade stacked quartz vein system remains open
Favourable global gold market fundamentals support exploration upside
🌍 Flagship Asset – Idenburg Gold Project (Indonesia)
Large Contract of Work area in Papua Province
JORC (2012) Inferred Resource:
Sua Prospect contribution:
Mineralisation hosted within the Sua–Afley shear zone, open along strike and at depth
⛏️ Exploration Momentum at Sua
Recent 10-hole diamond drilling program (1,836m) completed
First four holes intersected high-grade and bonanza-grade gold
Deeper high-grade zones identified beyond historic drilling
Five additional step-out holes (1,360m) approved to test depth extensions
🧪 Metallurgical Advantage
50–60% gold recoverable via gravity
Overall recoveries exceeding 90% using conventional CIL/RIL processing
Supports potential future development pathways
Far East Gold (ASX: FEG) last traded at $0.15, valuing the Company at approximately $55.05M, with the stock up 7.14% over the past month. With a high-grade resource base, expanding drill footprint at Sua, favourable metallurgy, and strengthening global gold demand, Far East Gold offers investors leveraged exposure to exploration success in a supportive gold market environment.
Read More - https://colitco.com/far-east-gold-drilling-sua-prospect/
Disclaimer: This is not investment advice, please do your own research for any investment decisions.