Far East Gold Limited: Idenburg Project Update: SUA Prospect

00:24 Uhr  |  ABN Newswire

Sydney, Australia - Far East Gold Ltd. (ASX:FEG) (OTCMKTS:FEGDF) announced assay results from diamond drillhole KSD027, the fifth drillhole to receive assays from the Company's ongoing drill program at the Idenburg Gold Project - Sua Prospect area in Papua, Indonesia.

KSD027 is a 50m step-out hole from previously reported drill holes KSD025 and KSD026. The results confirm a 50m lateral extension of high-grade gold zones intersected in holes KSD025 and KSD026.

HIGHLIGHTS

KSD027 delivers multiple high-grade and bonanza-grade gold intervals. Significant assays include:

- 8.55 g/t Au over 1.7m (from 14.4m), including 20.28 g/t Au over 0.7m (from 14.4m)

- 49.47 g/t Au over 4.85m (from 73.85m), including:

o 62.12 g/t Au over 3.85m (from 73.85m); and
o 93 g/t Au over 1.0m (from 74.5m); and
o 175 g/t Au over 0.55m (from 77.15m)

- 11.2 g/t Au over 0.5m (from 96.15m)

- 5.51 g/t Au over 0.80m (from 112.9m)

The high-grade zone intersected in KSD027 remains open down-dip and along strike to the northeast. FEG's Sua drilling has consistently returned high-grade gold:

- 19 of 22 historic drillholes at Sua intersected gold mineralisation.

- All five FEG diamond drillholes reported to date (KSD023-KSD027) have intersected high-grade gold within multiple stacked quartz-sulphide veins. Previously reported highlights (see the Company's ASX announcement dated 17 December 2025) include:

- KSD023: 13.77 g/t Au over 9.8m (from 18.5m) including 131 g/t Au over 0.8m (from 24.5m)

- KSD024: 8.59 g/t Au over 35.5m (from 23.5m) including 252.50 g/t Au over 0.8m (from 24.5m)

- KSD025: 8.42 g/t Au over 7.7m (from 106.3m) including 35.29 g/t Au over 0.6m (from 111.7m)

- KSD026: 8.82 g/t Au over 4.5m (from 120m) including 51 g/t Au over 0.5m (from 122.5m)

FEG's Non-Executive Chairman, Mr Justin Werner stated: "KSD027 confirms that high-grade gold continues below the historic intercepts and within numerous veins. This is the pattern we wanted to see at Sua in an orogenic lode system - continuity of structure and grade down-dip and along strike.

The more holes we drill, the more confidence we gain that Sua is a highly fertile gold system with substantial untested potential."

KSD027 SUMMARY AND PROGRAM-TO-DATE CONTEXT

The Sua vein system occurs within the ~5 km long Sua-Afley shear zone and is considered highly prospective for additional high-grade discoveries. A review and discussion of historical exploration and assessment of resource potential can be found in the Company's ASX announcement dated 21 August 2024.

FEG's Idenburg Project hosts a JORC (2012) inferred Mineral Resource estimate of approximately 540,000 oz Au, at an average grade of 4.1 g/t Au including an estimated 296,000 oz Au at an average grade of 3.7 g/t Au within the Sua Prospect (see Appendix 1, Table 1*).

Historic and FEG drilling to date at Sua comprise 32 diamond drillholes (22 historic + 10 FEG) for a total of 4,465m, with gold mineralisation intersected in 19 of 22 historic holes within the current resource footprint. Including FEG's drilling, 24 of 27 holes assayed to date have intersected gold mineralisation.

Diamond drillhole KSD027 was designed to further test the high-grade quartz-sulphide vein system at Sua within the existing resource footprint. The hole intersected multiple high-grade and bonanzagrade gold intervals, including a broad zone of 49.47 g/t Au over 4.85m (73.85-78.7m) with internal bonanza-grade sub-intervals up to 175 g/t Au over 0.55m (77.15-77.7m). Additional high-grade zones were intersected near surface (8.55 g/t Au over 1.7m) and at depth (11.2 g/t Au over 0.5m).

KSD027 is the fifth hole from the Company's initial 10-hole diamond drill program at the Sua Prospect within the Idenburg Contract of Work in Papua, Indonesia. The results confirm a 50 m lateral extension of the high-grade zones intersected in holes KSD025 and KSD026. To date, assays have been received for 5 of the 10 holes completed by the Company at Sua.

Hole KSD026 intersected a 4.5m thick zone grading 8.82 g/t Au from 120m, including 51 g/t Au over 0.5m. These results confirmed the down-dip extension of the high-grade zone intersected in historical hole KSD008 (refer to the Company's ASX announcement dated 15 December 2025).

The results from KSD027 are significant in that the high-grade zones intersected were not reported from historical holes KSD012 and KSD016, which were drilled on the same section and intersected the same zone up-dip at shallower depth. No significant assays were reported from hole KSD012, and hole KSD016 intersected four distinct zones of low-grade (<1 g/t Au) mineralisation ranging from 2 to 16m in thickness.

Results from KSD027 indicate that weakly mineralised zones intersected near surface can host significantly higher grades at depth. The high-grade zone intersected in KSD027 remains open down-dip and along strike to the northeast.

Importantly, the high gold grades come from mineralised zones that show little or no supergene alteration and are associated with very low arsenic concentrations.

The Company's Head of Exploration, Mr Tedy Setiabudi has released a video discussing this announcement. Watch the video on our investor hub here:
https://fareast.gold/link/eolgbr

To date, 10 holes (KSD023 to 032) for 1,836m have been drilled by the Company at the Sua prospect (Table 1*). This completes the planned initial drill program at Sua. The program confirmed the occurrence of high-grade gold zones intersected by historical drilling and also the extension of the zones to depth and along strike. Given the success of the initial drill program the Company has approved a focused extension to the Sua drill program which comprises 5 additional diamond holes for a total planned meterage of 1,360m. Refer to the Company's ASX announcement of 17 December 2025.

Assays are pending from the remaining 5 drillholes (KSD028-032) which were located to expand the current defined mineral resource area an additional 150m along strike to the northeast and extend historical mineralised zones an additional 50m down-dip over the current defined resource area (Figure 2*).

Assay results and interpretation for the first 4 holes KSD023 to KSD026 are provided in the Company's ASX announcements of 10 November 2025, 24 November 2025 and 15 December 2025. Holes KSD023 and KSD024 intersected a zone of high-grade gold associated with coarse visible gold indicating the potential to both upgrade and increase the current mineral resource estimate at Sua through a broader infill drill program, Refer to Table 2*. The high-grade zones intersected in these holes remain open along strike and to depth.

An interpreted cross section for hole KSD027 is shown in Figure 3* and a selection of core photos from the highlighted mineralised zone is provided in Figure 4*. Higher-grades of gold mineralisation are consistently associated with an increase in late-stage, coarse pyrite. A long section along the same section line as KSD027 is shown in Figure 5*. The intersected high grade gold zone was also tested by holes KSD028 and KSD029.

Compiled significant assay intervals for FEG drillhole KSD027and the historical hole KSD016 are provided in Table 2*. No significant assays were reported from historical holes KSD009 and KSD012. Table 3* provides individual assays for samples taken from the interval 73.85 to 78.7m. High grade gold mineralisation is associated with intense multiphase deformation, quartz veins and what appears to be a late-stage, overprint of coarse pyrite. The zone remains open to depth and laterally. The type and style of the high grade mineralisation intersected is consistent with that reported on from holes KSD023 to KSD026. Importantly the high gold grades come from mineralised zones that show little or no supergene alteration and are associated with very low arsenic (As) concentration (<100ppm).

Based on their assessment of the historical data SMGC estimated an inferred mineral resource of 2.5 million tonnes at an average grade of 3.7 g/t gold (Au) for a total of 296,000 ounces of gold within the Sua prospect. Refer to the SMGC report titled 'JORC Resource Report, PT Iriana Mutiara Idenburg, November 2024' released by the Company in ASX announcement of November 14, 2024.

Based on the results of the completed drilling at Sua, future drilling is planned to test extensions of the mineralised zones down-dip and along strike, with the aim of assessing the potential to increase the current Sua Mineral Resource estimate.

An infill drill program is also under consideration in order to upgrade the current JORC inferred resource to indicated classification. The ongoing surface mapping program over the Kwaplu prospect along strike to the southwest of Sua will define targets for an initial scout drill program.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/4099HMV0

About Far East Gold Ltd:

Far East Gold Ltd (ASX:FEG) is an Australian junior exploration company led by some of the biggest names in Australian mining. The company has secured the commercial rights for the acquisition, exploration and development of six advanced gold and copper projects in Indonesia and Australia, including one with a JORC estimate of 996,000 ounces of gold and 190 million pounds of copper.

Source:
Far East Gold Ltd

Contact:

Justin Werner Chairman e:justin.werner@fareast.gold Shane Menere Chief Executive Officer e:shane.menere@fareast.gold m: + 61 406 189 672 + 62 811 860 8378 Tim Young Investor Relations & Capital Markets e:tim.young@fareast.gold m: + 61 484 247 771