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FEG - Far East Gold

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Far East Gold is a copper and gold exploration company that has secured commercial rights for exploration and development for six assets; three in Indonesia and three in Australia. These assets comprise:

The Woyla Copper Gold Project - a highly prospective 6th generation Contract of Work in the Aceh region of North Sumatra, previously explored by Barrick Gold (1996-1998) and then by Newcrest (1999-2002). The project is situated adjacent to Baru Gold’s large deposit at Miwah that contains 3.1Moz of NI 43-101 compliant gold resource and 8.85Moz of silver. Far East Gold has secured the right to acquire 80% economic interest in the Woyla project.

The Trenggalek Copper Gold Project is an advanced 12,813 ha IUP OP that is highly prospective for island arc-type epithermal and porphyry-related gold and base metal deposits with 17,786m of drilling completed. Far East Gold has secured the right to acquire 100% economic interest in the Trenggalek project.

Wonogiri Copper Gold Project has 21,771m of drilling completed and a JORC 2012 resource estimate of 533Koz of gold, with a cut off 0.5g/t at the Randu Kuning deposit. This also equates to 996,500 ounces of gold and 190 million pounds of copper, or 1.15 million ounces AuEq with a cut off 0.2g/t. Far East Gold has secured the right to acquire a 100% economic interest in the Wonogiri project.

The Hill 212 Gold Project is secured through an up-front Earn-In Agreement with Ellenkay Gold Pty Limited (Ellenkay) which grants Far East Gold the ability to acquire up to a 90% interest in the project. Located in the highly prospective Drummond Basin, a 2.5km epithermal gold vein and breccia deposit has been identified with 730m of exploration drilling already performed.

The Blue Grass Creek Gold Project is an exploration tenement in Central Queensland, Australia. Far East Gold has secured the rights to acquire up to a 90% interest in the project through an up-front Earn-In Agreement with Ellenkay. The project directly adjoins the Hill 212 tenement and early-stage exploration activities indicate an extension of the Hill 212 epithermal gold vein and breccia deposits into this tenement.

The Mount Clark West Copper Gold Project is also secured through an up-front Earn-In Agreement with Ellenkay which grants Far East Gold the ability to acquire up to a 90% economic interest in the project. The site is located in the Connors Arc with data identifying a potentially large-scaled porphyry system coincident with Cu-Au-Mo chemistry. Drilling of 4 holes for 1,283m suggesting the location proximal to a mineralized porphyry system.

It is anticipated that FEG will list on the ASX during January 2022.

 

Dona Ferentes

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Listing date14 January 2022 #
Company contact detailshttps://fareast.gold/home
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeFEG
Capital to be Raised$12,000,000
Expected offer close date23 December 2021
UnderwriterNot underwritten. CLSA Australia Pty Ltd (Lead Manager).
 
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