Far East Gold (ASX:FEG) expands Idenburg Project with high-grade discoveries and 29 priority targets

Far East Gold Limited (ASX:FEG) has announced major progress at its Idenburg Project in Indonesia, with new high-grade mineralised zones identified at North Bermol and the number of high-priority exploration targets doubled following a structural evaluation.

These results highlight the potential for district-scale discoveries across a tenement located within one of the world’s most prospective gold belts.

To provide clarity on the developments, Chief Executive Officer Shane Menere has answered a series of questions that address the significance of the discoveries, the expanded exploration footprint, and the next steps for the company.

What is the significance of the new gold-bearing zones at North Bermol?

The new mineralised zones at North Bermol are important because they demonstrate both high grades and lateral continuity, which builds confidence in the broader geological model.

“Assay results from grab samples taken from quartz sulphide veins returned up to 25.9 grams per tonne gold and 7.8 grams per tonne silver across a 15 metre outcrop.”

The mineralisation dips shallowly at around 20 degrees and mirrors the style already observed at Bermol, suggesting the two areas are linked within a four kilometre long mineralised corridor.

Mapping has also uncovered northwest trending structures that differ from those previously identified at Bermol, providing fresh exploration opportunities within the same system.

How do these results change the exploration potential of the Idenburg Project?

Exploration potential at Idenburg has expanded significantly with the identification of 14 new high-priority targets, bringing the total to 29.

The ranking system developed through the structural evaluation provides a clear roadmap, with 11 Priority 1, 8 Priority 2, and 10 Priority 3 targets.

“North Bermol itself has been identified as a Priority 1 target, and the discovery of high grades in this area validates the structural model that underpins the evaluation.”

With 95,280 hectares under tenure, this broader pipeline of prospects ensures the company can progress multiple exploration fronts, while focusing its immediate efforts on the most prospective zones.

What is the scale of opportunity in terms of resource potential?

Independent studies conducted in 2024 estimated an exploration target ranging between 189,000 ounces at 1.0 grams per tonne gold and 7.2 million ounces at 6.1 grams per tonne gold.

These figures were based on the 15 known prospects at that time, but the identification of 14 additional targets in 2025 has expanded the scope considerably.

“These targets remain conceptual and are not classified as Mineral Resources under the 2012 JORC Code.”

The style of mineralisation across the project has consistently been classified as orogenic lode gold, which is supported by geological mapping, petrographic analysis, and surface sampling.

Assay results across multiple prospects continue to confirm the presence of high-grade gold.

What are the next steps following these discoveries?

The immediate priority is to extend detailed mapping and sampling at North Bermol so that these new zones can be integrated into the Phase 1 drill program already underway. At the same time, high-priority targets outside of Bermol will be advanced to drill-ready status.

“Nova recorded surface assays of 3.9 grams per tonne and 9.0 grams per tonne gold over one metre, and Tekai recorded chip samples from quartz veins located 800 metres apart assaying 58.2 grams per tonne and 79.8 grams per tonne gold.”

These results show that prospective zones extend well beyond Bermol, and with at least 11 Priority 1 targets already ranked, the company has a strong framework to drive systematic exploration and incorporate multiple prospects into upcoming drill campaigns.

How does the Idenburg Project compare with other world-class deposits in the region?

The Idenburg Project sits within a highly mineralised belt that hosts some of the world’s largest gold and copper systems.

The 95,280 hectare tenement is located in the same region as Grasberg, with more than 70 million ounces of gold, Porgera with over 7 million ounces, and Frieda River and Ok Tedi, each with approximately 20 million ounces.

The geological and structural controls observed at Idenburg, including shear zones and fault-related quartz sulphide mineralisation align with those seen in these globally significant deposits.

The combination of 29 high-priority targets and confirmed high-grade assays reinforces Idenburg’s potential to deliver discoveries on a district scale.

Looking ahead

The latest discoveries at North Bermol and the expansion of high-priority targets across the Idenburg Project provide compelling evidence that Far East Gold is advancing a project with genuine district-scale potential.

With a structured framework now in place and multiple zones demonstrating strong results, the company is positioned to accelerate its exploration program and rapidly progress new targets into drilling.

The work planned across the highest-ranked prospects will ensure discoveries can be integrated into drilling as efficiently as possible, while maintaining a consistent focus on building the geological model across the broader tenement.

Located within one of the world’s most prolific mineral belts, the Idenburg Project continues to strengthen its case as a future hub of large-scale gold discovery.

As Chief Executive Officer Shane Menere highlights through these responses, the progress achieved so far is only the beginning, and the company remains focused on unlocking further value as exploration advances.

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