Far East Gold Ltd: High-Grade Gold Mineralisation Found Along Trend of the Sua Prospect and Project Update

03:12 Uhr  |  ABN Newswire

Brisbane, Australia - Far East Gold Ltd. (ASX:FEG) (OTCMKTS:FEGDF) reported that recent detailed geological mapping at the Kwaplu and Sikrima prospects has identified additional gold-bearing rock boulders returning high-grade gold assays. Significantly, FEG geologistsmapped the same distinctive geology and style of gold mineralisation previously observed during mapping of the Company's high-grade Sua prospect - the same geological setting that hosts the growing Sua gold resource. The style and type of mineralisation logged at Kwaplu and Sikrima is consistent with that intersected in drilling at the Sua prospect, reinforcing the prospectivity of the broader corridor.

These results add to FEG's growing confidence that the high-grade gold-bearing shear / vein system recognised at Sua has potential of extending along the approximate 3km structural corridor that links the Sikrima and Sua prospects (Figure 1*).

As demonstrated by ongoing drilling at the Sua prospect, zones of high-grade gold mineralisation can occur both along strike and down-dip of lower-grade mineralisation, highlighting the potential of this underexplored corridor and the need to thoroughly drill test defined mineralised zones.

Detailed mapping will continue with the objective of defining priority targets to drill test.

KEY RESULTS

Kwaplu Prospect

o Surface boulder grab samples returned assays:

- 45.62 g/t Au with 52 g/t Ag
- 23.60 g/t Au with 10.8 g/t Ag
- 21.45 g/t Au with 2.5 g/t Ag

Sikrima Prospect - The samples are consistent in rock type and reported gold assays with historical assay results reported from surface rock assays in the Sikrima prospect area (See ASX Announcement dated 16 December 2025).

o Surface boulder grab sample returned assays:

- 16.07 g/t Au
- 11.65 g/t Au
- 7.39 g/t Au

Samples were collected from within zones of interpreted shear and thrust faults supported by high-grade gold assays reported from historical exploration, indicating gold-mineralised fault / shear structures occur over an extended distance and underscoring the strong potential for additional gold discoveries through continued drill testing. (See Figures 2 and 3*).

Project Development Update

In addition to the UKL-UPL environment approval FEG secured for the Idenburg Project (see ASX Announcement dated 17 March 2026), the Company is pleased to announce that it has recently received the Governor Recommendation approval for the project in relation to its application madeon 15 December 2025. The Governor's Recommendation is a mandatory prerequisite to formally apply for the Persetujuan Penggunaan Kawasan Hutan (PPKH) (or "Borrow-Use") for the approved area contained in the UKL-UPL with the Indonesian Ministry of Environment and Forestry. Securing this regional endorsement is the final step required to lodge the PPKH and will allow the Company to continue its pathway to development of the Idenburg project.

In parallel with its exploration activities, the Company has commenced work associated with the Indonesian Feasibility Study ("FS") for the Idenburg Project, which forms a key component of the pathway to increasing FEG's ownership interest in PT Iriana Mutiara Idenburg from 51% to 80%. These workstreams include resource definition and conversion activities, LiDAR survey acquisition to support geological modelling and mine planning, geotechnical and hydrological investigations, environmental and permitting activities, civil and infrastructure studies, together with ongoing metallurgical optimisation and mine design work.

The forthcoming Scoping Study, which is expected to be finalised shortly, will provide the foundation for a number of ongoing and further feasibility study workstreams.
The Company believes these programs will assist in increasing geological confidence within portions of the current Mineral Resource, support future conversion of Inferred Resources into higher confidence categories and provide key technical inputsrequired for completion of the Indonesian FS. FEG's objective remains to continue advancing these workstreams through calendar year 2026 and satisfy the requirements associated with increasing its ownership interest in the Idenburg Project to 80%.
Completion of the Indonesian Feasibility Study is expected to support progression of the Idenburg Contract of Work through its current stage of project development, subject to the relevant regulatory approvals.

Results of Detailed Mapping

The Company has maintained a program of detailed geological mapping and surface rock sampling over select areas within the Idenburg property area. This work builds on the review and assessment of historical exploration at Idenburg prepared by SMGC and discussed in their Independent Exploration Target Report for the Idenburg Property released by the Company in ASX announcement of August 21, 2024. The Sua prospect has been the primary focus of recent exploration efforts and has resulted in a significant expansion of the JORC 2012 Mineral Resource Estimate at Sua from 296,000 ounces of gold estimated in 2024 to 514,000 ounces as reported in the ASX announcement of May 5, 2026. See Appendix 1. The interpreted structural corridor from Sua trending west to Sikrima has been lightly explored and these new assay results indicate that further exploration is warranted.

The Sikrima drillhole cross section shown in Figure 2 shows the historical hole SKD002 and assays from a reported drilled intersection. The section also shows the occurrence of several very high-grade surface rock sample assays as reported in historical exploration reports. The results of historical exploration within the Sikrima project are summarised by SMGC in their Independent Exploration Target Report for the Idenburg Property which was released by the Company in ASX announcement of August 21, 2024. The much lower grade of (hypogene) gold intersected in the drillhole beneath the very high-grade surface rock assays would infer that supergene alteration was responsible for highly localized zones of secondary gold enrichment in rock near surface. And while this might have had some role to play it is apparent in Figure 3 that high grades of gold reported in therock sample here-in show relatively low to moderate supergene affects. Furthermore, the occurrence of the rock boulder (BF001217) upslope of the drillhole suggests that there may be additional zones of higher grade gold mineralisation within as yet untested shear and fault-related structures within the Sikrima and also perhaps the Selia prospect areas (Figure 2).

In contrast to the Sikrima surface rock samples, those from the Kwaplu prospect area show intense oxidation and thus supergene enrichment might have had a greater role in producing some of the higher grade gold assays reported. However, there does appear to be a different style of mineralisation at Kwaplu as inferred from the much higher Ag concentrations, which are also much higher than seen within gold-bearing zones at Sua. This may perhaps reflect a different level of erosion between the 3 prospect areas.

The Company will continue with the current detailed mapping and surface rock sampling to identify new zones of gold mineralisation within the Idenburg prospect areas. Drill targets will be defined and priority targets will be tested as part of the current Phase 1 scout drill program.

Idenburg Mineral Resource Estimate

The Company confirms that it is not aware of any new information or data that materially affects the information included in the 5 May 2026 (Idenburg JORC MRE increases to 780,000 oz of Gold) Idenburg Mineral Resource estimate and all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed when referring to its resource announcement made on 5 May 2026. The Company confirms that the form and context in which the Competent Person's findings are presented and have not been materially modified from the original market announcement.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/NLNVQ083

About Far East Gold Ltd:

Far East Gold Ltd (ASX:FEG) (OTCMKTS:FEGDF) 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. The Company is underpinned by combined JORC resources of 1.54Moz gold and 190Mlb copper, with ongoing drill programs aiming to significantly increase these resources.

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 and Capital Markets e:tim.young@fareast.gold m: + 61 484 247 771