Far East Gold Limited announced that on the back of the results from the CSAMT survey completed in mid 2021, the Company has identified the potential for an additional 7.5km of strike length for the low sulphidation vein system at Hill 212. If confirmed by drilling this would extend the vein system to 10km in length. Additionally, on 15 June 2022, the Company concluded a Conduct and Compensation Agreement (CCA) with the Hill 212 tenement landowners. The CCA allows FEG to undertake advanced exploration activity, including drilling for the remaining term of the Hill 212 Exploration Permit. The Company has commenced earth works and track upgrades on site in preparation for drilling. FEG completed a Controlled Source Audio Magnetotellurics (CSAMT) survey in June 2021. The survey was completed by Zonge Engineering with Southern Geoscience Consultants (SGC), providing survey QAQC, interpretation of the results and target delineation.
The results of this work defined several new linear features coincident with and adjacent to known vein occurrences. The survey results also indicate the potential for depth continuity of the mapped subvertical veins along the 2.5 km strike length of the surveyed area. The company has used the results of the CSAMT survey to plan the current drill program. An interpretation of ASTER and LANDSAT satellite imagery was completed by Earthscan for FEG in 2021. Earthscan processed the images to provide lithological information and to identify alterations that are commonly associated with low sulphidation epithermal type veins systems, like Hill 212. As part of this work, Earthscan identified 11 interpreted targets which will be validated as part of the field mapping program and then prioritized for testing as part of the planned FEG drill program. The spectral anomalies also suggest that the structural corridor extends into the Company's adjoining Blue Grass Creek tenement and the potential for additional vein-type mineralization. These features represent potential drill targets which will be field checked and prioritized to be tested as part of the planned FEG drill program.