Far East Gold acquires 90% interest in Reedy Creek Project
February 28, 2024 at 03:01 pm EST
Share
(via NewsDirect)
Far East Gold Ltd (ASX:FEG) CEO Shane Menere joins Jonathan Jackson in the Proactive studio to discuss the details of the company’s recent acquisition of a 90% interest in the Reedy Creek Project, which the company has described as the ‘missing link’. Menere explains why this addition is crucial for the company and its strategic implications. He covers the proximity of the Reedy Creek Project to Newmont's Mount Coolon Project, highlighting the geological similarities and potential advantages this presents and discusses improvements in the commercial terms for Far East Gold's existing Australian projects, outlining the anticipated benefits. Menere also talks about the company's efforts to obtain exploration status from the Queensland government and the expected news flow to come rom both the company’s Indonesian and Australian assets.
“It was a strategic decision by Far East Gold to acquire the Reedy Creek tenement and now join Hill 212 and Bluegrass Creek into a large single project by securing the ‘missing link’ that covers the identified structural corridor between these projects," Menere said.
"We are excited by the current neighbouring exploration underway by Newmont for them to earn into the Mount Coolon area, reinforcing the remarkable prospectivity of our projects."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Far East Gold Limited is a copper and gold exploration company with projects in Australia and Indonesia. Its projects include Woyla Copper Gold, Trenggalek Copper Gold, Wonogiri Copper Gold, Mount Clark West Copper Gold, Hill 212 Gold, Blue Grass Creek Gold and Reedy Creek. The Woyla Copper Gold Project consists of an area of 24,260 hectares (ha). The Woyla Copper Gold Project prospects include Anak Perak Prospect, Aloe Eumpeuk Prospect, Aloe Rek Prospect, and Beurieung Porphyry Copper Prospect. The Trenggalek Copper Gold Project is an advanced 12,813 ha Izin Usaha Pertambangan-Operasi Produksi (IUP-OP) mining license for operation and production located in East Java, Indonesia. The Trenggalek Copper Gold Project prospects include Sentul Prospect, Sumber Bening Prospect, and Buluroto Prospect. The Wonogiri Copper Gold Project is an Advanced 3,928 ha IUP (Exploration Mining Permit) for porphyry and epithermal gold and base metals. The Reedy Creek Project covers over 3,840 ha.