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Far East Gold Ltd ( (AU:FEG) ) has shared an update.
Far East Gold has reported further bonanza-grade gold results from its ongoing 10-hole diamond drilling campaign at the Sua Prospect in Papua, Indonesia, with hole KSD027 returning multiple high-grade intercepts, including 49.47 g/t gold over 4.85 metres with sub-intervals up to 175 g/t. The new hole extends high-grade mineralisation laterally by 50 metres from previous drilling, confirms continuity of structure and grade at depth beneath weaker historic intercepts, and reinforces the view that the Sua vein system is a fertile, largely untested orogenic lode with significant upside potential for expanding the existing resource base and enhancing the project’s attractiveness to investors and other stakeholders.
The most recent analyst rating on (AU:FEG) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Far East Gold Ltd stock, see the AU:FEG Stock Forecast page.
More about Far East Gold Ltd
Far East Gold Limited is an Australia-listed gold exploration company focused on developing high-grade gold resources in Papua, Indonesia. The company’s Idenburg Project, including the Sua Prospect within the Idenburg Contract of Work, hosts a JORC (2012) inferred mineral resource of approximately 540,000 ounces of gold at an average grade of 4.1 g/t, with the Sua Prospect contributing an estimated 296,000 ounces at 3.7 g/t. Far East Gold is targeting orogenic lode-style gold systems, aiming to expand high-grade resources through step-out drilling within a 5 km-long shear zone that is considered highly prospective for further discoveries.
Average Trading Volume: 196,821
Technical Sentiment Signal: Sell
Current Market Cap: A$53.22M
For a thorough assessment of FEG stock, go to TipRanks’ Stock Analysis page.