Brisbane, Australia, May 15, 2026 - (ABN Newswire) - Far East Gold Limited (ASX:FEG) (OTCMKTS:FEGDF) announced that the Company's Scoping Study for its flagship high-grade Idenburg Gold Project is well advanced. The Company engaged Mining One Consultants to complete a Scoping Study for potential mine development options at the Company's Idenburg gold project, located in Papua Province, Indonesia.
The Company has recently completed an updated JORC Mineral Resource Estimate for Idenburg, delivering a 44% increase to 780,000 ounces of gold at 3.1 g/t Au following the Company's recent drilling program.
FEG is well-positioned to commence the next phase of drilling at the Sua prospect, with the program specifically designed to support the ongoing Scoping Study and the Company's ongoing evaluation of a pathway toward a potential Indonesian Feasibility Study targeted for completion late 2026.
The drilling program is expected to focus on expanding mineralisation while also increasing geological confidence through potential conversion of portions of the existing Inferred Resource into Indicated classification, and where appropriate, Measured classification, to support future mine planning, development studies and economic modelling.
HIGHLIGHTS:
- The Idenburg Scoping Study is well advanced, assessing potential development options for the project to inform the Company's ongoing evaluation of a pathway toward a potential Indonesian Feasibility Study targeted for late 2026.
- The Idenburg JORC Mineral Resource increased 44% to 780,000 ounces of gold @ 3.1 g/t Au following recent drilling.
- The next phase drill program at the Sua prospect is scheduled to commence shortly and is designed to support mine planning, economic modelling and resource confidence upgrades as part of the Company's broader pathway toward a potential Indonesian Feasibility Study, subject to results.
- The Company continues to consider staged development concepts, including the assessment of potential early development scenarios and associated technical and project-level risks as part of the Scoping Study.
The Study will assess capital and operating cost estimates, mine design, infrastructure, tailings management, and approvals, with a focus on assessing potential start-up and longer-term development scenarios.
Scoping Study
The Scoping Study is an early-stage assessment of development options for the Idenburg Project. There is no certainty it will result in a viable outcome.
Managing Director & CEO Shane Menere commented: "This Scoping Study is an important step in advancing our understanding of the development potential at Idenburg. The study will evaluate a range of development options, including staged approaches and potential early production scenarios, and support the Company's ongoing assessment of a pathway towards a long-life operation.
Importantly, the next phase drill program at Sua is being designed to complement the Company's ongoing technical and development assessment workstreams as we progress toward an Indonesian Feasibility Study.
With a materially larger high-grade resource now defined, strong metallurgical outcomes, improving permitting conditions and direct infrastructure access, we believe Idenburg is continuing to demonstrate the characteristics of a potentially significant long-life gold development project within one of the world's premier mineral belts."
CEO Shane Menere has released a video discussing this announcement. Watch the video on the investor hub here: https://fareast.gold/link/eNwBkr
The Idenburg Gold Project
The Idenburg Project covers 95,280 ha under a 6th Generation CoW (Contract of Work), strategically located in the same province as world-class gold and copper deposits such as Grasberg mine (+70 Moz Au), Porgera Gold Mine (+20 Moz Au), Frieda River (20 Moz Au) and Ok Tedi Mine (20 Moz Au).
The Idenburg Project has a JORC 2012 inferred mineral resource of: 780,000 oz gold at 3.1 g/t Au. The JORC resource estimate is from only 4 of the 15 historical prospect areas identified.
The next phase drilling program at Sua is expected to focus on both resource expansion and resource confidence conversion, with the objective of supporting future mine optimisation studies and advancing portions of the current Inferred Resource toward potential Indicated and Measured classifications. The program forms part of the Company's broader work program toward a potential Indonesian Feasibility Study targeted for late 2026.
The project has direct access to infrastructure via the Trans-Papuan Highway, enhancing logistical efficiency for development. The Idenburg Project is strategically positioned within one of the world's most prolific gold and copper belts. Its large, underexplored landholding combined with an existing high-grade JORC resource and improving regulatory environment provides FEG with a strong geological and strategic foundation for future value creation.
Idenburg Mineral Resource Estimate
For the JORC Mineral Resource estimation SMGC completed a thorough review of the available Idenburg geological database to assess if the data was suitable to support the estimating and reporting of gold resources by a Competent Person according to the 2012 JORC Code. Based on their interpretation SMGC determined that the necessary criteria were met. SMGC determined that the zones of mineralisation delineated within the Sua, North Bermol, Bermol and Mafi prospects areas could be classified as a 'Mineral Resource' according to the 2012 JORC Code standards (Table 1)*.
*To view tables and figures, please visit:
https://fareast.gold/announcements/7539164
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.
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
Source:
Far East Gold Ltd
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