Far East Gold Limited (ASX: FEG) (“Far East Gold” or “the Company”) has reported a major development in its flagship Idenburg Project in Papua, Indonesia, with multiple new zones of high-grade gold mineralisation identified across the North Bermol, South Bermol, and Nova prospect areas.
The Company’s detailed geological mapping and rock sampling have confirmed the presence of quartz–sulphide veins hosted in low-angle shear and thrust faults structures already known to contain gold at North Bermol. This discovery reinforces the district-scale potential of the Idenburg Project and highlights the continuity of mineralisation across multiple zones.
Key Assay Results Highlight Strong Potential
Recent surface rock sampling has returned high-grade gold assay results from all three prospects:
- North Bermol: Up to 22.1 g/t Au and 11.8 g/t Ag
- South Bermol: Up to 7.1 g/t Au and 2.6 g/t Ag
- Nova Prospect: Up to 8.1 g/t Au and 2.1 g/t Ag
These high-grade samples were collected from quartz–sulphide zones within interpreted low-angle shear and thrust faults, confirming the same mineralised structures intersected by drilling at Bermol and North Bermol.
Mapping has revealed additional outcropping sulphide-bearing quartz veins and shear zones across the Bermol district, indicating that mineralisation extends beyond known targets.
Head Indonesian Geologist, Mr Pak Tedy Setiabudi said:
“We have been doing the tile mapping and rock sampling across three prospects — North Bermol, South Bermol, and Nova — and the results line up well with our model. From North Bermol, rock chip surface sampling returned up to 22.1 grams per ton gold, South Bermol up to 7.1 grams per ton gold and from Nova up to 8.1 grams per ton gold. Geologically, it’s the same story repeating in a good way that quartz–sulphide veins developed in low-angle shear and transduce the same structural style we are drilling.”
North and South Bermol: Strengthening the Structural Model
The North Bermol prospect continues to stand out, with assays reaching 22.1 g/t gold, the highest from the current program. The South Bermol prospect, located along the southern extension of a 4 km-long structural corridor, returned equally promising grades, further confirming the geological model.
The repetition of these mineralised zones across prospects demonstrates the scale of the gold system at Idenburg. The northwest-trending shear zones hosting the mineralisation are now recognised across other areas, opening up opportunities for future drilling and expansion.
“Seeing that the same mineralisation styles show up across multiple prospects gives us confidence that this is a district-scale system, not just small localised pockets,” added Mr Setiabudi.
Figure 4: Head Indonesian Geologist, Pak Tedy Setiabudi, explaining details about the Idenburg Project
The Nova Prospect – A Promising Extension
Initial mapping at the Nova prospect, about 4 km north of the Sua prospect, has identified quartz–sulphide veins hosted within low-angle shear zones. Similar mineralisation style was also observed at North Bermol.
Historical exploration had already reported gold-bearing soil anomalies over a 300-metre section at Nova, with rock samples returning up to 9.06 g/t gold. Recent results confirm the trend, with assays of 5.42 g/t, 8.07 g/t, and 8.12 g/t Au.
Figure 5: Map showing the Nova prospect with rock sample assay locations and historical soil anomalies.
“The North Bermol results strengthen our view of the mineralisation corridor running from North Bermol to Main Bermol and now continuing into South Bermol. Nova also sits on the same structural corridor as Kuaplu in the west, and Sua, and now we have Nova, which adds significant weight to the larger connected trend we are targeting,” said Mr Setiabudi.
Figure 6: Images showing rock samples from the Nova prospect outcrops.
District-Scale Gold System Confirmed
Far East Gold’s comprehensive fieldwork confirms that the Idenburg Project hosts multiple shear-related gold systems. The similarities in structural style, mineralisation, and assay values across different prospects reinforce the Company’s interpretation of a district-scale mineralisation corridor.
Two drill rigs are currently operating at North Bermol and Sua, and ongoing drilling continues to deliver encouraging results. The latest data supports the Company’s goal to expand resource estimates and uncover new high-grade targets across its Idenburg tenement.
Global Gold Market Context
This strong exploration momentum coincides with a favourable global gold market. According to the World Gold Council, total Q2 gold demand (including OTC investment) rose 3% year-on-year to 1,249 tonnes, equivalent to US$132 billion, a 45% jump in value terms.
Inflows into global gold-backed ETFs have surged amid uncertainty in trade policy, geopolitical risks, and a rising gold price. Bar and coin investors are also active, marking the strongest first half for retail investment since 2013.
Meanwhile, central banks added 166 tonnes to official gold reserves in Q2, maintaining their position as a key pillar of demand. Jewellery consumption saw reduced tonnage but increased spending, while gold used in technology was buoyed by demand from AI-related applications.
Globally, about 3,300 tonnes of gold were mined in 2024, with Australia, China, and Russia leading production. Australia, with 64,000 metric tonnes of reserves, remains one of the top three gold-rich nations.
Gold in Technology and Jewellery
Gold’s versatility extends beyond investment. It is used in electronics, telecommunication, and dentistry, thanks to its conductivity and corrosion resistance.
In 2024, technology accounted for about 7% of global gold demand. However, the jewellery sector remained dominant, representing 43.68% of global demand, or roughly 2,012 tonnes.
Figure 7: Global distribution of gold demand by sector in 2024 [Statista]
In Australia, the jewellery market was valued at US$3.68 billion in 2025, with a projected 5.32% annual growth rate through 2030. Non-luxury jewellery accounted for 77% of sales, and demand for opal jewellery reflecting Australia’s unique gemstone heritage continues to rise.
Figure 8: Infographic or photo depicting gold jewellery and industrial uses, showcasing gold’s dual role in luxury and technology.
Market Performance and Trading Activity
Far East Gold’s share performance reflects growing market confidence.
- Last Price: $0.155
- Market Capitalisation: $56.88 million
- 52-week Range: $0.110 – $0.200
- 1-Week Performance: +6.90%
- 1-Month Performance: +19.23%
The 5-day trading volume chart illustrates strong investor engagement, with volume peaking at 570.2K shares on 13 November, well above the average. The significant trading spike underscores positive investor sentiment following the Company’s high-grade discovery update.
Figure 9: 5-day trading volume chart showing trading activity from 7 to 13 November, with the highest volume on the 13th. [ASX]
Investor’s Outlook
Far East Gold’s ongoing success at Idenburg strengthens its reputation as a technically driven explorer with district-scale potential. The combination of high-grade assays, supportive market conditions, and disciplined exploration strategy positions the Company for substantial growth.
As drilling and mapping continue, investors can anticipate steady news flow from North Bermol, South Bermol, and Nova, all of which demonstrate strong continuity of mineralisation.
With global gold demand fuelled by investment and central bank activity, and Australia maintaining a strong presence in the global gold market, the outlook for Far East Gold (ASX: FEG) remains highly positive.
