Just a few days after our interview with Brisbane-based gold exploration and base metals company, Far Northern Resources (ASX:FNR) (click here to view), the company wasted no time in unveiling a noteworthy discovery at its Empire Project in Northern Queensland.
The Empire Project, located 34 kilometers west of Chillagoe in North Queensland, spans an area of 252 hectares and holds a JORC 2012 Resource. Far Northern Resources (ASX: FNR) plans to conduct 5000 meters of drilling over the next two years to further explore its potential.
Recent reconnaissance efforts away from the known resource area have yielded promising results. High-grade copper and gold rock chip samples collected from mineralized outcrops and old prospector scratchings extended the strike of known mineralization by an additional 750 meters.
Key findings from the recent exploration activities include:
Mineral Resource Estimate: The Empire Project currently hosts a Mineral Resource Estimate of 22,505 ounces of gold (AuOz), detailed in the prospectus on page 14.
Assay Results: Rock chip assays returned notable grades, including up to 12.64% copper (FNRRCS24001) and 4.12 grams per tonne of gold (FNRRCS24002). Additional surface samples revealed copper grades ranging from 2.61% to 11.89% and gold grades from 0.70 grams per tonne to 2.16 grams per tonne.
Cameron Woodrow, the Managing Director of Far Northern Resources, expressed optimism regarding the recent discoveries, stating, “Far Northern Resources has been exploring this area for some time, and it is pleasing to release some very exciting new copper and gold results which clearly show there is a much bigger picture at play at our Empire Project. We are excited to now have the funding to get on the ground and drill out the potential for what is shaping as a nice copper-gold project in a proven copper-gold mining area.”
The discovery of high-grade gold and base metals at the Empire Project marks a significant milestone for Far Northern Resources, showcasing the company's dedication to unlocking the full potential of its mineral assets in Northern Queensland. Further exploration and drilling activities are anticipated as the company continues to investigate this promising mining area.
