IDENBURG GOLD

GOLD PROJECT
PROJECT ACQUISITION
ACQUISITION
IDENBURG GOLD PROJECT ACQUISITION

ASX ANNOUNCEMENT
ASX
14 ANNOUNCEMENT
November 2024
11 JULY 2024

540,000 oz GOLD at 4.1 g/t INITIAL JORC MINERAL

RESOURCE ESTIMATE AT IDENBURG
The directors of Far East Gold (FEG or the Company) are pleased to announce an independent initial
total JORC inferred resource estimate (MRE) of 540,000 ounces of gold @ 4.1 g/t and 468,000
ounces of silver at 3.6 g/t at the Company’s Idenburg Project. This initial JORC resource estimate
was determined by SMG Consulting from 3 of the 14 prospects identified within the 95,280 ha
Idenburg CoW. The inferred resource estimate was achieved without any additional drilling by
completing additional topographic surveying over the prospect areas to provide more precise data.

HIGHLIGHTS:
• Total inferred JORC resource estimate of 540,000 ounces gold at a grade of 4.1 g/t and
468,000 ounces of silver at a grade of 3.6g/t.
• The total resource is comprised from the Sua, Bermol and Mafi prospects using historical
drillhole data supplemented by newly acquired topographic survey data and revised 3D
deposit modelling. These prospects are 3 of the total 14 prospect areas identified by
historical exploration and determined to be valid resource targets by SMGC.
• Previous exploration focused on only about 30% of the total CoW area and most of the
property remains vastly under-explored and holds potential for an expansion of the
contained resources.
• The resource estimates are consistent with the initial exploration targets determined by
SMGC in the June 2024 Exploration Target Report released by the Company on August
21, 2024.
• The Company is confident of expanding the initial JORC gold-silver resource through
a planned detailed surface mapping and sampling program followed by a Phase 1 drill
program, including within the 3 prospects mentioned in the report.
• CEO & Director Shane Menere has released a video discussing this announcement. Watch
the video on our investor hub here: https://investorhub.fareast.gold/link/lyaZle

FAR EAST GOLD ASX ANNOUNCEMENT 1

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

Figure 1: Map showing the location of the Idenburg COW in Papua Indonesia relative to the locations of world class
multimillion ounce gold-rich porphyry copper deposits.

The Idenburg Project is situated within the Keerom and the Pegunungan Bintang Regencies of Papua
(Figure 1), near the border with Papua New Guinea. The all-weather Trans Irian Highway is an
asphalted road from the regional capital of Jayapura that transects the Exploration COW and allows
for relatively easy access and cost-effective logistical support (Figure 2). Compared to other projects
in Papua logistical support is simple and cost-effective especially when compared to the other major
producers in Papua.

Field observations show that the basic style of gold mineralisation as determined from mapping and
drill core logging is of the orogenic gold type, also referred to as mesothermal lode gold. The presence
of coarse gold with a high nugget value is inherent to deposits of this type and will need to be evaluated
when sampling or assaying. In June 2024, SMGC reported Exploration Targets for all 14 prospects
identified within the Idenburg CoW area. Refer to the independent SMG Consultants (SMGC) report
titled Pt. Iriana Mutiara Idenburg Exploration Targeting Report of June 2024 that was included in the
Company’s ASX announcement of August 21, 2024.

FAR EAST GOLD ASX ANNOUNCEMENT 2

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

Figure 2: Map showing the location of the Idenburg COW and prospect areas identified by historical exploration. The Sua,
Bermol and Mafi prospects comprise the current JORC 2012 inferred resource estimate determined by SMGC.

A total of 59 drillholes have been drilled in the Idenburg project area, consisting of 22 in Sua, 7 in
Bermol, 23 in Mafi, 3 in Selia, and 4 in Sikrima (Figure 2). Drilling was conducted in two periods. The
first period occurred prior to Avocet's involvement in 2000, during which a total of 23 holes were
drilled—all in the Mafi Prospect. The second period took place between 2005 and 2007 and was
carried out by the Avocet and Idenburg Joint Venture. Refer to an independent review of historical
exploration results by SMGC in the Company’s ASX announcement dated August 21, 2024.

For the JORC Mineral Resource estimation SMGC completed a thorough review of the historical
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 with the exception of additional
topographic data and some additional QA/QC sampling of historical drill core. With completion of this
additional work SMGC determined that the zones of mineralisation delineated within the Sua, Bermol
and Mafi prospects areas could be classified as a `Mineral Resource’ according to the 2012 JORC
Code standards as stated below:

FAR EAST GOLD ASX ANNOUNCEMENT 3

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

A ‘Mineral Resource’ is a concentration or occurrence of material of intrinsic economic interest in or

on the Earth’s crust in such form, quality and quantity that there are reasonable prospects for eventual
economic extraction. The location, quantity, grade, geological characteristics and continuity of a
Mineral Resource are known, estimated or interpreted from specific geological evidence and
knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into
Inferred, Indicated and Measured categories (2012 JORC Code)

Generally, the parameters which are considered for classification of the Mineral Resource are the
distribution and density of drill data, confidence in interpreted geological continuity of the mineralised
zones, and confidence in the resource block estimates. SMGC used the historical exploration data to
build three geological models for the Sua, Bermol and Mafi Prospects. In interpreting the 2012 JORC,
SMGC was of the opinion that the deposits in the three prospective areas could only be categorized
as Inferred Resources (Table 1). SMGC estimated the ore tonnage for the three prospect areas using
a cut-off grade of 0.1 g/t Au with no grade capping applied to the IMI historical assays.

Table 1: Mineral Resource table as estimated by SMGC based on historical exploration data using a cut-off grade of 0.1 g/t Au
with no grade capping applied to the IMI historical assays.

To estimate grades for Sua and Mafi, SMGC applied the Inverse Distance Weighting (IDW) method.
This method assigns a value to a grid node by calculating the weighted average of either all data
points or a selection of neighbouring points distributed in various directions. Each data point’s value
is weighted based on the inverse of its distance from the grid node, squared. The choice of the
exponent’s value determines the degree of localisation in gridding, with higher exponents leading to
a more localised influence of distant points on the value assigned to each grid node. There was no
grade capping applied in the IMI geological modelling.

An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade (or
quality) are estimated on the basis of limited geological evidence and sampling. Geological evidence
is sufficient to imply but not verify geological and grade (or quality) continuity. It is based on
exploration, sampling and testing information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes. An Inferred Mineral Resource has a lower
level of confidence than that applying to an Indicated Mineral Resource and must not be converted to
an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be
upgraded to Indicated Mineral Resources with continued exploration.

FAR EAST GOLD ASX ANNOUNCEMENT 4

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

SMGC created 3 geological models created for the Idenburg JORC resource estimate. The area
covered by the 3 models are: 1) Sua: ~ 900 m x 960 m; 2) Bermol: ~ 1,240 m x 1,280 m; and 3) Mafi:
~ 500m x 460 m. The geological models for each mineral resource area are shown below.

Sua Prospect

The gold mineralisation occurs in a system of boudinage quartz veins with an NNE trend and moderate
NNW dip, hosted by silica-sericite-chlorite-pyrite altered diorite. Calc-silicate veins occur peripheral to
the mineralisation. The quartz veins vary in thickness from a few millimetres up to 3 metres. The
quartz veining is associated with late-stage deformation and many local shears are mineralised with
gold and sulphides. The IMI geologists have observed in the field and in the drill core that the gold
mineralisation also tends to follow meta-lithological contacts, such as the transition zones between
the different metamorphic grades. Gold mineralisation has been interpreted and modelled as a
stacked quartz vein system that dips moderately at around 35 degrees towards the north. The vein
system seems to be associated with the thrusting event and runs parallel to the thrusts as described
above.

A total of 21 wireframes were modelled by SMGC as representation of the known gold-bearing quartz
veins at the Sua Prospect (Figure 3). The wireframes were extended beyond the drilling and trench
information along strike and down dip. The extension distance was established largely on the expected
continuity based on field mapping plus experience with similar style structures. The maximum distance
that wireframes were extended was 50 metres beyond drillholes.

Figure 3: Sua Mineralisation Wireframe Oblique View

FAR EAST GOLD ASX ANNOUNCEMENT 5

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

Bermol Prospect

A well-mineralised quartz-sulphide vein zone has been mapped over 600 metres of strike length and
over a width of 300 metres on the two main NS-trending ridges at Bermol. This is a single thrust plane
that dips at less than 25 degrees to the west and appears to have multiple zones by virtue of both the
topographic effect and faulting. Mineralisation is associated with quartz-pyrite-arsenopyrite "augen"
veins hosted in a tightly constrained envelope of sheared quartz-chlorite-carbonate altered schists. This
is reflected in the high As values in samples collected from Bermol, often exceeding 1%. Vein attitudes
are predominantly conformable with schistosity and foliation trends. Gold mineralisation has been
modelled as a single vein structure that has been downthrown by faulting towards the north on the
western side of the river and outcrops at a higher elevation on the eastern side. This has resulted in 5
discrete vein models. There were 5 wireframes modelled as representation of the known gold bearing
quartz veins at the Bermol Prospect.

Figure 4: Bermol Mineralisation Wireframe Oblique View

Mafi Prospect

Gold mineralisation at Mafi occurs in the oxidised, silicified ultramafics in vuggy, brecciated sulphide-
quartz veins, which form a shallow (10º to 40º) west-dipping tabular zone. The description of the
mineralisation suggests epithermal affinities. If the mineralisation coincides with a thrust, steeper feeder
zones may be present either beneath the thrust, particularly if the mineralisation is restricted laterally.
Outcropping mineralisation has been traced sporadically over a distance of 6 kilometres and possibly
continues further south along the Mafi River Thrust Fault to Bermol, 15 kilometres to the south.

FAR EAST GOLD ASX ANNOUNCEMENT 6

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

SMGC created only one wireframe for the Mafi geological model (Figure 5). Twenty-three (23)
boreholes were drilled, but only 12 holes intersected the wireframe.

Figure 5: Cross Section of Mafi Borehole Sample Au Assays with Mineralization Wireframe

Future Exploration

As part of the mineral resource estimation SMGC also recommended a future work program to expand
the areas of defined mineral resources at the Sua, Bermol and Mafi prospect areas and delineate
additional resources in the other prospect areas identified. SMGC is of the opinion that future work
programs should include:
• A revised interpretation of remote-sensed imagery, incorporating new findings from prospect-level
exploration, should facilitate vectoring towards potential extensions and/or new areas of mineralization
in the Kali Kae, Tekai, Kimly, and North Bermol Prospects.
• Infill and step-out drilling at Sua, Bermol, and Mafi: Infill drilling will provide better constraints on the
initial Inferred Mineral Resource and test for potential steeper feeder structures beneath the thrust.
Step-out drilling will confirm the along-strike continuity of the mineralization and validate the surrounding
Gold Exploration Targets.
• Future infill drilling campaigns should be accompanied by comprehensive metallurgical sampling at
Sua, Bermol and Mafi, including the viability of recovering Pb, Zn and Cu sulphide mineralisation.
• A review of pathfinder elements in drill core and soil databases to ascertain vectors to mineralisation
for use in prospect-scale programs.
• Application of detailed magnetic and IP dipole-dipole geophysics to existing prospects to better
understand the structural controls and potential extensions to zones of known mineralisation.

The Company is currently finalising a comprehensive exploration program to include the SMGC
recommendations.

FAR EAST GOLD ASX ANNOUNCEMENT 7

IDENBURG GOLD PROJECT ACQUISITION
IDENBURG – INITIAL JORC RESOURCE

COMPETENT PERSON’S STATEMENT

The information in this report relates to the results of historical exploration within the Idenburg COW as
compiled and reported by SMG Consultants in the report entitled ‘JORC Resource Report, PT Iriana Mutiara
Idenburg, November 2024’. Excerpts from that report are included here-in in the form and context in which
they were reported. Michael C Corey, who is a Member of the Association of Professional Geoscientists of
Ontario, Canada has prepared this report summary. Michael Corey is employed by the Company and has
sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the
‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

ABOUT FAR EAST GOLD

Far East Gold Limited (ASX: FEG) is an ASX listed copper/gold exploration company with six
advanced projects in Australia and Indonesia. This Release has been approved by the FEG Board
of Directors.

FURTHER INFORMATION:

Sign up to the Far East Gold investor hub to receive important news and updates directly to your
inbox, and to engage directly with our leadership team: https://investorhub.fareast.gold/auth/signup

COMPANY ENQUIRIES
Justin Werner Shane Menere Tim Young
Chairman Chief Executive Officer Investor Relations & Capital Markets

e: [email protected] e: [email protected] e: [email protected]

m: + 61 406 189 672 m: + 61 484 247 771
+ 62 811 860 8378

FAR EAST GOLD ASX ANNOUNCEMENT 8

 APPENDIX 1
Significant Intersection Tables for Sua, Mafi and Bermol Prospect Areas

1. Significant Drill Hole Intercepts From the Second Drill Program at Sua (0.5 g/t Au Cut-Off, 41
g/t Au Top Cut, Maximum Internal Waste of 2m)
 Hole East North RL Azimuth Dip Depth Fro 10 Interval Grade
Comments
ID (m) (m) (m) (') (') (m) m (m) (m) (git Au)
0.0 6.0 6.0 0.83
2m 24.0 3.0 5.91
38.0 45.0 7.0 0.96
KSD011 447,227 9,593,775 389 155 -60 160 52.0 53.0 1.0 0.67
63.0 64.0 1.0 3.43
75.0 76.0 1.0 1.96
94.0 95.0 1.0 1.74
0.0 7.0 7.0 3.:29

KSD013 447,176 9,593,692 366 1,66 -57 98.2 lncL2m@

10.0 16.0 6.0 8.:22 52.3 git Au
from 13m

4.0 5.0 1.0 0.51

1m 13.0 2.0 :2.:25
KSD014 446,969 9,593,650 355 160 -57.8 98
5m 52.0 1.0 2.37
70.0 74.0 4.0 0.71
15.0 16.0 1.0 0.54
22..0 24.0 2.0 :2.75
KSD015 446,784 9,593,615 341 1,63 -60 120
34.0 35.0 1.0 0.57
4m 42.0 1.0 1.88
33.0 40.0 7.0 0.73

46.0 47.0 1.0 0.70

66.0 67.0 1.0 0.70
KSD016 447,271 9,593,839 411 160 -60 136
70.0 71.0 1.0 0.60
78.0 79.0 1.0 0.91

-
12 7. 129.0 2.0 0.58
44.0 46.0 2.0 1,,06

KSD017 447,148 9,593,861 428 163 -60 97 68.0 69.0 1.0 2.18
84.0 87.0 3.0 0.96
4m 44.0 3.0 0.41
KSD019 447,395 9,594,053 406 150 -60 119
56.0 57.0 1.0 1.19
10.0 11.0 1.0 1.47
50.0 54.0 4.0 1.:24
KSD021 447,169 9,593,778 401 160 -90 88
lncL 1m@
75.0 78.0 3.0 9.56 2a.,o git Au
from 77m

Hole East North RL Azimuth Dip Depth From To Interval Grade

ID (m) (rn) (m) n n (rn) (m) ,(m) (rn) (git Au)
Comments

0.0 17.0 17.0 2.88

35.0 43.0 8.0 1.43
KSD022 447,122 9,593,700 386 305 -90 82-7
47.0 48.0 1.0 0.95
70.0 71.0 1.0 3.35

Note: - lmiividua/ gold assays were cut to 41 gA Au for intercept calculations.

All holes were dri/leri from the surface using conventional trip/e-/ube aiarmmri drilling techniques. Core recoveries
exceeded 90% for ail mineralised intervals reporteri.
2. Significant Drill Hole Intercepts From the Drill Program at Mafi (0.5 g/t Au Cut- Off, 50 g/t
Au Top Cut, Maximum Internal Waste of 2m)
 Hole East North RL Azimuth Dip Depth From To Interval Grade
Comments
ID (m) (m) (m) (·) (·) (m) (m) (m) (m) (git Au)
0.0 2.0 2.00 0.88
002MD00 461,033 9,597,594 254 224.9 -60 56.6
6.0 8.0 2.00 0.52
0.0 15.5 15.50 2.27
003MD00 461,035 9,597,596 254 44.9 -60 50.3
29.0 31.0 2.00 0.75
005MD00 460,962 9,597,662 282 44.9 -60 80.1 4.0 16.0 12.00 1.02
007MD00 461,036 9,597,733 282 115 -78 81.9 2.0 3.0 1.00 0.80
Incl. 1.25m
@25.7 git
014MD00 461,007 9,597,651 283 4.9 -90 72.8 6.0 18.6 12.60 8.01
Au from
15.75m
4.0 6.0 2.00 0.50

015MD00 461,008 9,597,652 283 49.9 -60 99.7 Incl. 2m@

12.0 20.0 8.00 2.72 6.96 git Au
from 12m
9,597,650 283 224.9 -60 63.0 13.0 15.0 2.00 0.80
016MD00 461,006 19.0 21.0 2.00 0.53
49.0 51.0 2.00 0.55
Incl. 2m@
4.0 10.0 6.00 2.99 7.50 git Au
from 6m
Incl. 1.4m
017MD00 461,009 9,597,648 283 134.9 -60 74.5
@ 16.3 git
14.4 22.5 8.10 7.50
Au from
18m
54.0 56.0 2.00 0.50
018MD00 461,034 9,597,597 254 314.9 -60 41.4 0.0 10.5 10.50 1.55
019MD00 461,034 9,597,596 254 4.9 -90 22.2 0.0 14.0 14.00 1.53

Note: - Individual gold assays were cut to 50 git Au for intercept calculations.
- All holes were drilled from the surface using conventional triple-tube diamond drilling techniques. Core recoveries
exceeded 90% for all mineralised intervals reported.
Significant Drill Hole Intercepts From the Scout Drill Program at Bermol (0.5 g/t Au Cut-

Off, 15 g/t Au Top Cut, Maximum Internal Waste of 2m)

 Far East Gold Limited

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary

• Nature and quality of sampling (eg cut channels, random chips, or specific • All drill core was digitally photographed and logged by project geologists. Core
specialised industry standard measurement tools appropriate to the minerals with any potential for mineralisation was marked up for sampling and despatched
under investigation, such as down-hole gamma sondes, or handheld XRF to an analytical laboratory for geochemical analysis. Only obvious non-
instruments, etc). These examples should not be taken as limiting the broad mineralised core was not sampled.
meaning of sampling. • Half core was selected for geochemical analysis.
• Include reference to measures taken to ensure sample representivity and the • The 2007 drill core sample intervals range from 1.00 to 2.00 m with an average
appropriate calibration of any measurement tools or systems used. interval of 1.38 m.
• Aspects of the determination of mineralisation that are Material to the Public • All half-core samples were packed into woven polysacks by experienced site
Report. personnel and air freighted to the Sucofindo Laboratory in Timika, Papua
• In cases where ‘industry standard’ work has been completed this would be Province, Indonesia.
Sampling
relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples • All sample preparation and assays were undertaken by the independent
techniques
from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other Sucofindo Laboratory in Timika, Indonesia (Freeport Industrial Park).
cases more explanation may be required, such as where there is coarse gold • Gold analyses of all drill core samples were by fire assay with atomic absorption
that has inherent sampling problems. Unusual commodities or mineralisation spectrometry (AAS) finish of a 50g sample, with a detection limit of 0.01 g/t Au
types (eg submarine nodules) may warrant disclosure of detailed information. (method FAS4AAS).
• For the determination of base metal AAS analytes the Sucofindo GAM006 – Base
Metal Determination method was used with detection limits of Ag (0.5 ppm) and
Cu, Pb, Zn (each 5 ppm).
• For the determination of AAS hydride analytes the Sucofindo GAM004 – Hydride
Base Metal Determination method was used with a 1.00 ppm detection limit for
Arsenic

• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, • Triple tube diamond core drilling – fully drilled with a diamond bit without RC pre-
Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth collar.
of diamond tails, face-sampling bit or other type, whether core is oriented and if • Core diameter was mostly HQ, reducing to NQ at depth.
Drilling
techniques so, by what method, etc). • Down-hole surveying was routinely conducted at 30 m intervals during 2006 and
2007 drilling.
• Core orientation was measured using a down-hole lance to assist in orienting
structures.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• Core was fitted together and marked up for sampling by a geologist, and where
loose fragments were seen core was wrapped in masking tape before the core
was sawn in half.
• Method of recording and assessing core and chip sample recoveries and results • All core sample recovery recorded in logging sheet and recovery results were
assessed. assessed by project geologists.
Drill sample • Measures taken to maximise sample recovery and ensure representative nature • No significant drilling problems encountered resulted in very good core
recovery of the samples. recoveries.
• Whether a relationship exists between sample recovery and grade and whether • Statistical analyses indicate no relationship between grade and recovery.
sample bias may have occurred due to preferential loss/gain of fine/coarse
material.
• Whether core and chip samples have been geologically and geotechnically • All drill holes were logged by geologists.
logged to a level of detail to support appropriate Mineral Resource estimation, • All logging data recorded intervals from and to, including lithology, mineralisation,
mining studies and metallurgical studies. alteration, sulphides cited, detailed structure, and geotechnical characteristics.
Logging
• Whether logging is qualitative or quantitative in nature. Core (or costean, • All core was photographed.
channel, etc) photography. • All samples that were identified as having any potential mineralisation were
• The total length and percentage of the relevant intersections logged. assayed.

• If core, whether cut or sawn and whether quarter, half or all core taken. • Core samples were logged and all intervals for analysis were marked up by IMI
• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled geologists, mostly at 1 metre intervals.
wet or dry. • Core samples for analyses were cut in half and collected by experienced IMI
• For all sample types, the nature, quality and appropriateness of the sample personnel.
Sub-sampling preparation technique. • 2007 drill core sample intervals ranged from 1.00 to 2.00 m with an average
techniques and • Quality control procedures adopted for all sub-sampling stages to maximise interval of 1.38 m.
sample representivity of samples. • Selected quarter core samples were assayed for quality assurance and quality
preparation
• Measures taken to ensure that the sampling is representative of the in-situ control analysis.
material collected, including for instance results for field duplicate/second-half
sampling.
• Whether sample sizes are appropriate to the grain size of the material being
sampled.
• The nature, quality and appropriateness of the assaying and laboratory • All samples were dispatched to an independent laboratory – Sucofindo
Quality of procedures used and whether the technique is considered partial or total. Laboratory, Timika, Indonesia.
assay data and • For geophysical tools, spectrometers, handheld XRF instruments, etc, the • No QA/QC was conducted in the field at all stages of exploratory sampling.
laboratory tests parameters used in determining the analysis including instrument make and • QA/QC duplicate and replicate sampling only conducted within the Timika
model, reading times, calibrations factors applied and their derivation, etc. Sucofindo Laboratory.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• Nature of quality control procedures adopted (eg standards, blanks, duplicates, • Analysis by Sucofindo of replicate assays and duplicate pulp check assays
external laboratory checks) and whether acceptable levels of accuracy (ie lack of indicate acceptable levels of accuracy and precision.
bias) and precision have been established.
• The verification of significant intersections by either independent or alternative • Twinned holes were considered superfluous during the initial Resource drilling
company personnel. phases.
Verification of • The use of twinned holes. • Data entry involved constructing Excel spreadsheets directly from final laboratory
sampling and • Documentation of primary data, data entry procedures, data verification, data assay reports and delivered electronically in Excel format.
assaying storage (physical and electronic) protocols. • Database verified by IMI exploration supervisor and JV funding Chief Geologist,
• Discuss any adjustment to assay data. including all significant drill intersections.
• Data stored in a company server located in Jakarta, Indonesia.
• Accuracy and quality of surveys used to locate drill holes (collar and down-hole • Soil sampling grid (Northing, Easting, and Elevation) was established with
surveys), trenches, mine workings and other locations used in Mineral Resource handheld GPS control and tape and compass surveyed in the rugged terrain.
estimation. • There is no clear information on whether the borehole collars to date have been
• Specification of the grid system used. surveyed using standard total station techniques or GPS handheld equipment.
• Quality and adequacy of topographic control. • Both Sua and Bermol have been topographically surveyed by site surveyors with
a soil sampling grid established and surveyed over the project. Survey data of
Location of creek locations, ridges, and spot heights were also collected and all survey data
data points was used to create the topography DTM.
• The existing topographic survey is considered adequate for the current DTM.
Minor local discrepancies are evident and further survey work will be required
should further Resource definition ensue.
• The grid system used is Universal Transverse Mercator (WGS 84) UTM Zone 54,
Southern Hemisphere.

• Data spacing for reporting of Exploration Results. • Drill hole spacing and drill section spacing were as close to 100 m as the rugged
• Whether the data spacing and distribution is sufficient to establish the degree of ground conditions allowed.
geological and grade continuity appropriate for the Mineral Resource and Ore • Drilling has verified the mapping and trenching with the confirmation of both strike
Data spacing Reserve estimation procedure(s) and classifications applied. and dip continuity of gold-bearing quartz veins at depth. Although the drilling
and distribution • Whether sample compositing has been applied. density is insufficient to allow a detailed model of the quartz veins it is adequate
to define the overall geometry of the veins.
• Samples are not composited for analysis. Down-hole compositing is applied for
Mineral Resource estimation
• Whether the orientation of sampling achieves unbiased sampling of possible • Drill sections are oriented perpendicular to the main strike of shallow dipping vein
Orientation of structures and the extent to which this is known, considering the deposit type. structures.
data in relation
• Most holes were drilled on section.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

to geological • If the relationship between the drilling orientation and the orientation of key • Vertical and mostly inclined holes were drilled, depending on the orientation of
structure mineralised structures is considered to have introduced a sampling bias, this the mineralisation.
should be assessed and reported if material. • The orientation of the drilling is considered adequate for an unbiased assessment
of the deposit with respect to interpreted structures and control on mineralisation.
• The measures taken to ensure sample security. • All drill core samples were packed on-site into polysacks by experienced IMI
personnel before being helicopter delivered to the IMI logistic depot near
Jayapura Airport and air-freighted by Boeing 737 to the Sucofindo Laboratory in
Sample Timika, Indonesia.
security • All sample preparation and assaying were undertaken at the independent,
internationally recognised, Sucofindo Laboratory, Timika, Papua Province,
Indonesia.
• Pulps and coarse rejects were stored at the Sucofindo Laboratory, Timika.
Audits or • The results of any audits or reviews of sampling techniques and data. • Sampling procedures and data collection were frequently reviewed particularly
reviews during regular site visits and quarterly (every three months) Idenburg operating
committee meetings.
 Far East Gold Limited

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary

• Type, reference name/number, location and ownership including agreements or • PT. Iriana Mutiara Idenburg (IMI) holds an Exploration Contract of Work (COW)
Mineral material issues with third parties such as joint ventures, partnerships, overriding granted on the 13th of December 2017.
tenement and royalties, native title interests, historical sites, wilderness or national park and • Project Area covers 95,280 hectares.
land tenure environmental settings. • The Exploration COW is valid up to the 26th of October 2026.
status • The security of the tenure held at the time of reporting along with any known
impediments to obtaining a license to operate in the area.
• Acknowledgment and appraisal of exploration by other parties. • All known mineral prospects have been located by current and past IMI tenure
holders.
• Acknowledgment and appraisal of exploration by other parties including Barrick
Exploration Gold Corporation and Avocet Mining under Joint Venture, Placer Dome under
done by other
Exclusive Option Period; and, Minorco, Newcrest Mining, and Newmont Mining
parties
under confidential due diligence investigations.
• ACA Howe International Ltd. compiled an independent technical report on the
key prospective targets within the Exploration COW held by IMI.
• Deposit type, geological setting and style of mineralisation. • All gold prospects are located within the exotic Idenburg Inlier terrane, an
approximately 30km x 30km block of amphibolite facies metamorphic rocks
hosting dismembered ophiolites emplaced along regionally extensive thrust
faults.
• The tectonic setting is on the edge of the Pacific Rim, in the complex collisional
zone between the northward creeping Australian continental plate and oceanic
Pacific Plate drifting to the southwest.
Geology
• Style of gold mineralisation as determined from field observations including
mapping and drill core logging is of the orogenic gold type, also referred to as
mesothermal lode gold.
• Repeated petrographic investigations suggest the presence of auriferous,
sheared quartz veins in metamorphic rocks with alteration assemblages seen
and fluid inclusion homogenisation temperatures indicate that orogenic lode gold
deposits are present.
• A summary of all information material to the understanding of the exploration • As discussed in Section 4 and 5 of this report.
Drill hole
results including a tabulation of the following information for all Material drill holes:
Information
- Easting and Northing of the drill hole collar
 Far East Gold Limited

Criteria JORC Code explanation Commentary

- elevation or RL (Reduced Level – elevation above sea level in metres) of
the drill hole collar
- dip and azimuth of the hole
- down-hole length and interception depth
- hole length.
• If the exclusion of this information is justified on the basis that the information is
not Material and this exclusion does not detract from the understanding of the
report, the Competent Person should clearly explain why this is the case.
• In reporting Exploration Results, weighting averaging techniques, maximum • Significant intercepts were calculated using a 0.5 ppm lower cutoff at Mafi and
and/or minimum grade truncations (eg cutting of high grades) and cut-off grades 0.8 ppm Au at all other prospects, 100 ppm uppercut, maximum consecutive
are usually Material and should be stated. waste 1 m.
Data • Where aggregate intercepts incorporate short lengths of high grade results and • No metal equivalent values considered.
aggregation longer lengths of low grade results, the procedure used for such aggregation • Refer to attached Excel spreadsheet with Significant Drill Intersections_IMI.
methods should be stated and some typical examples of such aggregations should be
shown in detail.
• The assumptions used for any reporting of metal equivalent values should be
clearly stated.
• These relationships are particularly important in the reporting of Exploration • The drill targets were tested with the aim of intersecting the interpreted
Results. mineralised structure as perpendicularly as possible to the strike, based on the
Relationship
between • If the geometry of the mineralisation with respect to the drill hole angle is known, geological interpretation available usually from surface creek mapping and
mineralisation its nature should be reported. mapping of trench and channel exposures. Mineralised zones were generally
widths and • If it is not known and only the down-hole lengths are reported, there should be a intersected at angles of greater than 60 degrees to the dip, which will cause a
intercept clear statement to this effect (eg ‘down-hole length, true width not known’). slight overstatement of the true mineralised width.
lengths • Results are reported as down-hole widths, in most cases, the true width is
approximately 80-85 % of the down-hole length.
• Appropriate maps and sections (with scales) and tabulations of intercepts should • All maps, tables, and diagrams are identified in the Table of Contents of this
be included for any significant discovery being reported These should include, report under the headings “Tables”, “Figures” and “Appendices”.
Diagrams
but not be limited to a plan view of drill hole collar locations and appropriate
sectional views.
• Where comprehensive reporting of all Exploration Results is not practicable, • Results from all holes in the historic programs for which assays have been
Balanced
representative reporting of both low and high grades and/or widths should be received are reported.
reporting
practiced to avoid misleading reporting of Exploration Results.
Other • Other exploration data, if meaningful and material, should be reported including • A 30,595 line km fixed-wing aeromagnetic survey was flown, clearly outlining the
substantive (but not limited to): geological observations; geophysical survey results; regional extent of the exotic Idenburg Inlier terrain.
exploration geochemical survey results; bulk samples – size and method of treatment;
data
 Far East Gold Limited

Criteria JORC Code explanation Commentary

metallurgical test results; bulk density, groundwater, geotechnical and rock • Regional drainage sampling has been completed over the entire remaining
characteristics; potential deleterious or contaminating substances. Project Area at a sampling density of just over 1 sample per 5 sq. km. At each
stream site a -80# stream sediment, panned concentrate, and BLEG sample
were collected, along with any mineralised rock float or rock outcrops.
• The BLEG samples were assayed for Au, Ag, and Cu. The silt and rock samples
were assayed for Au, Ag, Cu, Pb, Zn, Mo, Sb, Hg, Bi, Ni, Co, K, and Cr.
• Lithostructural interpretations from air photos and Landsat imagery.
• Compilation of all geochemical, geological, and geophysical data into a GIS
database initially in ArcView format.
• Preliminary metallurgical test work, on surface samples and on drill core
composites from the Sua district show that 50 to 60% of the contained gold is
recoverable by gravity, while overall recoveries by carbon-in-leach (CIL) or resin-
in-leach (RIL) processes exceed 95%. Preliminary work on Bermol samples
suggested minimum gold recoveries by CIL exceeding 80%.
• The nature and scale of planned further work (eg tests for lateral extensions or • Future Resource definition drilling is planned to extend, and infill known
depth extensions or large-scale step-out drilling). mineralised zones, and to delineate additional mineralised zones within the
Further work • Diagrams clearly highlighting the areas of possible extensions, including the main Idenburg Exploration COW Project Area.
geological interpretations and future drilling areas, provided this information is
not commercially sensitive.
 Far East Gold Limited

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

Criteria JORC Code explanation Commentary

• Measures taken to ensure that data has not been corrupted by, for example, • A complete review of the geological database was conducted to assess if the data
transcription or keying errors, between its initial collection and its use for Mineral was suitable to support the estimating and reporting of Gold Resources by a
Resource estimation purposes. Competent Person according to SMGC’s interpretation of the 2012 JORC Code.
• Data validation procedures used. • Valid points of observation require the following information:
• correct survey location data and ensure acceptable discrepancy with the
Database surface topography.
integrity • geological logs detailing the various lithologies and geological structures
present at a given location.
• A downhole survey must be undertaken to check the borehole deviation.
• representative ore samples must be collected and submitted to an accredited
laboratory for analysis and following checked by QA/QC procedures.
• As discussed in Section 6.1 or the SMGC JORC Report of November 2024

• Comment on any site visits undertaken by the Competent Person and the • Several site visits have been carried out by both SMGC and FEG Geologist
outcome of those visits. • SMGC Principal Geologist visited the site from 21 to 28 August 2024.
Site visits • If no site visits have been undertaken indicate why this is the case. • The visit focused on duplicate sampling of the remaining half core of the Sua,
Bermol and Mafi boreholes at the Arso Core Shed.
• Artisanal mining in Mafi was also cited by the SMGC Principal Geologist.
• Confidence in (or conversely, the uncertainty of ) the geological interpretation • Sua gold mineralisation has been interpreted and modelled as a stacked quartz vein
of the mineral deposit. system that dips moderately at around 35 degrees towards the north. The vein
• Nature of the data used and of any assumptions made. system seems to be associated with the thrusting event and runs parallel to the
• The effect, if any, of alternative interpretations on Mineral Resource estimation. thrusts as described above.
• The use of geology in guiding and controlling Mineral Resource estimation. • Bermol gold mineralisation has been interpreted and modelled as a single vein
Geological • The factors affecting continuity both of grade and geology. structure that has been downthrown by faulting towards the north on the western
interpretation side of the river and outcrops at a higher elevation on the eastern side. This has
resulted in 5 discrete vein models.
• Gold mineralisation at Mafi occurs in the oxidised, silicified ultramafics in vuggy,
brecciated sulphide-quartz veins, which form a shallow (10º to 40º) west-dipping
tabular zone. The description of the mineralisation suggests epithermal affinities. If
the mineralisation coincides with a thrust, steeper feeder zones may be present
beneath the thrust, particularly if the mineralisation is restricted laterally.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• The extent and variability of the Mineral Resource expressed as length (along • Model Dimensions
strike or otherwise), plan width, and depth below surface to the upper and lower • Sua: ~ 900 m x 960 m;
Dimensions limits of the Mineral Resource. • Bermol: ~ 1,240 m x 1,280 m; and
• Mafi: ~ 500 m x 460 m.

• The nature and appropriateness of the estimation technique(s) applied and key • SMGC used the existing wireframes of Sua, Bermol, and Mafi for ore domaining.
assumptions, including treatment of extreme grade values, domaining, These wireframes had been received by SMGC when the July 2024 Exploration
interpolation parameters and maximum distance of extrapolation from data Target Report was completed. The wireframes together with the borehole database
points. If a computer assisted estimation method was chosen include a were then loaded into Leapfrog Software for geological modelling, grade estimation
description of computer software and parameters used. and reporting.
• The availability of check estimates, previous estimates and/or mine production • Checks and validation of the borehole databases against the wireframes have been
records and whether the Mineral Resource estimate takes appropriate account undertaken to ensure that the wireframes intersected the valuable gold grade.
of such data. These checks included:
• The assumptions made regarding recovery of by-products. • A visual cross-sectional check of borehole sample Au assays against the ore
• Estimation of deleterious elements or other non-grade variables of economic domain.
significance (eg sulphur for acid mine drainage characterisation). • Conduct a visual inspection of the wireframe extrapolations.
• In the case of block model interpolation, the block size in relation to the average • Reporting of the gold grade within the ore domain.
sample spacing and the search employed. • The geological model is limited by a maximum 100m extrapolation from data.
Estimation
• Any assumptions behind modelling of selective mining units. • The parent block size selected 20m x 20m x 2m (minimum block size 2.5m x 2.5m
and
modelling • Any assumptions about correlation between variables. x 2m) were considered appropriate for this style of mineralisation. The assumption
techniques • Description of how the geological interpretation was used to control the of the block size was designed to match the drill spacing.
Resource estimates. • To estimate grades for Sua and Mafi, SMGC opted for the Inverse Distance
• Discussion of basis for using or not using grade cutting or capping. Weighting (IDW) method.
• The process of validation, the checking process used, the comparison of model • A different search pass was applied to IDW estimation for the Sua Ore domain,
data to drill hole data, and use of reconciliation data if available. while for the Mafi ore domain a single search pass was applied.
• Due to data limitations, the grade estimation for Bermol was conducted using a
weighted average approach. The weighted average of interval samples within the
Bermol wireframe was applied for this purpose.
• There is no grade capping applied in the IMI geological modelling
• Validation to the model was carried out using three main techniques:
• Histograms of sample assays and model grades.
• Swath Plots of sample assays and model grades.
• Cross sections depicting boreholes in relation to the block model.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• Whether the tonnages are estimated on a dry basis or with natural moisture, • The tonnages are estimated based on a specific gravity of 2.8 t/m3 which were
Moisture and the method of determination of the moisture content. determined through bulk density measurements in the Sua Prospect with natural
moisture.
Cut-off • The basis of the adopted cut-off grade(s) or quality parameters applied. • To satisfy the requirement of RPEEE, a break-even cut-off grade of 0.1g/t has been
parameters applied to the IMI Resource Estimation as explained in Section 6.4 in the report.

• Assumptions made regarding possible mining methods, minimum mining • It is assumed the Resource would be amenable to being mined as an open pit
dimensions and internal (or, if applicable, external) mining dilution. It is always excavation by truck and shovel methods.
Mining necessary as part of the process of determining reasonable prospects for
factors or eventual economic extraction to consider potential mining methods, but the
assumptions assumptions made regarding mining methods and parameters when estimating
Mineral Resources may not always be rigorous. Where this is the case, this
should be reported with an explanation of the basis of the mining assumptions
made.
• The basis for assumptions or predictions regarding metallurgical amenability. It • IMI has conducted preliminary metallurgical test work on Sua surface samples and
is always necessary as part of the process of determining reasonable prospects drill core composites at its Penjom Laboratory in Malaysia. This work demonstrated
Metallurgical for eventual economic extraction to consider potential metallurgical methods, that 50 to 60% of the gold was recoverable by gravity, while overall recoveries by
factors or but the assumptions regarding metallurgical treatment processes and Cyanide-in-Leach (CIL) or Resin-in-Leach (RIL) processes exceeded 90%. This
assumptions parameters made when reporting Mineral Resources may not always be indicates that the metallurgy of the mineralisation is amenable to standard extraction
rigorous. Where this is the case, this should be reported with an explanation of techniques.
the basis of the metallurgical assumptions made. • Considering this test work, in determining the gold recovery for these Resources,
SMGC applied a 90% gold recovery.
• Assumptions made regarding possible waste and process residue disposal • All the 14 IMI prospect areas are situated in a production forest (HP) or limited
options. It is always necessary as part of the process of determining reasonable production forest (HPT) zone.
prospects for eventual economic extraction to consider the potential • Both Sua and Mafi are situated in a production forest (HP) area, but Bermol is
Environmen- environmental impacts of the mining and processing operation. While at this situated in a limited production forest area.
tal factors or stage the determination of potential environmental impacts, particularly for a • All exploration and mining activity conducted within the HP area must be covered
assumptions greenfields project, may not always be well advanced, the status of early by a permit to borrow and use forest land (Izin Pinjam Pakai Kawasan Hutan –
consideration of these potential environmental impacts should be reported. IPPKH). There is no information on whether the IPPKH Permit has been applied for
Where these aspects have not been considered this should be reported with an or is already in IMI’s possession.
explanation of the environmental assumptions made. • It is SMGC’s opinion that currently, no environmental, forestry, or permitting issues
that would influence the estimation of this Mineral Resource have been identified.
• Whether assumed or determined. If assumed, the basis for the assumptions. If • The IMI internal Resource Estimation uses a Specific Gravity (SG) of 2.8 t/m3. This
Bulk density determined, the method used, whether wet or dry, the frequency of the has been determined through bulk density measurements in the Sua Prospect and
measurements, the nature, size and representativeness of the samples. is compatible with the host rock and mineralisation style. Due to the absence of a
true SG for Bermol and Mafi, SMGC used an SG of 2.8 to estimate the IMI
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• The bulk density for bulk material must have been measured by methods that Resources for Sua, Bermol and Mafi, which is considered to be conservative when
adequately account for void spaces (vugs, porosity, etc), moisture and considering the style of mineralisation seen at all three prospects.
differences between rock and alteration zones within the deposit.
• Discuss assumptions for bulk density estimates used in the evaluation process
of the different materials.
• The basis for the classification of the Mineral Resources into varying confidence • Exploration to date has been used to build three geological models for the Sua,
categories. Bermol and Mafi Prospects. In interpreting the 2012 JORC, SMGC is of the opinion
• Whether appropriate account has been taken of all relevant factors (ie relative that the deposits in the three prospective areas can only be categorized as Inferred
confidence in tonnage/grade estimations, reliability of input data, confidence in Resources, primarily because:
continuity of geology and metal values, quality, quantity and distribution of the • There were no QA/QC samples to control sampling in the field, QA/QC
data). sampling was only conducted at the Timika Sucofindo Laboratory.
• Whether the result appropriately reflects the Competent Person’s view of the • Duplicate sampling of the remaining half core of the Sua, Bermol and Mafi
Classification deposit. Prospects by SMGC exhibited no relationship between original and duplicate
samples.
• The bulk density measurement to determine the SG used for Resource
Estimation was only undertaken in Sua, a true SG for Bermol and Mafi were
absent.
• The collar coordinates of the Bermol and Mafi boreholes have been adjusted
to the current revised topography due to discrepancies.
• As discuss in Section 6.6 in the SMGC JORC Report of November 2024
• The results of any audits or reviews of Mineral Resource estimates. • This document has been checked as part of SMGC’s peer review process by Keith
Audits or Whitchurch
reviews • Mr Whitchurch is a Fellow of the Australasian Institute of Mining and Metallurgy. He
has sufficient experience relevant to the style of mineralisation and the type of
deposit located in this concession to qualify as a Competent Person
• Where appropriate a statement of the relative accuracy and confidence level in • As discussed in Section 6.6 of the SMGC JORC Report of November 2024.
the Mineral Resource estimate using an approach or procedure deemed • Due to the data limitations, the IMI Mineral Resource can only be categorised as an
Discussion of appropriate by the Competent Person. For example, the application of statistical Inferred Resource.
relative or geostatistical procedures to quantify the relative accuracy of the Resource • It is likely that with further infill, the Mineral Resource estimated will increase.
accuracy/ within stated confidence limits, or, if such an approach is not deemed
confidence appropriate, a qualitative discussion of the factors that could affect the relative
accuracy and confidence of the estimate.
• The statement should specify whether it relates to global or local estimates, and,
if local, state the relevant tonnages, which should be relevant to technical and
 Far East Gold Limited

Criteria JORC Code explanation Commentary

economic evaluation. Documentation should include assumptions made and
the procedures used.
• These statements of relative accuracy and confidence of the estimate should
be compared with production data, where available.
 Far East Gold Limited

Section 4 Estimation and Reporting of Ore Reserves

(Criteria listed in section 1, and where relevant in sections 2 and 3, also apply to this section.)

Criteria JORC Code explanation Commentary

Mineral • Description of the Mineral Resource estimate used as a basis for the conversion • Not Applicable
Resource to an Ore Reserve.
estimate for • Clear statement as to whether the Mineral Resources are reported additional to,
conversion to
or inclusive of, the Ore Reserves.
Ore Reserves
• Comment on any site visits undertaken by the Competent Person and the • Not Applicable
Site visits outcome of those visits.
• If no site visits have been undertaken indicate why this is the case.
• The type and level of study undertaken to enable Mineral Resources to be • Not Applicable
converted to Ore
• Reserves.
• The Code requires that a study to at least Pre-Feasibility Study level has been
Study status
undertaken to convert Mineral Resources to Ore Reserves. Such studies will
have been carried out and will have determined a mine plan that is technically
achievable and economically viable, and that material Modifying Factors have
been considered.
Cut-off • The basis of the cut-off grade(s) or quality parameters applied. • Not Applicable
parameters
• The method and assumptions used as reported in the Pre-Feasibility or • Not Applicable
Feasibility Study to convert the Mineral Resource to an Ore Reserve (i.e. either
by application of appropriate factors by optimisation or by preliminary or detailed
design).
• The choice, nature and appropriateness of the selected mining method(s) and
other mining parameters including associated design issues such as pre-strip,
Mining factors access, etc.
or assumptions • The assumptions made regarding geotechnical parameters (eg pit slopes, stope
sizes, etc), grade control and pre-production drilling.
• The major assumptions made and Mineral Resource model used for pit and stope
optimisation (if appropriate).
• The mining dilution factors used.
• The mining recovery factors used.
• Any minimum mining widths used.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• The manner in which Inferred Mineral Resources are utilised in mining studies
and the sensitivity of the outcome to their inclusion.
• The infrastructure requirements of the selected mining methods.
• The metallurgical process proposed and the appropriateness of that process to • Not Applicable
the style of mineralisation.
• Whether the metallurgical process is well-tested technology or novel in nature.
• The nature, amount and representativeness of metallurgical test work
Metallurgical undertaken, the nature of the metallurgical domaining applied and the
factors or corresponding metallurgical recovery factors applied.
assumptions • Any assumptions or allowances made for deleterious elements.
• The existence of any bulk sample or pilot scale test work and the degree to which
such samples are considered representative of the orebody as a whole.
• For minerals that are defined by a specification, has the ore Reserve estimation
been based on the appropriate mineralogy to meet the specifications?
• The status of studies of potential environmental impacts of the mining and • Not Applicable
processing operation. Details of waste rock characterisation and the
Environmen-tal consideration of potential sites, status of design options considered and, where
applicable, the status of approvals for process residue storage and waste dumps
should be reported.
• The existence of appropriate infrastructure: availability of land for plant • Not Applicable
development, power, water, transportation (particularly for bulk commodities),
Infrastructure
labour, accommodation; or the ease with which the infrastructure can be
provided, or accessed.
• The derivation of, or assumptions made, regarding projected capital costs in the • Not Applicable
study.
• The methodology used to estimate operating costs.
• Allowances made for the content of deleterious elements.
• The derivation of assumptions made of metal or commodity price(s), for the
Costs principal minerals and co- products.
• The source of exchange rates used in the study.
• Derivation of transportation charges.
• The basis for forecasting or source of treatment and refining charges, penalties
for failure to meet specification, etc.
• The allowances made for royalties payable, both Government and private.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• The derivation of, or assumptions made regarding revenue factors including head • Not Applicable
grade, metal or commodity price(s) exchange rates, transportation and treatment
Revenue charges, penalties, net smelter returns, etc.
factors
• he derivation of assumptions made of metal or commodity price(s), for the
principal metals, minerals and co-products.
• The demand, supply and stock situation for the particular commodity, • Not Applicable
consumption trends and factors likely to affect supply and demand into the future.
• A customer and competitor analysis along with the identification of likely market
Market windows for the product.
assessment
• Price and volume forecasts and the basis for these forecasts.
• For industrial minerals the customer specification, testing and acceptance
requirements prior to a supply contract.
• The inputs to the economic analysis to produce the net present value (NPV) in • Not Applicable
the study, the source and confidence of these economic inputs including
Economic estimated inflation, discount rate, etc.
• NPV ranges and sensitivity to variations in the significant assumptions and
inputs.
• The status of agreements with key stakeholders and matters leading to social • Not Applicable
Social
license to operate.
• To the extent relevant, the impact of the following on the project and/or on the • Not Applicable
estimation and classification of the Ore Reserves:
• Any identified material naturally occurring risks.
• The status of material legal agreements and marketing arrangements.
• The status of governmental agreements and approvals critical to the viability of
Other the project, such as mineral tenement status, and government and statutory
approvals. There must be reasonable grounds to expect that all necessary
Government approvals will be received within the timeframes anticipated in the
Pre-Feasibility or Feasibility study. Highlight and discuss the materiality of any
unresolved matter that is dependent on a third party on which extraction of the
Reserve is contingent.
• The basis for the classification of the Ore Reserves into varying confidence • Not Applicable
categories.
Classification
• Whether the result appropriately reflects the Competent Person’s view of the
deposit.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• The proportion of Probable Ore Reserves that have been derived from Measured
Mineral Resources (if any).
Audits or • The results of any audits or reviews of Ore Reserve estimates. • Not Applicable
reviews
• Where appropriate a statement of the relative accuracy and confidence level in • Not Applicable
the Ore Reserve estimate using an approach or procedure deemed appropriate
by the Competent Person. For example, the application of statistical or
geostatistical procedures to quantify the relative accuracy of the Reserve within
stated confidence limits, or, if such an approach is not deemed appropriate, a
qualitative discussion of the factors which could affect the relative accuracy and
confidence of the estimate.
Discussion of • The statement should specify whether it relates to global or local estimates, and,
relative if local, state the relevant tonnages, which should be relevant to technical and
accuracy/ economic evaluation. Documentation should include assumptions made and the
confidence procedures used.
• Accuracy and confidence discussions should extend to specific discussions of
any applied Modifying Factors that may have a material impact on Ore Reserve
viability, or for which there are remaining areas of uncertainty at the current study
stage.
• It is recognised that this may not be possible or appropriate in all circumstances.
These statements of relative accuracy and confidence of the estimate should be
compared with production data, where available.
 Far East Gold Limited

Section 5 Estimation and Reporting of Diamonds and Other Gemstones

(Criteria listed in other relevant sections also apply to this section. Additional guidelines are available in the ‘Guidelines for the Reporting of Diamond
Exploration Results’ issued by the Diamond Exploration Best Practices Committee established by the Canadian Institute of Mining, Metallurgy and
Petroleum.)

Criteria JORC Code explanation Commentary

• Reports of indicator minerals, such as chemically/physically distinctive garnet, • Not Applicable
Indicator
ilmenite, chrome spinel and chrome diopside, should be prepared by a suitably
minerals
qualified laboratory.
• Details of the form, shape, size and colour of the diamonds and the nature of the • Not Applicable
Source of
source of diamonds (primary or secondary) including the rock type and geological
diamonds
environment.
• Type of sample, whether outcrop, boulders, drill core, reverse circulation drill • Not Applicable
cuttings, gravel, stream sediment or soil, and purpose (eg large diameter drilling
Sample to establish stones per unit of volume or bulk samples to establish stone size
collection
distribution).
• Sample size, distribution and representivity.
• Type of facility, treatment rate, and accreditation. • Not Applicable
• Sample size reduction. Bottom screen size, top screen size and re-crush.
Sample
• Processes (dense media separation, grease, X-ray, hand-sorting, etc).
treatment
• Process efficiency, tailings auditing and granulometry.
• Laboratory used, type of process for micro diamonds and accreditation.
Carat • One fifth (0.2) of a gram (often defined as a metric carat or MC). • Not Applicable
• Sample grade in this section of Table 1 is used in the context of carats per units • Not Applicable
of mass, area or volume.
• The sample grade above the specified lower cut-off sieve size should be reported
as carats per dry metric tonne and/or carats per 100 dry metric tonnes. For
alluvial deposits, sample grades quoted in carats per square metre or carats per
Sample grade
cubic metre are acceptable if accompanied by a volume to weight basis for
calculation.
• In addition to general requirements to assess volume and density there is a need
to relate stone frequency (stones per cubic metre or tonne) to stone size (carats
per stone) to derive sample grade (carats per tonne).
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• Complete set of sieve data using a standard progression of sieve sizes per facies. • Not Applicable
Bulk sampling results, global sample grade per facies. Spatial structure analysis
and grade distribution. Stone size and number distribution. Sample head feed
and tailings particle granulometry.
• Sample density determination.
• Per cent concentrate and undersize per sample.
Reporting of • Sample grade with change in bottom cut-off screen size.
Exploration
• Adjustments made to size distribution for sample plant performance and
Results
performance on a commercial scale.
• If appropriate or employed, geostatistical techniques applied to model stone size,
distribution or frequency from size distribution of exploration diamond samples.
• The weight of diamonds may only be omitted from the report when the diamonds
are considered too small to be of commercial significance. This lower cut-off size
should be stated.
• Description of the sample type and the spatial arrangement of drilling or sampling • Not Applicable
designed for grade estimation.
Grade • The sample crush size and its relationship to that achievable in a commercial
estimation for treatment plant.
reporting • Total number of diamonds greater than the specified and reported lower cut-off
Mineral
sieve size.
Resources and
Ore Reserves • Total weight of diamonds greater than the specified and reported lower cut-off
sieve size.
• The sample grade above the specified lower cut-off sieve size.
• Valuations should not be reported for samples of diamonds processed using total • Not Applicable
liberation method, which is commonly used for processing exploration samples.
• To the extent that such information is not deemed commercially sensitive, Public
Reports should include:
• diamonds quantities by appropriate screen size per facies or depth.
Value • details of parcel valued.
estimation • number of stones, carats, lower size cut-off per facies or depth.
• The average $/carat and $/tonne value at the selected bottom cut-off should be
reported in US Dollars. The value per carat is of critical importance in
demonstrating project value.
• The basis for the price (eg dealer buying price, dealer selling price, etc).
• An assessment of diamond breakage.
 Far East Gold Limited

Criteria JORC Code explanation Commentary

• Accredited process audit. • Not Applicable
• Whether samples were sealed after excavation.
• Valuer location, escort, delivery, cleaning losses, reconciliation with recorded
sample carats and number of stones.
• Core samples washed prior to treatment for micro diamonds.
Security and • Audit samples treated at alternative facility.
integrity
• Results of tailings checks.
• Recovery of tracer monitors used in sampling and treatment.
• Geophysical (logged) density and particle density.
• Cross validation of sample weights, wet and dry, with hole volume and density,
moisture factor.
• In addition to general requirements to assess volume and density there is a need • Not Applicable
to relate stone frequency (stones per cubic metre or tonne) to stone size (carats
Classification
per stone) to derive grade (carats per tonne). The elements of uncertainty in
these estimates should be considered, and classification developed accordingly.
• •
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