Bridge Creek Drilling Unveils Significant Gold Intercepts at Far Northern Resources
Far Northern Resources Limited (ASX:FNR) has announced promising results from Phase One of its drilling programme at the Bridge Creek gold project in the Northern Territory, with multiple high-grade gold intercepts that could significantly expand the existing resource footprint.
Highlights Reveal Multiple High-Grade Gold Zones
The recently completed RC drilling programme has delivered impressive gold grades across several key areas of the project:
- A standout intercept of 34.71g/t Au over 3m from 12m depth in hole FNRBCRC022
- Extension of the mineralisation footprint 80m north of the current resource with 9m @ 1.76g/t Au from 51m, including 3m @ 4.58g/t Au
- Promising results from previously excluded historical drilling areas with multiple significant intercepts including 69m @ 1.19g/t Au from 12m in hole FNRBCRC002
The results support FNR's strategy to expand the current inferred resource of 1.97Mt @ 1.12g/t Au for 70,560 ounces at Bridge Creek.
"We are extremely pleased with these significant Au grades, with the RC drilling results that extends the mineralisation to the north and south, this has the potential to grow the current Resource. With each set of drill results our understanding of mineralisation and geological controls is evolving," said Managing Director Cameron Woodrow.
Understanding Orogenic Gold Systems in the Pine Creek Region
Bridge Creek sits within the Pine Creek Geosyncline, a region known for hosting significant orogenic gold deposits. These systems typically form along major structural corridors where gold-bearing fluids have migrated through faults and fractures.
At Bridge Creek, gold mineralisation occurs in three distinct styles:
- Quartz-sulphide stockwork zones within pyritic black shales (dominant style)
- Quartz-sulphide impregnated shear zones at geological contacts
- Quartz-sulphide veins within the Zamu Dolerite
Understanding these mineralisation styles is crucial for investors, as orogenic gold systems often extend to significant depths and can host substantial gold endowments when properly delineated.
The Far Northern Resources gold drilling results demonstrate the presence of these mineralisation styles, with particular success in identifying the stockwork zones that typically host the highest gold grades in this geological setting.
Strategic Expansion Plans
The drilling programme targeted several key objectives:
| Target Area | Results | Significance |
|---|---|---|
| North Extension | 9m @ 1.76g/t Au from 51m | Extends resource footprint by 80m |
| South Verification | Multiple intercepts including 16m @ 1.22g/t Au | Confirms historical data excluded from resource |
| Within Resource | 69m @ 1.19g/t Au from 12m | Enhances confidence in existing resource |
| Down-dip Testing | 3m @ 1.78g/t Au from 54m | Indicates potential for depth extensions |
This systematic approach demonstrates FNR's methodical strategy to grow the resource base at Bridge Creek through targeted exploration. The Far Northern Resources gold drilling results support the company's thesis that significant resource expansion is possible at the project.
Upcoming Catalysts and Timeline
FNR has submitted 1m split samples for assay, with results expected within 6 weeks. These more detailed assays will provide greater resolution on the high-grade zones identified in the composite sampling and help refine targets for future drilling success programmes.
This represents an important near-term catalyst for investors watching the company's progress at Bridge Creek. The upcoming detailed assay results could potentially confirm the high-grade intercepts from the composite samples and provide greater confidence in the resource expansion potential.
What Are Orogenic Gold Deposits?
Orogenic gold deposits are one of the most important sources of gold globally. These deposits form during mountain-building events when the earth's crust is compressed and heated, creating ideal conditions for gold-bearing fluids to migrate and deposit gold in fractures and faults.
Key characteristics of orogenic gold deposits include:
- Formation Environment: Develop during periods of tectonic compression and crustal thickening
- Host Rocks: Commonly found in metamorphosed volcanic and sedimentary rocks
- Structural Controls: Gold mineralisation typically follows structural features like faults and shear zones
- Vertical Extent: Can extend to significant depths, sometimes exceeding 1-2km
- Gold Association: Usually associated with quartz veins and sulphide minerals like pyrite and arsenopyrite
The Pine Creek region hosts numerous orogenic gold deposits, making it one of Australia's significant gold provinces. The Far Northern Resources gold drilling results exhibit typical characteristics of orogenic gold systems, with gold mineralisation controlled by structural features and associated with quartz-sulphide assemblages.
Investment Thesis: A Compelling Growth Story
Far Northern Resources presents an attractive investment opportunity based on several key factors:
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Resource Growth Potential: The current drilling results strongly indicate potential to expand the existing 70,560oz resource at Bridge Creek.
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Strategic Location: The project is situated in the well-established Pine Creek gold province, just 125km from Darwin with excellent infrastructure access.
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High-Grade Intercepts: Results like 34.71g/t Au over 3m highlight the potential for high-grade gold intercepts within the broader mineralised system.
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Multiple Gold Projects: Bridge Creek complements FNR's Queensland asset (Empire Stockworks), providing a combined resource base of 93,060oz across two jurisdictions.
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Systematic Exploration Approach: The company's methodical verification and extension strategy demonstrates technical competence and disciplined capital allocation.
The recent Far Northern Resources gold drilling results have significantly enhanced the growth potential of the project, particularly with the extension of mineralisation both to the north and south of the existing resource area.
Why Investors Should Follow Far Northern Resources
Far Northern Resources represents an emerging gold exploration story with several compelling attributes for investors:
The company is systematically building value through targeted drilling at Bridge Creek, with clear evidence that the current 70,560oz resource has significant expansion potential both along strike and at depth.
The standout intercept of 34.71g/t Au over 3m demonstrates the high-grade potential within the system, while broader zones like 69m @ 1.19g/t Au suggest potential for bulk mining scenarios that could enhance project economics.
With assay results from 1m splits expected within 6 weeks and future drilling programmes being planned based on these encouraging results, FNR offers investors exposure to an active gold explorer with regular news flow and significant resource growth potential.
The company's total resource base of 93,060oz across two projects provides a solid foundation, with clear pathways to growth through continued exploration success at both Bridge Creek and Yundamindra gold project.
The Far Northern Resources gold drilling results demonstrate a methodical approach to resource development that could position the company for future resource upgrades and potentially a re-rating as the scale of the gold project investment opportunity is better understood by the market.
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