Far Northern Resources (ASX:FNR) focuses on three gold and base metals projects – two based in Northern Queensland (Empire and Rocks Reef) and one in the Northern Territories (Bridge Creek). Far Northern Resources debuted on the ASX on April 12, 2024, and secured AU$6 million in funding.
The company’s Empire Project is located 34 kilometres west of Chillagoe in North Queensland covering 252 hectares, on granted mining lease 20380. The claims boast a rich exploration history, marked by substantial drilling conducted across various phases. This culminated in the determination of a 2019 mineral resource estimate of 22,505 oz of gold on the Empire Stockworks gold deposit.
Far Northern is planning a 20,000-meter drilling program over the next two years, which will consist: of 5,000+ meters for Empire; 2,500 to 5,000 meters for Bridge Creek; and 2,500 meters planned at Rocks Reef in the China Wall prospect.
Company Highlights
Far Northern Resources (FNR) is a newly listed Australia-based gold and base metals exploration company. The company was listed on the ASX on April 12, 2024, following the completion of its IPO in which it raised AU$4 million.The company has three projects across Northern Queensland and the Northern Territories – Empire, Bridge Creek and Rocks Reef. Empire and Bridge Creek are significantly advanced, drill-ready with JORC-compliant resources.The flagship project Empire has undergone extensive exploration work culminating in a 2019 mineral resource estimate of 22,500 oz gold. The company intends to undertake 5,000 meters of drilling at Empire over the next two years which should lead to further expansion of the resource base.At Bridge Creek, FNR is planning a 2,500- to 5,000-meter drilling program, which aims to enhance inferred resources to indicated status, as well as extend the mineralization both along the strike and at depth.The Rock Reefs property presents a prospective upside for FNR with historical exploration confirming the presence of a mineralized vein system at the China Wall prospect. FNR is planning a 2,500-meter drill program at the China Wall prospect.The presence in relatively attractive mining jurisdictions in Australia positions the company to capitalize on opportunities in Australia’s resource sector and deliver superior returns to its shareholders.
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