Far Northern Resources Limited (ASX: FNR), a gold exploration and development company focused on Australian tenements, today announced a significant upgrade to the Mineral Resource Estimate (MRE) for its Bridge Creek Gold Project in the Northern Territory. The update revealed a substantial 31% increase in contained gold ounces at the project’s Central Gold Deposit. This revised estimate boosts the Bridge Creek Resource to 93,000 ounces of gold, while the total contained gold ounces across FNR’s Northern Territory projects now stands at 117,000 ounces, marking a 23% overall increase.
Managing Director Cameron Woodrow commented that the MRE update was “better than expected” and reinforced the company’s focus on its Northern Territory tenements within the highly prospective Pine Creek Goldfields, located approximately 135 kilometres south of Darwin. The company believes this strengthened resource base solidifies its position in the region and provides a robust foundation for future growth and potential long-life operations. Mineralisation at Bridge Creek extends from near surface and remains open along strike and down dip, indicating further exploration potential.
Looking ahead, FNR plans to undertake diamond drilling programs to gather crucial data for density, geotechnical, and metallurgical studies in the central area of Bridge Creek. This work is designed to help progress mining studies for a starter pit. The company is also reviewing a larger drilling program aimed at further testing extensions to the north and south of the Central deposit. FNR’s strategy is focused on identifying and confirming the best mineral inventory to support the early years of a potential operation, aiming to deliver the highest-value and lowest-risk development pathway for shareholders.
