Far Northern Resources Confirms High-Grade Gold at Bridge Creek, Phase Two Drilling Set
Far Northern Resources has completed its first phase of drilling at the Bridge Creek project, confirming significant high-grade gold mineralization and preparing for an expanded second phase of exploration.
- Completion of 20 reverse circulation drill holes confirming gold mineralization
- High-grade gold intercepts including 2m at 21.44g/t and 3m at 36.82g/t
- Phase two drilling preparation completed with over 2000m planned
- Strategic proximity to a nearby mill enhances project viability
- Corporate changes include new non-executive director appointment
Drilling Success at Bridge Creek
Far Northern Resources Limited (FNR) has reported promising results from the first phase of its 2025 drilling campaign at the Bridge Creek Mining Lease in the Northern Territory. The company completed 20 reverse circulation drill holes targeting the Cosmo Howley anticline, a key geological feature known for hosting gold mineralization. All holes intercepted gold, validating the existing resource model and confirming the presence of high-grade zones.
Noteworthy assay results include a standout intercept of 2 meters grading 21.44 grams per tonne (g/t) gold from 14 meters depth, including a 1-meter section at an exceptional 41.55 g/t. Another highlight was a 3-meter intercept at 36.82 g/t, featuring a remarkable 1-meter section at 104 g/t. These results reinforce the continuity and richness of mineralization within the lease, underscoring the potential for a viable mining operation.
Strategic Positioning and Next Steps
The Bridge Creek project benefits from its proximity to an operational mill within trucking distance, a logistical advantage that could reduce future capital expenditure and accelerate project development. With mineralization remaining open both at depth and along strike, FNR is well-positioned to expand its resource base.
Preparations for phase two drilling are complete, with over 2000 meters planned for the upcoming quarter. The company’s board expresses confidence that continued exploration will further delineate and grow the resource, potentially enhancing the project's economic prospects.
Corporate and Financial Overview
Alongside exploration progress, Far Northern Resources announced a change in its board composition with the appointment of Nicholas Revell as a non-executive director and the resignation of Rod Corps. Financially, the company spent approximately $179,000 on exploration activities during the quarter, maintaining a stable cash position of $2.5 million at quarter-end, sufficient to fund operations for an estimated seven quarters at current expenditure levels.
While no substantive activities were reported for the Empire and Rocks Reef projects this quarter, Bridge Creek remains the focal point of FNR’s growth strategy. The company continues to manage its tenements effectively, with all necessary documentation lodged and awaiting final native title agreements.
Looking Ahead
Far Northern Resources’ recent drilling success at Bridge Creek marks a significant milestone in its exploration journey. The confirmation of high-grade gold zones and the readiness to commence phase two drilling signal a company on the cusp of unlocking substantial value. Investors and industry watchers will be keenly awaiting the next tranche of assay results, which could further validate the project’s potential and influence FNR’s trajectory in the competitive gold exploration sector.
Bottom Line?
With phase two drilling imminent, Far Northern Resources is poised to deepen its stake in Northern Territory’s gold potential.
Questions in the middle?
- How will phase two drilling results compare to the high-grade intercepts seen in phase one?
- What are the timelines and potential hurdles for securing final native title agreements?
- Could the proximity to the mill translate into accelerated project development or cost savings?
