Far Northern Resources Boosts Ios Gold Estimate, Launches Bridge Creek Drilling
Far Northern Resources has updated its Mineral Resource Estimate for the Ios Gold Project and initiated a Phase 2 drilling program at Bridge Creek, signalling progress in its Northern Territory gold exploration.
- Ios Gold Project resource updated to 24,100 ounces at 1.49 g/t Au
- Combined Bridge Creek and Ios inferred resource totals 94,660 ounces
- LiDAR survey enhances drill targeting across Bridge Creek mining leases
- Phase 2 drilling program of 29 holes underway at Bridge Creek
- Quarterly exploration spend of $59,931 with $2.3 million cash reserves
Updated Mineral Resource Estimate at Ios
Far Northern Resources Limited (FNR) has released its September 2025 quarterly report, highlighting a significant update to the Mineral Resource Estimate (MRE) for its Ios Gold Project in the Northern Territory. The revised estimate now stands at 0.5 million tonnes grading 1.49 grams per tonne gold, equating to approximately 24,100 ounces. This update follows a detailed review of historical assay data and provides a stronger foundation for advancing mining studies and resource definition drilling.
Expanding Resources at Bridge Creek and Ios
When combined with the Bridge Creek Gold Deposit, the total inferred resource across both projects has been updated to 2.47 million tonnes at 1.19 grams per tonne gold, or 94,660 ounces. This aggregation underscores the growing scale of FNR’s Northern Territory portfolio and the potential for near-surface, open-pit extraction, supported by a gold price assumption of around AUD$5100 per ounce.
Leveraging LiDAR Technology for Precision Drilling
To enhance exploration efficiency, FNR completed a LiDAR survey over its three mining leases at Bridge Creek. This high-resolution mapping has clarified the location of historical workings and identified over 30 near-surface anomalies spanning 1.1 kilometres of strike between Bridge Creek Central and Ios. The data has been instrumental in designing a targeted Phase 2 drilling program, which commenced in October 2025 and consists of 29 holes aimed at expanding the resource base.
Financial and Corporate Updates
During the quarter, FNR spent just under $60,000 on exploration activities, primarily focused on Bridge Creek. The company ended the period with cash reserves of approximately $2.3 million, providing a runway of over 17 quarters at current expenditure levels. Notably, there was a board change with the resignation of Director Rod Corps in July 2025. No new tenements were acquired or disposed of during the quarter, and payments to related parties remained consistent with existing remuneration arrangements.
Looking Ahead
Far Northern Resources is positioning itself to build on this momentum with ongoing drilling and metallurgical testwork designed to increase confidence in high-grade zones and improve geological understanding. The combination of updated resource estimates, advanced survey techniques, and active drilling programs suggests a methodical approach to unlocking value from its Northern Territory gold assets.
Bottom Line?
With drilling underway and resources expanding, Far Northern Resources is setting the stage for a pivotal phase in its gold exploration journey.
Questions in the middle?
- How will Phase 2 drilling results impact the confidence and size of the resource estimate?
- What is the timeline for finalizing native title agreements that could affect project development?
- Does the company anticipate needing additional capital to advance mining studies or production?
