Uncertainty Remains as Far Northern Resources Probes Deeper Gold Zones at Bridge Creek

Phase 2 Drilling Extends Known Mineralisation

Far Northern Resources Limited (ASX:FNR) has announced assay results from the recently completed Phase 2 reverse circulation (RC) drilling program at its Bridge Creek gold project in the Northern Territory. The results reveal extensions of gold mineralisation beyond the current resource boundaries, including to the north, south, and down dip of the known ore body.

Highlights include northern extensions with intercepts such as 1m at 1.97g/t Au from 53m and 2m at 3.10g/t Au from 33m, as well as a southern extension approximately 720m from the current resource with 7m at 1.04g/t Au from 10m. Infill drilling also returned high-grade results, including 1m at 8.03g/t Au from 29m and 1m at 5.17g/t Au from 15m, demonstrating continuity and potential for resource growth.

Deep Drilling Under Known Ore Body

Significantly, the first deep holes drilled beneath the known ore body intersected the primary south-dipping lode approximately 75m below the current resource block. These holes were designed to test historic diamond drill results from the 1990s, which reported intercepts such as 14m at 2.46g/t Au from 119.8m and 16m at 1.90g/t Au from 140m. This suggests potential for additional mineralisation at depth that was previously untested.

Managing Director Cameron Woodrow commented on the results, stating the company is "extremely pleased with these significant gold grades" and noting the extensions to the north and south of the current ore body. The drilling program was conducted using industry-standard RC methods with rigorous quality assurance and quality control (QA/QC) protocols to ensure data reliability.

Next Steps in Resource Development

Far Northern Resources plans to evaluate the QA/QC data to consider reintroducing previously excluded drillhole data into the resource model. Geological interpretation and wireframing will be updated for both the Bridge Creek Central and South resource models. The company also intends to conduct a high-level resource optimisation study alongside further metallurgical and geotechnical drilling to refine recovery assumptions and support mine planning.

Targeted extension and infill drilling will follow, focusing on testing high-grade mineralisation at depth and along strike, as well as improving drill density in priority near-resource areas. These steps aim to enhance the confidence and accuracy of the mineral resource estimates ahead of future development studies.

Project Context and Historical Exploration

The Bridge Creek gold deposit is situated within granted mining leases wholly owned by Bridge Creek Mining Pty Ltd, approximately 125km south-southeast of Darwin. The project lies within the Pine Creek Geosyncline, a well-known gold-producing region with a complex geological setting involving folded Proterozoic sedimentary and volcanic rocks.

Historical exploration by various parties, including Northern Gold NL in the 1990s, has established a foundation of drilling and resource data. Far Northern Resources has built on this with modern exploration techniques, including a recent high-resolution LiDAR survey that identified key geological targets along the Howley anticline, supporting the current drilling program. This survey and its implications for targeting were detailed in a previous update on the company’s Bridge Creek activities.

All assay data and mineral resource estimates comply with the JORC Code 2012 Edition, with competent persons overseeing the technical reporting. The company has also disclosed relevant historical drilling results and confirmed no material changes to assumptions underpinning resource estimates.

Quality Assurance and Reporting Standards

The drilling program employed reverse circulation methods with one-metre sample intervals, analysed by fire assay with atomic absorption spectroscopy finish. QA/QC procedures included duplicate sampling and use of certified reference materials to ensure data integrity. Downhole surveys and collar locations were accurately recorded using GPS and gyroscopic instruments.

Far Northern Resources emphasises that the reported intercepts are downhole widths and not necessarily true widths, given the steep dip of mineralisation relative to drill orientation. The company cautions that further work is required to confirm geological interpretations and resource extents.

This announcement follows the company’s earlier Phase 2 drilling recommencement update, which highlighted the strong cash position supporting ongoing exploration at Bridge Creek and other projects.