Far Northern Resources Extends Bridge Creek Gold Mineralisation with Phase 2 Drilling and Lays Out 2026 Growth Blueprint

• Phase 2 drilling extends gold mineralisation north, south, and below known resource
• Five-step 2026 plan includes geological modelling and targeted drilling
• Exploration expenditure focused on Bridge Creek totals $35,000 for the quarter
• Cash balance remains robust at $1.826 million with over 17 quarters of funding
• No changes to tenement holdings or material resource estimates

Phase 2 Drilling Uncovers Deeper and Wider Gold Zones at Bridge Creek

Far Northern Resources (ASX:FNR) has delivered a meaningful update on its Bridge Creek gold project in the Northern Territory, confirming that its recent Phase 2 drilling program has successfully extended mineralisation beyond the previously defined resource boundaries. The drilling, completed last quarter, revealed gold mineralisation extending north and south of the known ore body, including a significant 750-metre extension to the south. Notably, the first deep holes drilled beneath the known resource intersected the primary south-dipping lode approximately 75 metres below the existing resource block, validating historical diamond drilling results from the 1990s.

The company’s assay results, released in early April, reinforce the potential for a larger, more complex ore system than previously modelled. This drilling milestone builds on prior findings and supports the company’s confidence in Bridge Creek’s development prospects. These developments continue the narrative established in the earlier Phase 2 drilling confirms mineralisation extensions report, which highlighted high-grade intercepts and the strategic importance of the deeper lode discovery.

Clear Five-Step Plan Targets Resource Model Update and Optimisation

Looking ahead, Far Northern Resources has outlined a focused five-step plan for 2026 designed to capitalise on the recent drilling success and advance Bridge Creek’s resource definition and economic assessment. This plan starts with a rigorous evaluation of quality assurance and control data to determine if previously excluded drillhole information can be reincorporated into the resource model, potentially enhancing resource confidence and size.

Subsequent steps include updated geological interpretation and wireframing for both the central and southern sections of Bridge Creek, followed by a high-level resource optimisation study. The company also intends to undertake further metallurgical and geotechnical drilling to refine recovery assumptions and improve pit design inputs, critical for progressing toward future feasibility studies. Finally, targeted extension and infill drilling will test high-grade mineralisation at depth and along strike, aiming to bolster resource density in priority areas.

Stable Resource Base and Modest Expenditure Reflect Focused Exploration

As of August 2025, Bridge Creek’s inferred mineral resource stands at approximately 70,560 ounces of gold at a grade of 1.12 g/t, with no indicated resource yet reported. The company also holds smaller resources at its Empire Stockworks project in Queensland and the Ios project in the Northern Territory, bringing total gold resources to around 117,000 ounces. No material changes to these estimates were reported this quarter, as the company awaits the outcomes of its planned geological modelling updates.

Exploration expenditure for the quarter was modest at $35,032, concentrated primarily on Bridge Creek drilling activities. Operating cash outflows and investing activities combined to reduce cash reserves slightly, but Far Northern Resources maintains a healthy cash balance of $1.826 million, equating to an estimated 17 quarters of funding at current burn rates. The company made payments totaling $75,880 to related parties, primarily directors’ fees and superannuation, consistent with prior quarters.

No Changes to Tenement Holdings or Material Assumptions

There were no acquisitions or disposals of tenements during the quarter. The company continues to hold key mining leases at Bridge Creek, including ML 766, ML 1060, and ML 30807, with expiry dates extending into the 2030s and 2040s. The Queensland tenements remain granted, with native title agreements pending finalisation for some leases.

Far Northern Resources confirmed compliance with JORC reporting standards and ASX disclosure requirements, affirming that no new information has materially altered prior resource estimates or technical assumptions. The Competent Person’s Statement was provided by Mr Christopher Speedy of Angora Resources, who has relevant expertise in the style of mineralisation encountered.

With these developments, Far Northern Resources is poised to refine its resource models and advance Bridge Creek’s project economics, setting the stage for more detailed studies and potential resource upgrades in the coming months.

Bottom Line?

Far Northern Resources’ methodical approach to extending and defining Bridge Creek’s gold resource, backed by a clear 2026 plan and solid cash reserves, positions it well for meaningful resource upgrades and value creation.

Questions in the middle?

• Will the updated geological modelling significantly increase Bridge Creek’s indicated resource category?
• How will metallurgical and geotechnical studies impact recovery assumptions and project economics?
• What are the timelines and funding plans for the next phase of targeted drilling and resource optimisation?