Far Northern Resources has increased the Mineral Resource Estimate at its Bridge Creek Central Gold Deposit by 31%, lifting contained gold ounces to 93,000 and total Northern Territory project ounces to 117,000. The resource remains open for expansion, underpinning plans for early mining studies.
- 31% increase in Bridge Creek Central gold ounces to 93 koz
- Total Northern Territory gold resource rises 23% to 117 koz
- Resource remains open along strike and down dip
- Next steps include diamond drilling for metallurgical and geotechnical data
- MRE classified as Inferred under JORC 2012
Significant Upgrade at Bridge Creek Central Deposit
Far Northern Resources Limited (ASX:FNR) has delivered a notable 31% upgrade to the Mineral Resource Estimate (MRE) at its Bridge Creek Central Gold Deposit in the Northern Territory, lifting contained gold ounces to 93,000. This upgrade pushes the total Northern Territory project resource to 117,000 ounces, a 23% increase, reinforcing FNR’s foothold in the prolific Pine Creek Goldfields.
The updated resource remains open both along strike and down dip, offering clear upside potential. The mineralisation extends from near surface, with the central deposit striking approximately 650 metres and plunging down dip for 200 metres. The southern saddle reef deposit also remains open to the south.
Technical Details Underpinning the Upgrade
The MRE update incorporates extensive drilling data up to the end of 2025, with a total of 230 drill holes and nearly 19,000 metres drilled. The resource is classified entirely as Inferred under the JORC 2012 Code, reflecting drill spacing averaging 25 metres in the central area and up to 100 metres in the south.
FNR engaged Angora Resources to prepare the estimate, using Ordinary Kriging geostatistical methods constrained within a Whittle pit shell based on a gold price assumption of AUD$6500/oz. The cut-off grade applied was 0.5 g/t Au, balancing economic extraction prospects with grade continuity.
Bulk density values were assigned by lithology and oxidation state, though FNR acknowledges the current density data is limited and plans diamond drilling to collect representative samples for improved accuracy. Metallurgical testwork on composite samples indicated heap leaching amenability for oxide ore and conventional gravity plus CIP processing with recoveries ranging from 58% to 90%, although further testing is recommended to optimize recovery.
Pathway to Development and Next Steps
Managing Director Cameron Woodrow highlighted that the MRE update exceeded expectations and solidified the company’s focus on its Northern Territory assets. The next phase will involve diamond drilling to gather density, geotechnical, and metallurgical samples, critical inputs for progressing mining studies and evaluating starter pit options.
Woodrow noted the deposit remains open to the north and south, with plans to extend drilling toward the Ios prospect and beyond. He emphasised FNR’s strategy to pursue a low-risk, high-value development pathway leveraging the centrally located 117,000 ounces of gold just 135km from Darwin.
Historical and Geological Context
Bridge Creek lies within the Pine Creek Geosyncline, a region with a rich gold mining history dating back to the late 19th century. The deposit is hosted within folded Lower Proterozoic sediments and volcanic units, with mineralisation associated with quartz-sulphide vein stockworks and saddle reef structures.
The project area benefits from existing infrastructure access via the Stuart Highway, although wet season conditions can impact site accessibility. The updated MRE and geological modelling incorporate decades of exploration data, including recent high-resolution LiDAR surveys and drilling campaigns.
Risks and Considerations
Despite the positive upgrade, the resource remains classified as Inferred, reflecting uncertainties around drill spacing, bulk density data, and metallurgical variability. Approximately 26% of drill holes lack downhole dip surveys, adding to the uncertainty in geological modelling. FNR acknowledges these limitations and is prioritising infill drilling and detailed studies to enhance confidence.
Environmental and social governance (ESG) considerations are at an early stage, consistent with the greenfields nature of the project. Further environmental assessments will be necessary as the project advances.
Bottom Line?
Far Northern Resources’ Bridge Creek upgrade sets the stage for targeted drilling and early mining studies, but resource confidence and metallurgical data remain key hurdles to clear.
Questions in the middle?
- How will upcoming diamond drilling impact resource classification and mine planning?
- What metallurgical challenges might the dolerite lithology pose for processing?
- How will FNR manage environmental and permitting risks as development progresses?