Far Northern Resources has boosted its Bridge Creek Central gold resource by 31%, increasing total Northern Territory contained ounces by 23% to 117,000 oz. Drilling to support technical studies is underway as the company maintains a solid cash position.
- Bridge Creek Central gold resource upgraded 31% to 93 koz
- Total Northern Territory gold resource rises 23% to 117 koz
- Diamond drilling commenced for density, metallurgical studies
- A$1.59 million cash on hand at 30 June 2026
- Exploration spend focused mainly on Bridge Creek project
Significant Upgrade to Bridge Creek Resource
Far Northern Resources (ASX:FNR) has announced a 31% increase in its Mineral Resource Estimate (MRE) at the Bridge Creek Central Gold Deposit, lifting contained gold ounces to 93,000. This upgrade contributes to a 23% rise in total contained gold ounces across its Northern Territory projects to 117,000 ounces. The resource remains open along strike and down dip, suggesting potential for further expansion.
Ongoing Drilling Supports Technical Studies
Diamond drilling commenced in July 2026 at Bridge Creek, targeting density, geotechnical, metallurgical, and waste rock characteristics. The planned six-hole program aims to collect core samples over approximately 750 metres. Drill pads were prepared onsite in June, following an extensive drilling campaign designed to link Bridge Creek Central with the nearby Ios Gold Project. These efforts align with the company’s push to refine resource confidence and support early mining studies.
Resource Breakdown and Classification
The May 2026 MRE classifies all Bridge Creek resources as Inferred under the JORC 2012 Code, with a 0.5 g/t gold cut-off applied within a first-pass Whittle pit shell based on an assumed AUD$6,500/oz gold price. Bridge Creek Central accounts for 2 million tonnes at 1.18 g/t Au for 76,000 ounces, while Bridge Creek South holds 700,000 tonnes at 0.8 g/t Au for 17,000 ounces. The total Northern Territory inferred resource, including Ios, stands at 3.2 million tonnes grading 1.15 g/t Au for 117,000 ounces.
Financial Position and Expenditure
At 30 June 2026, Far Northern Resources held A$1.59 million in cash. The company spent approximately A$90,000 on exploration during the quarter, primarily focused on Bridge Creek. Related party payments, including directors’ fees and superannuation, totalled A$75,880. No new tenements were acquired or disposed of during the period, and the company awaits final native title agreements for Queensland tenements.
Next Steps and Market Implications
With drilling underway to support metallurgical and geotechnical studies, Far Northern Resources is positioning Bridge Creek for potential advancement toward mining feasibility. The resource upgrade and ongoing technical work may help underpin future development decisions. However, the current MRE remains classified as Inferred, and drilling results from the July program will be critical to improving resource confidence and guiding next phases.
Bottom Line?
Far Northern Resources’ resource upgrade and active drilling at Bridge Creek set the stage for potential project advancement, but upcoming assay results will be key to validating the deposit’s economic prospects.
Questions in the middle?
- How will the July drilling results impact resource classification and confidence?
- What metallurgical characteristics will emerge from ongoing studies and how might they affect processing plans?
- Will Far Northern Resources seek additional funding to accelerate development following technical updates?