Eastern Resources uncovers gold potential at Marengo Project

Eastern Resources (ASX:FE) outlined gold potential at its Marengo Gold Project following the completion of its maiden reconnaissance fieldwork.

Located approximately 45km southeast of the 1.1Moz Mt Carlton Gold mine, the exploration programme identified over 200 isolated quartz localities and confirmed almost all historic workings in the area.

A highlight of the campaign is the discovery of a prospective, north-south oriented vein system at the Reza’s Reef prospect, which boasts approximately 1.7km of continuous strike length.

Executive Director Myles Fang noted that this vein system reaches an estimated width of one metre and is accompanied by up to two parallel veins of similar width, establishing a solid foundation for upcoming exploration programmes.

The maiden programme focused on locating historical workings and identifying surface vein extensions using systematic mapping and sampling.

Operations targeted a 750-hectare area spanning the One Mile Mountain, Sulphide Shaft, and Seymour’s Reef prospects, which form a nine-kilometre-long northwest-trending zone.

The area contains more than 50% of the known historic workings that have undergone extreme structural events.

Fieldwork successfully located several unmarked workings and numerous historic workings whilst confirming the locations of previous rock chip samples with GPS tracking.

Armed with these promising geological results, Eastern Resources intends to return to the Marengo Gold project in the coming months to pursue further exploration and fully test the potential for shallow, high-grade gold-bearing quartz veins.

At the time of reporting, Eastern Resources’ share price was $0.031.