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First Au Ltd.

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Summary

Project:

Gimlet

Deposit:Gimlet
Location:Australia
Commodities:Gold
Date:9/10/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:10-9-2018: First Au Ltd. announces an Exploration/Drilling Update report for its Gimlet deposit at the Gimlet project. Drilling results incl. 8m @ 1.55g/t Au from 48m. First Au Limited (ASX: FAU) (‘First Au’ or the ‘Company’) is pleased to advise that it
Resources:x
CP/QP:[Overall Report]: Brian Richardson (Independent)
ABSTRACT:First Au Limited (ASX: FAU) (‘First Au’ or the ‘Company’) is pleased to advise that it has made a strong start to its maiden drilling program at the 100%-owned Gimlet Gold Project, located 15km north-west of Kalgoorlie, with significant shallow gold mineralisation intersected in initial Aircore drilling. The Company has recently completed a 54-hole, 3816m program designed primarily to locate mineralised shear zones trending north from the adjacent Teal Gold Project, where Intermin Resources Limited (ASX: IRC) has recently reported significant exploration results (refer IRC ASX release, 1 August, 2018). The Aircore program has intersected gold mineralisation within the northern extension of the YolandeJacques shear zone, ~200m north of the First Au-Intermin tenement boundary (see Figure 1). Hole 18GAC010 intersected 8m @ 1.55 g/t Au from 44m including an interval of 4m @ 2.3g/t Au from 48m within a strongly altered iron-rich felsic volcanic rock with minor quartz veining and evidence of oxidised sulphides (Figure 2). As the hole was at the end of the drill section, the mineralisation remains open in all directions. Details of the hole are provided below All holes were sampled as 4m composites with 1m splits taken for re-assay from anomalous intervals. Final results are pending. The well-mineralised Yolande-Jacques shear zone can be traced for over 1,800m within the adjacent Intermin tenements and hosts the Jacques Find resource (~27,000oz Au) and the developing Yolande prospect, where recent drilling has intersected grades of up to 10m @ 6.7 g/t Au (refer IRC ASX release, 1 August, 2018). The Yolande-Jacques shear runs parallel to the shear hosting the Teal gold deposit (reported Resource of 1.49 at 2.18g/t for ~104,000oz, refer IRC ASX release, 1 August, 2018) (see Figure 1). Within the First Au tenement E26/174, the shear zone is interpreted to extend along the eastern contact of the strongly magnetic unit and may extend for another 2km (see Figure 3) as no effective historical drilling has adequately tested this prospective contact. First Au’s Chairman, Bryan Frost, said: “These are exciting results, particularly considering that this phase of Aircore drilling was primarily aimed at locating the prospective shear zone on our tenements. Given the location of this significant gold intercept on the northern extension of the Yolande-Jacques shear and the potential for further mineralisation along strike to the north, we are very encouraged by the early results from our exploration at the Gimlet Project.

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