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First Au Ltd.
Summary
| Project: | Gimlet | |
|---|---|---|
| Deposit: | Gimlet | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-10-2019: First Au Ltd. announces an Exploration/Drilling Update report for its Gimlet deposit at the Gimlet project. Drilling results incl. 12m @ 4.0g/t Au from 223m. First Au Limited (ASX: FAU; the “Company”) is pleased to announce strong assay result | |
| Resources: | (Resource, Inf.): 642Kt @ 3.33g/t Au for 68.7Koz Au contained | |
| CP/QP: | [Overall Report]: Gavin England (Not stated) | |
| ABSTRACT: | First Au Limited (ASX: FAU; the “Company”) is pleased to announce strong assay results from two deep diamond drill holes at its flagship Gimlet gold project near Kalgoorlie. The drilling was designed to test whether the mineralisation at Gimlet, which has a JORC Inferred Resource of 69, 000oz (refer to ASX release dated 7 May 2019), extends at depth. The drilling returned results such as 12m at 4.0 g/t Au (from 223m), including 1m at 29gpt. These indicate that the mineralised system continues down dip, with drill hole 19GDD004 providing a >25- gram metre Au intersection below 200 metres vertical depth. These two diamond holes are the first part of a more extensive program which includes RC drilling that will commence in November, primarily to continue targeting mineralisation at depth as well as gold anomalism and alteration identified from recent aircore in drilling along strike (refer to ASX release dated 30 August 2019). A recent successful drilling campaign by DGO Gold (see DGO ASX announcement on the 22nd October 2019) in a drillhole located 9kms to the north of the Gimlet resource as well as Horizon Minerals’ (ASX:HRZ) Teal Deposits (total of 289,000 Oz Au) to the south of Gimlet, shows the strong potential for a major mineralised corridor within the Black Flag Group between the Abattoir and Zuleika shears (Figure 1). DGO Executive Chairman Eduard Eshuys said: “DGO’s intersection, some 10km north of FAU’s resource area, lends further support to the scale of the Teal-Gimlet trend which may ultimately develop into a new significant mineralised corridor in the Kalgoorlie field”. | |
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