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First Au Ltd.
Summary
| Project: | Gimlet | |
|---|---|---|
| Deposit: | Gimlet | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-5-2019: First Au Ltd. announces an Exploration/Drilling Update report for its Gimlet deposit at the Gimlet project. Drilling results incl. 32.0m @ 4.9g/t Au from 93m. Drillhole 19GDD001 and Drillhole 19GDD002 were drilled in the central and high-grade | |
| Resources: | (Resource, Inf.): 642Kt @ 3.33g/t Au for 68.7Koz Au contained | |
| CP/QP: | [Overall Report]: Gavin England (Independent) | |
| ABSTRACT: | Drillhole 19GDD001 and Drillhole 19GDD002 were drilled in the central and high-grade core of the 450m-long mineralisation system at Gimlet, which is currently open at depth (Figure 1, and 2). Drillholes were also positioned to provide valuable information for a geotechnical study currently underway. Observations from the diamond core showed evidence of sheared and altered intermediate sedimentary volcanic fresh rock, containing lenses, disseminated and stringer of sulphides, as well as multiple phases of quartz and carbonate veinlets. Pyrite appears to be the dominant sulphide phase, while arsenopyrite and galena have also been identified in the logging. In hole 19GDD001, there is also evidence of coarse gold (Figure 3). Coarse gold was also observed in recent ore petrology completed on aircore hole 18GAC063, which contained 3m @ 462 g/t Au from 52m (see ASX release 8 November 2018). The mineralised shear appears near vertical in orientation and the true thickness of the two intersections is estimated to be ~ 10m. Further RC and diamond drilling will be now planned to follow up these excellent results, including a proposed diamond hole to target 100m below the current limits of the Resource (Figure 4). Collar details of the diamond drilling is reported in Table 2 below, and additional information is provided as the JORC Table 1 within the Appendix. | |
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