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First Au Ltd.
Summary
| Project: | Gimlet | |
|---|---|---|
| Deposit: | Gimlet | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-8-2019: First Au Ltd. announces an Exploration/Drilling Update report for its Gimlet deposit at the Gimlet project. Drilling results incl. 4m @ 0.88g/t Au from 36m. First Au Limited (ASX: FAU; the “Company”) is pleased to announce results received from | |
| 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 results received from the recent aircore drilling program at the Gimlet Project, near Kalgoorlie. The Company drilled approximately 6000 metres commencing in early June, to primarily target along strike of the Gimlet Resource. This follows the recent announcement of a Maiden JORC Inferred Resource of approximately 642,300 tonnes at an average grade of 3.3 g/t Au for an estimated 69,00 oz Au (refer to ASX release dated 7 May 2019 and see Table 5 below for details). Aircore drilling has identified evidence of a continuation of the mineralised system north of Gimlet, with low grade gold mineralisation (> 100 ppb Au) within the supergene blanket, as well as evidence of sulphide and sericite alteration within the fresh rock, of a similar style to that seen at Gimlet. In the coming Quarter, the Company plans to drill deeper in this target area, below the regolith, with a round of RC drilling. In addition, FAU will drill the downdip extent of mineralisation within the Gimlet Resource area and investigate the Horan Dam Prospect, situated along a parallel structure to the west of Gimlet (Figure 1). Work has also begun on the White Dam (E24/215) tenement ~ 4km NNW of Gimlet (Figure 4), with primary targets already identified. The company is also delighted in the gold recoveries from testing of the oxide ore zone from the preliminary round of metallurgy at Gimlet. | |
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